A(n) ________ refers to a document that states the terms for converting an existing business to an LLC (limited liability company)

Akao Products uses a standard cost system

Overhead costs are allocated based on direct labor hours. In the first quarter, Akao had an unfavorable efficiency variance for variable overhead costs. Which of the following scenarios is a reasonable explanation for this variance? A) The actual number of direct labor hours was lower than the budgeted hours. B) The actual variable overhead costs were higher than the budgeted costs. C) The actual variable overhead costs were lower than the budgeted costs. D) The actual number of direct labor hours was higher than the budgeted hours.

A country that is shifting from an agricultural based economy to an industrial based economy is known as a developing country

Indicate whether the statement is true or false