Answer:
<em>Materials:</em>
P 2,000F
Q 7,650U
Labor:
Rate 800U
Efficiency 2,500.00F
<em>Questions:</em>
Solve for labor and materials variances
Explanation:
std cost $6.00
actual cost $5.75 ($46,000/ 8,000 pounds)
quantity 8,000
difference $0.25
price variance $2,000.00
std quantity 4500.00 (3,000 units x 1.5 pounds per unit)
actual quantity 6000.00 (8,000 purchased - 2,000 ending)
std cost $5.10
difference -1500.00
quantity variance $(7,650.00)
DIRECT labor VARIANCES
std rate $12.00
actual rate $12.50
actual hours 1,600 (160 hours x 10 employees)
difference $(0.50)
rate variance $(800.00)
std hours 1800.00 (3000 units x 0.6hours per unit)
actual hours 1600.00
std rate $12.50
difference 200.00
efficiency variance $2,500.00
The money supply decreases when Citi Bank repays a loan they had previously taken from the Fed. The money supply within Citi Bank decreases because they no longer have the money as they have paid it back to the Fed. The Fed's supply of money then increases.
Answer:
A decrease in the size of a tax always decreases the deadweight loss of that tax.
Explanation:
Deadweight loss of tax is defined as the harm that is caused by tax to economic efficiency and prodction. It measures by how much taxes reduces the standard of living of a population.
Deadweight loss is the difference between to tax imposed and the reduction in production level it causes.
A decrease in the size of tax will give more income free to invest in production, therefore the production level will increase. This reduces the deadweight loss.
Effect of tax on deadweight is illustrated in the attached.
Privatizing social security means having American's invest (in things like the stock market, for example) for their retirement rather than having the money totally managed by the US government.
