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stiv31 [10]
3 years ago
11

The primary benefit of a monetary system of exchange compared to a barter system is the increased

Business
2 answers:
AleksandrR [38]3 years ago
5 0

Answer:

d. efficiency in arranging transactions.

Explanation:

  • The primary goal of the monetary system to that of the barter system is that it's more efficient in maintaining the transparency and is efficient in the transactions with its partners. Thus is better and is more reliable than the old system of exchange.
Bad White [126]3 years ago
3 0

Answer:

D. Efficiency in arranging transactions.

Explanation:

in a barter system, it is difficult to determine how much something would cost. If I am raising corn and you are raising cabbage, how much corn equals one head of cabbage? It is difficult to come to fair trade terms. With a monetary system, it is much easier to set a price and make a trade because everyone is using a common trading instrument.

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EZ-Tax is a tax accounting practice with partners and staff members. Each billable hour of partner time has a $800 budgeted pric
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Answer:

EZ-Tax

                                                      Partner                 Staff             Total

a. Sales price variance             $104,000            ($110,000)      ($6,000) U

b. Activity variance                   $160,000           $420,000     $580,000 F

c. Mix variance                           $85,000           $180,000     $265,000 F

d. Quantity variance                $189,000             $70,000     $259,000 F

Explanation:

a) Data and Calculations:

                                                      Partner                 Staff

Budgeted billable rate per hour   $800                    $210    

Budgeted variable cost per hour    375                      120

Budgeted billable hours              5,000                20,000

Budgeted revenue             $4,000,000        $4,200,000

Budgeted variable cost         1,875,000          2,400,000

Actual revenue                  $4,264,000         $4,510,000

Actual billable hours                   5,200                22,000

Actual billable rate per hour       $820                   $205

Budgeted billable rate per hour $800                    $210

Variance in price                           $20                       ($5)

Sales price variance            $104,000            ($110,000)      ($6,000)

Sales price variance = (Standard price - Actual price) * Actual billable hours

= ($800 - $820) * 5,200 + ($210 - $205) * 22,000

= $20 * 5,200 + ($5) * 22,000

= $104,000 - 110,000

= $6,000 U

Activity variance = (Actual billable hours - Standard billable hours) * Standard rate

= (5,200 - 5,000) * $800 + (22,000 - 20,000) * $210

= (200 * $800) + (2,000 * 210)

= $160,000 + 420,000

= $580,000 F

                                                  Partner                 Staff        Total

Budgeted revenue             $4,000,000        $4,200,000   $8,200,000

Budgeted variable cost         1,875,000          2,400,000      4,275,000

Budgeted contribution       $2,125,000         $1,800,000   $3,925,000

Actual revenue                  $4,264,000         $4,510,000   $8,774,000

Actual variable cost              1,950,000          2,640,000    4,590,000

Actual contribution             $2,314,000         $1,870,000   $4,184,000

Quantity variance                 $189,000              $70,000     $259,000

Quantity variance = Budgeted contribution - Actual contribution

= $3,925,000 - $4,184,000

= $259,000 F

Mix Variance:

Standard contribution margin  $425                  $90

Volume variance                         200                2,000

Mix variance =                     $85,000           $180,000

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