1. Deere and Company has the following information is for their standard and actual costs. Standard Costs: Budgeted units of production - 12,000 (100% of capacity) Standard material per unit - 14 lbs. Standard material cost - $ 17.50 per pound Standard labor hours per unit - 9 Standard labor rate - $23.00 per hour Standard variable overhead rate - $9.00 per labor hour Budgeted fixed overhead - $891,000 Fixed overhead rate is based on budgeted labor hours at 100% capacity. Actual Cost: Actual production - 11,200 units Actual material purchased and used - 161,280 pounds Actual total material cost - $2,741,760 Actual labor - 105,280 hours Actual total labor costs - $2,379,328 Actual fixed overhead - $808,000 Actual variable overhead - $925,000 Determine: (a) the quantity variance, price variance, and total direct materials cost variance; (b) the time variance, rate variance, and total direct labor cost variance; and (c) the volume variance, controllable variance, and total factory overhead cost variance.

What is the relationship between marginal external cost, marginal social cost, and marginal private cost? a. marginal social cost equals marginal private cost plus marginal external cost. b. marginal private cost plus marginal social cost equals marginal external cost. c. marginal social cost plus marginal external cost equals marginal private cost. d. marginal external cost equals marginal private cost minus marginal social cost. marginal external cost a. is expressed in dollars, so it is not an opportunity cost b. is an opportunity cost borne by someone other than the producer c. is equal to two times the marginal private cost d. is a convenient economics concept that is not real

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When paul o’neill joined alcoa as ceo, he set a , that there would be zero workplace accidents. a lot of people in the organization thought this was impossible given how dangerous some aluminum-manufacturing jobs are, but alcoa’s safety record improved tremendously. as the board of governors of the american red cross considers planning, one option is to make strategic plans and then direct managers to align tactical and operational plans accordingly. another option is to have planning specialists managers across the organization make their own plans. why might this organization’s executives opt for the latter approach? check all that apply. (a) the environment is a dynamic one, and department and frontline managers can come up with more responsive plans than can central leadership. (b)resources will be better coordinated across the organization in support of the overall strategy.(c) senior leadership will have more control over the organization’s direction. (d)when managers come up with their own plans, they are likely to be more committed to following through on them.