Practice Exercise 1 Your answer is partially correct. Try again. Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit product Direct materials (9 pounds at $2.20 per pound) $19.80 Direct labor (1 hours at $11.00 per hour) $11.00 During the month of April, the company manufactures 310 units and incurs the following actual costs. Direct materials purchased and used (1,600 pounds) $3,680 Direct labor (330 hours) $3,564 Compute the total, price, and quantity variances for materials and labor. Total materials variance 2688 Unfavorable Materials price variance 160 Unfavorable x Materials quantity variance 2618 Favorable Total labor variance Labor price variance DO Labor quantity variance Click if you would like to Show Work for this question: Open Show Work By accessing this Question Assistance, you will learn while you eam points based on the Point Potential Polic your instructor SUB Question Attempts: 2 of 3 used SAVE FOR LATER You have surpassed the number of attempts to earn Maximum Points for this question. For this attempt, and any subsequent attempt(s), % RISKS OF FINANCIAL INSTITUTIONS Interest rate risk 14a - Duration gap Example 3. Calculate the Duration of a 3-year, $1000 face value bond with a 10% coupon paid semi-annually, given that YTM is 5%. Period PV of $1 at 5% Period x Cash Flow $50 0952 $100 1 2 3 4 5 6 Cash Flow $50 $50 $50 $50 $50 $1,050 Present Value of the Cash Flow $4762 $90.70 $129 58 $164.54 $195.88 $4,701.16 0.907 0.863 0822 0.783 0.746 $150 $200 $250 $6,300 $6.329.40 Total