Lenci Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During May, the company budgeted for 5,100 units, but its actual level of activity was 5,050 units. The company has provided the following data concerning the formulas used in its budgeting and its actual results for May:
Data used in budgeting:
Actual results for May:
-The spending variance for manufacturing overhead in May would be closest to:
Definitions:
Trading Costs
Expenses incurred in the process of buying or selling securities, including commissions, spreads, and slippage.
Marketable Securities
Financial instruments that can be quickly converted into cash at market value, such as stocks, bonds, and Treasury bills.
Daily Interest Rate
The interest rate applied to a loan or investment for a single day, often used for calculating interest over short periods.
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