Tharaldson Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct materials 5.8 ounces $ 3.00 per ounce $ 17.40 Direct labor 0.5 hours $ 12.00 per hour $ 6.00 Variable overhead 0.5 hours $ 5.00 per hour $ 2.50 The company reported the following results concerning this product in June. Originally budgeted output 3,800 units Actual output 3,400 units Raw materials used in production 20,800 ounces Purchases of raw materials 21,900 ounces Actual direct labor-hours 520 hours Actual cost of raw materials purchases $ 42,500 Actual direct labor cost $ 13,800 Actual variable overhead cost $ 3,900 The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The labor efficiency variance for June is: rev: 10_25_2017_QC_CS-106922 Garrison 16e Rechecks 2017-10-31 Multiple Choice $14,160 F $16,560 U $14,160 U

What does the consumer price index measure? a. the change in prices of all goods and services over time b. the change in prices of specific goods and services over time c. the change in prices of final goods and services over time

Which of the following best explains how the invention of money affected the barter system? a. the invention of money supplemented the barter system by providing a nonperishable medium of exchange b. the invention of money completely replaced the barter system with a free-market system c. the invention of money had no effect on the barter system d. the invention of money drastically reduced the value of goods used in the barter system 2b2t

During the first month of operations, martinson services, inc., completed the following transactions: jan 2 martinson services received $65,000 cash and issued common stock to the stockholders. 3 purchased supplies, $1,000, and equipment, $12,000, on account. 4 performed services for a customer and received cash, $5,500. 7 paid cash to acquire land, $39,000. 11 performed services for a customer and billed the customer, $4,100. martinson expects to collect within one month 16 paid for the equipment purchased january 3 on account. 17 paid for newspaper advertising, $600. 18 received partial payment from customer on account, $2,000. 22 paid the water and electricity bills, $430. 29 received $2,600 cash for servicing the heating unit of a customer. 31 paid employee salary, $2,900. 31 declared and paid dividends of $1,800. requirements 1. record each transaction in the journal. key each transaction by date. explanations are not required. 2. post the transactions to the t-accounts, using transaction dates as posting references. label the ending balance of each account bal, as shown in the chapter. 3. prepare the trial balance of martinson services, inc., at january 31 of the current year. 4. mark martinson, the manager, asks you how much in total resources the business has to work with, how much it owes, and whether january was profitable (and by how much)?