He following information describes a company’s direct labor usage in a recent period. actual direct labor hours used (ah) 59,000 actual direct labor rate per hour (ar) $ 15 standard direct labor rate per hour (sr) $ 13 standard direct labor hours for units produced (sh) 60,600 ah = actual hours sh = standard hours ar = actual rate sr = standard rate compute the direct labor rate and efficiency variances for the period and classify each as favorable, unfavorable or no variance.

Explain whether each of the following events increases or decreases the money supply. a. the fed buys bonds in open-market operations. b. the fed reduces the reserve requirement. c. the fed increases the interest rate it pays on reserves. d. citibank repays a loan it had previously taken from the fed. e. after a rash of pickpocketing, people decide to hold less currency. f. fearful of bank runs, bankers decide to hold more excess reserves. g. the fomc increases its target for the federal funds rate.