Comtree Inc. applies overhead based on machine hours. In the month just ended, the company used 17,000 direct labour hours to produce 7,000 units. The standard amount of labour per unit is 2.5 DLH. According to the standards each unit requires 1.2 machine hours. During the period 9,100 machine hours were used. Which of the following statements is true? The labour efficiency variance and the overhead efficiency variance were both favourable. The labour efficiency variance and the overhead efficiency variance were both unfavourable. The labour efficiency variance was favourable and the overhead efficiency variance was unfavourable. The labour efficiency variance was unfavourable and the overhead efficiency variance was favourable. Jonas Company makes three similar products that differ in quality, price and variable cost. A Sales Mix variance indicates which of the following? O A change in the variable cost of the products compared with the budget. O A calculation error has occurred because this situation could not result in a Sales Mix variance. O A change in market size compared to the budget assumptions. O A change in the proportion of each product sold compared to the budget. In producing Part#105, 6,300 litres of direct material were used at a cost of $1.10 per litre. The standard material allowed for the actual output was 6,000 litres at a standard price of $1.00 per litre. The direct materials quantity variance was: $330 U 0 $300 U 0 $6300 $600 U Black Inc.'s budgeted net income for the second quarter is $35,000. Planned equipment purchases are $25,000 in April and $5,000 in June. Dividends will be declared and paid in June in the amount of $8,000. If Retained Earnings was budgeted to be $236.000 as of March 31, what will budgeted Retained Earnings be on June 30th? Do not enter the dollar sign or commas in your