The St. Lucia Blood Bank, a private charity and partly supported by government grants, is located on the Caribbean island of St. Lucia. The blood bank has just finished its operations for September, which was a particularly busy month due to a powerful hurricane that hit neighboring islands causing many injuries. The hurricane largely bypassed St. Lucia, but residents of St. Lucia willingly donated their blood to help people on other islands. As a consequence, the blood bank collected and processed over 20% more blood than had been originally planned for the month.
A report prepared by a government official comparing actual costs to budgeted costs for the blood bank appears below. Continued support from the government depends on the blood bank's ability to demonstrate control over its costs.
St. Lucia Blood Bank Cost Control Report For the Month Ended September 30
Actual Results Planning Budget Variances
Liters of blood collected 620 500
Medical supplies $9,250 $7,500 $1,750
U Lab tests 6,180 6,000 180 U
Equipment depreciation 2,800 2,500 300 U
Rent 1,000 1,000 0
Utilities 570 500 70 U
Administration 11,740 11,250 490 U
Total expense $31,540 $28,750 $2,790 U
The managing director of the blood bank was very unhappy with this report, claiming that his costs were higher than expected due to the emergency on the neighboring islands. He also pointed out that the additional costs had been fully covered by payments from grateful recipients on the other islands. The government official who prepared the report countered that all of the figures had been submitted by the blood bank to the government; he was just pointing out that actual costs were a lot higher than promised in the budget. The following cost formulas were used to construct the planning budget:
Cost Formulas
Medical supplies $15.00 q
Lab tests $12.00 q
Equipment depreciation $2,500
Rent $1,000
Utilities $500
Administration $10,000 + $2.50 q
Required: 1. Complete the performance report for September using the flexible budget approach. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)
Answers
Liters of blood collected: Favorable variance (120 liters). Total expense: Unfavorable variance ($2,790)
St. Lucia Blood Bank Cost Control Report For the Month Ended September 30
Actual Results Planning Budget Flexible Budget Variances
Liters of blood collected 620 500 620 None
Medical supplies $9,250 $7,500 $9,300 $50 U
Lab tests $6,180 $6,000 $7,440 $1,260 F
Equipment depreciation $2,800 $2,500 $2,500 None
Rent $1,000 $1,000 $1,000 None
Utilities $570 $500 $620 $120 U
Administration $11,740 $11,250 $11,900 $650 U
Total expense $31,540 $28,750 $32,760 $2,010 U
The flexible budget is prepared based on the actual volume of blood collected (620 liters). The variances show the difference between the actual results and the flexible budget amounts. Medical supplies and utilities have unfavorable variances, indicating higher costs than planned.
Lab tests and administration have favorable variances, indicating lower costs than planned. Equipment depreciation and rent show no variance, as the actual costs matched the budgeted amounts.
Overall, the total expense variance is unfavorable, indicating higher costs than budgeted.
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Related Questions
on july 9, the owners hired 4 employees, 2 each to handle the lunch shift and the dinner shift, respectively. one employee was solely responsible for delivering pizzas, while the other was responsible for taking orders for the company's eat-in clientele. each employee was paid an hourly salary amounting to $400 per week (a week ran from sunday to saturday). the employees were paid the monday following the week of work. therefore, the week starting sunday july 9 was paid on monday july 17, the week of sunday july 16 was paid on monday july 24, and the week of july 23 was paid on monday july 31.
Answers
On July 9, the owners hired 4 employees, 2 for the lunch shift and 2 for the dinner shift. One employee delivered pizzas while the other took orders for eat-in customers. Each employee was paid $400 per week. The weeks ran from Sunday to Saturday, and the employees were paid on the Monday following the week of work. For example, the week starting on Sunday, July 9, was paid on Monday, July 17. The week starting on Sunday, July 16, was paid on Monday, July 24. And the week starting on Sunday, July 23, was paid on Monday, July 31.
About EmployeeWorkers, workers, employee, workforce or employees are basically human beings who use their energy and ability to get a return in the form of income in the form of money or other forms to Employers or entrepreneurs or employers. The difference is that employees are workers within the company and are often associated with administrative matters. While employees generally are those who work in government agencies alias civil servants. Actually, those three words, workers, employees, and employees both receive wages.
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What percentage of the world's intake of
calories is derived from plants?
A. 88%
B. 74%
C. 62%
D. 48%
Answers
Answer:
A
Explanation:
Just 15 crop plants provide 90 percent of the world's food energy intake, with three rice, maize and wheat - making up two-thirds of this.
Source: https://www.fao.org/3/u8480e/u8480e07.htm
Click this link to view O*NET's Tasks section for Postal Service Mail Carriers. Note that common tasks are listed
toward the top, and less common tasks are listed toward the bottom. According to O*NET, what are some common
tasks performed by Postal Service Mail Carriers? Check all that apply.
installing mailboxes
O obtaining signed receipts for mail
sorting mail
delivering mail
O supervising other mail workers
reviewing job applicants
Done
Answers
Answer:
1. obtaining signed receipts for mail
2. sorting mail
3. delivering mail
Explanation:
Postal Service Mail Carrier's main responsibility is to deliver mail to their intended receipts. The Postal Service mail carriers are the last people in the mail distribution channel. They are the people who get mail to the receipts and have them sign for it.
The Postal service mail carriers will be issued with mail, usually for a particular route. They will sort to identify the address where each mail is to be delivered. Upon arriving at the correct address, the postal service mail carrier will hand over the mail to the recipient and have them sign as an acknowledgment of receipt.
Answer:
AEF
Explanation:
Which provision is NOT a requirement in a group life policy?
Answers
The provision that is NOT a requirement in a group life policy is the conversion provision.
In a group life insurance policy, there are several provisions that outline the terms and conditions of the policy. These provisions include the grace period provision, incontestability provision, and conversion provision. However, the conversion provision is NOT a requirement in a group life policy.
The conversion provision allows policyholders to convert their group life insurance policy into an individual policy if they leave the group. This provision is beneficial for individuals who may lose their group coverage due to retirement, change of employment, or other reasons. By converting the policy, they can continue to have life insurance coverage on an individual basis.
While the conversion provision provides flexibility for policyholders, it is not mandatory for insurance companies to include this provision in a group life policy. Some group life policies may offer the conversion provision as an optional benefit, but it is not a requirement.
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Accidental death and dismemberment coverage (AD&D) is not a requirement in a group life policy.
Explanation:In a group life insurance policy, there are several provisions that are typically required for various facets. However, one provision that is not a requirement is the provision for accidental death and dismemberment coverage. This provision provides additional benefits to the beneficiaries if the insured dies due to an accident or suffers a loss of limb or sight.
While it is a common provision in many group life policies, it is not mandatory and can be optional as well. Other provisions that are typically required in a group life policy include provisions for death benefits, conversion rights, and waiver of premium.
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1. Your friend asks to borrow $50 and offers to pay you back with interest. What factors
would you consider in your decision to accept or decline their request?
Answers
The factors that you have to think about would before giving out the loan would be the following:
The loan periodThe ability to pay back the loanThe interest that is on the loanHow the money is to be returned.What is a loan?This is the term that is used to refer to an amount of money that would be given to a person that is the borrower by the lender for a period pf time and for them to pay back with interest.
To be able to determine if you are to give out a loan, you have to take the ability of the person to pay you back the amount as a fator.
Also you have to check the character of the person that you are to loan the money to.
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What are the examples of centralized management?
Answers
When an organisation uses centralised management, only the executives are responsible for planning and making decisions. All other levels of management at the company receive guidance from these senior managers, who assist in putting the decision into action.
In an organisational system known as centralised management, a small group of people control the majority of corporate decisions. For instance, a small family restaurant run by a married couple is probably managed centrally.
Apple Computers is a well-known example, where most of the company's strategic direction is decided at the very top (formerly by Steve Jobs personally), with lower levels of management and staff being closely coordinated to carry out those objectives.
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Identify the problem by analyzing the given scenario. An IT software company is losing market share because it fails to launch new products in a timely manner. Decisions are centralized at the top, and employees have little or no voice. One way to solve this problem is to use teams to eliminate ____ in the company.
Answers
Explanation:
to eliminate their best efforts in the company
Answer:
"bureaucratic barriers"
Explanation:
i got it right on plato
Which is an example of an external factor that may affect purchase decisions?
A. Entrepreneurs risk appetite
B. Money available with the entrepreneur
C. Government policies specific to the entrepreneurs business
D. The entrepreneurs business objectives and goals
Answers
ok so plz do not take these points.
if ur reading this plz listen to ghost by badflower and then answer and tell me what u think and if u have also recently felt like that.
Answers
Answer:
its a good song i think its touching and yes i have recently felt like that.
Explanation:
A Mercedes-Benz priced the same as a Ford Focus might not sell as well because of:
a. history of performance of similar Mercedes products
b. overall company reputation
c. psychological factors
Answers
d. How trustworthy do you think the primary source is? Do you think this source Might
be biased? Why? (1-2 sentences. 0.5 points)
Answers
Answer:
um where is the paragraph can I see it I can give you the answer once I can see if the source is biased.
Explanation:
show me the paragraph so I can help answer your question.
Arrange the following revenues in the federal government, from greatest to
least.
Drag each item to put them in the correct order.
(2 points)
= excise taxes
= Social Security and Medicare taxes
= corporate income taxes
= individual income taxes
= customs duties
= miscellaneous revenue
Answers
Social Security and Medicare taxes
Corporate income taxes
Excise taxes
Custom duties
miscellaneous revenue
The financial system's primary concern is funneling money from ________ to _________? wealthy individuals, individuals. lender-savers, borrower-spenders borrower-spenders, lender-savers foreign countries, domestic businesses
Answers
The financial system's correct answer concerns funneling money from borrower-spenders to lender-savers.
The financial system is a complex network of institutions, markets, and intermediaries that are primarily responsible for channeling funds from people who have them but do not need them to those who need them but do not have them. he primary concern of the financial system is to facilitate the flow of funds from borrower-spenders, who borrow money and spend it, to lender-savers, who save money and lend it.
Borrower-spenders use the funds they borrow to finance their consumption and investment needs, while lender-savers lend their money to earn a return on their investment. Therefore, the financial system's primary concern is to funnel money from borrower-spenders to lender-savers to ensure that funds are efficiently allocated and that economic growth and development are stimulated.
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Explain how the Fed's monetary policy affects the unemployment level. The Fed's monetary policy -Select- interest rates, which affect the cost of borrowing by households and businesses which in turn, -Select- the demand for products and services. The aggregate demand for products and services -Select- the number of people employed by businesses and therefore -Select- the unemployment level.
Answers
Answer:
17
Explanation:
What accounts are affected. issued check $644 to pay for an advertisement
Answers
Answer:
Bank and Advertisement accounts
Explanation:
Journal entries
Advertisement A/c Dr $644
To Bank A/c $644
(Being advertisement expenses made by cheque)
Bank and Advertisement accounts are affected
The following are examples of the functions of an office.
a. Visions and responsibility
b. Aims and profits
c. Production and preservation of data
d. Customers and responsibility
Answers
Answer:
?
Explanation:
?
Do you agree that our society is more of a melting pot where our cultures
influence and change one another, or are we more of a tossed salad where
different cultures coexist but remain independent from one another? How
does this affect the job of a marketer or advertiser?
Answers
Answer:
I do agree that society is a melting pot because in almost all societies cultures mix. One example of this is the mestizo, people of European and Indian descent who mix both of their cultures in art and or architecture to show how they mix in real life.
Explanation:
What are the marketing objectives when a product is at the introduction stage?
A.
to maximize market share
B.
to build brand loyalty and maximize profits while maintaining market share
C.
to create awareness, organize customer trials, and develop a market for the product
D.
to reap profits and try to retain the product in the market
E.
to create brand loyalty
Answers
Answer:
C. to create awareness, organize customer trials, and develop a market for the product
Explanation:
The introduction stage is the first one in the product life cycle. At this stage, the product has just been launched in the market. The sales growth rate is low as customers are not aware of the commodity. The business incurs losses by having the product in the market.
The marketing goal at this stage is to create awareness about this product. The business makes efforts to create demand through promotions and awareness creation. The stage is associated with heavy advertisements as the business tries to popularize and establish a market share for the product.
Answer:
C. to create awareness, organize customer trials, and develop a market for the product
Blackmon Brothers law firm used 165 legal pads over the last three weeks (15 days). It takes them three days to get more, and they want to keep two day's worth as a safety stock. How low can their stock get before they need to order more?
Answers
Answer:
55 legal pads.
Explanation:
The level at which Blackmon Brothers should order more legal pads is the re-order point.
The calculate re-order point, we require
Average daily usage
Delivery lead time
Safety stock is needed.
For Blackmon, Average daily usage will be 165 divided by 15 days
=165/15
=11 legal pads per day.
Lead time is 3 days
Formula for getting the re-order point
= (average daily usage x delivery time) + requires safety stock
For Black man
= (11 x 3)+ (11 x 2)
=33 + 22
=55 legal pads.
They should re-order when they have a balance of 55 legal pads.
Define Red Gross Society.
Answers
Answer: The Indian Red Cross Society is a voluntary humanitarian organization to protect human life and health based in India.
Explanation: It is part of the International Red Cross and Red Crescent Movement, and so shares the Fundamental Principles of the International Red Cross and Red Crescent Movement.
A prospective buyer made an offer to purchase a property. The owner responded with a counteroffer. While the buyer was reviewing the counteroffer, the owner received a better offer. The owner can accept the second offer if
1. it satisfies or exceeds all terms included in the counteroffer.
2. the owner withdraws the counteroffer before it is accepted.
3. the owner gives the first buyer notice that another offer was received and an opportunity to revise the bid.
4. the first buyer is informed, in writing, of the owner's intent to accept another offer.
Answers
Answer:
2, the owner withdraws the counteroffer before it is accepted.
Explanation:
When an offer is met with a counteroffer, until the counteroffer is accepted, there is always still the chance to withdraw the counteroffer. This usually happens when there is a new development as regards the offer.
From the above question, it can be seen that the owner of the property responded with a counteroffer to the buyer's offer. Now, while the counter offer is being considered by the buyer, the owner gets a better offer and as such needs to withdraw the counteroffer given to the buyer.
Since there hasn't been any positive response to signify interest or agreement to the counteroffer, the counteroffer can still be withdrawn by the buyer as there is no contract yet.
In the event that, the buyer accepts the counteroffer of the owner, the new offer will have to be forgone as there is an agreement already.
Cheers.
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Lifelong Learning: Mastery Test
4
Select the correct answer.
Why do many organizations encourage their employees to be lifelong learners?
O A employees will be more able to handle increasing responsibilities
OB. employees will be more likely to follow company policies
OC employees will be more likely to remain loyal to the company
OD. employees will be more likely to interact well with each other
Reset
Next
Answers
Answer: A. employees will be more able to handle increasing responsibilities.
Explanation:
Lifelong learning refers to the ongoing pursuit of knowledge for personal or professional reasons. When a person is a lifelong learner, such person has a growth mindset and pushes himself or herself to find new ideas to solve challenges.
Several organizations encourage their employees to be lifelong learners in order for such employees to be able to handle increasing responsibilities. Some organizations send their employees to study some courses which will help in their growth and development and also to be able to handle certain responsibilities.
Through which tool does the federal reserve affect money available for banks to loan? discount rate money multiplier open-market operations reserve requirement
Answers
The federal reserve affects money available for banks to loan by using the reserve requirement tool.
What is the reserve requirement in monetary policy?Reserve requirement is said as the set-aside funds by the commercial banks that they utilize for meeting their liabilities and instant withdrawal from customers.
Therefore, when Fed increases the rate of reserve requirement then banks need to hold the large amount which reduces their ability to loan more funds. It ultimately reduces the money supply and vice-versa.
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Answer:
d or Reserve requirement
Explanation:
flex point 2023
Money Matters Help
You just got your first job and are planning to rent your own apartment. what steps would you follow to make this process easier?
Answers
Explanation:
A Step by Step Guide Through the Rental Application Process
Fill out a rental application. Let's start with the basics: the apartment application itself. ...
Pay the apartment application fee. ...
Expect credit and background checks. ...
Prove you can pay rent. ...
Figure out if you need a co-signer. ...
Show them that you are an agreeable renter. ...
Have good personal references. ...
Sign the lease.
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In which item category would the sourcing strategies of ensuring availability of supply, focusing on relationship building, encouraging process integration and innovation, frequent communications, and establishing mutually agreeable supplier performance criteria, be appropriate
Answers
how has smartphones product changed the way business is conducted? What business innovations have occurred as a result of this product being offered?
Answers
answer amd explanation: i think smartphones are a distraction.
Which is a source of passive income? (1 point)
O working as a consultant
O owning luxury cars
teaching about personal finance
O owning dividend stocks
Answers
Answer:
owning dividend stock is answer
what is the future value of 20 periodic payments of 4770 each made at the beginning of each period and compunded at 8%
Answers
The future value of 20 periodic payments of 4770 each made at the beginning of each period and compounded at 8% is $235,747.32
Future Value = $4,770 × Future value of an annuity due (8%, 20)
Future Value = $4,770 × 49.42292
Future Value = $235747.328
Future Value = $235,747.32
A current asset's future value (FV), which is based on an assumed growth rate, is its value at some point in the future.The FV calculation allows investors to predict an investment's return with reasonable accuracy.Due to market volatility and a lack of certainty regarding future investment conditions, it can be difficult to calculate the FV of a market investment.The FV of an asset can be calculated in two different ways: using simple interest and using compound interest.Present value (PV) is the antithesis of future value (FV); the former determines what something will be worth in the future, whereas the latter determines what it will be worth today in the future.Learn more about Future Value, here
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Scenario: Country W has placed a trade embargo on Country L because they are not seeing eye to eye on global political issues. As a result of this embargo, Country L is having difficulties receiving the metals needed to continue production of their famously reliable cars. Answer the following question according to the information presented in the scenario. By creating an embargo, Country W is creating a(n)_____. The embargo will cause Country L's productivity to_____.
Answers
Answer: Punishment and Decrease
Explanation: I got it right.
The correct options are (A) By creating an embargo, Country W is creating a barrier to trade. The embargo will cause Country L's productivity to (B) decrease or decline, as they are having difficulties receiving the metals needed for production of their cars.
What is barrier in trade?A barrier in trade refers to any obstacle that hinders free and open trade. Such hindrances can be created intentionally or unintentionally by governments or other players in the market. Barriers in trade can take on many forms, such as tariffs, quotas, embargoes, regulations, and subsidies. They affect international trade by increasing the costs of goods, limiting consumer choices and reducing the amount of trade between countries. The result is often a negative impact on the economy, as barriers lead to decreased productivity, reduced competition, and increased costs. Countries often use trade barriers to protect their domestic industries or to correct perceived trade imbalances.
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Which of the following does NOT explain why many people are not living on a budget?
People do not balance their checkbook on a monthly basis.
People find spending money a hobby and form of entertainment.
Or government is not modeling good budgeting skills.
People are unable to earn enough money to meet their financial obligations.
Answers
Answer:
People do not balance their checkbook on a monthly basis.
Explanation:
I just took the test