Eliezrie corporation makes a product with the following standard costs: standard quantity or hours standard price or rate standard cost per unit direct materials 6.5 kilos $1.00 per kilo $6.50 direct labor 0.3 hours $10.00 per hour $3.00 variable overhead 0.3 hours $4.00 per hour $1.20 in january the company's budgeted production was 7,400 units but the actual production was 7,500 units. the company used 45,580 kilos of the direct material and 2,030 direct labor-hours to produce this output. during the month, the company purchased 48,500 kilos of the direct material at a cost of $53,350. the actual direct labor cost was $18,473 and the actual variable overhead cost was $7,714. the company applies variable overhead on the basis of direct labor-hours. the direct materials purchases variance is computed when the materials are purchased. the labor rate variance for january is:

Suppose that the world price of steel is $100 a ton, india does not trade internationally, and the equilibrium price of steel in india is $60 a ton. suppose that india now begins to trade internationally. the price of steel in india the quantity of steel produced in india a. does not change; does not change b. falls; increases c. falls; decreases d. rises; decreases e. rises; increases the quantity of steel bought by india india steel. a. increases; exports b. decreases; imports c. decreases; exports d. does not change; neither imports nor exports e. increases; imports

Ida sidha karya company is a family-owned company located on the island of bali in indonesia. the company produces a handcrafted balinese musical instrument called a gamelan that is similar to a xylophone. the gamelans are sold for $860. selected data for the company’s operations last year follow: units in beginning inventory 0 units produced 320 units sold 285 units in ending inventory 35 variable costs per unit: direct materials $ 135 direct labor $ 355 variable manufacturing overhead $ 30 variable selling and administrative $ 15 fixed costs: fixed manufacturing overhead $ 64,000 fixed selling and administrative $ 27,000 the absorption costing income statement prepared by the company’s accountant for last year appears below: sales $ 245,100 cost of goods sold 205,200 gross margin 39,900 selling and administrative expense 31,275 net operating income $ 8,625 required: 1. under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of last year? 2. prepare an income statement for last year using variable costing. what is the amount of the difference in net operating income between the two costing methods?

At which stage would you introduce your product to the market at large? a. development stage b. market testing stage c. commercialization stage d. ideation stage