Mr. smith put his laptop up for sale. he is aware of the fact that the laptop malfunctions frequently. however, none of the potential customers who came to buy the laptop were able to discover the problem and one of them actually bought it at a remunerative price. this occurred due to
a) the selective retention of information by sellers the presence of positive
b) externalities the presence of negative
c) externalities the presence of asymmetric information

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?