Explain the Process by Which Legislation Is Drafted and Becomes

question 47

Essay

Explain the process by which legislation is drafted and becomes law. What role do different groups, formal and informal, inside Congress and out, play in the process? Why is the procedure so complicated? What are the drawbacks and advantages of this procedure? Should the legislative process be streamlined?

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Definitions:

Direct Materials Price Variance

A measure used in management accounting to assess the difference between the actual cost of materials used in production and the expected (standard) cost.

Direct Materials Quantity Variance

A measure of the difference between the actual quantity of materials used in production and the expected quantity, based on standards.

Total Direct Materials Cost Variance

The difference between the actual costs of direct materials used in production and the expected (or standard) costs.

Direct Materials Price

The cost of raw materials and components required for the manufacture of a product.