Retained earnings, December 31, 2019 $342,500 Cost of buildings purchased during 2020 49,000
Net income for the year ended December 31, 2020 55,900
Dividends declared and paid in 2020 32,000
Increase in cash balance from January 1, 2020, to December 31, 2020 22,000
Increase in long-term debt in 2020 44,500

Required:
From the above data, calculate the Retained Earnings balance as of December 31, 2020.

Skychefs, inc. prepares in-flight meals for a number of major airlines. one of the company's products is grilled salmon in dill sauce with baby new potatoes and spring vegetables. during the most recent week, the company prepared 4000 of these meals using 960 direct labor hours. the company paid these direct labor workers a total of $19,200 for this work, or $20.00 per hour. according to standard cost card for this meal, it should require 0.25 direct labour-hours at a cost of $19.75 per hour.1. what is the standard labor-hours allowed (sh) to prepare 4,000 meals? 2. what is the standard labor cost allowed (sh x sr) to prepare 4,000 meals? 3. what is the labor spending variance? 4. what is the labor rate variance and the labor efficiency variance?