Standard quantities allowed of labor and materials miel company produces ready-to-cook oatmeal. each carton of oatmeal requires 10 ounces of rolled oats per carton (the unit quantity standard) and 0.04 labor hour (the unit labor standard). during the year, 600,000 cartons of oatmeal were produced. required:
1. calculate the total amount of oats allowed for the actual output. ounces
2. calculate the total amount of labor hours allowed for the actual output. hours

"in my opinion, we ought to stop making our own drums and accept that outside supplier's offer," said wim niewindt, managing director of antilles refining, n. v., of aruba. "at a price of $21 per drum, we would be paying $4.70 less than it costs us to manufacture the drums in our own plant. since we use 70,000 drums a year, that would be an annual cost savings of $329,000." antilles refining's current cost to manufacture one drum is given below (based on 70,000 drums per year):

Describe what fixed costs and marginal costs mean to a company.

Nba all-star baron davis and his school friend, cash warren, premiered their first movie "made in america" at the sundance festival in january 2008. the movie, based on gang activity in south central los angeles, received good reviews.    source: the new york times, february 24, 2008         draw baron davis's ppf. label it ppfdavis. draw your own ppf. label it ppfmine.