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2 years ago

How many formal and informal forecasting methods do you have at work or at home?

Business

1 answer:

svetoff [14.1K]2 years ago

4 0

Answer:

There are several statistical forecasting methods.

Some of them are:

Linear Regression
Multiple Linear Regression
Productivity Ratios
Time Series Analysis
Stochastic Analysis
Straight Line and
Moving Average

Cheers!

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Community Manufacturing Inc. developed the following standard costs for direct material and direct labor for one of their major

hammer [34]

Answer:

Particulars Standard Actual

Qty Rate Amount Qty Rate Amount

Materials 2,000 26 52,000 2,200 24 52,800

Labor 1,000 14 14,000 1,050 14.75 15,487.50

Actual output 10,000.00

Materials required (10000*0.20) = 2,000.00

Labor hrs required (10000*0.1) = 1,000.00

1. May's direct material price variance

= (SP-AP)*AQ

= (26 - 24*)2200

= 4,400 F

2. May's direct material quantity variance

= (SQ-AQ)*SP

= (2,000 - 2,200)*26

= 5,200 U

3. May's direct labor cost variance

= Standard Cost - Actual Cost

= 14,000 - 15,487.50

= 1,487.50 U

4. May's direct labor rate variance

= (SR-AR)*AH

= (14 - 14.75)*1,050

= 787.50 U

5. May's direct labor efficiency variance

= (SH-AH)*SR

= (1,000 - 1,050)*14

= 700 U

6 0

2 years ago

Will, who is single and age 50, is employed as a full-time tax accountant at a local manufacturing company where he earns $83,00

fenix001 [56]

Answer: The options available to Will include; the Keogh plan, the SIMPLE IRA and the ROTH plan.

Explanation: The Keogh plan is a tax- deferred benefit plan available to self employed individuals or unincorporations.

A Savings Incentive Match Plan for Employees Individual Retirement Account, "SIMPLE IRA" is a tax-deferred retirement plan provided by the employer that allows employees to set aside money and invest it to grow for retirement.

A Roth IRA is an individual retirement account that is generally not taxed upon distribution, provided certain conditions are met.

5 0

2 years ago

Which of the following are necessary for production to take place?

zubka84 [21]

The answer i your question is B I believe

8 0

3 years ago

In a purely competitive market, a firm finds that at its MR=MC output level the Total Variable Cost (TVC) equals $550, Total Fix

sergey [27]

Answer:

The correct option is B

Explanation:

A pure competition is describes as a market which has a wider range of competitors, those are selling the same kind of products.

A purely competitive market involves or comprise of the large or huge numbers of the firms who are making the standardized product, the market prices are determined by the demand of consumer.

In this case, MR is equal to MC, TVC is $550, Total revenue is $250 and TFC is $250. So, the firm have a scope for producing as it could still cover the total cost.

6 0

3 years ago

As a manager, Colin realizes that there is no single formula for making easy decisions. In reality, business decisions he has to

alexira [117]

Answer: Nonrational

Explanation: The nonrational model of decision making comes in the aspects of deciding on and pursuing a method of action that will satisfy the minimum requirements to achieve a particular goal, increments, and understanding without deliberate thinking that are administrative and realistic in the decision-making process.

However, with nonrational decision-making involving uncertainty and lack of available information to carry out a reasonable decision, there is a possibility of adverse results with the decision made and the likelihood of an effect tending to cause harm to the organization respectively. Also, this model of decision making is expensive and time-consuming altogether.

3 0

3 years ago