Answer:
The answer to the question is attached with the document.
Answer:
Revenue variance $1800<u> </u>Favorable
Explanation:
<em>Revenue variance is the difference between the actual revenue and the standard revenue from the actual units sold. It is can be determined as follows:</em>
Revenue variance
$
Revenue from 32 units (32× 3,800) 121,600
Actual revenue <u>123,400</u>
Revenue variance <u> 1800 </u>Favorable
Revenue variance $1800<u> </u>Favorable
C. Charles should forgo renter's insurance if the premiums will quickly overtake the value of his belongings.
Renter's insurance is a useful and valuable tool to protect tenants against loss or damage of their property, and is a wise purchase in most cases. However, if you are paying more every month in your insurance premiums than the total value of the goods you are protecting, the insurance may no longer be worth the cost.
Answer:
The correct answer is option E.
Explanation:
The government can intervene in the market when it becomes inefficient. Though generally, markets are efficient, inefficiencies arise because of asymmetric information, moral hazard and, externalities.
The government can intervene in the market in case of positive and negative externalities. In case the consumers do not have perfect information about the qualities of a product, the government can intervene to eradicate inefficiencies.
Answer and Explanation:
The computation is shown below:
For Direct labor rate variance, it is
= (Actual rate - Standard rate) × Actual hour
= ($14.5 - $14.8) × 2,430 hours
= $729 favorable
For Time variance, it is
= (Actual hours - standard hours) × standard rate
= (2,430 hours - 2,390 hours) × $14.80
= $592 unfavorable
So, the Total labour cost variance is
= $729 favorable + $592 unfavorable
= $137 favorable