[Solved] The lag length in a VAR using the BIC proceeds as follows: Among a set of candidate values of p,the estimated lag length xxxis the value of p A)For which the BIC exceeds the AIC B)That maximizes BIC(p) C)Cannot be determined here since a VAR is a system of equations,not a single one D)That minimizes BIC(p) Average Expenses: The mean amount of costs incurred over a specified period. Manufacturing Overhead Budget: A financial plan outlining the projected indirect production costs, such as utilities and maintenance, for a specific period. Direct Labor-Hour: A measure of the labor time involved in producing a unit of output, often used in costing and budgeting. Variable Manufacturing Overhead: Costs associated with manufacturing that vary with production volume, such as indirect materials and utilities.