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QuickyLube specalizes in the routine maintenance of automobiles, including changing a car's oil and other vital fluids as well as checking tire pressure and lights, replacing wiper blades, and the functioning of all filters. Management of QuickLube budgets to service 275 automobiles a week and has adopted the following labor standard for their technicians: 1/2 hr per car serviced at a wage rate of $12.50 per hr.
During the past week, QuickyLube actually serviced 210 automobiles. In addition, QuickyLube paid the technicians $1,470 for 140 hours worked.
a. What were QuickyLube's labor price and quantity variances for the most recent week?
b. What factor(S) could explain QuickyLube's labor variances?
Expalin how Wal-Mart could use the international bond market to finance the establishment of new outlets in foreign markets.
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Recently, a group of university students decided to incorporate for the purposes of selling a process to recycle the waste product from manufacturing cheese.
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What amount will be debited in the December 31, 2005 worksheet elimination for the machine account as a result fo this transaction?
Variable costs as a percentage of sales for Leamon Inc. are 75%, current sales are $600,000, and fixed costs are $110,000. How much will operating income change if sales increase by $40,000?
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A barn, destroyed by fire, had a basis of $40,000. The owner received $50,000 in insurance proceeds. The barn was replaced by another barn costing $45,000. The basis of the new barn is:
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