The auto repair shop of Quality Motor Company uses standards to control the labor time and labor cost in the shop. The standard labor cost for a motor tune-up is given below:

Job Standard Hours Standard Rate Standard Cost
Motor tune-up 1.50 $6.20 $9.30

The record showing the time spent in the shop last week on motor tune-ups has been misplaced. However, the shop supervisor recalls that 230 tune-ups were completed during the week, and the controller recalls the following variance data relating to tune-ups:

Labor rate variance $900 F
Labor spending variance $249 F
Required:

1. Determine the number of actual labor-hours spent on tune-ups during the week.
2. Determine the actual hourly rate of pay for tune-ups last week.

The budgeted overhead cost for the year is $1,260,000. the company has estimated that one-third of the budgeted overhead cost is incurred to support the firm's two partners, and two-thirds goes to support the staff accountants. the current audit bid for monoco industries requires $18,000 in direct partner professional labor, $30,000 in direct staff accountant professional labor, $5,000 in direct material. what is the overhead rate based on a single cost driver (rounded to the nearest percentage)?

Michigan mattress company is considering the purchase of land and the construction of a new plant. the land, which would be bought immediately (at t = 0), has a cost of $100,000 and the building, which would be erected at the end of the first year (t = 1), would cost $500,000. it is estimated that the firm's afterminustax cash flow will increase by $100,000 starting at the end of the second year, and that this incremental flow would increase at a 10 percent rate annually over the next 10 years. what is the approximate payback period?

The market price of cheeseburgers in a college town increased recently, and the students in an economics class are debating the cause of the price increase. some students suggest that the price increased because the price of beef, an important ingredient for making cheeseburgers, has increased. other students attribute the increase in the price of cheeseburgers to a recent increase in college student enrollment.1. the first group of students thinks the increase in the price of cheeseburgers is due to the fact that the price of beef, an important ingredient for making cheeseburgers, has increased. (what happened to demand and supply, shift to the right or left)2. the second group of students attributes the increase in the price of cheeseburgers to the increase in college student enrollment. (what happens to demand and supply, shift to the right or left)3. suppose that both of the events you analyzed above are partly responsible for the increase in the price of cheeseburgers. based on your analysis of the explanations offered by the two groups of students, how would you figure out which of the possible causes was the dominant cause of the increase in the price of cheeseburgers? (choose a, b,c, or d)a)if the price increase was small, then the supply shift in the market for cheeseburgers must have been larger than the demand shift.b)if the equilibrium quantity of cheeseburgers decreases, then the demand shift in the market for cheeseburgers must have been larger than the supply shift.c)if the equilibrium quantity of cheeseburgers decreases, then the supply shift in the market for cheeseburgers must have been larger than the demand shift.d)whichever change occurred first must have been the primary cause of the change in the price of cheeseburgers.