Genie in a bottle company (gbc) manufactures plastic two-liter bottles for the beverage industry. the cost standards per 100 two-liter bottles are as follows:

cost category standard cost per 100 two-liter bottles
direct labor $2.00
direct materials 9.10
factory overhead 0.55
total $11.65
at the beginning of july, gbc management planned to produce 400,000 bottles. the actual number of bottles produced for july was 406,000 bottles. the actual costs for july of the current year were as follows:

cost category actual cost for the month ended july 31
direct labor $7,540
direct materials 35,750
factory overhead 2,680
total $45,970
required:
a. prepare the july manufacturing standard cost budget (direct labor, direct materials, and factory overhead) for gbc, assuming planned production.
b. prepare a budget performance report for manufacturing costs, showing the total cost variances for direct materials, direct labor, and factory overhead for july. enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
c. interpret the budget performance report.

Aquatic marine stores company manufactures special metallic materials and decorative fittings for luxury yachts that require highly skilled labor. aquatic uses standard costs to prepare its flexible budget. for the first quarter of the year, direct materials and direct labor standards for one of their popular products were as follows: direct materials: 3 pounds per unit; $ 6 per pound direct labor: 4 hours per unit; $ 19 per hour during the first quarter, aquatic produced 5 comma 000 units of this product. actual direct materials and direct labor costs were $ 65 comma 000 and $ 330 comma 000, respectively. for the purpose of preparing the flexible budget, calculate the total standard direct materials cost at a production volume of 5 comma 000 units.

Insurance companies have internal controls in place to protect assets, monitor the accuracy of accounting records and encourage operational efficiencies and adherence to policies. these internal controls are generally of two types: administrative controls and accounting controls. administrative controls are the policies and procedures that guide the daily actions of employees. accounting controls are the policies and procedures that delineate authorizations of financial transactions that are done, safeguard assets, and provide reports on the company’s financial status in a reliable and timely manner. internal controls should include both preventative and detective controls. the purpose of preventative controls is to stop problems and errors before they occur. detective controls identify problems after they have occurred. preventative controls are usually more effective at reducing problems, but they also tend to be more expensive. internal controls must be flexible to adjust for changes in laws and regulations in addition to adding new products or modifying current ones. companies must also do regular analyses to ensure that the benefits of implementing the controls are worth their costs. when concerned about paying unwarranted insurance claims which type of control would be useful?

Suppose that the free states of eldricia, a small nation, has consumption, investment, government purchases, imports, and exports as follows. consumption $140 investment $50 government purchases $45 imports $30 exports $15 calculate the free states of eldricia's gdp