All of the statements regarding a dynasty trust are correct, except: A. Distributions of trust assets are postponed as long as possible. to avoid payment of estate taxes.
B. A transferor can allocate a portion of a GST exemption to each premium payment made to an ILIT to offset GST tax when there are skip-person beneficiaries.
C. A GST exemption applied to annual premiums in an ILIT protects the trust corpus from GST tax.
D. Dynasty trusts can be established in all states.

Skychefs, inc. prepares in-flight meals for a number of major airlines. one of the company's products is grilled salmon in dill sauce with baby new potatoes and spring vegetables. during the most recent week, the company prepared 4000 of these meals using 960 direct labor hours. the company paid these direct labor workers a total of $19,200 for this work, or $20.00 per hour. according to standard cost card for this meal, it should require 0.25 direct labour-hours at a cost of $19.75 per hour.1. what is the standard labor-hours allowed (sh) to prepare 4,000 meals? 2. what is the standard labor cost allowed (sh x sr) to prepare 4,000 meals? 3. what is the labor spending variance? 4. what is the labor rate variance and the labor efficiency variance?