Answer:
The estimated rate based on labour hour==6
The actual rate based on labour hour=6.08
The rate based on machine hour=24
The rate based on machine hour= 22.66
Explanation:
Given that Carlson estimated its overhead costs to be $240,000,direct labor hours at 40,000 and machine hours at 10,000 as well as the actual overhead costs incurred of $249,280, actual direct labor hours of 41,000, and actual machine hours of 11,000.We can calculate the to apply .
The estimated rate based on labour hour=240000/40000=6
The actual rate based on labour hour=249280/41000=6.08
The rate based on machine hour=240000/10000=24
The rate based on machine hour=249280/11000=22.66
The question is reproduced in the table below for clarity
Oven Contribution
Hours Required Margin Per Unit
Muffins 0.2 $4
Coffee Cakes 0.3 $5
Answer:
Total contribution margin = $ 60,000.00
Explanation:
<em>When a business is faced with a problem of shortage of a resource which can be used to produced more than one product type, to maximize the use of the resource , the business should allocate it for production purpose in such a way that it maximizes the contribution per unit of the scare resource.</em>
Therefore Crane Company should alocate the oven hours to maximise the contribution per unit of oven hour. This is done as follows:
Step 1
<em>Calculate he contribution per oven hour and rank the product</em>
cont/hr ranking
Muffin $4/0.2 hour = 20 <em> 1st</em>
Coffee cakes $5/0.3 hour= 16.67 2nd
<em>Because Muffin generates the highest contribution per hour of Oven, Crane should allocate all the resource to it</em>
Step 2
<em>Calculate the Total contribution from the production of Muffin</em>
Total contribution margin = 20 per her × 3000
= $ 60,000.00
Answer:
c. the trade balance and the exchange rate.
Explanation:
An Open Economy is an economy that allows the free inflow and outflow of goods, services, capital and people. The opposite of a closed economy.
What sets these two models apart is that in an open economy, both imports and exports are allowed, so that countries necessarily have to trade in more than one currency, so the exchange rate must be examined. In addition, business transactions are recorded in a balance of payments. So these are the two concepts that are not tried in a closed economy analysis, but are introduced in an open economy.
Answer:
Recognition of priorities
Explanation:
Management involves planning, organizing, controlling, supervising, a group of people which could be an entire team, workers or some fractions of workers in an environment to achieve organizational goals. An entrepreneur which is among the factors of production is indeed someone who manages, supervise the other factors of production, keeping an environment in which people work and achieve the goals of production.
Management is a profession and as such skill set to recognizing when some aspects of management becomes important than others and when some goals need to be given more attention to achieving the overall organizational goals can describe as Recognition of priorities.
Recognition of priorities brings some other important aspects of management into focus leaving out the less important ones cancelled or put on hold so as to save time and maximize labor efficiency.
