The following data are given for Taylor Company: Budgeted production 1,000 units
Actual production 980 units
Materials:
Standard price per pound $2.00
Standard pounds per completed unit 12
Actual pounds purchased and used in production 11,800
Actual price paid for materials $23,000
Labor:
Standard hourly labor rate $14.00 per hour
Standard hours allowed per completed unit 4.5
Actual labor hours worked 4,560
Actual total labor costs $62,928

Compute the direct materials price and quantity variances for Taylor Company. Also, compute the direct labor rate and efficiency variances for Taylor Company. Must use tabular formats for both variance models.

Aplant manager is considering buying additional stamping machines to accommodate increasing demand. the alternatives are to buy 1 machine, 2 machines, or 3 machines. the profits realized under each alternative are a function of whether their bid for a recent defense contract is accepted or not. the payoff table below illustrates the profits realized (in $000's) based on the different scenarios faced by the manager. alternative bid accepted bid rejected buy 1 machine $10 $5 buy 2 machines $30 $4 buy 3 machines $40 $2 refer to the information above. assume that based on historical bids with the defense contractor, the plant manager believes that there is a 65% chance that the bid will be accepted and a 35% chance that the bid will be rejected. what is the expected value under perfect information (evpi)?