Holly owns a fruit smoothie shop at the local mall. Each smoothie requires 3 divided by 4 pounds of mixed berries, which are expected to cost $ 1 per pound during the summer months. Shop employees are paid $ 21 per hour. Variable overhead consists of utilities and supplies. The variable overhead rate is $ 0.04 per minute of DL time. Each smoothie should require 9 minutes of DL time. Required:1. What is the standard cost of direct materials for each smoothie? 2. What is the standard cost of direct labor for each smoothie? 3. What is the standard cost of variable overhead for each smoothie?

Martha is the head of the accounts department in a small manufacturing company. the company follows the accrual-basis method of accounting. it recently purchased raw materials worth $5,000 from its vendors. however, the company paid only $3,000 to its vendors. it plans to pay the remaining amount after three months. considering this information, which entry should martha record in the company’s accounts? a. $5,000 as accounts receivable b. $3,000 as accounts payable c. $2,000 as accounts payable d. $2,000 as accounts receivable

2. the language of price controls consider the market for rental cars. suppose that, in a competitive market without government regulations, the equilibrium price of rental cars is $58 per day, and employees at car rental companies earn $19.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect there are many teenagers who would like to work at car rental companies, but the minimum-wage law sets the hourly wage at $23.00. the government has instituted a legal minimum price of $87 per day for rental cars. the government prohibits car rental companies from renting out rental cars for more than $87 per day.

Match the different financial task to their corresponding financial life cycle phases