Income taxes are taxes levied based on the income you earn. In the U. S., income taxes are progressive, which means that people with higher incomes pay a higher percentage of their income in taxes. Some lawmakers advocate a flat tax, in which every income earner pays the same percentage of income in taxes. A flat tax would significantly reduce the paperwork and rules and regulations associated with the income tax. However, changing the tax rules would cause much disruption in the economy as people changed their economic behavior in response to the change in the tax law. a. True
b. False

Which critical success factor improves with reduced cycle time, better quality standards, and improved efficiency when an is is implemented?

Levine inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. direct materials (9 pounds at $1.80 per pound) $16.20 direct labor (6 hours at $14.00 per hour) $84.00 during the month of april, the company manufactures 270 units and incurs the following actual costs. direct materials purchased and used (2,500 pounds) $5,000 direct labor (1,660 hours) $22,908 compute the total, price, and quantity variances for materials and labor.

scenario: hawaii and south carolina are trading partners. hawaii has an absolute advantage in the production of both coffee and tea. the opportunity cost of producing 1 pound of tea in hawaii is 2 pounds of coffee, and the opportunity cost of producing 1 pound of tea in south carolina is 1/3 pound of coffee. which of the following statements is true? a. south carolina should specialize in the production of both tea and coffee. b. hawaii should specialize in the production of tea, whereas south carolina should specialize in the production of coffee. c. hawaii should specialize in the production of coffee, whereas south carolina should specialize in the production of tea. d. hawaii should specialize in the production of both tea and coffee.