Packaging solutions corporation manufactures and sells a wide variety of packaging products. performance reports are prepared monthly for each department. the planning budget and flexible budget for the production department are based on the following formulas, where q is the number of labor-hours worked in a month: cost formulasdirect labor $16.10qindirect labor $4,200 + $1.60qutilities $5,700 + $0.50qsupplies $1,300 + $0.10qequipment depreciation $18,200 + $2.90qfactory rent $8,000property taxes $2,700factory administration $13,300 + $0.70qthe production department planned to work 4,400 labor-hours in march; however, it actually worked 4,200 labor-hours during the month. its actual costs incurred in march are listed below: actual cost incurred in marchdirect labor $65,940 indirect labor $10,100 utilities $8,190 supplies $1,930 equipment depreciation $29,800 factory rent $8,400 property taxes $2,700 factory administration $15,470required: 1. prepare the production department’s planning budget for the month.2. prepare the production department’s flexible budget for the month.3. prepare the production department’s flexible budget performance report for march, including both the spending and activity variances.

Alandowner entered into a written agreement with a real estate broker whereby the broker would receive a commission of 10% of the sale price if he procured a "ready, willing, and able buyer" for the landowner's property and if the sale actually proceeded through closing. the broker found a buyer who agreed in writing to buy the property from the landowner for $100,000, the landowner's asking price. the buyer put up $6,000 as a down payment. the agreement between the landowner and the buyer contained a liquidated damages clause providing that, if the buyer defaulted by failing to tender the balance due of $94,000 at the closing date, damages would be 10% of the purchase price. the landowner included that clause because she was counting on using the proceeds of the sale for a business venture that would likely net her at least $10,000. the buyer became seriously ill and defaulted. when he recovered, he demanded that the landowner return his $6,000, and the landowner refused. the broker also demanded the $6,000 from the landowner and was refused. the broker and the buyer filed separate suits against the landowner, with the buyer pleading impossibility of performance. the two cases are consolidated into a single case. how should the court rule as to the disposition of the $6,000?

Pam is a low-risk careful driver and fran is a high-risk aggressive driver. to reveal their driver types, an auto-insurance company a. refuses to insure high-risk drivers b. charges a higher premium to owners of newer cars than to owners of older cars c. offers policies that enable drivers to reveal their private information d. uses a pooling equilibrium e. requires drivers to categorize themselves as high-risk or low-risk on the application form

Because this market is a monopolistically competitive market, you can tell that it is in long-run equilibrium by the fact thatmr=mc at the optimal quantity for each firm. furthermore, a monopolistically competitive firm's average total cost in long-run equilibrium isless than the minimum average total cost. true or false: this indicates that there is a markup on marginal cost in the market for engines. true false monopolistic competition may also be socially inefficient because there are too many or too few firms in the market. the presence of the externality implies that there is too little entry of new firms in the market.