Russell and sons, a cpa firm, established the following standard labor cost data for completing what the firm referred to as a class 2 tax return. russell expected each class 2 return to require 4.0 hours of labor at a cost of $30 per hour. the firm actually completed 600 returns. actual labor hours averaged 3.6 hours per return and actual labor cost amounted to $34.50 per hour.
required: (a) determine the total labor variance and indicate whether it is favorable (f) or unfavorable (u).
(b) determine the labor price variance and indicate whether it is favorable (f) or unfavorable (u).
(c) determine the labor usage variance and indicate whether it is favorable (f) or unfavorable (u).

James albemarle created a trust fund at the beginning of 2016. the income from this fund will go to his son edward. when edward reaches the age of 25, the principal of the fund will be conveyed to united charities of cleveland. mr. albemarle specified that 75 percent of trustee fees are to be paid from principal. terry jones, cpa, is the trustee. james albemarle transferred cash of $500,000, stocks worth $400,000, and rental property valued at $250,000 to the trustee of this fund. immediately invested cash of $360,000 in bonds issued by the u.s. government. commissions of $7,900 are paid on this transaction. incurred permanent repairs of $9,000 so that the property can be rented. payment is made immediately. received dividends of $8,000. of this amount, $3,000 had been declared prior to the creation of the trust fund. paid insurance expense of $4,000 on the rental property. received rental income of $10,000. paid $8,000 from the trust for trustee services rendered. conveyed cash of $7,000 to edward albemarle.

Stock market crashes happen when the value of most of the stocks in the stock market increase at the same time. question 10 options: true false

Which of the following is an example of a production quota? a. the government sets an upper limit on the quantity that each dairy farmer can produce. b. the government sets a price floor in the market for dairy products. c. the government sets a lower limit on the quantity that each dairy farmer can produce. d. the government guarantees to buy a specified quantity of dairy products from farmers.