Discussion Question 3: For accounting and reporting purposes, is it really necessary to account for deprecation even though depreciation expense does not affect cash. (non-cash expense). Briefly explain. Discussion Question 4: Why do employer payroll taxes affect business profits and liabilities but employee payroll withholdings affect only liabilities.

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 $1.80 per pound) $16.20 direct labor (6 hours at $14.00 per hour) $84.00 during the month of april, the company manufactures 270 units and incurs the following actual costs. direct materials purchased and used (2,500 pounds) $5,000 direct labor (1,660 hours) $22,908 compute the total, price, and quantity variances for materials and labor.