Answer the following questions using the information below:
Brown Corporation manufactured 3,000 chairs during June. The following variable overhead data pertain to June:
-What is the variable overhead spending variance?
Definitions:
Free Markets
An economic system in which prices are determined by unrestricted competition between privately owned businesses, without government intervention.
Efficiency
The optimal allocation of resources to produce the maximum amount of goods and services, with the least waste of resources.
Pareto Optimality
Pareto Optimality is a state of allocation of resources in which it is impossible to make any one individual better off without making at least one individual worse off.
Income Distribution
Income Distribution refers to the way in which total income is shared among the members of a society.
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