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Labour Variances & Labour Efficiency
Standard labor hours per unit of output: 2.8
standard labor rate per hour: 11.50
operations for the last month:
actual hours worked: 6900
actual total labor cost: 80,385
actual output: 2300 units
What is the labor variance for the month?
What is the labor efficiency rate for the month?
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Shelly's preferences for consumption and leisure can be expressed as. This utility function implies that shelly's marginal utility of leisure is C-200 and her marginal utility of consumption is L-80.
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Media Corp. has determined that its customer base is divided into two groups: sports fans and news junkies. There are one million sports fans and one million news junkies.
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Discuss how your answer relates to the income and substitution effects of a price change from Knoxville food prices to Berkeley food prices.
Consolidated Drugs, Inc. has spent $4 million developing and testing a new anti-aging drug. Management now estimates that it will cost $2 million to produce and market this new product.
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