Diltex Farm Supply is located in a small town in the rural west. Data regarding the store's operations follow:

Sales are budgeted at $300,000 for November, $280,000 for December, and $290,000 for January. Collections are expected to be 67% in the month of sale, 30% in the month following the sale, and 3% uncollectible. The cost of goods sold is 65% of sales. The company desires to have an ending merchandise inventory at the end of each month equal to 60% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. Other monthly expenses to be paid in cash are $26,500. Monthly depreciation is $17,500. Ignore taxes.

Statement of Financial Position October 31
Assets
Cash	$24,000
Accounts receivable (net of allowance for uncollectible accounts)	80,000
Merchandise inventory	117,000
Property, plant and equipment (net of $(expression error) accumulated depreciation)	964,000
Total assets	$1,185,000

Liabilities and Stockholder' Equity
Accounts payable	$132,000
Common stock	900,000
Retained earnings	153,000
Total liabilities and stockholder' equity	$1,185,000

The net income for December would be:

$71,500

$51,060

$45,600

$54,000

Young Enterprises has budgeted sales in units for the next five months as follows:

June	5,500 units
July	8,100 units
August	6,300 units
September	7,700 units
October	4,700 units

Past experience has shown that the ending inventory for each month should be equal to 10% of the next month's sales in units. The inventory on May 31 fell short of this goal since it contained only 500 units. The company needs to prepare a Production Budget for the next five months. The total number of units to be produced in July is:

8,730 units

8,100 units

7,920 units

8,280 units

Tolentino Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day. During November, the kennel budgeted for 4,000 tenant-days, but its actual level of activity was 4,050 tenant-days. The kennel has provided the following data concerning the formulas used in its budgeting and its actual results for November:

Data used in budgeting:

	Fixed element per month	Variable element per tenant-day
Revenue		$31.70
Wages and salaries	$2,800	$7.00
Expendables	900	11.30
Facility expenses	8,300	3.20
Administrative expenses	7,900	0.40
Total expenses	$19,900	$21.90

Actual results for November:

Revenue	$123,185
Wages and salaries	$30,590
Expendables	$48,021
Facility expenses	$17,210
Administrative expenses	$8,675

The net operating income in the flexible budget for November would be closest to:

$39,690

$39,200

$19,300

$19,790

The following materials standards have been established for a particular product:

Standard quantity per unit of output		3.8	pounds
Standard price	$	21.0	per pound

The following data pertain to operations concerning the product for the last month:

Actual materials purchased		2,860	pounds
Actual cost of materials purchased	$	57,772
Actual materials used in production		2,320	pounds
Actual output		580	units

Required:

a.	What is the materials price variance for the month? (Input the amount as positive value. Leave no cells blank - be certain to enter "0" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)

Materials price variance

$

b.

What is the materials quantity variance for the month? (Input the amount as positive value. Leave no cells blank - be certain to enter "0" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round your answer to the nearest dollar amount.)

Materials quantity variance

$

The Reedy Company uses a standard costing system. The following data are available for November:

Actual direct labor-hours worked	4,300	hours
Standard direct labor rate	$7.90	per hour
Labor rate variance	$1,290	favorable

The actual direct labor rate for November is:

$8.20

$7.60

$7.75

$7.90

Stuchlik Catering uses two measures of activity, jobs and meals, in the cost formulas in its flexible budgets. The cost formula for catering supplies is $640 per month plus $84 per job plus $20 per meal. A typical job involves serving a number of meals to guests at a corporate function or at a host's home. The company expected its activity in January to be 49 jobs and 230 meals, but the actual activity was 50 jobs and 235 meals. The actual cost for catering supplies in January was $7,600. The catering supplies in the planning budget for January would be closest to:

$7,600

$9,440

$9,356

$9,540

Diorio Corporation keeps careful track of the time required to fill orders. The times recorded for a particular order appear below:

	Hours
Move time	3.1
Wait time	21.9
Queue time	5.7
Process time	1.8
Inspection time	0.1

The throughput time was:

5.0 hours

10.7 hours

32.6 hours

27.6 hours