Voluntary exchange is the answer
Answer:
Correcting Entry
March 8 Dr. Cr.
Supplies $664
Equipment $600
Account Payable $64
Explanation:
Entry Should be
March 8 Dr. Cr.
Supplies $664
Account Payable $664
Entry Recorded
March 8 Dr. Cr.
Equipment $600
Account Payable $600
Firs error is amount recorded as $600 rather $664 and the second is account of equipment debited rather the account of Supplies Inventory.
Answer:
The answers are increases and more.
Explanation:
When the government levies a tax on a good equal to the external cost associated with the good’s production, it ___increases_____ the price paid by consumers and makes the market outcome __more______ efficient
Because that is the imposition of tax on the external cost created by a commodity will lead to an increase in the price of the commodity. When the government imposes tax on goods equal to the external cost, it leads to the market outcome becoming more efficient.
Answer:
Direct Material Quantity Variance = $10200 Fav
Explanation:
given data
Units produced = 5600
Direct materials purchased and used (7800 lbs.) = $70,200
Budgeted production = 5300 units
Direct materials 2.0 lbs/unit = $3/lb
to find out
direct materials quantity variance
solution
we get here Direct Material Quantity Variance that is express as
Direct Material Quantity Variance = (Standard Quantity - Actual Quantity) × Standard Rate ......................1
so put here value we get
Direct Material Quantity Variance = ( 5600 × 2.0 - 7800 ) × 3
Direct Material Quantity Variance = (11200 - 7800 ) × 3
Direct Material Quantity Variance = $10200 Fav
