Companies use the (1)/(2) cycle to evaluate and improve performance. (Enter only one word per blank.)
1. variance
2. analysis
Answers
Companies use the variance analysis cycle to evaluate and improve performance.
The process begins with setting standard performance measures or benchmarks, which serve as a baseline for evaluating actual results. These standards can include factors such as costs, revenues, and efficiency metrics.
The first step in the cycle is to compare the actual performance with the established standards. This involves calculating the variances, which are the differences between the actual results and the expected outcomes. Variances can be favorable or unfavorable, depending on whether the actual performance is better or worse than the standard.
Next, the company conducts an analysis to determine the causes of the variances. This may involve examining various factors, such as changes in market conditions, production processes, or employee performance. Identifying the reasons behind the variances is crucial for implementing corrective actions and improving future performance.
Once the root causes are identified, the company can take appropriate actions to address the issues. These actions may involve adjusting budgets, revising production processes, or providing additional training to employees. By continually monitoring performance and making necessary adjustments, the company can achieve its objectives more efficiently and effectively.
In conclusion, the variance analysis cycle is a valuable tool for companies to evaluate and improve their performance. It allows businesses to identify areas where they may be underperforming and take corrective measures to ensure they are on track to meet their goals. Regularly conducting variance analysis can lead to continuous improvement and a more competitive position in the market.
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Related Questions
Which of the following statements would be considered pros of globalization?
Increased competition between countries
Increased immigration of unskilled workers
Increased public funding for education and immigration of those citizens with education
Increased consumption of wide variety of goods leading to increased production
Answers
Answer:
increased consumption of wide variety of goods leading to increased production.
Explanation:
im sorry if i get it wrong
An old canceled u.s. stamp of an upside-down airplane is worth $80,000, but a newer stamp in 2008 that features bette davis is worth only $0.42. this is explained by the fact that the:_____.
Answers
A cancelled vintage U.S. stamp depicting an upside-down Aeroplan is worth $\(80,000,\)yet a more recent stamp from\(2008\) with Bette Davis is only worth $[tex\(]0.42\).\)This is explained by the laws of supply and demand, which state that the scarcer a good is, the higher its marginal utility, and the better its price.
Magical Utility is a concept used in microeconomics to connect the quantity of goods consumed and the level of happiness or satisfaction a consumer experiences. The concept of marginal utility describes how much more value or happiness a consumer receives by consuming a unit of a good. According to microeconomic theory, consumer decisions are based on margins, which means that consumers constantly weigh the marginal value of purchasing extra items against the cost of doing so. A buyer purchases
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When the analysis of a change in profits only considers the costs and revenues that will change as the result of the decision, the decision is being made using
Answers
If the analysis of a change in profits only look at the costs and revenues, its decision is being made using , the decision being made using incremental.
What is profitability analysis?Analysts and investors are known to often use profitability ratios to look at and monitor a firm's ability to get income (profit) relative to its revenue, balance sheet assets, and others.
Profitability analysis is one that gives a firm a window into how the net profit is divided into. A lot of factors do contribute to the net profit figure.
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Select all that apply.
______ are examples of personal values.
A. Recognition
B. Relationships
C. Enthusiasm
D. Courage
Answers
B,c&d
Answer:
Relationships
Enthusiasm
Courage
Test tin
Select the correct answer
Which one of the following is not a
technique for coordination?
Committee
O Leadership
Conflict
Answers
Answer:
Conflict is not a technique for coordination.
: Flooring Materials (30 Marks / Minimum word count: 400 words). 2. You are the manager of a LCSD (Leisure & Cultural Services Department) park, in which you are in charge of a project to build an outdoor soccer pitch in the park. As three types of flooring materials are considered to be used in the soccer pitch, including grass, artificial grass, and cement, discuss the advantages and disadvantages of these three types of materials. (18 marks). And based upon this analysis, which type of materials would be used in the soccer pitch? (3 marks) Why
Answers
Artificial grass would be the suitable choice for the soccer pitch due to its durability, consistent playability, and lower maintenance requirements.
Which flooring material would be suitable for the outdoor soccer pitch in the LCSD park: grass, artificial grass, or cement, based on their advantages and disadvantages?In the context of building an outdoor soccer pitch in an LCSD park, the advantages and disadvantages of three flooring materials—grass, artificial grass, and cement—must be considered.
Grass offers a natural and authentic playing surface but requires high maintenance and is vulnerable to weather conditions.
Artificial grass requires less maintenance, provides consistent playability, and can be used in all weather conditions, but may have a different feel and higher initial costs.
Cement offers durability and low maintenance but poses higher injury risks and lacks shock absorption.
Based on these factors, artificial grass appears to be a suitable choice for the soccer pitch as it provides durability, consistent playability, and lower maintenance requirements, making it appropriate for continuous use and resilience in various weather conditions, while still offering a natural aesthetic for the park environment.
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science week1 qarter4 grade 8
Answers
Answer:
Explanation:
444
Cash Budgeting Dorothy Koehl recently leased space in the Southside Mall and opened a new business, Koehl's Doll Shop. Business has been good, but Koehl frequently runs out of cash. This has necessitated late payment on certain orders, which is beginning to cause a problem with suppliers. Koehl plans to borrow from the bank to have cash ready as needed, but first she needs a forecast of how much she should borrow. Accordingly, she has asked you to prepare a cash budget for the critical period around Christmas, when needs will be especially high. Sales are made on a cash basis only. Koehl's purchases must be paid for during the following month. Koehl pays herself a salary of $4,600 per month, and the rent is $1,800 per month. In addition, she must make a tax payment of $13,000 in December. The current cash on hand (on December 1) is $750, but Koehl has agreed to maintain an average bank balance of $7,000 - this is her target cash balance. (Disregard the amount in the cash register, which is insignificant because Koehl keeps only a small amount on hand in order to lessen the chances of robbery.) The estimated sales and purchases for December, January, and February are shown below. Purchases during November amounted to $150,000. Sales Purchases December $120,000 $35,000 January 46,000 35,000 February 66,000 35,000 Prepare a cash budget for December, January, and February. Do not round intermediate calculations. Round your answers to the nearest dollar. Negative values, if any, should be indicated by a minus sign. Collections and Purchases: December January February Sales (Collections) $ $ $ Purchases $ $ $ Payments for purchases $ $ $ Salaries $ $ $ Rent $ $ $ Taxes $ --- --- Total payments $ $ $ Cash at start of forecast $ --- --- Net cash flow $ $ $ Cumulative cash balance $ $ $ Target cash balance $ $ $ Surplus cash or loans needed $ $ $ Suppose that Koehl starts selling on a credit basis on December 1, giving customers 30 days
Answers
The preparation of cash budgets for December, January, and February for Koehl's Doll Shop are as follows:
Koehl's Doll Shop
Cash BudgetDecember January February
Sales $120,000 46,000 66,000
Total payments $169,400 $41,400 $41,400
Cash at the start of the forecast $750 --- ---
Net cash flow ($49,400) $4,600 $24,600
Cumulative cash balance ($48,650) ($51,050) ($33,450)
Target cash balance $7,000 ($7,000) ($7,000)
Surplus cash or loans needed ($55,650) $58,050 ($40,450)
What is a cash budget?A cash budget is a projection of cash receipts and payments for a period.
Cash budgets may be prepared weekly, monthly, quarterly, or yearly, as required.
Management prepares cash budgets to guide its cash flow activities and decisions, readying to invest excess cash, request loans, or generate sufficient revenue to meet its short-term obligations.
Purchases for November = $150,000
Sales Purchases
December $120,000 $35,000
January 46,000 35,000
February 66,000 35,000
Other cash payments:
Koehl's salary is $4,600 monthly
Rent is $1,800 monthly
Tax $13,000 in December
Thus, preparing a cash budget enables Dorothy Koehl to appreciate the timing of cash flows.
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confused on how to do (a) and (b) of this question. Shankar Company uses a perpetual system to record inventory transactions, The company purchases inventory on account on February 2 for $51.000 and then sells this inventory on account on March 17 for $72.100. Required: (aDetermine the financial statement effects for the purchase of inventory on account (b)Determine the financial statement effects for the sale of inventory on account. Complete this questlon by entering your anaware In the tabs below. Requireda Required b Determine the financlal statement effects for the purchase of inventory on account.(Amounts to be deducted should be entered with minus sign) IncomeStalomemt Revonuss aipsnses Wot income Balancs Shet Llabilles Stochholders' Equlfy Required b >
Answers
The financial statement effects for the sale of inventory on account are an increase in the revenue section of the income statement, a decrease in the inventory asset account, and an increase in the accounts receivable asset account.
(a) To determine the financial statement effects for the purchase of inventory on account, we need to consider how it affects the income statement and balance sheet.
1. Income Statement:
- There is no direct impact on the income statement when inventory is purchased on account. The purchase of inventory is not considered an expense until it is sold.
2. Balance Sheet:
- The purchase of inventory on account increases the inventory asset account, which is recorded as an increase in the assets section of the balance sheet.
- At the same time, the accounts payable liability account increases, as the company owes money for the inventory purchased on account. This is recorded as an increase in the liabilities section of the balance sheet.
In conclusion, the financial statement effects for the purchase of inventory on account are an increase in the inventory asset account and an increase in the accounts payable liability account.
(b) To determine the financial statement effects for the sale of inventory on account, we again need to consider how it affects the income statement and balance sheet.
1. Income Statement:
- The sale of inventory on account generates revenue. In this case, the revenue is $72,100. This revenue is recorded as an increase in the revenue section of the income statement.
- The cost of goods sold (COGS) is the expense associated with the sale of inventory. The cost of the inventory sold is deducted from the revenue to calculate the gross profit. In this case, the cost of goods sold is $51,000.
2. Balance Sheet:
- The inventory asset account decreases by the cost of goods sold ($51,000), as the inventory is no longer in the company's possession.
- The accounts receivable asset account increases by the selling price of the inventory ($72,100), as the company is owed money for the sale made on account.
In conclusion, the financial statement effects for the sale of inventory on account are an increase in the revenue section of the income statement, a decrease in the inventory asset account, and an increase in the accounts receivable asset account.
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how to get stimulus check 2021 if you didn t file taxes
Answers
Answer:
you may need to file a 2020 tax return even if you don’t traditionally file.
Explanation:
This FAQ can help you understand how the system works and what you can do to claim any stimulus that you may be eligible to receive.
8.2 Describe the two approaches to order management. How are they different? How are they related? Explain how order management and customer service are related.
Answers
There are two main approaches to order management: the traditional approach and the modern approach.
The traditional approach to order management is characterized by manual processes, such as writing orders on paper, and a lack of integration between different parts of the organization.
This approach can be slow and inefficient, and can lead to errors and delays in fulfilling orders.
The modern approach to order management, on the other hand, involves the use of technology and automation to streamline processes and improve efficiency.
This approach typically includes the use of an order management system, which can automatically process orders, track inventory, and coordinate fulfillment and delivery.
The modern approach also involves the integration of different parts of the organization, such as sales, marketing, and fulfillment, to ensure a smooth and seamless customer experience.
Both approaches to order management are related in that they both aim to fulfill customer orders and provide good customer service. However, the modern approach is generally more efficient and effective at achieving these goals, thanks to the use of technology and automation.
Order management and customer service are closely related, as effective order management is a key component of good customer service.
By efficiently processing orders, tracking inventory, and coordinating fulfillment and delivery, companies can ensure that customers receive their orders quickly and accurately, leading to a positive customer experience.
In addition, effective order management can help companies to identify and resolve any issues or problems that may arise, further enhancing customer satisfaction.
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LOTS OF POINTS (whoever writes over 175 words gets brainiest)
What is your dream entry-level job in business, finance, or marketing? What aspect of this job appeals to you? What will you find the most challenging or daunting about working in this field?
Answers
Answer: Defiantly Finance
Explanation: Finance is a very diverse field with lots of opportunities. You could go into consulting, accounting, or even investment banking. With most finance jobs as well you could be getting 100k a year or more right out of college.
whats an acrostic poem for economic
Answers
Answer:
An acrostic poem is a poem where certain letters in each line spell out a word or phrase. Typically, the first letters of each line are used to spell the message, but they can appear anywhere.
Here are some examples I found for economic.
The information regarding the acrostic poem for economic should be explained below:
The following information should be considered:
An acrostic poem is a poem in which certain letters in each line spell out a word or phrase. Typically, the first letters of each line are applied to spell the message, however they can appear anywhere.Learn more: https://brainly.com/question/4626564?referrer=searchResults
the central bank can reduce the level of credit by
Answers
Answer:it can increase the reserve requirements
Explanation:
Why is it so hard to find essentials during times of crisis?
Answers
Answer:
because they are in high demand because so many other people want them
An architect’s functions may include which of the following? (SELECT ALL THAT APPLY.)
-planning and designing houses, commercial buildings, and other structures
-ensuring worksite safety
-collaborating with engineers
-acting as a construction manager and supervising contractors
Answers
Answer:
the answer is planning, ensuring, and acting
Leadership conceptualized as that which moves followers to accomplish more than is usually expected of them is known as the ______.
Answers
Leadership conceptualized as that which moves followers to accomplish more than is usually expected of them is known as the Transformational leadership.
What is Transformational leadership?
Transformational leadership can be regarded as kind of leadership that motivate followers to accomplish the set goal of the organization excellently as expected of them by their leaders.
Therefore, Transformational leadership moves followers to accomplish more than is usually expected .
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PLEASE HELP! I'M DOING A TEST!!!
Which analyst position analyzes information using mathematical models to help business managers make decisions?
A) Budget Analyst
B) Management Analyst
C) Credit Analyst
D)Operations Research Analyst
Answers
Answer:
operations research analyst
taylorism attempted to use scientific principles to better handle which aspect of business?
Answers
Taylorism attempted to use scientific principles to better handle industrial production in a business.
The term Taylorism was a scientific management theory that was proposed by Frederick Taylor.
It was a factory management theory that was established in the nineteenth century in order to raise efficiency.
To do this every step in the industrial manufacturing process had to be broken down so that the production would be more specialized and the tasks would be repetitive.
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why would you want to offer a down payment on an item such as a car or a house?
Answers
Answer:
A down payment helps the buyer to obtain ownership of the property or vehicle and also helps them to reduce the monthly payment towards the mortgage principal and interest. The buyer can get a lower interest rate by paying a higher down payment.
1. A consumer credit score is the history of the ______ Debts and payments
Answers
A consumer credit score is the history of the individual's debts and payments.
What is consumer credit history?Credit history can be decribed as the record of how a person handles money as well as the debt, however this can encompass the credit card accounts and other loans.
It shoud be noted that Many people's credit history can be seen to have commence through the application for a loan or a credit card, whic is in line with the Federal Trade Commission,however one can select the History, and then pick between Recent.
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in its first year of operations, magna manufacturers had the following costs when it produced 100,000 and sold 80,000 units of its only product: manufacturing costs fixed $180,000 variable 160,000 selling and admin. costs fixed 90,000 variable 40,000 how much lower would magna's net income be if it used variable costing instead of full absorption costing?
Answers
Variable costing instead of full absorption costing would result in $72,000 lower net income for Magna Manufacturers.
To determine the difference in net income between variable costing and full absorption costing, we need to compare how the fixed manufacturing costs are treated in each method.
Let's calculate the difference in net income between the two costing methods:
Variable Costing:
Manufacturing Costs = Variable Manufacturing Costs = $160,000
Selling and Admin. Costs = Variable Selling and Admin. Costs = $40,000
Total Variable Costs = Variable Manufacturing Costs + Variable Selling and Admin. Costs
Total Variable Costs = $160,000 + $40,000 = $200,000
Contribution Margin = Sales - Total Variable Costs
Contribution Margin = ($0 x 20,000 units) - $200,000 = -$200,000
Net Income = Contribution Margin - Fixed Selling and Admin. Costs
Net Income = -$200,000 - ($90,000 + $0) = -$290,000
Full Absorption Costing:
Manufacturing Costs = Variable Manufacturing Costs + Fixed Manufacturing Costs
Manufacturing Costs = $160,000 + $180,000 = $340,000
Cost of Goods Sold = Manufacturing Costs / Units Produced x Units Sold
Cost of Goods Sold = ($340,000 / 100,000) x 80,000 = $272,000
Gross Profit = Sales - Cost of Goods Sold
Gross Profit = ($0 x 20,000 units) - $272,000 = -$272,000
Net Income = Gross Profit - Fixed Selling and Admin. Costs
Net Income = -$272,000 - $90,000 = -$362,000
Difference in Net Income:
Net Income (Variable Costing) - Net Income (Full Absorption Costing)
-$290,000 - (-$362,000) = $72,000
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demand-pull inflation occurs when
A.) the price of goods rises suddenly and extremely fast.
B.) consumers begin purchasing more goods.
C.) producers need more money to make and distribute goods.
D.) the government prints more money and pushes prices up.
Answers
Answer:
i think its b even tho im probbly wrong
When total cost is $10,000 and variable costs are $4,000 with an output level of 10 units, average fixed cost is $ and average variable cost is $
Answers
When the total cost is $10,000 and variable costs are $4,000 with an output level of 10 units, the average fixed cost is $600 and the average variable cost is $400.
To calculate the average fixed cost, we need to subtract the variable costs from the total cost and then divide it by the output level.
Average Fixed Cost = (Total Cost - Variable Costs) / Output Level
Given that the total cost is $10,000 and the variable costs are $4,000, we can calculate the average fixed cost as follows:
Average Fixed Cost = ($10,000 - $4,000) / 10 = $6,000 / 10 = $600
Therefore, the average fixed cost is $600.
To find the average variable cost, we divide the variable costs by the output level.
Average Variable Cost = Variable Costs / Output Level
In this case, the variable costs are $4,000, and the output level is 10 units.
Average Variable Cost = $4,000 / 10 = $400
Thus, the average variable cost is $400.
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what life? and how are you
Answers
Answer:
life is evrthing on earth that is living or requires certain things to live and If you want a lie im awsome.
What are extension strategies?
Answers
➣ Extension strategies are marketing techniques that seek to improve sales to extend the life of a product before decline begins.
➥ I hope I have helped you, greetings! Atte: ღTheGirlSadღAnswer:
Extension strategies are marketing techniques that seeks to improve sales to extend the life of a product before decline begins .A personal finance measure that compares an individual's monthly debt payment to his or
her monthly gross income.
O Debt-to-Income Ratio
O Credit Score
O Down Payment
O FHA
Please help
Answers
Answer:
a
Explanation:
how much you make verses how much you soend
The key outputs of the short-term financial planning process are the ________. A) cash budget, pro forma income statement, and pro forma balance sheet B) sales forecast and capital assets journal C) sales forecast and schedule of changes in working capital D) income statement, balance sheet, and source and use statement
Answers
The pro forma income statement, pro forma balance sheet, and cash budget are the main outcomes of short-term financial planning process.
What does cash budget formula mean?The cash budget calculates the available cash by adding the cash receipts' totals to the starting cash balance. All cash payments are deducted from of the available cash before determining the net cash surplus or deficiency for the quarter. This sum represents the possible ending cash balance.
Which four components make up a cash budget?The four components of the cash budget—cash revenues, cash disbursements, net increase in cash for the period, & new financing needed—represent a thorough plan of future cash flows.
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which of the following represents an aspect of the empathy dimension of servqual?
Answers
Assurance. By providing assurance, the company establishes trust, reliability, and confidence with its customers.
Empathy refers to the ability of service providers to recognize, understand, and take into account their customers' thoughts, feelings, and situations. Empathy is the fifth and final dimension of SERVQUAL.The Empathy dimension refers to the degree to which the company provides caring and individualized attention to its customers.
Following are the aspects of the empathy dimension of SERVQUAL: Understand the customer's needsGenuinely care about the customer Understand the customer's specific situation Empathize with the customer in regards to their problems. Assurance refers to the competency and trustworthiness of the firm and its employees.
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which of the following is an example of secondary data? a) a company performs a taste-test in a local supermarket b) a company conducts an online survey to collect data c) a company looks at a previous taste-test conducted in a local supermarket d) a company interviews doctors to find out how they recommend medications e) a company observes shoppers inside a store
Answers
Option c is an example of secondary data in this question. A company looks at a previous taste-test conducted in a local supermarket.
Data that is gathered by a user other than the main user is referred to as secondary data. Census data, information gathered by government agencies, company records, and data that was initially gathered for other research goals are all common sources of secondary data for social science. The following are benefits of using secondary data: The researcher cannot overlook the reality that a lot of information is documented, whether it has been processed intentionally or not, and that doing so typically saves time and effort compared to having to personally collect the information.
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