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The Petunia Company Makes Mugs for Which the Following Standards

question 82

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The Petunia Company makes mugs for which the following standards have been developed: The Petunia Company makes mugs for which the following standards have been developed: Production of 400 mugs was expected in August,but 440 mugs were actually completed.Direct materials purchased and used were 2,100 ounces at an actual price of $2.20 per ounce.Direct labor cost for the month was $5,310,and the actual pay per hour was $9.00.What is the direct labor price variance for August? A) $420 Favorable B) $420 Unfavorable C) $590 Favorable D) $590 Unfavorable Production of 400 mugs was expected in August,but 440 mugs were actually completed.Direct materials purchased and used were 2,100 ounces at an actual price of $2.20 per ounce.Direct labor cost for the month was $5,310,and the actual pay per hour was $9.00.What is the direct labor price variance for August?

Analyze the impact of natural monopoly and network effects on market dynamics.
Evaluate the role of government regulation in monopolistic markets and its impact on output and pricing.
Understand the concepts of marginal revenue and how it relates to monopolist's pricing and output decisions.
Recognize the barriers to entry created by monopolies and their implications for competition.

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