Answer:
Std rate per hour: 11.00
Std hours = 1000*2 =2000
Actual hours = 1850
Actual rate = 11.80
Labor cost variance = Std cost - Actual cost
Labor cost variance = (2000*11) - (1850*11.80)
Labor cost variance = 170 Unfavorable
Labor rate variance = Actual hrs (Std rate - Actual rate)
Labor rate variance = 1850 *(11-11.80)
Labor rate variance = 1480 Unfavorable
Labor qty variance = Std rate (Std hrs-Actual hrs)
Labor qty variance = 11 (2000-1850)
Labor qty variance = 1650 Favorable.
Answer:
During Year 4, Tara wrote off $7,000 in receivables and recovered $4,000 that had been written off in prior years. Tara's December 31, Year 3, allowance for uncollectible accounts was $22,000. Under the aging method, what amount of allowance for uncollectible accounts should Tara report on December 31, Year 4?
$19,000.
Explanation:
Wrote off $7,000
recover $4,000
uncollected money stands at= 7,000-4,000= $3,000 in year 4
total uncollected money in year 3 is $22,000
then will be 22,000-3,000= $19,000
Answer:
We will be able to purchase fewer goods and services.
Explanation:
Appreciation of a currency in terms of another currency implies an increase in the worth of a currency in terms of another currency.
An appreciation in the value of peso in terms of dollars means that the worth of peso has increased in terms of dollar.
In other words, the worth of dollar in terms of peso has decreased. The value of $1,000 will decline.
So, a tourist in Mexico with $1,000 will be able to buy fewer goods an services.
Answer: Please refer to Explanation
Explanation:
Advise I would give.
1. The process for the collection of cash should be changed to bring in revenue faster. This can be done in a variety of ways,.
- By including in the terms of the contract that the service has to be paid for within a certain period such as a maximum of 4 weeks and then follow up each week on the customer so that they remember that they have a due bill.
- Giving payment based discounts such as a 5% discount if the service is paid for within a fortnight.
- Telling the customer to pay first, if not the full amount, at least a down payment with the total being settled at a later date.
These are but just some ways of getting the money faster but the bottomline is that payment needs to be received faster because the nurses are paid on a weekly basis.
2. Focus more on Patients with Insurance.
The company has a very low clientele base that use insurance and they should aim to increase that figure. This is because Insurance pays out timely and IHHPC will be sure that their payment will come because an Insurance company is bound by certain rules and regulations. For security of payments therefore, they should increase their insurance based clientele.
