Erie company manufactures a mobile fitness device called the jogging mate. the company uses standards to control its costs. the labor standards that have been set for one jogging mate are as follows: standardhours standard rateper hour standardcost27 minutes $5.60 $2.52during august, 9,300 hours of direct labor time were needed to make 19,200 units of the jogging mate. the direct labor cost totaled $51,150 for the month. required: 1. what is the standard labor-hours allowed (sh) to makes 19,200 jogging mates? 2. what is the standard labor cost allowed (sh × sr) to make 19,200 jogging mates? 3. what is the labor spending variance? 4. what is the labor rate variance and the labor efficiency variance? 5. the budgeted variable manufacturing overhead rate is $4.50 per direct labor-hour. during august, the company incurred $44,640 in variable manufacturing overhead cost. compute the variable overhead rate and efficiency variances for the month.

When an interest-bearing note comes due and is uncollectible, the journal entry includes debiting

Reqwest llc agrees to sell one hundred servers to social media networks, inc. the servers, which social media networks expressly requires to have certain amounts of memory, are to be shipped “f. o.b. social media networks distribution center in tampa, fl.” when the servers arrive, social media networks rejects them and informs reqwest, claiming that the servers do not conform to social media networks’ memory requirement. a few hours later, the servers are destroyed in a fire at social media networks’ distribution center. will reqwest succeed in a suit against social media networks for the cost of the goods?

Afinancial institution, the thriftem bank, is in the process of formulating its loan policy for the next quarter. a total of $12 million is allocated for that purpose. being a full-service facility, the bank is obligated to grant loans to different clientele. the following table provides the types of loans, the interest rate charged by the bank, and the possibility of bad debt as estimated from past experience. type of loaninterest rateprobability of bad debtpersonal.140.10car.130.07home.1 20.03farm.125.05commercial.100.02 bad debts are assumed unrecoverable and hence produce no interest revenue either. competition with other financial institutions in the area requires that the bank allocate at least 40% of the total funds to farm and commercial loans. to assist the housing industry in the region, home loans must equal at least 50% of the personal, car, and home loans. the bank also has a stated policy specifying that the overall ratio for bad debts on all loans may not exceed .04. formulate this problem as a linear program. define your variables clearly and write all the constraints explaining the significance of each.