Ketone inc. produces small engines. for last year's operations, the following data were gathered: units produced 110,000 direct labor 120,000 hours @ $10.00 actual variable overhead $1,000,000 ketone inc. employs a standard costing system. during the year, a variable overhead rate of $5.00 was used. the labor standard requires 1 hour per unit produced. the variable overhead spending and efficiency variances are: a.$200,000 u and $40,000 f. b.$150,000 u and $24,000 f. c.$176,000 u and $19,000 u. d.$400,000 u and $50,000 u. e. none of these choices are correct.

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)?

Why has the free enterprise system been modified to include some government intervention?

Suppose farmer lane grows and sells cotton in a perfectly competitive industry. the market price of cotton is $1.64 per kilogram, and his marginal cost of production is $1.44 per kilogram, which increases with output. assume farmer lane is currently earning a profit. can farmer lane do anything to increase his profit in the short run? farmer lane: a. cannot do anything to increase his profit. b. may or may not be able to increase his profit. c. can increase his profit by raising his price. d. can increase his profit by producing more output. e. can increase his profit by shutting down.