Sharp company manufactures a product for which the following standards have been set:

standard quantity or hours standard price or rate standardcost
direct materials 3 feet $5 per foot $15
direct labor ? hours ? per hour $ ?
during march, the company purchased direct materials at a cost of $58,050, all of which were used in the production of 3,320 units of product. in addition, 4,900 hours of direct labor time were worked on the product during the month. the cost of this labor time was $39,150. the following variances have been computed for the month:

materials quantity variance $ 2,700 u
labor spending variance $ 690 f
labor efficiency variance $ 640 f

2. for direct labor:
a. compute the standard direct labor rate per hour. (do not round intermediate calculations.)
standard direct labor rate per hour
b. compute the standard hours allowed for the months production.
standard hours
c. compute the standard hours allowed per unit of product. (round your answer to 1 decimal place.)
standard hours (hours per unit)

Which of the following would not generally be a motive for a firm to hold inventories? a. to decouple or separate parts of the production process b. to provide a stock of goods that will provide a selection for customers c. to take advantage of quantity discounts d. to minimize holding costs e. all of the above are functions of inventory.

In terms of the "great wheel of science", statistics are central to the research process (a) only between the hypothesis phase and the observation phase (b) only between the observation phase and the empirical generalization phase (c) only between the theory phase and the hypothesis phase (d) only between the empirical generalization phase and the theory phase

Rate of return, standard deviation, coefficient of variation personal finance problem mike is searching for a stock to include in his current stock portfolio. he is interested in hi-tech inc.; he has been impressed with the company's computer products and believes hi-tech is an innovative market player. however, mike realizes that any time you consider a technology stock, risk is a major concern. the rule he follows is to include only securities with a coefficient of variation of returns below 1.07. mike has obtained the following price information for the period 2015 through 2018:hi-tech stock, being growth-oriented, did not pay any dividends during these 4 years. a. calculate the rate of return for each year, 2015 through 2018, for hi-tech stock. b. assume that each year's return is equally probable and calculate the average return over this time period. c. calculate the standard deviation of returns over the past 4 years. (hint: treat this data as a sample.) d. based on b and c determine the coefficient of variation of returns for the security. e. given the calculation in d what should be mike's decision regarding the inclusion of hi-tech stock in his portfolio?