Peterson Foods (PF) manufactures pumpkin scones. For January 2020, it budgeted $20,000 to purchase 12,500 pounds of pumpkin. PF actually purchased 13,000 pounds at $1.72 per pound. Peterson Foods started this year with 2,000 pounds of pumpkin. At the end of January, there were 4,000 pounds of pumpkin left in raw materials inventory. PF budgeted to make 50,000 scones using 12500 pounds of pumpkin but actually made 48,000 scones. Required:
a. Compute the flexible-budget variance.
b. Compute the price and efficiency variances.
c. Comment on the results for requirements 1 and 2 and provide a possible explanation for them.

mark, a civil engineer, entered into a contract with david. as per the contract, mark agreed to design and build a house for david for a specified fee. mark provided david with an estimation of the total cost and the contract was mutually agreed upon. however, during construction, when mark increased the price due to a miscalculation on his part, david refused to pay the amount. this scenario is an example of a mistake.

Factors like the unemployment rate,the stock market,global trade,economic policy,and the economic situation of other countries have no influence on the financial status of individuals. true or false

Costco wholesale corporation operates membership warehouses selling food, appliances, consumer electronics, apparel and other household goods at 471 locations across the u.s. as well as in canada, mexico and puerto rico. as of its fiscal year-end 2005, costco had approximately 21.2 million members. selected fiscal-year information from the company's balance sheets follows. ($ millions). selected balance sheet data 2005 2004 merchandise inventories $4,015 $3,644 deferred membership income (liability) 501 454 (a) during fiscal 2005, costco collected $1,120 cash for membership fees. use the financial statement effectstemplate to record the cash collected for membership fees. (b) in 2005, costco recorded $46,347 million in merchandise costs (that is, cost of goods sold). record thistransaction in the financial statement effects template. (c) determine the value of merchandise that costco purchased during fiscal-year 2005. use the financial statementeffects template to record these merchandise purchases. assume all of costco's purchases are on credit.