Labor variances cinturon produces high-quality leather belts. the company's plant in boise uses a standard costing system and has set the following standards for materials and labor: leather (3 strips @ $4)$12.00 direct labor (0.75 hr. @ $12)9.00 total prime cost$21.00 during the first month of the year, boise plant produced 92,000 belts. actual leather purchased was 287,500 strips at $4.80 per strip. there were no beginning or ending inventories of leather. actual direct labor was 79,500 hours at $13.00 per hour. required: break down the total variance for labor into a rate variance and an efficiency variance using the columnar and formula approaches.

The strength of the economy depends on the balance pf production and consumption of goods and consumption of goods and services

James albemarle created a trust fund at the beginning of 2016. the income from this fund will go to his son edward. when edward reaches the age of 25, the principal of the fund will be conveyed to united charities of cleveland. mr. albemarle specified that 75 percent of trustee fees are to be paid from principal. terry jones, cpa, is the trustee. james albemarle transferred cash of $500,000, stocks worth $400,000, and rental property valued at $250,000 to the trustee of this fund. immediately invested cash of $360,000 in bonds issued by the u.s. government. commissions of $7,900 are paid on this transaction. incurred permanent repairs of $9,000 so that the property can be rented. payment is made immediately. received dividends of $8,000. of this amount, $3,000 had been declared prior to the creation of the trust fund. paid insurance expense of $4,000 on the rental property. received rental income of $10,000. paid $8,000 from the trust for trustee services rendered. conveyed cash of $7,000 to edward albemarle.

Agovernment receives a gift of cash and investments with a fair value of $200,000. the donor specified that the earnings from the gift must be used to beautify city-owned parks and the principal must be re-invested. the $200,000 gift should be accounted for in which of the following funds? a) general fund b) private-purpose trust fund c) agency fund d) permanent fund