The actual cost of direct labor per hour is $ 17.00 and the standard cost of direct labor per hour is $ 12.50. The direct labor hours allowed per finished unit is 0.5 hour. During the current period, 4 comma 900 units of finished goods were produced using 2 comma 500 direct labor hours. How much is the direct labor efficiency variance?

Tiana daniels enterprise’s trial balance as at december 31, 2016 did not balance. on february 15, 2017 the following errors were detected: errorsi. water rates had been undercast by $2, 000.  ii. a cheque paid to yvonne walch of $2, 680 had been posted to the credit side of her account.  iii. discount received total of $1, 260 had been posted to the debit side of the discount allowed account as $1, 620.  iv. rent paid in the amount of $24, 000 had been posted to the credit of the rent received account.  v. wayne returned goods valuing $1, 680 to daniels enterprise but had been completely omitted from the books.    required: 1. prepare the journal entries to correct the errors.  (narrations required)                    14.5 marks  2.    prepare the suspense account showing clearly the original trial balance error.          8 marks

Your take on decision making process

Because the demand for wheat tends to be inelastic. true or false