Page 48 142. If Jordan Company makes the following journal entry: Variable Overhead Allocated $100, 080 Variable Overhead Efficiency Variance 30, 080 Variable Overhead Control $125, 000 Variable Overhead Spending Variance 5, 000 It may be inferred that a. Jordan over-allocated variable manufacturing overhead. b. the net variance is a $10,005 favorable spending variance. C. Work-in-Process, Finished Goods, and Cost of Goods Sold balances are understated. d. the journal entry accounts are incorrect