CGS @ Standard	1,000,000
Direct labor rate variance	120,000
Direct labor efficiency variance	(30,000)
Direct materials price variance	(50,000)
Direct materials quantity variance	(60,000)
Fixed overhead budget variance	(100,000)
Fixed overhead volume variance	(100,000)
Variable overhead spending variance	(10,000)
Variable overhead efficiency variance	80,000
Adjusted Cost of Goods Sold	850,000

____________________________ The sum of the four overhead variances shown on the statement is equal to:

Group of answer choices

A. Incurred overhead

B. Over- or underapplied overhead

C. None of the above

D. Applied overhead