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The balances in the variable overhead control account and the variable overhead control account are $120,000 and $125,000 respectively. The variable overhead spending variance is $6,000 and the variable overhead efficiency variance is $11,000. Which of the following entries would be required to record the variances in a standard costing system?
Calendar Year
A one-year period that begins on January 1 and ends on December 31, used for general reporting and taxation purposes.
Jane's Capital
Jane's Capital refers to the amount of money or value of assets that Jane has invested in a business or enterprise.
Legal Practice
The profession and activities related to providing legal advice, representation, and services to clients.
Journal Entry
A record in accounting that notes a specific financial transaction in a company's general ledger.
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