The Argentine government has recently been imposing heavy trade restrictions. Taxes on exports are a major source of revenue for the country. Being a part of the Mercosur customs union, the country cannot independently impose import tariffs but has found other ways to restrict imports. The idea behind this is to "supply the growing domestic market with local labor and production." As a result of these restrictions, the markets for various products have been affected. With BlackBerrys in short supply within Argentina and no possibility of imports, a multinational manufacturer is in fact assembling them in the country's province of Tierra del Fuego, off the coast of South America. The cost thus incurred is estimated to be 15 times higher than what it costs to produce BlackBerrys in Asia.

Which of the following, if true, would be the strongest evidence in support of the restrictive trade policies?

A. The evidence on how efficiently firms can operate under trade restrictions is mixed
B. Many Argentine firms are efficiently operating in markets that were flooded with imported goods before the trade restrictions were imposed
C. Argentina was one of the leading exporters of agricultural products prior to the trade restrictions.
D. Even during the period when India imposed high trade barriers, the Indian GDP grew at an average rate of 4%.
E. There is free movement of manpower and capital across the Mercosur member nations

“wonderful! not only did our salespeople do a good job in meeting the sales budget this year, but our production people did a good job in controlling costs as well,” said kim clark, president of martell company. “our $11,150 overall manufacturing cost variance is only 3% of the $1,536,000 standard cost of products made during the year. that’s well within the 3% parameter set by management for acceptable variances. it looks like everyone will be in line for a bonus this year.” the company produces and sells a single product. the standard cost card for the product follows: standard cost card—per unit direct materials, 4.00 feet at $4.00 per foot $ 16.00 direct labor, 1.1 direct labor-hours at $13 per direct labor-hour 14.30 variable overhead, 1.1 direct labor-hours at $2.40 per direct labor-hour 2.64 fixed overhead, 1.1 direct labor-hours at $6.50 per direct labor-hour 7.15 standard cost per unit $ 40.09the following additional information is available for the year just completed: a. the company manufactured 20,000 units of product during the year.b. a total of 77,000 feet of material was purchased during the year at a cost of $4.25 per foot. all of this material was used to manufacture the 20,000 units. there were no beginning or ending inventories for the year.c. the company worked 24,000 direct labor-hours during the year at a direct labor cost of $12.50 per hour.d. overhead is applied to products on the basis of standard direct labor-hours. data relating to manufacturing overhead costs follow: denominator activity level (direct labor-hours) 19,000 budgeted fixed overhead costs $ 123,500 actual variable overhead costs incurred $ 64,800 actual fixed overhead costs incurred $ 120,900required: 1. compute the materials price and quantity variances for the year. (round standard price and actual price to 2 decimal places. indicate the effect of each variance by selecting "f" for favorable, "u" for unfavorable, and "none" for no effect (i.e., zero 2. compute the labor rate and efficiency variances for the year. (round standard rate and actual rate to 2 decimal places. indicate the effect of each variance by selecting "f" for favorable, "u" for unfavorable, and "none" for no effect (i.e., zero 3. for manufacturing overhead compute: a. the variable overhead rate and efficiency variances for the year. (round standard rate and actual rate to 2 decimal places. indicate the effect of each variance by selecting "f" for favorable, "u" for unfavorable, and "none" for no effect (i.e., zero b. the fixed overhead budget and volume variances for the year. (indicate the effect of each variance by selecting "f" for favorable, "u" for unfavorable, and "none" for no effect (i.e., zero

Factors like the unemployment rate, the stock market, global trade, economic policy, and the economic situation of other countries have no influence on the financial status of individuals. ( t or f)

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