MajorNet Systems is a start-up company that makes connectors for high-speed Internet connections. The company has budgeted variable costs of $145 for each connector and fixed costs of $7,500 per month. MajorNet's static budget predicted production and sales of 100 connectors in August, but the company actually produced and sold only 84 connectors at a total cost of $21,000. MajorNet Systems' managers could set direct labor standards based on

A. time-and-motion studies

B. continuous improvement

C. benchmarking

D. past actual performance

E. Items a,b,c and d are all correct