23. A favorable cost variance occurs when a. actual costs are more than standard costs b. standard costs are more than actual costs c. standard costs are less than actual costs d. actual costs are the same as standard costs 24. A two-year investment's original cost is $200,000 and it has a residual value of zero at the end of its two-year useful life. The investment provides operating net annual cash flows for two years as follows: Year 1, $102,000, and Year 2, $137,000. Present Value of a Single amount factors at 10% are: Year 1: 0.909; and Year 2: 0.826. The Net Present Value (NPV) of this investment using a minimum acceptable Rate of Return of 10% is a. $20,444 b. $205,880 c. $39,000 d. $5,880