Marvel parts, inc., manufactures auto accessories. one of the company’s products is a set of seat covers that can be adjusted to fit nearly any small car. the company has a standard cost system in use for all of its products. according to the standards that have been set for the seat covers, the factory should work 1,060 hours each month to produce 2,120 sets of covers. the standard costs associated with this level of production are: total per set of covers direct materials $ 43,460 $ 20.50 direct labor $ 9,540 4.50 variable manufacturing overhead (based on direct labor-hours) $ 4,664 2.20 $ 27.20 during august, the factory worked only 500 direct labor-hours and produced 2,200 sets of covers. the following actual costs were recorded during the month: total per set of covers direct materials (8,000 yards) $ 44,000 $ 20.00 direct labor $ 10,340 4.70 variable manufacturing overhead $ 5,500 2.50 $ 27.20 at standard, each set of covers should require 2.5 yards of material. all of the materials purchased during the month were used in production. required: 1. compute the materials price and quantity variances for august. 2. compute the labor rate and efficiency variances for august. 3. compute the variable overhead rate and efficiency variances for august.

Nell and kirby are in the process of negotiating their divorce agreement. what should be the tax consequences to nell and kirby if the following, considered individually, became part of the agreement? a. in consideration for her one-half interest in their personal residence, kirby will transfer to nell stock with a value of $200,000 and $50,000 of cash. kirby's cost of the stock was $150,000, and the value of the personal residence is $500,000. they purchased the residence three years ago for $300,000.nell's basis for the stock is $ xkirby's basis in the house is $ xb. nell will receive $1,000 per month for 120 months. if she dies before receiving all 120 payments, the remaining payments will be made to her estate. the payments (qualify, do not qualify) as alimony and are (included in, excluded from) nell's gross income as they are received. c. nell is to have custody of their 12-year-old son, bobby. she is to receive $1,200 per month until bobby (1) dies or (2) attains age 21 (whichever occurs first). after either of these events occurs, nell will receive only $300 per month for the remainder of her life.$ x per month is alimony that is (included in, excluded from) nell's gross income, and the remaining $ x per month is considered (child support, property settlement) and is (nontaxable, taxable) to nell.