Overhead information for Cran-Mar Company for October follows:
Total factory overhead cost incurred $ 30,800
Budgeted fixed factory overhead cost $ 7,133
Total standard overhead rate per machine hour (MH) $ 4.98
Standard variable factory overhead rate per MH $ 3.80
Standard MHs allowed for the units manufactured 4,400
Required:
1. What is the standard fixed factory overhead rate per machine hour (MH)? 1.18
2. What is the denominator activity level that was used to establish the fixed factory overhead application rate? NOT 6040. Is it 6045?
3. Two-way analysis (breakdown) of the total factory overhead cost variance: calculate the following factory overhead cost variances for October and indicate whether each variance is favorable (F) or unfavorable (U).
a. Total flexible-budget variance. NOT $8888
b. Production volume variance. $-1941 Unfavorable
c. Total overhead cost variance. NOT $6,947
4. Calculate the production volume variance and indicate whether the variance is favorable (F) or unfavorable (U). $-1941 Unfavorable
The standard fixed overhead rate is given as $1.18
What is Overhead Cost?A business's overhead cost pertains to its secondary expenses that are not specifically related to any one provided product or service. While an essential component for smooth day-to-day operation, such expenditures do not have a direct influence on the manufacturing or provision of said product or service.
Rent, utilities, insurance, personnel payments (non-production-based), materials such as stationary and supplies, and maintenance upkeep of industry tools all fall into this category. To distribute these various indirect financial requirements proportionally amongst departments or products, businesses often rely upon specific predetermined calculation methods or pre-set charges.
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a personal narrative in a professional workplace of a time when you observed an unethical situation, with your thoughts and opinions
Organizations' treatment of their employees and the way they serve their customers are both governed by workplace ethics.
A situation in a professional workplace of a time when you observed an unethical situation-I used to be a sales manager for Vodafone. I observed several methods of product sales while I was just starting out at the company. For a variety of clients, Vodafone sells a wide range of goods. Nonetheless, the salesperson's incentive is strong for some items. One such product was postpaid SIM.
When I first started working there, I observed a lot of my coworkers employing unethical tactics to increase postpaid SIM sales, such as deceiving customers, defrauding them, or providing false information.
This was considered to be unethical and improper according to the company rules. Still they insisted on doing that.
They ultimately sold a large number of postpaid SIMs, but not without doing significant harm to consumer happiness.
My thoughts and opinions-I personally believe that ethics should be the main priority of any workplace.
Even if some of my coworkers at Vodafone behaved unethically, I made the decision to prioritise customer pleasure. Although my initial sales were modest, I eventually developed a strong clientele. Three years later, I received a promotion to Vodafone's Area Head position.
Ethics should thus always come first at work.
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Which of the statements would be true about Time Value of Money? $1 received right now is better than $1 promised to you Present value is always higher than future value. Having $1,000,000 on your banking account at 6% would bring $60,000 for the years to come $10,000 kept under the mattress and taken out in 10 years is less than $10,000 you receive as income in 10 years.
Answer: $1 received right now is better than $1 promised to you, is a true statement.
Explanation: The time value of money, depends upon several factors, such as inflation, opportunity cost, interest rates, etc.
To elaborate, we have:
Inflation: It is simply as, the value of $1 would decline over time, gradually. That is, the amount of goods and products, $1 can buy now, will always be less than what it`d be able to buy later (from now).Opportunity cost: If you get your $1 now, and not later, you might be able to invest it in several potentially good places, and increase its value, which (opportunities) might expire or end, later.Interest rates: It is simply as, if you get your $1 later, and not now, you might loose the interest you might have got on your $1 (if had taken earlier).Read more about Time Value of Money:
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What information should a writer include in the applicability section of a policy document?
O A.
B.
O C.
O D.
details about how to implement the policy
details about who the policy affects
details about when the policy is enforced
details about why the policy is required
Answer:
Details about who the policy affects is the correct answer.
Explanation:
The applicability section of a policy document ought to incorporate subtle elements almost who the policy affects, or in other words, who is subject to the policy. This area ought to depict the scope and reach of the arrangement, and distinguish any people, bunches, or substances that are influenced by the approach. It ought to to show any exemptions or uncommon cases where the arrangement may not apply.
Whereas points of interest about how to execute the policy, when the policy is implemented, and why the approach is required are all critical to incorporate in a policy report, they are ordinarily secured in other segments of the report such as the execution, authorization, and method of reasoning areas, separately. The applicability section ought to center particularly on distinguishing the groups or people to whom the policy applies.
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"Gollee those cats sure go through a lot of food," Geoff exclaimed as he saw the
shopping list pad that had been pre-printed with the words "cat food" a the top. He
pondered a different approach to shopping for the furry little darlings, reviewed his
shopping records, and discovered the following. The price of cat food has held steady
at 89 cents per can. Despite feigning indifference, each of the seven cats nibbles their
way through an average of one can per day, three hundred sixty-five days a year.
The price of gasoline has held constant at $3.50 per gallon and his pickup uses a
gallon each way to the cat food store. The cost to hold a can of cat food is 10% of
the unit price.
Use the information in Scenario 9.9 to determine the average pantry space
occupied by cat food if each can takes up 13 cubic inches and Geoff obeys an EOQ
policy for managing the cat food purchase process.
The average pantry space occupied by cat food is 1794 cubic inches.
To calculate the average pantry space occupied by cat food, we need to first determine the EOQ (Economic Order Quantity) for managing the cat food purchase process. EOQ is the optimal order quantity that minimizes the total cost of ordering and holding inventory
Using the given information, we can calculate the EOQ as follows:
Annual demand for cat food = 7 cats x 365 days x 1 can per day = 2,555 cans
Ordering cost per order = cost of one-way trip to the store = $3.50
Holding cost per unit = 10% of the unit price = 0.10 x $0.89 = $0.089
EOQ = √(2 x 2,555 x $3.50 / $0.089) ≈ 138 cans
This means that Geoff should order 138 cans of cat food at a time to minimize the total cost of ordering and holding inventory.
Now, to calculate the average pantry space occupied by cat food, we can use the formula:
Average pantry space = EOQ x space per unit
Space per unit = 13 cubic inches
Average pantry space = 138 cans x 13 cubic inches per can = 1794 cubic inches
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"Gollee those cats sure go through a lot of food," Geoff exclaimed as he saw the shopping list pad that had been pre-printed with the words "cat food" a the top. He pondered a different approach to shopping for the furry little darlings, reviewed his shopping records, and discovered the following. The price of cat food has held steady at 89 cents per can. Despite feigning indifference, each of the seven cats nibbles their
way through an average of one can per day, three hundred sixty-five days a year. The price of gasoline has held constant at $3.50 per gallon and his pickup uses a gallon each way to the cat food store. The cost to hold a can of cat food is 10% of the unit price.
What will be the average pantry occupied by the cat food?
Exercise 2.3 1. Use the data set, which represents the student-to-faculty ratios for 20 public colleges.
13 15 15 8 16 20 28 19 18 15 21 23 30 17 10 16 15 16 20 15
(a) Construct a frequency distribution for the data set using five classes. Include class limits, midpoints, boundaries, frequencies, relative frequencies, and cumulative frequencies.
(b) Construct histogram , frequency polygon and ogive curve .
2. Using the histogram shown here, do the following.
(a) Construct a frequency distribution; include class limits, class fre- quencies, midpoints, and cumulative frequencies.
(b) Construct a frequency polygon.
(c) Construct an ogive.
The relative frequency is 0.1
What is an Ogive?An ogive is a graphical representation of a cumulative frequency distribution.
It is a curve that shows the cumulative frequency of observations or data points on the vertical axis and the corresponding class intervals on the horizontal axis. The ogive can be constructed by plotting the cumulative frequencies at the upper or lower class limits of each class interval and then connecting the plotted points with a smooth curve.
The ogive is useful for visualizing the distribution of data and identifying patterns and trends. It can also be used to determine the median or quartiles of a dataset. Additionally, ogives can be used to compare different datasets or distributions by plotting them on the same graph.
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2. What is the difference between a low-cost strategy and a differentiation strategy? How should a differentiated biotechnology organization and a low-cost fast-food organization design their structures and cultures to promote their respective competitive advantages?
A low-cost strategy gives options in minimum costs and a differentiation strategy means presenting differentiated or unique products.
While a low cost organization should place more emphasis on effectiveness and cost cutting a differentiated organization should prioritize innovation and creativity.
Offering goods or services at a lower cost than rivals is a low cost strategy. A differentiation strategy entails providing goods or services that are distinctive and different from those of rivals in order to draw in price sensitive customers who are searching for the best deals. The objective is to draw clients who are prepared to pay more for the special qualities or advantages of the good or service.
The structure and culture should support innovation, research and development and creativity in a differentiated biotechnology organization. Teams should be cross functional, multicultural, and encouraged to take chances and try out novel concepts. The organizational structure and culture of a low cost fast-food chain should encourage effectiveness, cost reduction and process improvement.
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ASSIGNMENT QUESTION 1a) Give 5 definition of business finance and there authors?
Here are five distinct definitions of business finance, along with the authors of each:
Five Here are five distinct definitions of business finance, along with the authors of each:
Five definition of business finance and there authors?1. "Business finance primarily deals with the acquisition and use of funds by a business firm." Brigham, Eugene F.
2. "Business finance is concerned with the procurement, allocation, and control of financial resources in order to meet the financial needs and objectives of an organization." - Dharwadkar, Ravi E.
3. "Business finance is the art and science of managing money in a commercial setting." Leslie Lum's
4. "Business finance encompasses all of the financial activities required to operate a business." Eddie McLaney's
5. "Business finance is the financial management of a business enterprise, which includes the acquisition and use of funds, financial planning and forecasting, budgeting, cash management, credit management, and so on."
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planning - principle of management
Watch the video in MindTap on "Plant Fantasies" and answer the following questions:
1. What does the owner say about her preference for planning (structure vs non structure)?
2. How would you describe your personal structural preference? Do you like a highly structured plan or a highly unstructured plan? Which is best, according to the book?
3. What did you find most interesting about this Company Video? Why?
Respond to three other students.
The owner of the company in the "Plant Fantasies" video prefers non-structure planning. She believes that having too much structure can stifle creativity and prevent her from taking advantage of opportunities as they arise.
The book generally recommends a balanced approach to planning, where there is enough structure to provide guidance and direction but also enough flexibility to adapt to changing circumstances.
I found it interesting how the company owner in the video emphasized the importance of staying true to her passion and values in running her business. She also talked about the challenges of finding the right balance between structure and creativity, which is a common struggle for many entrepreneurs.
Response to student 1: I agree with your observation about the importance of finding a balance between structure and flexibility in planning. Too much structure can lead to rigidity and resistance to change, while too little structure can result in chaos and confusion.
Response to student 2: It's interesting that you prefer highly structured plans. While structure can provide clarity and direction, it's important to remain open to new opportunities and be able to adapt to changes in the environment.
Response to student 3: I also found it inspiring how the company owner in the video was able to turn her passion for plants into a successful business. It's a great example of how following your interests and values can lead to success and fulfillment.
Common characteristics and
township entrepreneurship
Answer:
What is the characteristics of entrepreneurship?Business owners share many of the same entrepreneur characteristics: leadership, vision, discipline, curiosity, creativity, adaptability, and the ability to take measured risks. Developing these traits can help you become successful when launching your business.
Which is the first step in marginal analysis?
A) Determine what price the company wishes to charge for its products.
B) Identify fixed and variable costs for specified quantities of product.
C) Find the marginal cost of producing one additional unit of a product.
D) Calculate the marginal revenue of producing one additional unit of a product.
:-- --:
Answer:
B) Identify fixed and variable costs for specified quantities of product.
Question 2
With bad credit you are more dependent on others how ?
Having bad credit can make you more dependent on others because it will be difficult to secure loans or credit cards on your own
How does bad credit make you more dependent on others?When we have bad credit, it can be difficult to secure loans or credit cards on your own which can make you more reliant on others, such as family or friends, to cosign or provide financial support.
Also, the landlords may require a cosigner or deposit due to your credit history which can further increase your dependence on others. Without the ability to obtain credit or secure housing, you may find yourself in a position where you need to rely on others for basic necessities and financial stability.
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