Huong is opening an international food store. though her products will span the globe, she wants to focus on items from the middle east. she wants to be the firm's only general partner, but she is trying to get several friends to participate as limited partners. it's apparent huong wants to
a. limit her personal liability to the amount she personally invests in the company.
b. keep all of the firm's profits.
c. obtain a strong financial base for the firm while maintaining personal control over the firm's management.
d. meet the legal requirements of the uniform partnership act.

Oerstman, inc. uses a standard costing system and develops its overhead rates from the current annual budget. the budget is based on an expected annual output of 120,000 units requiring 480,000 direct labor hours.(practical capacity is 500,000 hours)annual budgeted overhead costs total $772,800, of which $556,800 is fixed overhead. a total of 119,300 units, using 478,000 direct labor hours, were produced during the year. actual variable overhead costs for the year were $260,400 and actual fixed overhead costs were $555,450.required: 1. compute the fixed overhead spending variance and indicate if favorable or unfavorable.2. compute the fixed overhead volume variance and indicate if favorable or unfavorable.