The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August. Costs Actual labor rate $14 per hour Actual materials price $260 per ton Standard labor rate $13.50 per hour Standard materials price $262 per ton Quantities Actual hours incurred and used 4,600 hours Actual quantity of materials purchased and used 1,800 tons Standard hours used 4,640 hours Standard quantity of materials used 1,780 tons (a) Compute the total, price, and quantity variances for materials and labor.

1. list five staple convenience goods that you or your household buys on a regular basis. (you do not need to use complete sentences. 2.5 points) 2. list three impulse convenience goods that you or someone you know has purchased. (you do not need to use complete sentences. 2.5 points) 3. describe a shopping good that you or someone you know purchased. what kind of research did you or that person do before buying the product? (1-5 sentences. 3.0 points) 4. choose an example of a company you could start, and decide which business structure would make the most sense for that type of company (sole proprietorship, partnership, llc, c corporation, s corporation, or nonprofit corporation). explain why this structure would be good for this type of company. give at least 3 reasons. (3-6 sentences. 6.0 points) 5. if you were starting a new business, describe at least three departments to the company that you would need right away. why are these departments so important? (1-5 sentences. 3.0 points) 6. describe a product that you think has saturated its market. what makes you think it has saturated its market? (1-5 sentences. 3.0 points)