Gepp manufacturing company produces a single product. the following data apply to the standard cost of materials and labor associated with making the product: materials quantity per unit 1 pound materials price $ 12.50 per pound labor quantity per unit 2 hours labor price $ 22.50 per hour during the year, the company made 1,800 units of product. at the end of the year, the following variances had been calculated. materials usage variance $ 1,000 favorable materials price variance $ 860 unfavorable labor usage variance $ 4,500 unfavorable labor price variance $ 7,125 favorable required determine the actual amount of materials used. determine the actual price paid per pound for materials. (round your answer to 2 decimal places.) determine the actual labor hours used. determine the actual labor price per hour. (round your answer to 2 decimal places.)

Which of the following statements is correct? a) one drawback of forming a corporation is that it generally subjects the firm to additional regulationsb) one drawback of forming a corporation is that it subjects the firms investors to increased personal liabilitiesc) one drawback of forming a corporation is that it makes it more difficult for the firm to raise capitald) one advantage of forming a corporation is that it subjects the firm's investors to fewer taxese) one disadvantage of forming a corporation is that it is more difficult for the firm's investors to transfer their ownership interests

Responsible for setting the goals and planning for the future as well as leading and controlling the work of others. out the decisions of top management. often responsible for various departments such as the production, marketing, and accounting departments. process or function of planning organizing leading and controlling. the resources arranged in an orderly and functional way to accomplish goals and objectives. the company on track and making sure goals are met. for the daily operations of a business. examples of this are supervisors, office managers, and crew leaders. act or process of creating goals and objectives as well as the strategies to meet them. for the daily operations of a business. examples of this are supervisors, office managers, and crew leaders. how the firm is structured and who is in charge of whom. direction and vision

Choose the statement that is incorrect. a. search activity occurs only in markets where there is a shortage. b. when a price is regulated and there is a shortage, search activity increases. c. the time spent looking for someone with whom to do business is called search activity. d. the opportunity cost of a good is equal to its price plus the value of the search time spent finding the good.