Oxnard industries produces a product that requires 2.6 pounds of materials per unit. the allowance for waste and spoilage per unit is .3 pounds and .1 pounds, respectively. the purchase price is $2 per pound, but a 2% discount is usually taken. freight costs are $.10 per pound, and receiving and handling costs are $.07 per pound. the hourly wage rate is $12.00 per hour, but a raise which will average $.30 will go into effect soon. payroll taxes are $1.20 per hour, and fringe benefits average $2.40 per hour. standard production time is 1 hour per unit, and the allowance for rest periods and setup is .2 hours and .1 hours, respectively. the standard direct materials price per pound isa company purchases 20,000 pounds of materials. the materials price variance is $4,000 favorable. what is the difference between the standard and actual price paid for the materials?

In year 1, the bennetts' 25-year-old daughter, jane, is a full-time student at an out-of-state university but she plans to return home after the school year ends. in previous years, jane has never worked and her parents have always been able to claim her as a dependent. in year 1, a kind neighbor offers to pay for all of jane's educational and living expenses. which of the following statements is most accurate regarding whether jane's parents would be allowed to claim an exemption for jane in year 1 assuming the neighbor pays for all of jane's support? a.no, jane must include her neighbor's gift as income and thus fails the gross income test for a qualifying relative.b.yes, because she is a full-time student and does not provide more than half of her own support, jane is considered her parent's qualifying child.c.no, jane is too old to be considered a qualifying child and fails the support test of a qualifying relative.d.yes, because she is a student, her absence is considered as "temporary." consequently she meets the residence test and is a considered a qualifying child of the bennetts.