Accounting Employees view budgeting more positively when goals are established for them by senior management.

Genent Industries, Inc. (GII), developed standard costs for direct material and direct labor. In 2017, GII estimated the foll

Andru [333]

Answer:

July's direct material flexible−budget variance is <u>$ 1500</u>.unfav

Explanation:

Genent Industries, Inc. (GII),

Budgeted quantity Budgeted price

Direct materials 0.3 pounds $20 per pound

Direct labor 0.7 hours $20 per hour

Actual Price for 15000 pounds and 2,875 DLH

Direct Materials $17 per pound

Direct manufacturing labor hours wages $20.50 per hour.

July's direct material flexible−budget variance is <u>$ 1500</u>. unfav

Budgeted Cost for 4000 containers -Actual Cost for 4000 containers

= $ 24000- $ 25500 = $ 1500

Since the actual cost is greater it is unfavorable

Flexible Budget Variance is obtained by subtracting actual costs from flexible budget costs at a given volume.

1 container requires 0.3 pounds

4000 containers require 0.3 * 4000= 1200 pounds

But actually 1500 pounds were used .

Now costs

Budgeted Costs for 1200 pounds is = 20 *1200= $24000

Actual Costs for 1500 pounds is = 17* 1500 = $ 25 500

8 0

3 years ago

Monty currently has a Visa card from his bank with the following terms: 18% on purchases, 24% on cash advances with a 4% cash ad

PilotLPTM [1.2K]

The annual percentage yield on Monty's default or penalty rate equals to 42.58%.

<h3>What is the meaning of APY?</h3>

APY is an acronym for Annual percentage yield.

The percentage yield referred to the real rate of return that is earned on an investment after taking into account the effect of compounding interest.

Given that the Visa card has an original default or penalty rate of 36%, the annual percentage yield on Monty's default or penalty rate equals to 42.58%.

Read more about annual percentage yield

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3 0

2 years ago

Lena works as an order-taker at fast burger, a fast-food restaurant. she does not cook food, or even package the final order, bu

gregori [183]

The fast burger is not an example of mechanistic organization, therefore, it is false. It is because a mechanistic organization should provide rules and tasks that are provided to each employee and the authority should be centralized—in the given scenario, the mechanistic organization is not seen above.

7 0

3 years ago

Read 2 more answers

Suppose that the firm pays its workers $46 per day. Each unit of output sells for $12. How many workers should the firm hire

Korolek [52]

Solution :

A firm hires labor till a point where the cost of hiring is equal to the value of the additional revenue it produces.

We know ,

the wage rate = cos of hiring an additional worker

the value of the additional revenue that the firm produces = price x (MPI) marginal product of the labor.

Therefore, the firm will hire when :

Wage = value of the additional revenue it generates

Thus, wage = price x (MPI) marginal product of the labor ...........(i)

Therefore, given :

wage of a worker = $ 45

Price = $ 12

So, 45 = 12 x MPI

MPI = 3.8

So the marginal product of employing three days of labor = 25-18/4-3 = 7

Marginal product of employing four days of labor = 30-25/4-3 = 5

So the 4th day produces less revenue than the cost that it generates.

So, the firm should hire 3 workers.

8 0

3 years ago

Which quality is a requirement in order for a destination to become a tourism destination area (TDA)?

valkas [14]

Should be accessible for road...,

7 0

4 years ago