Peterson Foods (PF) manufactures pumpkin scones. For January 2020, it budgeted $20,000 to purchase 12,500 pounds of pumpkin. PF actually purchased 13,000 pounds at $1.72 per pound. Peterson Foods started this year with 2,000 pounds of pumpkin. At the end of January, there were 4,000 pounds of pumpkin left in raw materials inventory. PF budgeted to make 50,000 scones using 12500 pounds of pumpkin but actually made 48,000 scones. Required:
a. Compute the flexible-budget variance.
b. Compute the price and efficiency variances.
c. Comment on the results for requirements 1 and 2 and provide a possible explanation for them.

What are the main advantages and disadvantages of organizing a firm as a c corporation? the advantages are: (select all the choices that apply.) a. there is no limit on the number of owners a c corporation may have, thus allowing the corporation to raise substantial amounts of capital. b. the life of the business can continue beyond the death of any of the owners. c. the corporation can use the assets of the owners to pay for corporate liabilities. this attracts smaller investors to the corporation. d. the liability of the owners is limited to the amount of their investment in the firm. the disadvantages are: (select all the choices that apply.) a. income to a c corporation is subject to double taxation, once at the corporate level and again when received by the owners in the form of a dividend. b. the life of the business usually ends with the death of any of the owners. c. the c corporation is more complicated and more expensive to set up than other business entities. d. corporate liabilities can be passed on to the share

Match each of the terms below with an example that fits the term. a. fungibility the production of gasoline b. inelasticity the switch from coffee to tea c. non-excludability the provision of national defense d. substitution the demand for cigarettes

Most states have licensing registration requirements for child care centers and family daycare homes. these usually include minimum standard for operation. which of the following would you most likely find required in a statement of state licensing standards for child care centers?