7 48. 51 7 55 54 57 7 58 60 5 Question 37 (3 points) A company makes fudge in a batch process, i.e. they prepare, mix and cook the ingredients in small batches, followed by a thorough cleanup of the equipment after each batch. For the month of July the company budgeted to make 20,000 lbs. in 200 batches; setup and cleanup costs regarding the batches were budgeted at $10,000 in total. Actual results for July were as follows: they made 24,000 lbs, in 300 batches; setup and cleanup costs regarding the batches cost $18,000 in total. The rate/price and efficiency variances associated with the batch making process are $6,000U efficiency variance; $0 rate/price variance $3,000U efficiency variance; $3,000 U rate/price variance $3,000F efficiency variance; $6,000 U rate/price variance $4,000U efficiency variance; $2,000 U rate/price variance Question 38 (1 point) True or False: "Pro forma statements" provide historical information and include the income statement, balance sheet and statement of cash flows. True False Question 39 (1 point)