The Riegle-Neal Act of 1994

question 105

Multiple Choice

The Riegle-Neal Act of 1994

• A) required all banks to become universal banks.
• B) removed ceilings on bank deposit interest rates.
• C) allowed banks to underwrite insurance and securities and engage in real estate activities.
• D) overturned prohibitions on interstate banking and branching.

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Definitions:

Fixed Manufacturing Overhead

Costs that do not vary with the level of production or sales, such as salary of the factory manager and rent of the manufacturing facility.

Overhead Applied

The allocation of overhead costs to specific jobs or cost objects based on a predetermined rate.

Standard Direct Labor-Hours

The predetermined estimate of the labor hours required to produce one unit of a product.

Fixed Manufacturing Overhead

Costs in manufacturing that do not change with the level of production, such as rent, salaries, and insurance.