Question 4 Aman is worried about her labour costs. She budgeted that each of her products would take 1.33 hours to complete at a rate of $26 per direct labour hour. This month, Aman's business has produced 1,850 products. She has paid her workers a total of $55,500 in wages. Additionally, there is a 5% CPP expense which must also be paid (Aman includes this in her budgeting). Aman also gave a $500 bonus to all fourteen of her workers, since they have been working hard through long hours. Prepare a variance analysis model and give her some advice on if she is doing well and, if not, how things can be improved. Discuss all relevant factors, including more information which you may request from Aman and further analysis you would like to do. Question 2 You bought your house for $350,000 ten years ago and now it needs repairs (you pay property taxes of $3,000 per year). You consult a renovations company and it quotes you $40,000 to fix everything. You are thinking about simply selling your house (no repairs) for $425,000 and buying a bigger one for $610,000 (property taxes of $3,200 a year). You would be paying $1,100 a month in interest to the bank, but also collecting $800 rent from a tenant. In five years, you think you will be able sell your current house for $475,000 (with repairs completed). Also, in five years, you expect the new house to be worth $635,000. Assuming a five-year time frame, which is the better option for you