Answer:
Refined's place of business
Explanation:
Based on the information given about the business transaction that want to occur between Refined Grains inc and Sunny Cereal Company, UCC which is fully known as UNIFORM COMMERCIAL CODE requires that the delivery of the refined oat that Refined Grains inc agreed to sell to Sunny Cereal Company should take place at Refined place of business, which means a company that want to sell their product to another company must tend to carryout the delivery of the Refined product at the Refined place of the business
Jill's coworkers describe her decision-making approach as satisficing, meaning that she:_____________
A. conducts a retrospective analysis to see what can be learned from past successes or failures.
B. seeks and uses information consistent with prior beliefs and ignores information that contradicts those beliefs.
C. takes advantage of opportunities to abandon existing mind-sets and defines creative solutions to problems.
D. views problems from a fresh perspective and defines numerous alternative solutions to problems.
E. searches for and chooses acceptable solutions rather than trying to make the optimal decision.
Answer: E. Searches for and chooses acceptable solutions rather than trying to make the optimal decision.
Explanation:
Management workers who are at the top of decisions in most firms and want to just satisfactory results won't really put in much effort in going the extra mile with optimal decision's. Jill is satisfactory with a normal result hence would see no need in seeking complex of much more taksing solutions.
Suppose that foreigners had reduced confidence in U.S. financial institutions and believed that privately issued U.S. bonds were more likely to be defaulted on. U.S. net exports would a. rise which by itself would increase aggregate demand. b. rise which by itself would decrease aggregate demand. c. fall which by itself would decrease aggregate demand. d. fall which by itself would increase aggregate demand.
Answer:
Option C, fall which by itself would decrease aggregate demand, is the right answer.
Explanation:
Option C is correct because the reduction in the confidence level in U.S financial institutions will decrease the U.S net export. Moreover, if the foreigner feels insecure about the U.S bonds then this insecurity will induce them to demand less. Therefore, when the net export decreases the aggregate demand will also fall. Thus we can say option C is right.
Q 5.34: A wholesaler offers credit terms 1/10, n/30. A fabric store bought goods worth $6,500 from the wholesaler. Within the discount period, the fabric store returned defective goods worth $300 and paid the amount owed. How much did the wholesaler receive as payment
Answer:
the wholesaler received $6,138 as payment.
Explanation:
The seller would receive the the amount owing to customer less the return credit and cash discount of 1 %.
The calculation of this amount is as follows :
Account Receivable $6,500
Less Return Credit ($300)
$6,200
Less Cash discount ($6,200 × 1%) ($62)
Payment $6,138
Conclusion :
the wholesaler received $6,138 as payment.
Two foreign nations decided to impose tariffs on imports from all countries. They set up a free trade area, removing all trade barriers between themselves but maintaining tariffs on imports from the rest of the world. Country A now begins to import sugar from Country B. Prior to this, Country A was producing sugar at a higher cost so it now benefits from this transaction. This is an example of
Answer:
customs union
Explanation:
The arrangements between the two countries is called a customs union. In a customs union agreement, the member countries apply common external trade policies with the rest of the world while ensuring free trade and common tarrif amongst themselves. This is a partial form of economic integration that aims to boost economic progress among countries while also strengthening political and cultural ties among them
Managers at the Blue Dragon Inc., an international company with operations in China and the United States, are often heard complaining about the difficulties in achieving synergy and cooperation between the employees of both the countries. After extensive research it was concluded that the cultural differences between these countries, which resulted in different work-related values, caused the lack of cooperation. In order to effectively tackle this problem, Blue Dragon Inc. should
Answer:
Explanation:
In order to effectively tackle this problem, Blue Dragon Inc. should vary its management processes and practices to account for these differences. By varying these processes and practices they are applying the best of both cultures into their company, thus allowing the companies in each country to better understand how the other one functions. This will drastically increase communication and cooperation between these two international company's.
the direct consumers of the product are the client public. target markets are defined much more easily. goods are marketed more often than ideas or services. the techniques used by for-profit organizations to define target markets cannot be applied. development of a marketing strategy should focus on the general public.
Answer:
This question is incomplete, the questions itself is missing. The correct question is the following:
"In nonprofit organizations," ...
And the correct option is the first one: The direct consumers of the product are the client public.
Explanation:
To begin with, the nonprofit organizations are those that focus on the fact of giving its service or product to the public in general because there is an extremely importance in the good itself so that is why that the organization focus on reaching every member of the community because the product or service should be at the reach of all. And that is why that in the nonprofit organizations the direct consumers of the product or service are the client public.
Suppose that Prince Puckler's Ice Cream sells 100 cones each day. It sells each cone for $3, its average variable cost is $2.50, marginal cost is $3, and the average total cost is $3.10. From this, one knows the firm:
Answer:
The firm should continue operation
Explanation:
Under the production cost theory, the comparison of price (P) and average variable cost (AVC) is used to decide whether a firm should continue operation or shut down under the following two scenarios:
Scenario 1: If P > AVC, continue operation
Scenario 2: If P < AVC, shut down.
Under scenario 1, it is better for a firm to continue operation since P is greater than AVC. This implies that the firm can fully pay for its variable cost of production and partially pay for a part of the fixed cost but not fully. As result, loss will be minimized by the firm if it continues operation.
Under scenario 2, the better decision for the firm is to shut down operation. The reason is that the firm is unable to even fully pay for its variable cost. In order to minimize cost, the firm is advised to shut down operation.
From the question, the $3 price of Prince Puckler's Ice Cream is greater than its $2.50 average variable cost. This implies that Prince Puckler falls under Scenario 1 above. Therefore, Prince Puckler should continue operation despite that the $3 prie is lower than $3.10 average total cost. This is because the variable cost will be fully covered while a part of the fixed cost will also be covered but not fully. Doing this will minimize total cost for Prince Puckler.
Therefore, one knows from the information in the question that the firm the firm should continue operation.
Liz is the lead editor for a small city newspaper. One of her advertising sales representatives is pulling in a lot of restaurant clients. Liz realizes that the representative is quite knowledgeable about food and speaks quite elegantly when describing different dishes. She has begun discussing with the representative the possibility of collaborating with a writer to include a weekly restaurant review that includes the representative on the byline. After the first couple of reviews, the representative is able to increase ad sizes and sales. He is very happy with his new job diversification. Which aspect of creating a positive organizational culture is Liz utilizing?
Answer: emphasizing individual vitality and growth
Explanation:
The options to the question are:
A) rewarding more than punishing
B) building on organization strengths
C) emphasizing individual vitality and growth
D) creating loose management oversight
E) using narrow spans of control
From the question, we are informed that Liz is the lead editor for a small city newspaper and that one of her advertising sales representatives is pulling in a lot of restaurant clients.
We are further told that she has begun discussing with the representative the possibility of collaborating with a writer to include a weekly restaurant review that includes the representative on the byline and that after the first couple of reviews, the representative is able to increase ad sizes and sales and that he is very happy with his new job diversification.
The aspect of creating a positive organizational culture that Liz is utilizing is emphasizing individual vitality and growth.
If the exchange rate is 5 Egyptian pounds per U.S. dollar, a watch that costs $25 US dollars costs a. 125 Egyptian pounds b. 50 Egyptian pounds c. 5 Egyptian pounds d. None of the above is correct.
Answer:
A. 125 Egyptian pounds
Explanation:
Let’s create a proportion using the following setup.
pounds/dollars=pounds/dollars
We know that 5 Egyptian pounds is equal to 1 dollar.
5 pounds/ 1 dollar= pounds/dollars
We don’t know how many pounds are in 25 dollars. We can say x pounds are in 25 dollars.
5 pounds / 1 dollar = x pounds/ 25 dollars
5/1=x/25
We want to find out what x is, so we need to get x by itself.
x is being divided by 25. The inverse of division is multiplication. Multiply both sides of the equation by 25.
25*(5/1)=(x/25)*25
25*5/1=x
25*5=x
125=x
$25 US dollars are equal to 125 Egyptian pounds. Therefore, the watch will cost 125 Egyptian pounds and choice A is correct.
Question 4 Ivanhoe Company reports the following information (in millions) during a recent year: net sales, $10,794.0; net earnings, $359.8; total assets, ending, $4,970.0; and total assets, beginning, $4,025.0. (a) Calculate the (1) return on assets, (2) asset turnover, and (3) profit margin. (Round answers to 1
Answer:
ROA = 0.08 or 8%
Asset turnover = 2.4
Profit Margin = 0.033 OR 3.3%
Explanation:
All of the above requirements can be calculated as follows according to their formula
Working
Average asset = (Assets at beginning + assets at end )/ 2
Average assets = (4025 + 4970 )/ 2
Average assets = $4497.5
Requirement A. Return on assets
ROA = Net Income / Average assets
ROA = $359.8 / $4497.5(w)
ROA = 0.08 or 8%
Requirement 2 Asset turnover
Asset turnover = Net Sales / Average assets
Asset turnover = $10,794 / $4497.5
Asset turnover = 2.4
Requirement 3 Profit Margin
Profit margin = Net income / Net sales
Profit margin = $359.8/$10,794
Profit Margin = 0.033 OR 3.3%
H2 O'Yeah has designed a water purification device that is drastically different and far superior to any product currently on the market. Although consumer response was positive to the idea of the new product, management wants to find out more before committing to full-scale production. The next step H2 O'Yeah's marketing department is likely to take is to:
Options :
(A) locate a low cost production site.
(B) seek a joint venture with a large competitors.(C) Test market the product among potential users.
(D) develop an advertising campaign to pursuade consumers of the value of the new water purifier system.
Answer: (C) Test market the product among potential users.
Explanation: In other to ascertain the superiority and quality of the purification device, it is important to embark on a tentative phase whereby the product is tested among a pool of potential users or customers, get there feedbacks, analyze before deciding to embark on a full scale production. This phase is required in other not to get carried away by positive feedbacks received after the purchase of a superior equipment. The actual testing of the output or level of water purity obtained from using this equipment from the consumer's standpoint is absolutely vital.
If the distribution of the gains from growth matters, growth in median income is: Multiple Choice the same as growth in per capita income. a less informative measure of growth than growth in per capita income. a more informative measure of growth than growth in per capita income when the distribution of income is equitable. a more informative measure of growth than growth in per capita income when the gains from growth are concentrated on a small segment of the population.
Answer:
a more informative measure of growth than growth in per capita income when the gains from growth are concentrated on a small segment of the population.
Explanation:
Average earnings will look greater than even smaller parts of the community earn big, however, the average will give the appropriate impression on the ground because it is not biased with excessive ends.
Therefore in the case when there is benefit allocation arise from the growth in the median so it would lead to a concentration on the small population segment
Jamal Steel, a rapidly growing small steel company with annual revenues of $8 million, is looking to buy a large industrial furnace from Shinto Manufacturing, a Japan-based company. Rather than have a letter of credit binding the two parties, both agree on a draft. In international commerce, Shinto Manufacturing, the party initiating the draft, is known as the
Answer:
Maker
Explanation:
A maker is a person that initiates contracts.
In the case of the question above, the company who is initiating the draft is the maker.
etc.
Under a flexible exchange rate system a decline in the value of a currency relative to other currencies is a called a(n) _______ and under a fixed exchange rate system a decrease in the official value of a currency is called a(n) ________.
Answer:
Depreciation:devaluation.
Explanation:
Under a flexible exchange rate system a decline in the value of a currency relative to other currencies is a called a depreciation. This could be as a result of factors such as government monetary policies, varying interest rates, aversion of risks by investors, inflation etc.
On the other hand, under a fixed exchange rate system a decrease in the official value of a currency is called a devaluation. This is mainly due to the government monetary policy, so as to shore up the export of a country and to improve foreign trade.
Melissa Meadows is a marketing representative for Best Care which has recently introduced a Medicare Advantage plan offering comprehensive dental benefits for $15 per month. Best Care has not submitted any potential posts to CMS for approval. Melissa would like to use the power of social media to reach potential prospects. What advice would you give her?
Answer:
The best advice that I would give her if her contract agreement permit her to do so is to tell her to post a tweet on her social media account by stating that Best Care offers great and different array of Medicare Advantage benefit packages. One might be of benefit for you. You can call me to find out more either through my phone number , email or by sending me a message.
Explanation:
Based on the information given about Melissa Meadows who is a marketing representative for Best Care which has Medicare Advantage plan offering comprehensive dental benefits for tha amount $15 per month, in which we were told that she would like to use the power of social media to reach potential prospects which might be interested in the Medicare Advantage plan the best advice I would give her if her contract agreement permit her to do so is to tell her to post a tweet on her social media account by stating that Best Care offers great and different array of Medicare Advantage benefit packages. One might be of benefit for you. You can call me to find out more either through my phone number , email or by sending me a message.
The advice i would give her is : If permitted under the terms of her contract, Agent Meadows could post a tweet stating that "Best Care offers an array of Medicare Advantage benefit packages. One might be right for you. Call me to find out more!"
Terms of contract usually exist between an agent and his principal in a business relationship. This term protect all parties’ interests by detailing all deadlines and compensation.
Contents in terms of contract includes but not limited to :
Identity of the partiesDuties of the partiesRights of each partyIdentity of each partyTherefore, agent Meadows could post the tweet if permitted under the terms of her contract about Medicare advantage benefit packages.
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Moonglow Specialties, Inc., is currently trading at $20 per share. Recently, the company reported net income of $1 million. The company is capitalized with 200,000 common shares and $5 million of 20-year debentures with a coupon of 4%. Given the data, Moonglow's price-to-earnings (P/E) ratio is closest to
Answer:
P/E ratio = 4
Explanation:
the price to earnings ratio formula:
P/E ratio = stock's market price / earnings per share
earnings per share (EPS) = (net income - preferred dividends) / average outstanding shares
net income = $1,000,000
preferred dividends = $0
average outstanding shares = 200,000
EPS = $1,000,000 / 200,000 = $5
P/E ratio = $20 / $5 = 4
Price inflation:_______.
a. is relatively unimportant to individuals
b. is considered to be acceptable in the nation's quest for high levels of employment
c. courages investment by increasing the uncertainty about future returns
d. is almost always due to financing wars
Answer:
c. courages investment by increasing the uncertainty about future returns
Explanation:
Inflation refers to the increase in the price level of the goods
The price inflation reflects that there is a rise in the price of the goods and services over a particular period of time lets say for one year. It can arise when the raw material cost during the process of production increased that push the price in upward
It also increased the uncertainty with respect to the future returns through investment
Hence, the correct option is c.
A firm has a stock price of $68.00 per share. The firm's earnings are $85 million, and the firm has 20 million shares outstanding. The firm has an ROE of 11% and a plowback of 70%. What is the firm's PEG ratio
Answer:
2.1
Explanation:
A firm has a stock price of $68.00 pet share
The firm's earning are $85,000,000
The firm has $20,000,000 outstanding
They have an ROE of 11% and a Plow back ratio of 70%
The first step is to calculate the EPS
EPS= $85,000,000/$20,000,000
= $4.25
P/E= $68.00/$4.25
= 16
g= 11×70
= 770/100
= 7.7%
Therefore the PEG ratio can be calculated as follows
PEG ratio= 16/7.7
= 2.1
Hence the firm PEG ratio is 2.1
The PEG ratio that is the Price to Earnings Growth ratio is the ratio analytical tool that measures the expected growth in the earnings with the change in the share prices. It determines the valuation of stock amongst various other stocks.
The firms' PEG ratio is 2.1.
Computation:
Given,
Stock price =$68 per share
Total earning =$85,000,000
Outstanding balance =$20,000,000
ROE =11%
Plowback ratio =70%
[tex]\rm{PEG ratio}=\dfrac{\text{P/E}}{\text{Annual Growth rate}}\\\\=\dfrac{\$16}{7.70\%}\\\\=2.1[/tex]
Working Note:
Computation of EPS:
[tex]\rm{EPS}=\dfrac{Total \;Earning}{Outstanding\;Amount}\\\\=\dfrac{\$85,000,000}{\$20,000,000}\\\\=\$4.25[/tex]
Computation of P/E:
[tex]\rm{P/E}=\dfrac{Stock\;Price}{EPS}\\\\=\dfrac{\$68}{\$4.25}\\\\=\$16[/tex]
Computation of annual growth rate:
[tex]\rm{Annual growth rate}=ROE\;\times\;plowback\;period\\\\=11\%\;\times\;70\%\\\\=7.70\%[/tex]
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1. Prepare the journal entries for Star Inc. For the month of December: 12/2 Purchased $20,000 of merchandise from Tang Corp., terms 1/20, n/40; FOB shipping point 12/3 The appropriate party paid $150 for shipping costs related to the 12/2 transaction 12/6 Returned $2,000 of merchandise to Tang Corp for credit 12/10 Sold $500 of merchandise to R. Smith, terms 2/10, n/30; cost of merchandise was $120; FOB shipping point 12/11 The appropriate party paid $20 for shipping costs related to the 12/10 transaction 12/18 Received the balance due from R. Smith 12/21 Paid Tang Corp the balance du
Answer:
1.Purchases (Dr.) $20,000
Accounts Payable (Cr.) $20,000
2.Shipping cost (Dr.) $150
Cash (Cr.) $150
3.Purchase return (Dr.) $2,000
Purchases (Cr.) $2,000
4.Account Receivable (Dr.) $500
Sales (Cr.) $500
5.Freight expense (Dr.) $20
Cash (Cr.) $20
Explanation:
The journal entry at the time of purchase will be recorded as accounts payable for complete invoice amount and discount is not incorporated in the entry because it is not realized. The adjusting entry will be recorded when the discount is availed to adjust the transaction and reflect the discount effect in the book of accounts.
Phyllis bought a beach townhouse for $475,000 and put down $50,000 in earnest money. At closing, she paid $150,000, the balance of her intended down payment. The mortgage tax in the area is $.35 per $100 (or portion thereof). Calculate what Phyllis will pay for the mortgage tax.
Answer:
$962.50
Explanation:
Given the following :
Cost of beach townhouse = $475,000
Amount payed in earnest = $50,000
At closing = $150,000
Tax fee = $0.35 per $100
Total down-payment = $(50,000 + 150,000) = $200,000
Amount being taxed = $(475,000 - 200,000)
Amount being taxed = $275,000
Total tax paid :
($275,000 / $100) × $0.35
2750 * $0.35 = $962.50
= $962.50
A company paid dividends of $15,000, generated total sales of $845,000, and incurred total expenses of $792,000 in the current year. If ending retained earnings is $165,000, what was beginning retained earnings?
Answer:
The beginning retained earnings will be "127,000".
Explanation:
The given values are:
Total sales,
= $845,000
Company paid,
= $15,000
Total expenses,
= $792,000
Retained earning,
= $165,000
Now,
⇒ [tex]Retained \ earning \ this \ year = Profits-Dividends[/tex]
⇒ [tex]=845,000-792,000 -$15,000[/tex]
⇒ [tex]=38,000[/tex]
and,
⇒ [tex]Beginning \ retained \ earnings = Ending \ RE-this \ year \ RE[/tex]
⇒ [tex]=165,000-38,000[/tex]
⇒ [tex]=127,000[/tex]
Let’s say you’re looking to increase the visibility of your company blog. What, in addition to SEO tactics, could you do to make it easy for people to organically find your previously published posts?
Answer:
Addition of backlinks to your Blog
Explanation:
Addition of backlinks to your blog post is one way you can make it easy for people to organically find your previous published pages
Backlinks are links created and added to a webpage that links the website or webpage to another webpage or blog post. this links makes it easier for people navigating through a company's blog to find previously posted articles without having to search them all over again on the menu page.
Match each economic scenario with the correct economic term.
1. A country can produce more units of good B without reducing the units of good A it produces.
2. A country cannot produce more units of good A without producing fewer units of good B
3. A country wants to produce 10 units of good A and 12 units of good B but can produce only 5 units of good A and 4 units of good B.
a. efficiency
b. under utilization
c. unattainability
Answer:
The answer is:
1 - Underutilization
2 - Efficiency
3 - Unattainability
Explanation:
Efficiency in economics means a situation in which all resources are optimally distributed to serve each entity in the best way while minimizing waste and inefficiency.
Underutilization in economics is also a a situation in which lesser resources are being utilized than the economy is capable of utilizing.
Unattainability is a situation in which what one to accomplish or achieve is not possible.
1 - Underutilization
2 - Efficiency
3 - Unattainability
Beth is the assistant store manager at a trendy clothing store. The store hires lots of seasonal employees. Beth has little regard for the skill or ability of those she hires, and she is certain that few would come to work on time each day if it weren't for the fact that the store is known to fire any employee who fails to be on time. As a student of motivational theory, you would describe the management style of Beth as
Answer:
The correct answer will be "Theory X".
Explanation:
Through Theory X, alternatives to administration may range across a hard methodology to another soft one. The hard or challenging framework is focused on intimidation, overt threats, small compared oversight as well as tighter restrictions, which are control or perhaps management system.One such approach to management believes the average employee seems to have little motivation, lacks accountability, and therefore is structured to individual objectives.So you might well characterize Beth's leadership approach as Theory X as being a graduate of motivation factors.
Johnny LaRue sells men's jackets to men's clothing stores, including Melonville Man. Melonville Man orders a selection of men's jackets from LaRue's catalog, asking that LaRue select an assortment of goods for the buyer. LaRue takes advantage of this opportunity to get rid of the odd-sized jackets and those in pastel colors that are no longer popular. LaRue:
Answer:
violated the good faith requirement under sales contracts
Explanation:
In this scenario, it seems that LaRue violated the good faith requirement under sales contracts. In the context of business contracts, good faith refers to dealing honestly and fairly with one another in order for both parties to receive the benefits of the negotiated contract/agreement. In this scenario, LaRue did not do this. Instead, he used the opportunity to take advantage of Melonville Man by adding all the jackets that were unsellable into their purchased package.
A company is evaluating the use of insurance to mitigate its risk in the event of a market downturn. The company estimates that it has a total risk of 20% impact to its net income if a market downturn occurs, and the company currently has a net income of $150,000. At what cost should the company take out insurance to mitigate this risk?
Available Options are:
a. $25,000 premium
b. $100,000 premium
c. $150,000 premium
d. $200,000 premium or above
Answer:
Option A. $25,000 Premium
Explanation:
The risk of loosing 20% of the company net income would be = $150,000 * 20% = $30,000
Now this is the highest cost the company could bear to insure the 20% downturn in the market. The cost below $30,000 amount available in the option is $25,000 is the right option here.
Hence Option A is correct.
Measuring employment, unemployment, and labor force participation
Consider a small economy composed of six people: Dmitri, Frances, Jake, Latasha, Rosa, and Nick. Each person's employment status is described in the following table.
Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person's status as employed, unemployed, "not in the labor force" (if not in the civilian labor force but still part of the adult population), or "not in the adult population" if not in the civilian adult population.
Person
Dmitri is a 70-year-old professor. He teaches only one or two courses a year, but he's still pursuing an active research agenda.__________
Frances is a 26-year-old recent college graduate. She did not work for pay last week, but she had two job interviews.________
Jake is a 43-year-old accountant who has been out of work for almost a year. He became so discouraged that he gave up on his job search a couple of months ago.__________
Rosa is a 31-year-old science teacher who taught at West Valley Middle School last year. Due to budget cuts, she was laid off at the end of the school year. It's the summer now, and after a few weeks of vacation with her family, she is looking for a part-time job as a tutor.__________
Nick is a 20-year-old American Studies major at the University of Tennessee. It's summer now, and he is working as a lifeguard in Mobile, Alabama._________
Latasha is a 12-year-old student at West Valley Middle School. She babysits her younger sister and does other chores, so her parents give her an allowance of $30 per week._______
Answer and Explanation:
The classification is as follows
a. The Dmirti is considered to be employed as she is working part-time
b.France is considered to be unemployed as currently he hasn't had a job he is still looking for a job
c. Jake is not in the labor force as he is so discouraged and due to which he gave up for job search
d. Rosa is considered to be unemployed as currently she has not have any job and currently she is looking for a job
e. Nick is to be considered as an employed as he is currently working
f. Latasha is to be considered in not in the adult population as she is just 12 year old student
Pat starts a business called ValueCentral, the concept takes off, and the company has an IPO and goes public. The company is growing very rapidly and trying to keep up with customer demand. What type of dividend is this company likely to pay its stockholders
Answer:
Very small or no dividend
Explanation
Dividend is simply the distribution of profit made by company, firm e.t.c to its shareholders. Most startup company do pay little dividend due to the profit outcome but others do not. It is necessary to pay dividend to shareholders as it shows your devotion and commitment to look after and be in one mind with investors.
most companies that are just startups do not pay a dividend mostly during the early stage of growth. The revenue derived from startup is used to grow and develop the company and not to share with shareholders but sharing little is not bad a all.
When using the automatic mileage method, which of the following expenses, if any, also can be claimed? a.Interest on automobile loan. b.Parking. c.Engine tune-up. d.MACRS depreciation. e.None of these choices are correct.
Answer:
Option B......Parking
Flapjack Corporation had 7,824 actual direct labor hours at an actual rate of $12.03 per hour. Original production had been budgeted for 1,100 units, but only 978 units were actually produced. Labor standards were 7.1 hours per completed unit at a standard rate of $12.75 per hour. Round your answer to the nearest cent. The direct labor time variance is a.$5,625.46 unfavorable b.$5,625.46 favorable c.$11,222.55 unfavorable d.$11,222.55 favorable
Answer:
$11,220 Unfavorable
Explanation:
As we know that:
Labor Time Variance = Standard rate per hour * (Standard time for actual output - Actual time worked)
Here,
Standard rate per hour= 12.75$
Standard time for actual units = 978 units * 7.1 hour per unit = 6,944 Hours
Actual hours worked are 7,824 hours
By putting the above values, we have:
Labour time variance = $12.75 * (6,944 - 7,824) = $11,220 Unfavorable