18. best around, inc. is a manufacturer of vacuums and uses standard costing. manufacturing overhead (both variable and fixed) is allocated to products on the basis of budgeted machine-hours. in 2014, budgeted fixed manufacturing overhead cost was $20,000. actual manufacturing overhead was $23,180 fixed. additional information about the company’s performance report is as follows: • variable manufacturing overhead spending variance $2,282 f • variable manufacturing overhead efficiency variance $2,478 f • production-volume variance $4,000 f if the company uses a denominator level of 1,000 hours and a variable overhead rate of $42 per machine hour, the actual variable overhead incurred during the year was:

The lee family is looking to buy a house in one of two suburban areas just outside of a major city, and air quality is a top priority for them. overall air quality is calculated by taking measures in 100 locations within each suburb and then calculating a measure of central tendency. in one suburb, there is a major bus station that creates very poor air quality at its location but has no impact in the surrounding parts of the suburb. in this situation, which measure of overall suburb air quality would be most useful?

At which stage would you introduce your product to the market at large? a. development stage b. market testing stage c. commercialization stage d. ideation stage

1. all other things equal, according to the law of demand, when the price of a good falls, the demand for the good falls the demand for the good rises the quantity demanded of the good falls the quantity demanded of the good rises 2. when a market is in equilibrium, the quantity of the good that buyers are willing and able to buy exactly equals the quantity that sellers are willing and able to sell cannot be determined is less than the quantity that sellers are willing and able to sell is greater than the quantity that sellers are willing and able to sell 3. which of the following factors does not influence the demand for a good or service? consumer (buyer) income the price of related goods the number of sellers buyer expectations 4. when the number of sellers in a market increases, demand rises supply rises the price rises, all else equal the number of buyers falls