For computing the rate variance, the efficiency variance, and the total direct labor cost variance for each of these two months.
First, let's calculate the standard direct labor cost per unit:
Standard direct labor cost per unit = (standard hours per unit) x (standard labor rate per hour)
= 1.4 hours x $15/hour
= $21 per unit
Now we can calculate the variances for each month:
October:
Actual direct labor hours = 3,720 hours
Actual direct labor cost = $40,920
Actual units produced = 4,000 units
Rate variance = (actual labor rate - standard labor rate) x actual hours
= ($40,920 / 3,720 hours - $15/hour) x 3,720 hours
= $5,760 unfavorable
Efficiency variance = (actual hours - standard hours) x standard labor rate
= (3,720 hours - 1.4 hours x 4,000 units) x $15/hour
= $1,800 favorable
Total direct labor cost variance = actual cost - (standard cost per unit x actual units produced)
= $40,920 - ($21 x 4,000 units)
= $1,080 unfavorable
November:
Actual direct labor hours = 4,560 hours
Actual direct labor cost = $54,720
Actual units produced = 3,500 units
Rate variance = (actual labor rate - standard labor rate) x actual hours
= ($54,720 / 4,560 hours - $15/hour) x 4,560 hours
= $10,080 unfavorable
Efficiency variance = (actual hours - standard hours) x standard labor rate
= (4,560 hours - 1.4 hours x 3,500 units) x $15/hour
= $6,420 unfavorable
Total direct labor cost variance = actual cost - (standard cost per unit x actual units produced)
= $54,720 - ($21 x 3,500 units)
= $11,870 unfavorable
So the variances for October are:
Rate variance: $5,760 unfavorable
Efficiency variance: $1,800 favorable
Total direct labor cost variance: $1,080 unfavorable
And the variances for November are:
Rate variance: $10,080 unfavorable
Efficiency variance: $6,420 unfavorable
Total direct labor cost variance: $11,870 unfavorable
To know more about variances, refer here:
https://brainly.com/question/14116780#
#SPJ11
What can a boosted post help an advertiser achieve?
A boosted post helps an adviser to connect with the audience and gain trust.
Boosted post is a kind of post that is used on social media platforms in order to enhance the page of the platform and to attract audience to the page. Boosted post can help better communication with the audience along with the increase in a greater number of messages, calls and texts. Boosted posts help for better advertisements of the product. For example, A Chocolate brand may use Boosted posts to gain audience as well as consumers. Boosted posts helps an adviser to be discovered among people, to establish a benchmark in the market and to gain more and more customers. It's a kind of marketing strategy used for publicity purpose.
Learn more about Communication at:
brainly.com/question/25645043
#SPJ4
Why very few subsistence economies exist today
Answer:
As previously mentioned,
subsistence markets are
extremely vulnerable to
external influences.
Because of this
vulnerability, these economies are
becoming more scarce around the
world. In the past, for example, large
populations of indigenous peoples lived
throughout North America.
what are some basic marketing strategies
Claim Your Business Online.
think positively.ALWAYS THINK POSITVE!!!
promote it n social media.
be loud to people to everybody be aware of your buisness.
Advertise Online.
HOPE this helps
take care have a good day
Marcus set a goal to buy a used car in the next few months. He plans to make a $2,500
down payment and has already saved $1,300. If he can save $150 each month for this goal
to buy a car, how long will it take him to save the entire $2,500?
How should the headings of a resume be formatted so that they are clear and easy to find?
a. bold and italicized
b. capitalized and bold
c. underlined and italicized
d. capitalized and underlined
Answer:
B. capitalized and bold
Explanation:
Please mark my answer as the Brainiest!!!
Got it correct on Edge.
ATP is a vehicle manufacturing company which purchases most of the component from suppliers all around the globe. To minimize inventory costs, management decided to use Economic Order Quantity to control its inventory level. KWP is ATP’s long-term supplier for tire, and they have agreed to strict delivery time and quality requirement. Based on the 202X budget, the following information was collected from production:1. Based on pre-order, ATP requires 5250 units of tire each month for the first 4 months of the year and 3625 units of tires each month for the remainder of the year. 2. The carrying cost per unit is R2 per year. 3. The cost per order is R1,000.
Economic Order Quantity is 7071 units to control its inventory level. The following variables are necessary to determine the economic order quantity: demand rate, setup costs, and holding costs.
What are EOQ and its formula?The following is the EOQ formula. EOQ equals the square root of [(2 times demand times ordering cost)/carrying charge]. Demand. The EOQ's assumptions state that the demand is unchanged. The measure of demand is how much inventory is used annually or how many units are sold annually.
Given,
Annual Requirement = 50,000 ( 5250 x 4 + 3625 x 8)
Carrying cost = 2 per year
Order cost = 1000 per order
Required to calculate EOQ =?
EOQ = square root of [(2 times demand times ordering cost)/carrying charge]
EOQ = √ 2 x 50000 x 1000/2
EOQ = √50,000,000
EOQ = 7071 units
Thus, the EOQ is 7071 units. Economic order quantity is crucial since it aids businesses in effectively managing their inventories. Without these inventory management strategies, businesses will frequently store excess inventory during times of low demand while holding insufficient inventory during times of strong demand. Missed opportunities result from either issue.
Learn more about Economic Order Quantity here:
https://brainly.com/question/16986815
#SPJ1
What is the structure of Public corporation
Public corporate structures are managed by a board of directors. The members of the board are from all walks of industry and commerce. The chairmen of these corporations are appointed by the government. The entire capital is financed by the government.
What does deficit spending require a government to do?
lay off workers
cut taxes
take on debt
hire more workerscy
Answer:
c. TAKE ON DEBT
Explanation:
A deficit spending require a government to: C. take on debt.
What is deficit spending?A deficit spending can be defined as a situation in which the expenditure of government exceed the amount of money generated as revenues over a fiscal period.
This ultimately implies that, deficit spending typically occurs when government's expenditure is greater than its revenue over a specific period time.
Consequently, government tends to resort to borrowing or taking debt when there is deficit spending in its budget.
Read more on deficit spending here: https://brainly.com/question/1371898
Price Mart is considering outsourcing its billing operations. A consultant estimates that outsourcing should result in cash savings of $9,000 the first year, $15,000 for the next two years, and $18,000 for the next two years. Interest is at 12%. Assume cash flows occur at the end of the year.
Required:
Calculate the total present value of the cash flows
To calculate the total present value of the cash flows, we need to find the present value of each individual cash flow and then add them together.
First, let's find the present value of the cash savings for the first year. We can use the formula:
PV = FV / (1 + r)n
where PV is the present value, FV is the future value, r is the interest rate, and n is the number of periods.
Using the given values, we get:
PV of first year savings = $9,000 / (1 + 0.12)1 = $8,035.71
Next, let's find the present value of the cash savings for the next two years. Using the same formula, we get:
PV of second-year savings = $15,000 / (1 + 0.12)2 = $11,325.44
PV of third year savings = $15,000 / (1 + 0.12)3 = $9,552.28
PV of four year savings = $18,000 / (1 + 0.12)4 = $11,176.84
PV of five year savings = $18,000 / (1 + 0.12)4 = $9,441.68
The total present value of cash flows is the sum of the present values of each cash flow. Now, we can add up all the present values to get the total present value of the cash flows:
Total PV = $8,035.71 + $11,325.44 + $9,552.58 + $11,176.84 + $9,441.68 = $49,532.25
Therefore, the total present value of the cash flows is $49,532.25.
Know more about "present value".
https://brainly.com/question/28304447
#SPJ11
Help this is super confusing
Answer: Reasons
Explanation: Crystals are collected for jewelry, sugar, salt, computer chips. So if it shows you all those examples it would be collected for many reasons. I hope this helped!
The reasons to carry inventory in warehouse
You need to take calendar period of time (quarter, half year or a year ) and calculate with amount of volume ( have to be presented in report) what is the ideal amount of of inventory, including explanation of the decision based on price, size of the facility, volume of movements and a budget of operation. Including the explicit calculation with conclusions on every point of calculation
Have to be included :
-budget of the facility
-volume possibility
-calculations that bring you to the conclusion
- the number of product(s) that your warehouse can bare
-explanation of the calculation for the finance dep with pros for the improving profit
- have to be market value realistic
1000 words
pls answer it with step by step and in 1000 words
Title: Optimal Inventory Level Calculation for Warehouse Efficiency and Profitability
Introduction:
Inventory management plays a crucial role in warehouse operations, impacting the efficiency, cost-effectiveness, and profitability of a business.
Determining the ideal amount of inventory to carry is essential to ensure smooth operations, minimize costs, and meet customer demands. In this report, we will calculate the optimal inventory level for a warehouse based on a specific time period and volume, taking into account factors such as price, facility size, volume of movements, and the operational budget.
Budget of the Facility:
To start the analysis, we need to consider the budget allocated for inventory management. The budget will determine the financial constraints and influence the decision-making process. Let's assume an annual budget of $500,000 for inventory-related expenses.
Volume Possibility:
Next, we need to assess the volume of movements within the warehouse, including incoming and outgoing goods. Let's assume an average of 1,000 units per month, resulting in 12,000 units annually.
Calculation of Optimal Inventory Level:
a) Holding Costs:
Holding costs include expenses such as storage, insurance, obsolescence, and interest on financing inventory. Assuming a holding cost rate of 20%, we calculate the holding cost per unit as follows:
Holding Cost per Unit = (Holding Cost Rate * Unit Cost)
b) Ordering Costs:
Ordering costs involve expenses related to placing and processing orders, such as administrative costs, transportation, and communication. Assuming an ordering cost of $50 per order, we calculate the ordering cost per unit as follows:
Ordering Cost per Unit = (Ordering Cost / Annual Demand)
c) Economic Order Quantity (EOQ):
EOQ represents the optimal order quantity that minimizes the total costs of holding and ordering. It can be calculated using the following formula:
EOQ = √((2 * Annual Demand * Ordering Cost) / Holding Cost per Unit)
d) Safety Stock:
To account for demand variability, lead time, and unexpected events, it is essential to maintain a safety stock. Assuming a safety stock of 10% of the annual demand, we calculate the safety stock quantity as follows:
Safety Stock Quantity = (Safety Stock Percentage * Annual Demand)
e) Optimal Inventory Level:
Optimal Inventory Level = EOQ + Safety Stock Quantity
Warehouse Capacity and Product Range:
Consider the physical capacity of the warehouse and the number of different products it can accommodate. This information will help determine the maximum number of products the warehouse can handle effectively.
Financial Benefits:
By optimizing the inventory level, the finance department can achieve several benefits, including reduced holding costs, minimized stockouts, improved cash flow, and increased profitability. A well-balanced inventory level helps avoid overstocking, thereby reducing storage costs and the risk of obsolescence.
Conclusion:
In this report, we have calculated the optimal inventory level for a warehouse based on a specific time period and volume. By considering the budget, volume, holding costs, ordering costs, EOQ, safety stock, and warehouse capacity, we have determined the ideal inventory level to ensure efficient operations and maximize profitability.
It is important to review and adjust these calculations periodically to account for changes in market conditions, demand patterns, and business goals. Implementing an optimized inventory management strategy will lead to improved warehouse performance, reduced costs, and increased customer satisfaction.
For more such question on Inventory visit:
https://brainly.com/question/29636800
#SPJ8
What are some reasons that a bank statement might not match a cash balance of a business's records? Choose all answers that are correct.
Question 1 options:
posted payments on credit cards
bank errors
outstanding deposits
service charges
recorded checks
outstanding checks
Answer:
outstanding deposits, outstanding checks, posted payments on credit cards
Explanation:
Bank errors, Outstanding Deposits, Service Charges, and Outstanding checks are some reasons that a bank statement might not match the cash balance of a business's records. The correct options are B, C, D, and F.
What information does a bank statement provide?Name, address, account number, and bank branch information are all listed on bank statements for account holders. Additionally, a summary table that displays the statement's time frame, opening and closing bank balances, deposits made to the account, refunds, and cash withdrawals is included. In addition, fines levied by your bank as well as declined or canceled payments will appear on your statements.
Differences between the two records could be the result of Deposits in transit: The firm may have received cash or cheques, but the bank may not have yet recorded them. Outstanding checks are ones that have been issued but have not yet been processed. Bank service fees: Banks frequently deduct service fees.
Thus, the ideal options are B, C, D, and F.
Learn more about Bank Statement here:
https://brainly.com/question/22786262
#SPJ2
Which of the following statements is true about delegation of authority in the context of an organization?
A.It does not relieve a superior of accountability for a delegated job.
B.It does not give employees the power to make decisions about using resources to accomplishassigned tasks.
C.It does not hold an employee to whom the authority was delegated accountable for the results of atask.
D.It is meant to put additional pressure and burden on managers who are delegating tasks tosubordinates.
E.It is a concept popular only in small businesses and sole proprietorships
It does not relieve superior of accountability for delegated job is true about delegation of authority in context of organization.
What is accountability?When it comes to ethics and governance, accountability is synonymous with answerability, blameworthiness, culpability, and the requirement that an explanation be provided. It has been at the center of discussions relating to issues in the public sector, nonprofit, private (business), and individual contexts, just as it is in a governance-related aspect. Accountability in leadership positions refers to the recognition and assumption of responsibility for actions, products, decisions, and policies, as well as the administration, governance, and implementation within the parameters of the role or employment position, and it includes the duty to report, explain, and be held accountable for any consequences. Beyond its original meaning of "being held responsible for one's conduct," accountability in governance has evolved significantly. In other words, if there is no accounting, there is no responsibility. Good accounting processes are a must for accountability.
To learn more about accounting, visit:
https://brainly.com/question/13310721
#SPJ4
meaning of accounting
Answer:
Accounting is the process of recording financial transactions pertaining to a business.
20 points!
Which sentence indicates that Brian has instituted a loyalty program?
(1) Brian runs a juice bar that sells fresh juice products. (2) He hopes customers will drink the juices to stay healthy. (3) He offers a free juice for every customer who buys nine juices. (4) He also advertises the health benefits of fresh juice. (5) He hopes such an advertisement will attract new customers.
Answer:
So, the correct option is (3) He offers a free juice for every customer who buys nine juices.
Explanation:
A customer loyalty program or rewards program is a marketing strategy that rewards loyal customers that frequently engage with a brand.
So, the correct option is (3) He offers a free juice for every customer who buys nine juices.
Answer:
Offers free juice.....
Explanation:
correct on test
The _____ is a company wide consumer orientation with the objective of achieving long-run success.
a.marketing myopia
b.exchange process
c.marketing concept
d.seller's market
Option (C), With a focus on long-term success, the marketing concept promotes consumer orientation throughout the entire organization.
Which marketing tactic is in consumers' best interests over the long term?A company should consider the long-term interests of society when making marketing decisions, according to the marketing philosophy known as "societal responsibility of marketing."
What does the phrase "customer orientation" in marketing mean?Customer orientation is a business approach that puts the needs of the customer ahead of those of the corporation. Companies that put the needs of their consumers first understand that without consistently sharpening this focus, their business would fail. It's a way of thinking that links your company's goals with those of your clients.
Learn more about Customer orientation: https://brainly.com/question/29416126
#SPJ4
outline 2 advantages to H&H of using secondary market research
Maxdime Inc. is an international automobile manufacturer that has decided to work on low-cost fuel efficient motorbikes. Foray Inc., a domestic automobile company based in China, is willing to partner temporarily with the R&D team of Maxdime to design and launch motorbikes specially for the Chinese market. This is an example of ________.
i. entrepreneurial orientation
ii. non-equity-based strategic
iii. alliance sole proprietorship
iv. product differentiation
There are different kinds of services rendered. This above scenario is an example of non-equity-based strategic alliance.
What is non-equity strategic alliance?In a non-equity strategic alliance, firms often develop a form of agreement to distribute their resources without forming a separate entity or sharing equity.
Non-equity alliances are said to be a kind of loose and informal setting than a partnership that involves equity. This is said to be composed of a high majority of business alliances
Learn more about strategic alliance from
https://brainly.com/question/474034
during 2020, odyssey co. sold inventory to its wholly-owned subsidiary, civic co. the inventory cost $40,000 and was sold to lord for $58,000. for consolidation reporting purposes, when is the $18,000 intra-entity gross profit recognized? multiple choice when goods are transferred to a third party by civic. when civic pays odyssey for the goods. when odyssey sold the goods to civic. when civic receives the goods. no gain can be recognized since the transfer was between related parties.
The $18,000 intra-entity gross profit would be recognized for consolidation reporting purposes when the goods are transferred to a third party by Civic.
When a parent company sells inventory to its wholly-owned subsidiary, it is called an "intra-entity" transaction, meaning it is a transfer of goods or services between two entities within the same organization. In this case, Odyssey Co. sold inventory to its subsidiary, Civic Co. When consolidating financial statements, the intra-entity gross profit must be eliminated to avoid double-counting profits within the consolidated financial statements. This means that the $18,000 gross profit made by Odyssey Co. on the sale of inventory to Civic Co. is not recognized until the inventory is sold to a third party by Civic Co.
Therefore, the correct answer to the question is: the $18,000 intra-entity gross profit is recognized when the goods are transferred to a third party by Civic Co.
Learn more about gross profit here:
https://brainly.com/question/29064762
#SPJ11
25 points, whats the worst thing that has happened in your life?
Answer:
I went into debt in 2015 :(
Parents divorced, no rights anymore, half of my family hates me without meeting me in the first place
In the first two years of a new car's life, it loses:
Answer:
30% of the resale value
Explanation:
Which of the following paycheck withholdings goes towards taking care of the elderly
and disabled people?
Answer:
SSI Tax or SSDI
Explanation:
3. ______ are defined as goods or services that are required for health and safety.
Occupational Health and Safety are defined as goods or services that are required for health and safety. Information standards are guidelines governing the information that must be provided to consumers when they purchase specific goods.
What is the safety of goods?A safe product is one that delivers either no risk or a minimum tolerable level of risk, taking into account the product's typical or reasonably foreseeable use and the need to maintain a high level of consumer protection.
Occupational health and safety is a multidisciplinary discipline that deals with all elements of workplace health and safety, with a heavy emphasis on preventing workplace dangers.
Learn more about the safety of goods here:
https://brainly.com/question/28480753
#SPJ1
If the fed credits alex's checking account with $8,000 and alex's bank decides to keep the entire $8,000 in the form of reserves instead of lending it out, how much does the money supply increase?
If the fed credits Alex's checking account with $8,000 and Alex's bank decides to keep the entire $8,000 in the form of reserves instead of lending it out the money supply will increase by $8,000.
The total amount of money that can be used in a country's economy can be referred to as the money supply. The total amount of money, both in the form of cash and deposits that are readily convertible to cash, is included in the money supply.
The total amount of money and other liquid assets in an economy on the measurement date is known as the money supply. Both cash and deposits that can be accessed virtually as easily as cash are roughly included in the money supply. Through a mix of their central banks and treasuries, governments issue coins and paper money.
Learn more about money here:
https://brainly.com/question/22984856
#SPJ4
If there is a greater quantity supplied than the quantity demanded, in other words, an excess supply of a good or service you are most likely dealing with a
Which Option is correct please
price floor set below the equilibrium price.
price ceiling set below the equilibrium price.
price floor set above the equilibrium price.
If there is a greater quantity supplied than the quantity demanded, in other words, an excess supply of a good or service, you are most likely dealing with a price floor set above the equilibrium price.
In a market, the equilibrium price is determined by the intersection of the supply and demand curves. When the price floor is set above the equilibrium price, it creates a minimum price at which the good or service must be sold. This price floor encourages suppliers to increase their production, leading to a greater quantity supplied. However, if the price floor is set too high, it exceeds the equilibrium price, and the quantity supplied exceeds the quantity demanded. This results in an excess supply or surplus.
For example, let's consider a market for apples. If the equilibrium price is $2 per apple, but the government imposes a price floor of $3 per apple, suppliers will increase their production and offer more apples at the higher price. However, consumers are only willing to buy a certain quantity at the higher price. As a result, there will be excess supply of apples, as the quantity supplied exceeds the quantity demanded.
Therefore, when there is an excess supply of a good or service, it is likely due to a price floor set above the equilibrium price. The price floor creates a minimum price that exceeds what consumers are willing to pay, leading to an imbalance between supply and demand.
To know more about equilibrium price visit:
https://brainly.com/question/26075805
#SPJ11
the similarities of African countries
The similarities between African countries are:
Background on Agriculture in Africa
Despite the great potential for agricultural production in Africa,UNDP states that about 73% of the poor people living in rural areas subsist on less than a dollar a day.In addition, the continent has about 200 million of the world’s hungry people (Millennium Development Goals (MDGs) Technical Support Centre.Furthermore, available statistics suggest that about one-third of the continent’s population is malnourished.Africa is also the only continent where food production has been falling over the years.One of the maximum famous suggestions for the origins of the time period 'Africa' is that it's far derived from the Roman call for a tribe living in the northern reaches of Tunisia, believed to possibly be the Berber human beings. The Romans variously named these human beings 'Afri', 'Afer', and 'If'.
It is brimming full of big things. As the second biggest continent in the world, Africa is jam-full of a number of the world's biggest things: the biggest desolate tract within the globe, the Sahara wilderness (explore it on our Morocco itineraries). The longest river in the world, the Nile River, runs for 6,853km (4,258mi).
Luxembourg is a small, landlocked U. S . Positioned in western Europe and bordered by means of Belgium, France, and Germany. With a population of 642,371, Luxembourg is the simplest Grand Duchy in the world. Its GDP in keeping with a capita of $a hundred and forty,694 makes it the sector's richest.
Learn more about Africa here https://brainly.com/question/158070
#SPJ1
PLZ HELP ECON ?!!!!!
Answer:
Explanation:
you have to decresase it
Answer:
pick b, decreased.
Explanation:
a man borrowed r 3750 at the imple intret 7.5% p.a what will be the um he ha to depoit at the end of 73 day
We will receive Rs. 3806.25 after calculating the sum's simple interest. 3806.25. This implies that a man must deposit Rs. 3806.25 in his account at the end of 73 days.
What is Simple Interest?Simple interest is determined by multiplying a percentage of the principal (original amount) by the investment's duration. The simple interest can then be added to the principal amount to determine the investment's final value.
In its simplest form, interest is expressed as a percentage of the principal. For instance, if you agreed to repay a friend's $100 loan with 5% interest, the interest you would pay would only be 5% of 100: $100(0.05) = $5.
The formula of Simple Interest:
A = P(1+RT/100)
A = 3750(1+7.5×0.2/100)
T = 73/365 = 0.2years
= 3806.25
To know more about Simple Interest, visit:
https://brainly.com/question/25845758
#SPJ4
When building a team, which profession is most similar to that of the team leader
A. builder
B. teacher
C. physician
D. coach
Answer:D
Explanation:
When building a team, a profession is most similar to that of the team leader is a coach. Thus, the correct answer is option D.
What is leadership?The ability of an individual or a group of people to influence and direct followers or members of an organization, society, or team is referred to as leadership. Leadership is frequently associated with a person's title, seniority, or position in a hierarchy.
A leadership position requires us to handle a problem, a team, or an entire organization in an ethical and effective manner. Leaders can influence and direct their teams towards a common goal. Coaching needs to be focused on set of skills in which a person needs improvement. A coach provides guidance to help the team members to reach up to their maximum potential and achieve the goal. It derives its authority from the position on the team.
Therefore, coach would be the appropriate position which is similar to that of a team leader.
To learn more on leadership, click here:
https://brainly.com/question/31138185
#SPJ5
rose solutions has adopted a policy of increasing the annual dividend on its common stock at a constant rate of 2 percent annually. the firm just paid an annual dividend of $1.67. what will the dividend be five years from now?
Based on the information provided, Rose Solutions has a policy of increasing the annual dividend on its common stock by a constant rate of 2 percent annually. The firm just paid an annual dividend of $1.67. To calculate the dividend five years from now, we can use the formula for a constant growth rate dividend.Dividend_n = Dividend_0 * (1 + growth rate)^n
Where:
Dividend_n is the dividend in the future (five years from now in this case)
Dividend_0 is the current dividend ($1.67 in this case)
Growth rate is the constant rate of increase (2 percent annually in this case)
n is the number of years in the future (five years in this case)
Plugging in the values:
Dividend_5 = $1.67 * (1 + 0.02)^5
Calculating:
Dividend_5 = $1.67 * (1.02)^5
Dividend_5 = $1.67 * 1.10408
Therefore, the dividend five years from now will be approximately $1.84.
In summary, the dividend will be around $1.84 five years from now.
To know more about Rose solution visit:-
https://brainly.com/question/15413650
#SPJ11