Answer:
B) $ 1,614
Explanation:
Given the information
Production= 3,350 units
Direct labor cost= $159,786
Direct labor hours= 13,450
=> rate per hour = $159,786 / 13,450 = $11.88
4 direct labor-hours for 1 unit
$12.00 per direct labor-hour
Budgeted production : 3,350 + 150 = 3500 units
=> The labor rate variance for the month was:
Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity
= ($12.00 - $11.88 )*13,450
= 1614
We choose B
Answer:
Net income for a merchandiser is computed as:
Net sales - cost of goods sold - other expenses.
Explanation:
Net sales are the sales revenue after deducting sales discounts and allowances. The cost of goods sold represent the beginning inventory of merchandise and current period's purchases less the ending inventory. The difference between the net sales and the cost of goods sold is called the gross profit. From this, other expenses incurred in running the business and generating sales are deducted, including income taxes to arrive at the net income.
Answer:
6
Explanation:
Marketplace simulations are designed for university business courses and for executive programs. It is developed by Innovative Learning Solutions Inc. The simulation enables students to experiment business strategies, test run their business ideas and get the consequences of their actions. This is gotten in a virtual business environment.
Answer:
B) -1.5
Explanation:
Cross-price elasticity of demand is calculated by dividing the percentage change in quantity demanded of good A by the percentage change in price of good B.
cross-price elasticity of demand = change in demand of flank steaks / change in price of gas grills = 15% / -10% = -1.5
Answer:
Strategic.
Explanation:
In Business management, a strategy can be defined as a set of guiding principles, actions and decisions that an organization combines so as to achieve its business goals, attract customers and possess a competitive advantage over its rivals in the industry.
Business strategy sets the overall direction for the business because it focuses on defining how a business would achieve its goals, objectives, and mission; as well as the funds and material resources required to implement or execute the business plan.
A manager can be defined as an individual who is saddled with the responsibility of providing guidance, support, supervision, administrative control, as well as acting as a role model or an example to the employees working in an organization by being morally upright.
A strategic manager is also referred to as a top-level manager and he or she is mainly focused on setting goals, objectives, and procedures in order to enhance the survival, growth, and overall effectiveness of a business firm.
Hence, Sylvia can concentrate on what she really want to do as a strategic manager, by focusing on the survival, growth, and overall effectiveness of our firm.
