Moonscape has just completed an initial public offering. the firm sold 6 million shares at an offer price of $6 per share. the underwriting spread was $0.40 a share. the price of the stock closed at $9.00 per share at the end of the first day of trading. the firm incurred $100,000 in legal, administrative, and other costs. what were flotation costs as a fraction of funds raised? fraction of funds raised __ %.

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?