On April 1, Year 1, Fossil Energy Company purchased an oil producing well at a cash cost of $14,740,000. It is estimated that the oil well contains 980,000 barrels of oil, of which only 880,000 can be profitably extracted. By December 31, Year 1, 44,000 barrels of oil were produced and sold. The amount of depletion expense for Year 1 on this well would be: (Do not round intermediate calculations.)

Skychefs, inc. prepares in-flight meals for a number of major airlines. one of the company's products is grilled salmon in dill sauce with baby new potatoes and spring vegetables. during the most recent week, the company prepared 4000 of these meals using 960 direct labor hours. the company paid these direct labor workers a total of $19,200 for this work, or $20.00 per hour. according to standard cost card for this meal, it should require 0.25 direct labour-hours at a cost of $19.75 per hour.1. what is the standard labor-hours allowed (sh) to prepare 4,000 meals? 2. what is the standard labor cost allowed (sh x sr) to prepare 4,000 meals? 3. what is the labor spending variance? 4. what is the labor rate variance and the labor efficiency variance?