FastNet Systems’ managers could set direct labor standards based on FastNet Systems is a start-up company that makes connectors for high-speed Internet connections. The company has budgeted variable costs of \($120\) for each connector and fixed costs of \($7,000\) per month.
FastNet’s static budget predicted production and sales of 100 connectors in August, but the company actually produced and sold only 76 connectors at a total cost of $25,000.

a. continuous improvement.

b. time-and-motion studies.

c. benchmarking.

d. past actual performance.

e. Any of the above