Blue box beach chairs has the following standards to make beach chairs: standard quantity standard price direct materials 2.2 pounds of polywood per chair $3.50 per pound direct labor 0.65 hours per chair $13.00 per hour the static budget was based on the production of 6,200 beach chairs. the company used 13,000 pounds of polywood in order to make 6,000 chairs in april. the company purchased 7,000 pounds of polywood at a total cost of $24,150. how much is the direct materials price variance?

Brian has just finished college. he wants to set up a small business to make and sell fireworks. he registers his company and acquires a license from the government. he finds that most of his competitors are selling fireworks at an extremely low price. he would like to make more money, so he decides to innovate and develop better fireworks. he sells his fireworks at a higher price, and they are a huge hit with the customers. after a few years, he earns enough profit to set up a bigger fireworks factory that complies with the government’s health and safety regulations. he even starts exporting fireworks overseas. which type of economy does this scenario describe?