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Salsk061 [2.6K]
3 years ago
9

Calculating Standard Quantities for Actual Production Guillermo's Oil and Lube Company is a service company that offers oil chan

ges and lubrication for automobiles and light trucks. On average, Guillermo has found that a typical oil change takes 27 minutes and 6.4 quarts of oil are used. In June, Guillermo's Oil and Lube had 960 oil changes. Required: 1. Calculate the number of quarts of oil that should have been used (SQ) for 960 oil changes. 6,144 quarts 2. Calculate the hours of direct labor that should have been used (SH) for 960 oil changes. direct labor hours 3. What if there had been 950 oil changes in June
Business
1 answer:
vova2212 [387]3 years ago
5 0

Answer:

Number of quarts for 960 oil changes= 6,144 quarts

No of hours for 960 oil changes = 432 hours

Number of quarts for 950 oil changes=6,080 quarts

No of hours  for 950 oil changes= 427.5 hours

Explanation:

Guillermo's Oil and Lube Company

1.Number of quarts for 1 oil change = 6.4 quarts of oil

Number of quarts for 960 oil changes= 6.4 quarts of oil *960= 6,144 quarts

2. Number of minutes for 1 oil change = 27 minutes

Number of minutes for 960 oil changes = 27 minutes*960= 25920 minutes

No of hours for 960 oil changes = 25920/60= 432 hours

3.Number of quarts for 1 oil change = 6.4 quarts of oil

Number of quarts for 950 oil changes= 6.4 quarts of oil *950= 6,080 quarts

Number of minutes for 1 oil change = 27 minutes

Number of minutes for 950 oil changes = 27 minutes*950= 25650 minutes

No of hours  for 950 oil changes= 25650/60= 427.5 hours

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ohaa [14]

Answer:

a. $80,318.70

b. $97,568.57

Explanation:

Here is the full question :

You have just received a windfall from an investment you made in a​ friend's business. She will be paying you $ 15 comma 555 at the end of this​ year, $ 31 comma 110 at the end of next​ year, and $ 46 comma 665 at the end of the year after that​ (three years from​ today). The interest rate is 6.7 % per year. a. What is the present value of your​ windfall? b. What is the future value of your windfall in three years​ (on the date of the last​ payment)?

Present value is the sum of discounted cash flows

Present value can be calculated using a financial calculator

Cash flow in year 1 = $ 15,555

Cash flow in year 2 = $31,110

Cash flow in year 3 =  $ 46,665

I = 6.7%

Present value = $80,318.70

The formula for calculating future value:

FV = P (1 + r)^n

FV = Future value  

P = Present value  

R = interest rate  

N = number of years  

$80,318.70(1.067)^3 = $97,568.57

3 0
3 years ago
A variant of fiscal-year budgeting whereby a 12-month projection into the future is maintained at all times is termed _____ budg
katrin [286]

A variant of fiscal-year budgeting whereby a 12-month projection into the future is maintained at all times is termed Continuous budgeting.

<h3>What is Continuous Budgeting?</h3>
  • Budgets are created for future periods, revised throughout current periods, and adjusted at the conclusion of the term. This process is known as continuous budgeting.
  • In other words, it's the practice of maintaining active, current, and future budgets to monitor costs and project growth in the future.
  • The majority of businesses create their budgets on a monthly, quarterly, or annual basis, however many businesses now create weekly budgets to monitor sales and shipments.
  • In the current era, these plans are utilized to establish financial and performance goals and benchmarks for the future.
  • Following the conclusion of the current period, the budgeting process is restarted by developing a new plan for the following accounting period.

To learn more about Continuous Budgeting refer to:

brainly.com/question/14300218

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6 0
2 years ago
Which of the following reasons can make a diversification strategy an unwise course of action for a company to pursue? Group of
Alex777 [14]

Answer:

Diversification for pooling risks

Explanation:

When a company wants to diversify it goes into various products in order to reach a larger market. This is the opposite of specialisation where the company focuses on one market or product.

When a company wants to diversify it will not be a good idea to do it because they want to pool risk.

Pooling of risk involves centralisation of process so that risk due to variability will be reduced.

Diversifying will increase risk due to variability.

8 0
3 years ago
Which factor caused a higher oil prices to directly lead to inflation?
defon
The government began to print more money. The increase in the ‘money supply’ which happens faster than the economic growth leads to inflation. When the government prints more money then it brings down the value of the money in the market.
7 0
3 years ago
Alliance Company budgets production of 35,000 units in January and 39,000 units in the February. Each finished unit requires 4 p
harkovskaia [24]

Answer:

$506,800

Explanation:

The calculation of budgeted materials cost is shown below:-

For computing the budgeted materials cost first we need to find out the total materials for production and materials to be purchased which is here below:-

Total materials for production = Budgeted production × Pounds of raw material per unit

= 35,000 × 4

= 140,000

Materials to be purchased = Total materials for production + Ending raw materials inventory - January 1 inventory

= 140,000 + (39,000 × 4 × 30%) - 42,000

= 140,000 + 46,800 - 42,000

= 186,800 - 42,000

= 144,800

Budgeted materials cost for January = Materials to be purchased × Cost per pound

= 144,800 × $3.50

= $506,800

6 0
3 years ago
Read 2 more answers
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