JAX Inc. In early 2012, JAX Inc. had budgeted for the production and sales of 5,000 units at a sales price of $15 per unit. The following information is available regarding the standard cost for each unit:
Actual results for 2012 were determined to be as follows:
Refer to the JAX Inc. information above. What was JAX Inc.'s direct materials price variance for 2012?
Definitions:
Tax Hikes
Tax hikes involve an increase in the tax rates or the imposition of new taxes by the government, affecting individuals, businesses, and economic activities.
Progressive Personal Income Tax
A tax system where the tax rate increases as the taxable income of the taxpayer increases, imposing higher rates on those with higher incomes.
Fiscal Policy
Government policies related to taxation and public spending designed to influence economic conditions, such as inflation, employment, and economic growth.
Government Spending
Expenditures made by the government sector including spending on goods and services, public projects, and social programs.
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