Exercise 210 Purvis Manufacturing, which produces a singleproduct, has prepared the following standard cost sheet for oneunit of the product. Direct materials (6 pounds at $2 per pound)$12 Direct labor (2 hours at $12 per hour) $24 During the month ofApril, the company manufactures 300 units and incurs the followingactual costs. Direct materials purchased and used (1,850 pounds)$4,070 Direct labor (620 hours) $7,130 Compute the total, price, and quantity variances for materials and labor. Identify whetherthe variance is favorable or unfavorable?

Materials Labor TotalVariance $ $
Price Variance $ $
Quantity Variance $ $

Acompany factory is considered which type of resource a. land b. physical capital c. labor d. human capital

Because this market is a monopolistically competitive market, you can tell that it is in long-run equilibrium by the fact thatmr=mc at the optimal quantity for each firm. furthermore, a monopolistically competitive firm's average total cost in long-run equilibrium isless than the minimum average total cost. true or false: this indicates that there is a markup on marginal cost in the market for engines. true false monopolistic competition may also be socially inefficient because there are too many or too few firms in the market. the presence of the externality implies that there is too little entry of new firms in the market.

Xinhong company is considering replacing one of its manufacturing machines. the machine has a book value of $39,000 and a remaining useful life of 5 years, at which time its salvage value will be zero. it has a current market value of $49,000. variable manufacturing costs are $33,300 per year for this machine. information on two alternative replacement machines follows. alternative a alternative b cost $ 115,000 $ 117,000 variable manufacturing costs per year 22,900 10,100 1. calculate the total change in net income if alternative a and b is adopted. 2. should xinhong keep or replace its manufacturing machine