Tharaldson Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct materials 5.3 ounces $ 2.00 per ounce $ 10.60 Direct labor 0.8 hours $ 13.00 per hour $ 10.40 Variable overhead 0.8 hours $ 4.00 per hour $ 3.20 The company reported the following results concerning this product in June. Originally budgeted output 4,300 units Actual output 4,300 units Raw materials used in production 20,900 ounces Purchases of raw materials 22,000 ounces Actual direct labor-hours 6,400 hours Actual cost of raw materials purchases $ 39,400 Actual direct labor cost $ 14,300 Actual variable overhead cost $ 4,150 The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The materials price variance for June is:

7. problems and applications q7 congress and the president decide that the united states should reduce air pollution by reducing its use of gasoline. they impose a $0.50 tax on each gallon of gasoline sold. suppose they decided to impose the tax on consumers. in the following graph, shows the effect of a $0.50 tax on each gallon of gasoline sold imposed on consumers by shifting the demand or supply curve. demand supply 0 1 2 3 4 5 6 3.0 2.5 2.0 1.5 1.0 0.5 0 price of gasoline (dollars per gallon) quantity of gasoline (thousands of gallons) demand s 1 s 2 true or false: the price producers receive will be higher if the tax were imposed on consumers. true false if the demand for gasoline were more elastic, this tax would be effective in reducing the quantity of gasoline consumed. true or false: consumers of gasoline are by this tax. true false workers in the oil industry are by this tax.