Theory Enterprises uses a standard cost system and prepared the following budget for May when 24,000 machine hours of activity were anticipated: variable overhead, $48,000; fixed overhead: $240,000. Actual data for May were:Standard machine hours allowed for output attained: 25,000Actual machine hours worked: 24,000Variable overhead incurred: $50,000Fixed overhead incurred: $250,000 The variable-overhead spending and efficiency variances for Theory are: Variable-Overhead Spending Variance Variable-Overhead Efficiency VarianceA.$0 $0 B.$0 $2,000unfavorableC.$2,000unfavorable $0 D.$2,000favorable $2,000unfavorableE.$2,000unfavorable $2,000favorable
A. Choice A
B. Choice B
C. Choice C
D. Choice D
E. Choice E
Answer: E
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Subjective interpretation is learned through enculturation
Indicate whether the statement is true or false.
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