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A bank has $770 million in checkable deposits. The bank has $85 million in reserves. The bank's required reserves are _____________ and its excess reserves are _____________.
Standard Costs
Predetermined costs for materials, labor, and overhead used as benchmarks for measuring performance.
Kilos
A unit of measurement equivalent to one thousand grams, used commonly across the world to denote mass in the metric system.
Raw Material
Basic substances in their natural, modified, or semi-processed states used as an input for a manufacturing process.
Standard Costs
Predetermined costs for materials, labor, and overhead that are used as benchmarks for measuring actual performance and cost control.
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