Answer and Explanation:
According to the scenario, computation of the given data are as follow:-
Price ceiling:-This is show the limit of the price on maximizing value of the product which is decided by government and his imposed group for customer.
Binding:-The binding price ceiling is below the equilibrium price.
Unbinding:-The unbinding price ceiling is above equilibrium price.
Price floor:-This is show the limit of the price on lower value of the product which is decided by government and his imposed group for customer. A price floor must be higher than the price equilibrium price in order to be effective.
Binding:-The binding price floor is above the equilibrium price.
Unbinding:-The unbinding price floor is below the equilibrium price.
It is given that the equilibrium price of milk is $2.50 per gallon.
Statement 1:-This is the example of price floor and binding because minimum price of $2.30 per gallon is decided.
Statement 2:-This is the example of price floor and binding because minimum price of $3.40 per gallon is decided for gasoline.
Statement 3:-This is the example of price floor and binding because teenagers are not hired due to minimum-wage laws.
Answer:
$10,400 Favorable
Explanation:
The computation of labor efficiency variance for June is shown below:-
For computing the labor efficiency variance for June first we need to find out the standard hours
Standard hours = 0.5 hours per unit × 3,100 units
= 1,550 hours
Now, we will put it into formula
Labor efficiency variance = (Standard hours - Actual hours) × Standard rate
= (1,550 - 510) × $10
= $10,400 Favorable
Therefore for computing the labor efficiency variance for June we simply applied the above formula.
Set a timeline
A time can be seen as a course of events, by making a course of events for your objective you move it into the present and increment your sense of duty regarding accomplish your objective. A timetable is a show of a rundown of occasions in sequential manner. It is commonly a visual communication demonstrating a long bar named with dates close by itself and normally occasions.
