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2 years ago

A financial plan is most influenced by what

Business

1 answer:

Natasha_Volkova [10]2 years ago

5 0

A financial plan is more influenced by economic factors, values, goals and the current scenario.

<h3 /><h3>What is a financial plan?</h3>

It corresponds to a personal or organizational strategy to achieve financial goals through planning for the use of financial resources. Factors that influence financial planning are mastery of finance, social well-being, financial inclusion and financial literacy.

Therefore, financial planning is impacted by environmental and personal circumstances that will affect resource allocation needs to achieve goals and objectives.

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Samson Company reported total manufacturing costs of $320,000, manufacturing overhead totaling $52,000, and direct materials use

Artemon [7]

Answer:

$204,000

Explanation:

Given that

Total manufacturing costs = $320,000

Manufacturing overhead = $52,000

Direct materials = $64,000

The computation of direct labor cost is shown below:-

Direct labor cost = Total manufacturing costs + Manufacturing overhead + direct materials

= $320,000 - $52,000 - $64,000

= $204,000

Therefore for computing the direct labor cost we simply applied the above formula.

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3 years ago

What is the net loss

RUDIKE [14]

Net loss is when expenses exceed the income or total revenue produced for a given period of time

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3 years ago

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Suppose that in a year an American worker can produce 100 shirts or 20 computers and a Chinese worker can produce 100 shirts or

Alexeev081 [22]

A ....................

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4 years ago

Esquire Company needs to acquire a molding machine to be used in its manufacturing process. Two types of machines that would be

NARA [144]

Answer:

Esquire should purchase Machine B

Explanation:

Below is the calculation of the present values of Machine A & Machine B.

Machine A Period Amount Present Value Factor Present Value

Purchase Cost 0 ($69,000) 1 ($69,000)

Maintenance Cost 1 - 10 ($2,200) 6.71008 ($14,762)

Salvage Value 10 $7,245 0.46319 $3,356

Present Value of A ($80,406)

Machine B Period Amount Present Value Factor Present Value

Purchase Cost 0 ($57,500) 1 ($57,500)

Maintenance Cost

Year 3 3 ($8,800) 0.79383 ($6,986)

Year 6 6 ($11,000) 0.63017 ($6.932)

Year 8 8 ($13,200) 0.54027 ($7,132)

Present Value of B ($78,550)

<u>Note the Following:</u>

The Net Present Value of B is lower than the Value of Machine A. So, Machine B should be opted.
For the Present Value Factor of Machine A's Maintenance Cost, the 10 year annuity value of 8% was calculated.
Machine B has no salvage value after the 10th year period.

4 0

3 years ago

Marvel Parts, Inc., manufactures auto accessories. One of the company's products is a set of seat covers that can be adjusted to

mart [117]

Answer:

See the explanation below.

Explanation:

Given the following information:

The standard costs associated with this level of production are:

Total Per Set of Covers

Direct materials $54,825 $25.50

Direct labor $10,750 5.00

Variable man o/h (based on direct labor-hrs) $5,375 <u> 2.50 </u>

The following actual costs were recorded during the month:

Total Per Set of Covers

Direct materials (12,500 yards) $58,750 $23.50

Direct labor $31,000 5.20

Variable manufacturing overhead $7,000 <u> 2.80 </u>

1. Compute the materials price and quantity variances for August.

Actual unit of production = 2,500 units

Actual material price per yard = $58,750 / 12,500 = $4.70

Total standard quantity required = 2,500 * 3 = $7,500

Material required to produce 1 unit of cover is 3 yards

Standard price per yard = $25.50 / 3 = $8.50 yard

Therefore, we have:

Material price variance = (Actual price per yard - Standard price per yard) * Actual yards = ($4.70 - $8.50) * 12,500 = - $47,500 favorable

Material quantity variance = (Actual quantity - Standard quantity) * Standard price per yard = (12,500 - 7,500) * $8.50 = $42,500 adverse

2. Compute the labor rate and efficiency variances for August.

Actual direct labor hours = 800 hours

Actual price per direct labor hour = $31,000 / 800 = $38.75

Standard direct labor cost per hour = $10,750 / 1,075 = $10

Standard labor hours used = 2,500 * 0.50 = 1,250 hours

Labor price variance = (Actual price per labor hour - Standard price per labor hour) * actual labor hours = ($38.75 - $10.00) * 800 = $23,000 adverse

Labor quantity variance = (actual labor hours - standard labor hours) * Standard price per labor hour = (800 - 1,250) * $10 = $4,500 favorable.

3. Compute the variable overhead rate and efficiency variances for August.

Budgeted variable manufacturing overhead cost = $5.00 per labor hour

Actual labor hours = 800 hours

Standard labor hours = 2,500 * 0.50 = 1,250 hours

Actual variable manufacturing costs = $7,000 / 800 = $8.75 per labor hour

Variable overhead Rate variance = actual labor hours * (actual variable overhead rate per DLH x budgeted variable overhead rate per DLH) = 800 * ($8.75 * $5.00) = $3,000 adverse

Variable overhead efficiency variance = budgeted variable overhead rate per DLH * (Actual labor hours - budgeted labor hours required) = $5.00 * (800 - 1,250) = - $2,250 favorable.

5 0

3 years ago