g Jackson Industries uses a standard cost system in which direct materials inventory is carried at standard cost. Jackson has established the following standards for one unit of product: Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct materials 4 pounds $4.70 per pound $18.80 Direct labor 2.60 hours $7.00 per hour $18.20 During May, Jackson purchased 107,250 pounds of direct material at a total cost of $525,525. The total factory wages for May were $419,300, 90 percent of which were for direct labor. Jackson manufactured 23,000 units of product during May using 88,600 pounds of direct material and 60,300 direct labor-hours. The price variance for the direct material acquired by Jackson Industries during May is:

American gas products manufactures a device called a can-emitor that empties the contents of old aerosol cans in 2 to 3 seconds. this eliminates having to dispose of the cans as hazardous wastes. if a certain paint company can save $75,000 per year in waste disposal costs, how much could the company afford to spend now on the can-emitor if it wants to recover its investment in 3 years at an interest rate of 20% per year?

Electronics assembly inc. is a contract manufacturer that assembles consumer electronics for a number of companies. currently, the operations manager is assessing the capacity requirements as input into a bid for a job to assemble cell phones for a major global company. the company would assemble three models of cell phones in the same assembly cell. setup time between the phones is negligible. electronics assembly inc. operates two 8-hour shifts for 275 days per year. cell phone demand forecast (phones/year) processing time (minutes/phone) mars 47,000 19.8 saturn 35,000 20.7 neptune 7,500 16.2 a. calculate total capacity required by line. b. determine the total operating time available. c. calculate the total number of assembly cells. (round up your answer to the next whole number.)

Why has the free enterprise system been modified to include some government intervention?