Underfoot Products uses standard costing.The following information about overhead was generated during May: 
-Compute the variable overhead efficiency variance.
Definitions:
Present Value
The present value of a future amount of money or a series of cash flows, calculated using a given interest rate.
Annuity
A finance-related product designed to issue a predetermined series of payouts to an individual, typically aimed at serving as an income source for retirement.
Net Present Value
A calculation that compares the present value of cash inflows to the present value of cash outflows over a period of time, used in capital budgeting to assess profitability of investments.
Return on Investment
A performance measure used to evaluate the efficiency or profitability of an investment or to compare the efficiency of several different investments.
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