Answers
The material, labour and total price variance is computed in the tables as below for metlock inc.
Both the direct materials and the direct labour variances in cost accounting have a price/rate and a quantity/efficiency component. These variances are favourable if the actual cost is lower than the standard allowed, and unfavourable if it is higher.
Actual quantity x actual price/rate Actual quantity x standard price/rate Standard quantity x standard price/rate
Direct materials $7,600 $7,410 (1,900 x $3.90) $8,073 ((230 units x 9 pounds) x $3.90)
Direct labor $7,630 $7,700 (700 x $11) $7,590 ((230 units x 3 hours) x $11)
Material variances:
Formula Variance
Total material variance (AQ x AP) - (SQ x SP) $7,600 - $8,073 = $473 F (because actual is better than budget)
Material price variance (AQ x AP) - (AQ x SP) $7,600 - $7,410 = $190 U
Material quantity variance (AQ x SP) - (SQ x SP) $7,410 - $8,073 = $663 F
Labour variances:
Formula Variance
Total labour variance (AH x AR) - (SH x SR) $7,630 - $7,590 = $40 U (because actual is worse than budget)
Labor Rate variance (AH x AR) - (AH x SR) $7,630 - $7,700 = $70 F
Labor efficiency variance (AH x SR) - (SH x SR) $7,700 - $7,590 = 110 U
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Related Questions
Rajesh would like to buy his first car and the one he has his eye on is $25,000, plus an extra 13% HST for a total price of $28,250. The dealership has a deal for $0 down payment and charges 2.79% interest on the loan. Rajesh plans to make car loan payments weekly and has accepted the maximum loan repayment period of 8 years.
How much will his weekly care loan payment be?
How much will he have paid to the dealership by the time his loan is paid off?
How much interest will be paid?
Answers
1. The weekly car loan payment that Rajesh will make is $75.79.
2. The total amount will pay to the dealership by the time the loan is fully paid off is $31,527.43.
3. The amount of interest to be paid is $3,277.43.
Data and Calculations:Cost of car = $25,000
Harmonized Sales Tax = 13%
Total price of car = $28,250
Down payment = 0%
Interest rate = 2.79%
N (# of periods) = 416 weeks (52 x 8 years)
I/Y (Interest per year) = 2.79%
PV (Present Value) = $28,250
FV (Future Value) = $0
P/Y (# of periods per year) = 52 weeks per year
C/Y (# of times interest compound per year) = 52 weeks
Results:
Weekly Payment = $75.79
Sum of all periodic payments = $31,527.43
Total Interest = $3,277.43
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Alpha Software Inc. made an advance rent payment of $6,000 for its warehouse. The accounting period for which the company paid the rent was from January to June 2014. The accountant recorded a rent payment of $1,000 in the month of January, 2014. Which accounting principle guides this action? A. accounting periodicity B. matching principle C. historical cost D. business entity
Answers
Based on the fact that the accountant recorded the rent payment for the month of January, the principle here is the B. matching principle.
What is the matching principle?The matching principle calls for apportioning expenses to the period they were incurred so that they can be matched with the revenue in that period.
The accountant recorded $1,000 for rent in January $1,000 would be apportioned per month based on the total rent paid for 6 months.
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Job destroyer? ~ The Wellcome Global Monitor is the world’s largest study into how people around the world think and feel about science and major health challenges. The battle between man and machines goes back centuries. Are they taking our jobs? Or are they merely easing our workload? According to the article in The Guardian titled "Technology has created more jobs than it has destroyed, says 140 years of data", a study by economists at the consultancy firm Deloitte concluded that rather than destroying jobs, technology has been a "great job-creating machine". The article further states that machines will take on more repetitive and laborious tasks but seem no closer to eliminating the need for human labor than at any time in the last 150 years.
Answers
Crawl Inc., has 1,000 shares of 6%, $50 par value, cumulative preferred stock and 50,000 shares of $1 par value common stock outstanding at December 31, 2017, and December 31, 2018. The board of directors declared and paid a $2,000 dividend in 2017. In 2018, $10,000 of dividends are declared and paid. What are the dividends received by the common stockholders in 2018
Answers
Answer:
total dividends distributed to common stock $6,000
dividends per common stock $0.12
Explanation:
preferred stock dividends = 1,000 x 6% x $50 = $3,000
since they are cumulative, if the dividends are not paid during one year, they must be paid in the next periods
the distribution of the $10,000 in dividends in 2018:
preferred dividends = $1,000 + $3,000 = $4,000common stock dividends = $6,000dividends per common stock = $6,000 / 50,000 = $0.12
Which costs are variable costs?
A. Rent
B. Machinery
C. Raw material
D. Marketing
E. Monthly salary
Answers
Answer:
its b
Explanation:
Answer:
B. Machinery
Explanation:
QUESTION 11
Whether targeting consumers or resellers, marketers need to focus on:
O Buying center synergy.
O Corporate profit sharing
O Reducing derived demand
O Creating value for their customers
Answers
Marketers need to focus on creating value for their customers. The Option D.
Why is creating value for customers crucial for marketers?Creating value for customers is crucial for marketers as it directly impacts customer satisfaction and loyalty. When marketers prioritize creating value, they focus on understanding customer needs and preferences, developing products or services that meet those needs and delivering exceptional customer experiences.
By doing so, they differentiate themselves from competitors, build strong customer relationships and drive business growth. When customers perceive value in what a company offers, they are more likely to make repeat purchases.
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How long has Alice Spring Tow Truck been in operation, and what services do they offer?
Answers
Based on historical facts and the company's information, the Alice Spring Tow Truck has been in operation for more than 35 years, and they offer services like equipment relocation, freight transport, and vehicle recovery services.
What is Alice Spring Tow Truck?Alice Spring Tow Truck is an Australian transport and logistics company.
The company offers various logistics services around Australia and it is located in Central Australia for over 20 years.
Alice Spring Tow Truck is known to have been in operation for varying services such as:
relocation of heavy equipment freight transport vehicle recovery services. Towing of vehicle, etc.Also, Alice Spring Tow Truck operated majorly in places like
YularaTennant CreekMarlaUluruOther regions in Central AustraliaHence, in this case, it is concluded that Alice Spring Tow Truck is a logistics servicing company.
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The following information relates to Wildhorse Co. for the year 2022.
Retained earnings, January 1, 2022
Dividends during 2022
Service revenue
Salaries and wages expense
Your answer is incorrect.
$51,840
5,400
Net income/(loss) $
67,500
30,240
After analyzing the data, compute net income.
Advertising expense
Rent expense
Utilities expense
Other comprehensive income (net of tax)
$1,940
11,230
3,350
430
Answers
The net income is given as $20,740.00, the comprehensible income is given as $21,170.00
What is net income?This is the term that is used to refer to the earnings that would be made from a business minus the cost that was incurred for the business.
How to solve for the net incomeThe net income is given as the revenue - expenses.
The revenue = $67500
other expenses would be = salary + advert + rent + utility expenses
This is given as
30240.00 + 1,940.00 + 11,230.00 + 3,350.00 = 46,760.00
The net income = $67500 - 46,760.00
= $20,740.00
The comprehensible income is given as $20,740.00 + 430 = $21,170.00
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The town of Draper, with a population of 20,000, sits adjacent to State University, which has an enrollment of 27,000 students. Downtown Draper merchants have long complained about the lack of parking available to their customers. This is one primary reason for the steady migration of downtown businesses to a mall several miles outside town. The local chamber of commerce has finally convinced the town council to consider the construction of a new multilevel indoor parking facility downtown. Kelly Mattingly, the town’s public works director, has developed plans for a facility that would cost $4.5 million to construct. To pay for the project, the town would sell municipal bonds with a duration of 30 years at 8% interest. Kelly also estimates that five employees would be required to operate the lot on a daily basis, at a total annual cost of $140,000. It is estimated that each car that enters the lot would park for an average of 2.5 hours and pay an average fee of $3.20. Further, it is estimated that each car that parks in the lot would (on average) cost the town $0.60 in annual maintenance for cleaning and repairs to the facility. Most of the downtown businesses (which include a number of restaurants) are open 7 days per week.
Required:
a. Using break-even analysis, determine the number of cars that would have to park in the lot on an annual basis to pay off the project in the 30-year time frame.
b. From the results in (A), determine the approximate number of cars that would have to park in the lot on a daily basis. Does this seem to be a reasonable number to achieve, given the size of the town and college population?
Answers
Answer: See explanation
Explanation:
a. Let the break even sales be represented by x.
Firstly, we will calculate the total fixed cost which will be:
Investment = $4.5million/30 = $150,000
Add: Annual labor cost = $140,000
Add: Interest = 8% × $4.5million = $360,000
Total Fixed cost = $650000
The total variable cost will be: = 0.60 × x = 0.60x
Therefore, total cost:
= fixed cost + variable cost
= 650000 + 0.60x
Total revenue = Selling price × sales
= 3.20 × x = 3.20x
Break even point will now be:
Total revenue = Total cost
3.20x = 650000 + 0.60x
3.20x - 0.60x = 650000
2.60x = 650000
x = 650000/2.60
x = 250000
Therefore, number of cars that would have to park in the lot on an annual basis to pay off the project is 250000.
b. The approximate number of cars that would have to park in the lot on a daily basis will be:
= 250000/365 days
= 684.91
=685 cars
How can the implementation of Supply Chain Risk Management processes be organised within and across companies?
Answers
Supply Chain Risk Management (SCRM), it is "the application of strategies to manage both routine and extraordinary risks along the supply chain based on continual risk assessment with the purpose of minimising vulnerability and maintaining continuity."
The implementation of Supply Chain Risk Management activities within and between businesses can be organised like these:
Thus, through aforementioned ways the implementation of Supply Chain Risk Management processes be organised within and across companies.
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how can planning and forecasting positively affect your operation
Answers
Ben invest $10,000 at a rate of interest of 5 percent for 40 years. Which of the following statements about the return on the investment is true?
Answers
Answer:
a. Ben will receive a significant amount at the end of the investment period, due to the feature of compounding.
Multiple choice options
a. Ben will receive a significant amount at the end of the investment period, due to the feature of compounding.
b. Ben will receive no interest on his investment at the end of the investment period.
c. Ben will receive an interest of $5,000 at the end of ten years.
d. Ben will receive more money at 3 percent rate of interest instead of the existing rate.
e. Ben will receive more money at the end of 30 years compared to the money received at the end of 40 years.
Explanation:
Ben will be earning 5% of his investment of $10,000 every year for 40 years.
At the end of every year, the 5% earned will be added to $10,000. It means the principal and interest will increase at the end of every year. After 40 years, Ben will receive a huge amount, as indicated below.
The formula is A= p x ( 1 x r)^n
A = $10,000 x ( 1+0.05)^40
A = $10,000 x (1.05)^40
A= $10,000 x 7.039988
A= 70,399.88
A=$70,400
Ben invest $10,000 but will receive $70,400 after 40 years
What is the best transfer method to use for a perpetual record?
Answers
Answer:
General correspondence: General correspondence can use the perpetual transfer method where the unwanted communication between the employees and the managers is continuously put in inactive records.
Which of the following would be a valid reason why a policy premium would be higher than the standard premium?The insurer is not a member of the MIBThe agent quoted the wrong priceThe insured does not have the necessary financial reservesThe insured does not meet established underwriting requirements
Answers
A valid reason why a policy premium would be higher than the standard premium the insured does not meet established underwriting requirements. Thus the correct option is the last one.
What is a policy premium?When you obtain an insurance plan, you must pay a fee which is called a Premium. An individual or company pays an annual premium in exchange for a policy of coverage. The amount you pay each month for health insurance is the health premium.
The compensation created by combining the reasonable rate with the appropriate exposures unit is known as the standard premium. Standard insurance is insurance at the standard rate if the risk is not related to knowledge assessment.
Therefore, the last option is appropriate.
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Organizations come across too many challenges or uncertainties about the human resource of the 21st century including globalization, the advent of the latest technology use, more and more innovations, economic and political instability, and ethical and ecological challenges.” With reference to the aforementioned statement, elaborate on how each of the above-mentioned factors related to dynamics changes can pose a challenge and a change in HRM practice. (15) Job analysis is considered as one of the critical processes that cannot be avoided during a recruitment process. Suggest some of the crucial factors that need to be considered when embarking on a job analysis process
Answers
HRM practises may be impacted by issues with globalization, technology, innovation, instability, ethics, and ecology. The work tasks, necessary skills, knowledge, and talents should all be taken into account while doing a job.
Why is human resource development so important to organisations' success in the twenty-first century?The goal of human resource management in the twenty-first century is to increase an organisation's productivity by giving its personnel the best working conditions. When working in a good environment, the employees can give their best performance.
What role does human capital play as one of the key drivers of organisational success?Human resources can be used to develop, strengthen, or change an organisation's culture. Pay, performance evaluation, training and development, hiring and onboarding, and reiterating the core principles.
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Select the examples that best demonstrate likely tasks for Transportation Systems/Infrastructure Planning, Management, and Regulation workers. Check all that apply.
Tanya sells airplane tickets to customers.
Stefan repairs bus engines that aren’t working properly.
Fletcher gathers and analyzes information about traffic accidents at an intersection.
Heidi sells vehicle parts to repair shops.
Jay inspects the cargo being loaded onto a ship.
Edie explains the goals of a transportation project to members of the community.
Answers
Answer:
C,E,F
Explanation:
Edge 2021
Answer:
C, E, F
Explanation:
Its correct i did it
First question
Business3 minutes ago
Answers
Answer:
??
Explanation:
where is the question brother
The U.S. national average door-to-doctor wait time for patients to see a doctor is now 21.3 minutes. Suppose such wait times are normally distributed with a standard deviation of 6.7 minutes. Some patients will have to wait much shorter than the mean to see the doctor. Based on this information, 10% of patients will have to wait less than how many minutes to see a doctor? Round your answer in one decimal place.
Answers
To find the number of minutes that 10% of patients will have to wait less than, we need to use the standard normal distribution table. First, we need to find the z-score corresponding to the 10th percentile.
Using a standard normal distribution table, we find that the z-score corresponding to the 10th percentile is approximately -1.28.
We can use the z-score formula to find the corresponding raw score (number of minutes) in the distribution:
z = (x - μ) / σ
where x is the raw score, μ is the mean, and σ is the standard deviation.
Plugging in the values we have:
-1.28 = (x - 21.3) / 6.7
Solving for x:
x = -1.28 * 6.7 + 21.3
x = 12.06
Therefore, approximately 10% of patients will have to wait less than 12.1 minutes to see a doctor.
The U.S. Securities Act focuses on investments through the
a. Preferred market.
b. Common market.
c. Secondary market.
d. Primary market.
Answers
Answer: c. Secondary market.
Explanation:
The U.S. Securities Act was passed in 1933 in the aftermath of the Great Depression which saw the Stock market crash and investors lose massive amounts of money.
The Act is meant to regulate the activities of the Stock market which is where stocks that have already been issued are traded. This means that the stock market is a secondary market therefore the Act focuses on investments through the secondary market.
If you deposit $2,500 into your savings account and your bank pays you 7% annual compound interest, how much will you have in 3 years?
Answers
Answer:
Explanation: 7/100=0.7
2500*0.7*3=5250
5250/2500=2.1
2.1*3*0.7=4.41
4.41*2.1=9.261
Hence you will have 9.261 in 3 years
because he identifies mistakes in others and disciplines employees for poor performance, some leadership experts might qualify president donald trump as a .
Answers
Because he identifies mistakes in others and disciplines employees for poor performance, some leadership experts might qualify president Donald Trump as a transactional leader.
What is a Transactional leader?
A transactional leader is an individual who focuses on maintaining an orderly workplace and achieving organizational goals through a system of rewards and punishments. This type of leadership style relies heavily on an organized chain of command and a clear system of expectations. Transactional leaders have a clear vision and set of goals, and they use a combination of incentives and punishments to motivate employees to meet these goals. They typically focus on short-term objectives, emphasizing efficiency and productivity.
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Store
D
5
4
E
2
1
1
2 3 4
5 6
7
8
9
10
11
12x
-1
Apartment Buildings
If the company constructs 9 apartment buildings, the number of stores will be 34
If the company is producing at point C, the opportunity cost of building 3 more stores will be
5.11 apartment buildings.
Reset
Next
Answers
5 ways that bussiness bulid relationships with customers
Answers
Answer:
How to Build Strong Customer Relationships
Write killer emails.
Embrace pathological empathy.
Blow away their customer service expectations.
Seek feedback and show you genuinely care.
Be consistent and timely in your interactions.
Establish trust.
Reward loyalty.
Explanation:
Answer:
Communicate
Exceed expectations
Ask for feedback
Connect
Show appreciation
Explanation:
b) Upscale hotels in the United States recently cut their prices by 20 percent in an effort to bolster dwindling occupancy rates among business travelers. A survey performed by a major research organization indicated that businesses are wary of current economic conditions and are now resorting to electronic media, such as the Internet and the telephone, to transact business. Assume a company’s budget permits it to spend $5,000 per month on either business travel or electronic media to transact business. Graphically illustrate how a 20 percent decline in the price of business travel would impact this company’s budget set if the price of business travel was initially $1,000 per trip and the price of electronic media was $500 per hour. Suppose that, after the price of business travel drops, the company issues a report indicating that its marginal rate of substitution between electronic media and business travel is 1. Is the company allocating resources efficiently? Explain
Answers
It is to be noted that the company is not allocating resources efficiently. See the attached image for the Graphically illustration required.
What is allocation of resources?This is simply the ability to efficiently distribute resources across all aspects of production.
What is the proof that the company is misappropriating resources?MRS is the gradient of the budget line is defined by the change in the Y axis divided by the change in the x axis.
In other words, MRS is the number of units of x that a customer is ready to give up in exchange for units of y.
Note that
the MRS fo the budget line is:
-dy/dx
= -10.6/6.25
= -1.6, that is media 1.6 units of media is given for every unit of business travel.
However, the corporation claims that the MRS is -1, which indicates that for every unit of business trip, they give away one unit of media. In other words, they are paying a price equal to the cost of business travel, resulting in a resource misappropriation.
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The more productive a company can be, the greater its return on that investment and the higher the profit.
True
False
Answers
Answer: true
Explanation:
Which is not usually a warning sign of fraud
Answers
“Which is not usually a warning sign of fraud” is a question that asks for an exception to the warning signs of fraud. Fraud is a deliberate deception to secure unfair or unlawful gain. The warning signs of fraud include things like missing documents, unexplained transactions, and unusual behavior. However, there are some things that are not usually considered warning signs of fraud such as a lack of internal controls or a lack of segregation of duties.
2-2
Why is it often necessary and advantageous to have inter-
mediaries in a marketing or distribution channel? (AACSB:
Communication; Reflective Thinking)
J!
Answers
It is often necessary and advantageous to have intermediaries in a marketing or distribution channel because of the below-given reasons.
Marketing intermediates, also known as distribution intermediaries, are companies engaged by product manufacturers to market, sell, and distribute their products to end users.
Wholesalers, merchants, agents, marketing services firms, distribution organizations, and financial institutions are among them.
Goods promotion is assisted by agents and marketing firms, while wholesalers, retailers, and distribution organizations offer the product to customers.
Intermediaries frequently give substantial benefits:
they help buyers identify what they need, they assist set standards, and they facilitate comparison shoppingall of which boost efficiency and keep markets running smoothly.Hence, it will be beneficial to have intermediaries in the marketing or distribution channel.
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The Rogers Corporation has a gross profit of $784,000 and $314,000 in depreciation expense. The Evans Corporation also has $784,000 in gross profit, with $48,900 in depreciation expense. Selling and administrative expense is $200,000 for each company.
Required:
a. Given that the tax rate is 40 percent, compute the cash flow for both companies.
b. Calculate the difference in cash flow between the two firms.
Answers
Answer:
Particulars Rogers Evans
Gross profit 784,000 784,000
(-) Selling and admin expenses (200,000) (200,000)
(-) Depreciation (314,000) (48,900)
EBT 270,000 535,100
(-) Taxes at 40% (108,000) (214,040)
EAT 162,000 321,060
(+) Depreciation 314,000 48,900
Cash flows 476,000 369,960
Difference in cash flows = $476,000 - $369,960
Difference in cash flows = $ 106,040
Critique the case: How did Karin originally approach the project? Comment specifically about Karin’s project management skills and approach? 2. While assessing the case, draw a project organigram, identifying the role-players/ stakeholders and whether they were all in original agreement of the project?
Answers
The project organigram should identify the role-players and stakeholders involved in the project and determine if they were all in original agreement.
Who are the role-players and stakeholders involved in the project?The project organigram outlines the key individuals and entities involved in the project including project managers, team members, clients, executives and any other relevant stakeholders.
It also highlights their roles, responsibilities, and relationships within the project structure. Assessing whether they were all in original agreement requires examining the project's initiation phase and the documented agreements such as contracts, memorandums of understanding or project charters.
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Ray Kroc's motivation to keep going and not give up can be summarized by this quote from the film:
"One word... PERSISTENCE. Nothing in this world can take the place of good old persistence. Talent won't. Nothing's
more common than unsuccessful men with talent. Genius won't. Unrecognized genius is practically a cliche.
Education won't. Why, the world is full of educated fools. Persistence and determination alone are all powerful."
Put these four characteristics in order from most important to least important; talent, genius, education and
persistence. Be sure to give an explanation for why you ordered the characteristics in this way. You can use details
from the movie and/or experiences from your own life to support your answers.
Answers
Ray Kroc has always held the view that achievement is the result of pure effort and unwavering perseverance. "Persistence is the only quality that matters in this life. Nothing is more prevalent than talented men who fail in their endeavors."
Who was Ray Kroc?Businessman Raymond Albert Kroc was American. In 1961, he bought the fast food chain McDonald's, and from 1967 until 1973, he served as its CEO.
The globalization of McDonald's, which made it the most prosperous fast food company in the world, is attributed to Kroc.
The McDonald brothers and Kroc frequently disagreed over the modifications Kroc wanted to make to their original recipe. As his frustration level rose, Kroc made the decision that he wanted complete control of McDonald's.
He, therefore, acquired Mcdonald's for $2.7 million in cash in 1961.
Ray Kroc has always believed that success comes from unshakable perseverance and sincere work.
The only trait that counts in this life is perseverance.
The prevalence of talented guys failing in their undertakings is unmatched.
Unappreciated genius is nearly a proverb; genius won't do it.
Therefore, Ray Kroc has always held the view that achievement is the result of pure effort and unwavering perseverance. "Persistence is the only quality that matters in this life. Nothing is more prevalent than talented men who fail in their endeavors."
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