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Use the information below to answer the following question(s) .
Willis Corporation manufactures industrial-sized gas furnaces and uses budgeted machine-hours to allocate variable manufacturing overhead. The following information pertains to the company's manufacturing overhead data:
-What is the variable overhead efficiency variance?
Independent Variable
A variable in an experiment or model that is manipulated or changed to assess its effects on a dependent variable.
Scattergraph
A graphical representation used in cost accounting to show the relationship between a cost (dependent variable) and its driver (independent variable).
Contribution Margin Ratio
The proportion of sales revenue that remains after variable costs are subtracted, represented as a percentage of total sales.
Selling Price
The amount of money for which a product or service is sold to customers.
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