Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (9 pounds at $3.70 per pound) $33.30
Direct labor (5 hours at $11.00 per hour) $55.00
During the month of April, the company manufactures 340 units and incurs the following actual costs.
Direct materials purchased and used (1,500 pounds) $5,850
Direct labor (1,730 hours) $18,684
Compute the total, price, and quantity variances for materials and labor. (DROP DOWN OPTIONS ARE FAVORABLE, UNFAVORABLE OR NEITHER)
Total materials variance
Materials price variance
Total labor variance
Labor quantity variance

Which of the following accurately describes a situation in which consumers have elastic demand? a. a restaurant starts using margarine instead of butter because butter becomes more expensive. b. consumers boycott a restaurant because the waiters aren't paid minimum wage. c. a company starts using sugar instead of corn syrup because its revenues are up. d. people give up eating pasta and bread because they want to lose weight. 2b2t

As related to a company completing the purchase to pay process, is there an accounting journal entry "behind the scenes" when xyz company pays for the goods within 10 days of the invoice (gross method is used for discounts and terms are 2/10 net 30) that updates the general ledger?

Mae jong corp. issues $1,000,000 of 10% bonds payable which may be converted into 10,000 shares of $2 par value ordinary shares. the market rate of interest on similar bonds is 12%. interest is payable annually on december 31, and the bonds were issued for total proceeds of $1,000,000. in accounting for these bonds, mae jong corp. will: (a) first assign a value to the equity component, then determine the liability component. (b) assign no value to the equity component since the conversion privilege is not separable from the bond.(c) first assign a value to the liability component based on the face amount of the bond.(d) use the “with-and-without” method to value the compound instrument.