Juenemann Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day. During December, the kennel budgeted for 3,800 tenant-days, but its actual level of activity was 3,770 tenant-days. The kennel has provided the following data concerning the formulas used in its budgeting and its actual results for December: Data used in budgeting:

Fixed element per month Variable element per tenant-day
Revenue $33.90
Wages and salaries $2,900 $7.60
Food and supplies 600 13.40
Facility expenses 9,000 4.00
Administrative expenses 7,500 0.30
Total expenses $20,000 $25.30

Actual results for December:

Revenue $132,193
Wages and salaries $32,662
Food and supplies $48,918
Facility expenses $24,040
Administrative expenses $8,931

The spending variance for facility expenses in December would be closest to:

a. $1,040 U
b. $1,040 F
c. $1,160 F
d. $1,160 U

Norton manufacturing expects to produce 2,900 units in january and 3,600 units in february. norton budgets $20 per unit for direct materials. indirect materials are insignificant and not considered for budgeting purposes. the balance in the raw materials inventory account (all direct materials) on january 1 is $38,650. norton desires the ending balance in raw materials inventory to be 10% of the next month's direct materials needed for production. desired ending balance for february is $51,100. what is the cost of budgeted purchases of direct materials needed for january? $58,000 $65,200 $26,550 $25,150

Suppose that xtel currently is selling at $40 per share. you buy 500 shares using $15,000 of your own money, borrowing the remainder of the purchase price from your broker. the rate on the margin loan is 8%. a. what is the percentage increase in the net worth of your brokerage account if the price of xtel immediately changes to (a) $44; (b) $40; (c) $36? (leave no cells blank - be certain to enter "0" wherever required. negative values should be indicated by a minus sign. round your answers to 2 decimal places.) b. if the maintenance margin is 25%, how low can xtel’s price fall before you get a margin call? (round your answer to 2 decimal places.) c. how would your answer to requirement 2 would change if you had financed the initial purchase with only $10,000 of your own money? (round your answer to 2 decimal places.) d. what is the rate of return on your margined position (assuming again that you invest $15,000 of your own money) if xtel is selling after one year at (a) $44; (b) $40; (c) $36? (negative values should be indicated by a minus sign. round your answers to 2 decimal places.) e. continue to assume that a year has passed. how low can xtel’s price fall before you get a margin call? (round your answer to 2 decimal places.)

Which of the following is an example of a production quota? a. the government sets an upper limit on the quantity that each dairy farmer can produce. b. the government sets a price floor in the market for dairy products. c. the government sets a lower limit on the quantity that each dairy farmer can produce. d. the government guarantees to buy a specified quantity of dairy products from farmers.