New harvest bakery acquired all the outstanding common stock of red rock bakery for $70,300 in cash. the book values and market values of red rock's assets and liabilities were as follows:
book value fair value
current assets $22,500 $22,800
property, plant, and equipment 40,100 52,100
other assets 4,800 5,400
current liabilities 10,600 15,100
long-term liabilities 22,400 20,900
calculate the amount paid for goodwill.

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?