Answer:
From this information one can conclude that last period the variable overhead efficiency (quantity) variance was <u>unfavorable.</u>
Explanation:
The variable overhead efficiency variance measures the difference between the actual and budgeted hours worked with respect to standard variable overhead rate per hour.
Variable overhead efficiency variance can be calculated thus:
Actual labor hours less budgeted labor hours x Hourly rate for standard variable overhead
If the time it takes to manufacture a product and the time budgeted for it matches or performs well, the labor efficiency is favorable.
Variable overhead efficiency variance is deemed unfavorable when it takes the company more time than budgeted to produce. This also shows labor efficiency variance was unfavorable.
Answer:
NPV = $20,040.35
Explanation
The net present value NPV) of a project is the present value of cash inflow less the present value of cash outflow of the project.
NPV = PV of cash inflow - PV of cash outflow
We can set out the cash flows of the project using the table below:
Annual net cash inflow = Savings - Technician cost = 61,427- 20,000
= $41,427
PV of Cash flow= $41,427 × (1-(1.12^(-5))/0.12= 149,335.06
PV of salvage value = 1.12^(-5)×$6,641 = 3768.281749
NPV = 149,335.06 + 3,768.281 -133,063= 20,040.35
Answer:
An employee has an average wage of $60,000 and has worked for the firm for 28 years. The defined benefit pension plan pays retirees 2.3% of the average wage times the years of service. The employee can expect to receive __$1,380_____ per year upon retirement.
Explanation:
a) Data and Calculations:
Average wage = $60,000
Number of years worked in the firm = 28 years
Defined benefit pension plan rate = 2.3%
Annual defined benefit pension plan = $1,380 ($60,000 * 2.3%)
Total benefit to be received = $38,640 ($1,380*28) or ($60,000 *28 * 2.3%).
b) This employee is expected to receive the total benefit of $38,640 for serving the firm for 28 long years under the defined pension plan, given the plan rate of 2.3% of the average wage.
The Canadian banking system is a conservative system that consists of five main categories. They are:
Chartered banks
Trust and loan companies
Cooperative credit movement
Life insurance companies
Securities dealers
For anyone considering a career in banking in Canada, this list of top banks in Canada is a helpful guide on where to start. To learn more, see our lists of financial institutions.
