During May, Joliet Fabrics Corporation manufactured 520 units of a special multilayer fabric with the trade name Stylex. The following information from the Stylex production department also pertains to May. Direct material purchased: 18,200 yards at $1.40 per yard $25,480
Direct material used: 9,700 yards at $1.40 per yard 13,580
Direct labor: 2,300 hours at $9.17 per hour 21,091

The standard prime costs for one unit of Stylex are as follows:
Direct material: 20 yards at $1.37 per yard $27.40
Direct labor: 3 hours at $7.00 per hour 21.00
Total standard prime cost per unit of output $48.40

Required:
Compute the following variances for the month of May.

1. Direct-material price variance
2. Direct-material quantity variance
3. Direct-material purchase price variance

technology is the application of knowledge and tools to solve problems and perform tasks more efficiently. t/f

Suppose that two countries, britain and the u. s. produce just one good - beef. suppose that the price of beef in the u. s. is $2.80 per pound, and in britain it is £3.70 per pound. according to ppp theory, what should the $/£ spot exchange rate be? suppose the price of beef is expected to rise to $3.10 in the u. s. and to £4.65 in britain. what should be the one year forward $/£ exchange rate?

Lipman auto parts, a family-owned auto parts store, began january with $10,300.00 in cash. management forecasts that collections from credit customers will be $11,400.00 in january and $14,800.00 in february. the store is scheduled to receive $5,000.00 in cash on a business note receivable in january. projected cash payments include inventory purchases ($13,000.00 in january and $13,600.00 in february) and operating expenses ($2,700.00 each month). lipman auto parts' bank requires a $10,000.00 minimum balance in the store's checking account. at the end of any month when the account balance dips below $10,000.00, the bank automatically extends credit to the store in multiples of $1,000.00. lipman auto parts borrows as little as possible and pays back loans in quarterly installments of $2,000.00, plus 4 percent interest on the entire unpaid principal. the first payment occurs three months after the loan.