1) Equity method is used when Company T acquired some of the shares of company V for $100,000. What percent of shares would have been acquired by company T? (a) 29% (b) 10% (c) 19% (d) None of the above

2.

Calculate the material price variance wherein the standard cost is $2 and actual cost is $2.50 per unit. The actual quantity produced by the company was 5,900 units. (a) $2,950 Unfavorable (b) $26,550 Unfavorable (c) $2,950 Favorable (d) $11,800 Unfavorable