9. RED Company makes and sells a single product . The company recorded the following activity and cost data for the month of May: Number of units completed 45 , 000 units Standard direct labor-hours allowed per unit of product 1.5 Budgeted direct labor-hours (denominator activity) 72 , 000 Actual fixed overhead costs incurred P66 , 000 Volume variance P4 , 275 U The fixed portion of the predetermined overhead rate is PO. 95 per direct labor-hour. Questions: 1. The amount of fixed overhead budgeted for May was: 2. The fixed overhead budget variance for May was: P (amount) (favorable or unfavorable)

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Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.