As  Hite and Seitz (2016) show in Chapter 4: Energy, the world is in the  midst of an energy crisis as it concerns the rapid use and depletion of  nonrenewable natural resources. 

According  to the textbook, “Many experts predict that the largest increase in  demand for oil in the coming years will come from increasingly  industrialized economies with large populations…” (p. 140)

Can  this be offset by measures taken in developed nations to address the  energy–climate crisis? Why or why not? What potential strategies could  be used to reduce the demand for energy in industrialized economies with  large populations? 

Subject: Business    / Accounting
Second question on how to  Calculate the direct material price variance for June

ABC Company began operations on June 1, 2019. For its first month of operations, ABC
Company established the following standards for unit of its single product:

standard quantity standard price

direct materials 8 pounds $3.50 per pound
direct labor 7 hours $15.00 per hour
variable overhead 7 hours $7.50 per hour

The following information is available for surge for the month of June:

1. 65,000 pounds of direct materials were purchased at a total cost of $188,500.
2. 45,000 direct labor hours were worked at a total cost of $731,250.
3. The variable overhead cost for the month totaled $325,000.
4. 6,500 units were produced.
5. At June 30, ABC Company had 8,000 pounds of direct materials on hand.

Calculate the direct material price variance for June. If the variance is favorable, enter an F after your number with a space between the number and the F (i.e., 10,000 F).

If the variance is unfavorable, enter a U after your number with a space between the number and the U (i.e., 10,000 U).

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