Deere is a global manufacturer and distributor of agricultural, construction, and forestry equipment. Suppose it reported the following information in its 2017 annual report. (In millions) 2017 2016 Inventories (LIFO) $2,267 $2,999
Current asset 32,910
Current liabilities 11,711
LIFO reserve 1,389
Cost of goods sold 15,661
Compute Deere inventory turnover for 2017 ratio.

Skychefs, inc. prepares in-flight meals for a number of major airlines. one of the company's products is grilled salmon in dill sauce with baby new potatoes and spring vegetables. during the most recent week, the company prepared 4000 of these meals using 960 direct labor hours. the company paid these direct labor workers a total of $19,200 for this work, or $20.00 per hour. according to standard cost card for this meal, it should require 0.25 direct labour-hours at a cost of $19.75 per hour.1. what is the standard labor-hours allowed (sh) to prepare 4,000 meals? 2. what is the standard labor cost allowed (sh x sr) to prepare 4,000 meals? 3. what is the labor spending variance? 4. what is the labor rate variance and the labor efficiency variance?