The following data is given for the stringer company: budgeted production 26,000 units actual production 27,500 units materials: standard price per ounce $6.50 standard ounces per completed unit 8 actual ounces purchased and used in production 228,000 actual price paid for materials $1,504,800 labor: standard hourly labor rate $22 per hour standard hours allowed per completed unit 6.6 actual labor hours worked 183,000 actual total labor costs $4,020,000 overhead: actual and budgeted fixed overhead $1,029,600 standard variable overhead rate $24.50 per standard labor hour actual variable overhead costs $4,520,000 overhead is applied on standard labor hours. the direct materials price variance is

select one:

a. $22,800 unfavorable
b. $22,800 favorable
c. $52,000 unfavorable
d. $52,000 favorable

On june 1 of the current year, chad wilson established a business to manage rental property. he completed the following transactions during june: opened a business bank account with a deposit of $28,000 from personal funds. purchased office supplies on account, $2,690. received cash from fees earned for managing rental property, $7,390. paid rent on office and equipment for the month, $3,310. paid creditors on account, $1,230. billed customers for fees earned for managing rental property, $6,130. paid automobile expenses (including rental charges) for the month, $740, and miscellaneous expenses, $370. paid office salaries, $2,330. determined that the cost of supplies on hand was $1,590; therefore, the cost of supplies used was $1,100. withdrew cash for personal use, $2,210. required: 1. indicate the effect of each transaction and the balances after each transaction: for those boxes in which no entry is required, leave the box blank. for those boxes in which you must enter subtractive or negative numbers use a minus sign. (example: -300) answer

3. now assume that carnival booked lady antebellum in december 2016 to perform on the june 2017 western caribbean cruise. further assume that carnival pays lady antebellum its entire performance fee of $52,000 on december 28, 2016, for the june 2017 cruise. what journal entry will carnival make on december 28, 2016, for its payment to lady antebellum?

Why should managers invest any excess cash