The basic difference in the economic effects of a tariff compared with a quota is that tariff is more likely to generate revenue for the government. Both of tariff and quota are forms of governmental regulation for protecting the international trade with other countries. Tariff is undertaken by government to protect the international trade by maintaining the tax rate of the trade. Quota is undertaken by government by maintaining the quantity of the items in the trade. These regulations impact importers or exporters in a country.
Answer:
50 percent: your needs
20 percent: your savings and debt
30 percent: your wants
Explanation:
Budgeting your money using the "50/20/30" rule:
50 percent: Your needs. 50 percent of your paycheck should be set aside for the essentials, the core things you need to live. These include utilities, groceries, and rent, prescription medications, gas for your car, or the minimum payment on your credit card.
20 percent: Your savings and debt. The next 20 percent of your paycheck is for your savings and debt repayments. In other words, paying off the past and investing in the future
30 percent: Your wants. The remaining 30 percent should be spent on things that you want but could live without. This 30 percent allows for flexible spending and, perhaps, a happier life.
This could include money for vacations, shopping sprees, or a car you really covet. But remember, these "wants" include all things that aren't needed to stay afloat, so be sure to prioritize.
Answer:
a. Predetermined Overhead Rate
Rate = Overhead cost / standard hours of direct labor
Variable Overhead Costs Rate = 182875 / 16625 = 11
Fixed Overhead Costs Rate= 66500 / 16625 = 4
Total Overhead Costs Rate = Variable Overhead Costs + Fixed Overhead Costs
= 11 + 4
= 15
b. Total overhead variance
Overhead costs applied= Overhead * Standard Direct Labor Hours
When Standard Direct Labor Hours= (16625 / 38000 * 70%) * 44600
= (16625 / 26600) * 44600.
= 0.625 * 44600
= 27875 Hours.
i. Variable Overhead Costs = 11 * 27875 = 306625
ii. Fixed Overhead Costs = 4 * 27875 = 111500
iii. Total Overhead Costs = 15 * 27875 = 418125
The company incurred $421,625 actual overhead which is the Actual overhead.
Hence, Total overhead variance= Total Overhead - Costs Actual overhead
= $418,125 - $421,625
= -3500 (Unfavorable)
Answer:
nominal interest rate
Explanation:
Titan State Bank offer of 6% interest is a quoted interest rate. A quoted interest rate is also annual payable rate (APR) and in this case, it is compounded quarterly. Additionally, since this quoted rate does not take into account the inflation rate, it is referred as a Nominal interest rate. However, when that nominal rate of 6% is adjusted for inflation, the rate you earn is the Real interest rate which you calculate using the Fisher equation.
