The great giant corp. has a management contract with its newly hired president. the contract requires a lump sum payment of $24,800,000 be paid to the president upon the completion of her first 9 years of service. the company wants to set aside an equal amount of funds each year to cover this anticipated cash outflow. the company can earn 8 percent on these funds. how much must the company set aside each year for this purpose?

Turrubiates corporation makes a product that uses a material with the following standards standard quantity 8.0 liters per unit standard price $2.50 per liter standard cost $20.00 per unit the company budgeted for production of 3,800 units in april, but actual production was 3,900 units. the company used 32,000 liters of direct material to produce this output. the company purchased 20,100 liters of the direct material at $2.6 per liter. the direct materials purchases variance is computed when the materials are purchased. the materials quantity variance for april is: