A production process contains a machine that deteriorates rapidly in both quality and output under heavy usage, so that it is inspected at the end of each day. Immediately after inspection, the condition of the machine is noted and classified into one of four possible states: (1) Good as new, (2) Operable with minimum deterioration, (3) Operable with major deterioration, (4) Inoperable-replace by a new machine. The process can be modeled as a Markov chain with its transition matrix P given by:

Abbington company has a manufacturing facility in brooklyn that manufactures robotic equipment for the auto industry. for year 1, abbingtonabbington collected the following information from its main production line: actual quantity purchased-200 units, actual quantity used-110 units, units standard quantity-100 units, actual price paid-$8 per unit, standard price-$10 per unit. atlantic isolates price variances at the time of purchase. what is the materials price variance for year 1? 1. $400 favorable. 2. $400 unfavorable. 3. $220 favorable. 4. $220 unfavorable.