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MAVERICK [17]
2 years ago
10

Longview Hospital performs blood tests in its laboratory. The following standards have been set for each blood test performed:

Business
1 answer:
Julli [10]2 years ago
8 0

Answer:

Instructions are below.

Explanation:

Giving the following information:

Standard:

Direct materials 2.0 plates $2.75 per plate

Direct labor 0.2 hours $15.00 per hour

Variable manufacturing overhead 0.2 hours $7.00 per hour

Actual:

1,500 blood tests.

3,600 plates were purchased for $9,540

3,200 plates were used for blood tests

340 actual direct labor-hours were worked for $5,550

1)The materials price variance:

Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= (2.75 - 2.65)*3,600= $360 favorable

2) The materials quantity variance:

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Direct material quantity variance= (2*1,500 - 3,200)*2.75

Direct material quantity variance= $550 unfavorable

3) The labor rate variance:

Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity

Direct labor rate variance= (15 - 16.32)*340= $448.8 unfavorable

4) The labor efficiency variance:

Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate

Direct labor time (efficiency) variance= (1,500*0.2 - 340)*15

Direct labor time (efficiency) variance= $600 unfavorable

5) The variable overhead efficiency variance:

Variable overhead efficiency variance= (Standard Quantity - Actual Quantity)*Standard rate

Variable overhead efficiency variance= (1,500*0.2 - 340)*7

Variable overhead efficiency variance= $280 unfavorable

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a_sh-v [17]

The annual premium for Zack's house would be <u>cheaper</u> through <em>AAA </em>than <em>Thompson’s Insurance. </em>

<h3>How to calculate the annual premium of two companies? </h3>

AAA company is offering $0.36 per $100 of value.

Thompson company is offering $3.63 per $1,000 of value;

\frac{3. 63 }{1000} \\=\frac{0.363}{100}

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4 0
2 years ago
Your firm has a credit rating of A. You notice that the credit spread for​ five-year maturity A debt is 85 basis points (0.85 %
Hunter-Best [27]

Answer:

$1,172.97

Explanation:

We use the Present value formula i.e to be shown in the attached spreadsheet. Kindly find it below:

Given that,  

Assuming figure Future value = $1,000

Rate of interest = 1.9% + 0.85% = 2.75%

NPER = 5 years

PMT = $1,000 × 6.5% = $65

The formula is shown below:

= -PV(Rate;NPER;PMT;FV;type)

So, after solving this, the price of the bond is $1,172.97

7 0
2 years ago
What is the top reason managers fail in their role? a. Poor planning practices/reactionary behavior b. Ineffective communication
Nina [5.8K]

b. Ineffective communication skills and practices

Explanation:

The top reason managers fail in their role is due to ineffective communication skills and practices.

  • Effective communication help in high performance
  • Poor communication skills affect workplace causes business failures
  • Ineffective communication skills result in low morale and unhealthy work culture
  • Increases employee attrition rates
6 0
3 years ago
Who is responsible for selecting the required yearly ce topics
Vilka [71]

Based on standard practice <u>State Real Estate Commission</u> is responsible for selecting the required yearly CE topics.

What is CE in Real Estate?

CE in Real Estate is a term that is used to describe the Continue Education that must be participated by the agents and brokers to retain and maintain real estate license.

To maintain the required yearly CE topics, the State Real Estate Commission set the standard, including the requirements, duration, and due dates.

Hence, in this case, it is concluded that the correct answer is "State Real Estate Commission."

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3 0
2 years ago
The adjusted trial balance for China Tea Company at December 31, 2021, is presented below: Accounts Debit Credit Cash $ 16,000 A
ANTONII [103]

Answer:

China Tea Company

<u>Classified Balance Sheet as at December 31, 2021</u>

ASSETS

<u>Non Current Assets</u>

Equipment                                                               $330,000

Accumulated depreciation                                    ($127,000)

Total Non - Current Assets                                    $203,000

<u>Current Assets</u>

Prepaid rent                                                                $7,000

Supplies                                                                    $27,000

Accounts receivable                                               $158,000

Cash                                                                          $ 16,000

Total Current Assets                                              $208,000

TOTAL ASSETS                                                        $411,000

EQUITY AND LIABILITIES

EQUITY

Common stock                                                      $180,000

Retained Earnings                                                 $361,700

TOTAL EQUITY                                                      $541,700

LIABILITIES

<u>Non Current Liabilities</u>

Notes payable (due in two years)                         $30,000

Total Non - Current Liabilities                               $30,000

<u>Current Liabilities</u>

Accounts payable                                                  $19,000

Salaries payable                                                      $3,800

Interest payable                                                       $1,500

Total Current Liabilities                                         $24,300

TOTAL LIABILITIES                                               $54,300

TOTAL EQUITY AND LIABILITIES                      $596,000

Explanation:

A Balance Sheet show the Assets, Liabilities and Equity Balances as at the Reporting date

Retained Earnings Balance = Opening Balance + Profit for the year - Dividends.

where,

Profit for the Year = Sales - Expenses

                              = $470,000 - ($78,000 + $18,000 + $33,000 + $2,000 + $42,000)

                              = $297,000

therefore,

Retained Earnings Balance = $94,700 + $297,000  - 30,000 = $361,700

8 0
2 years ago
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