What do statistics show about most Americans’ financial management?

During a recent lengthy strike at Morell Manufacturing Company, management replaced striking assembly line workers with office w

Jobisdone [24]

Answer: D) Favorable Unfavorable

Explanation:

To begin, it is worthy of note that in Variance, if something is said to be Favourable, it means a negative Variance because less resources than planned were spent. When it is Unfavourable, it means a positive balance variance.

Now, The formula for Labour Rate Variance is as follows,

LABOUR RATE VARIANCE=(ACTUAL RATE-STANDARD RATE)*ACTUAL HOURS WORKED

Seeing as the old workers were being paid $18, and the new office ones were paid $10, we can see that to be the actual rate was less than the standard rate. This would mean that there was a FAVOURABLE balance.

Labour Efficiency is calculated in a similar way,

LABOUR EFFICIENCY VARIANCE=(ACTUAL HOURS WORKED-STANDARD HOURS)*STANDARD RATE.

Now, these are Office workers not assemblyline workers. They do not have the experience to work in such a way that they produce as fast or as efficiently as their striking Assemblyline colleagues.

This would then mean that their actual hours will be MORE than the standard rate which can only lead to an UNFAVOURABLE BALANCE.

3 0

3 years ago

Star Health, Inc. is a fitness center in Oklahoma City. In October, the company earned $550,000 in revenues and incurred the

Georgia [21]

Answer: $135.66

Explanation:

Given that,

Revenue earned in October = $550,000

Number of customers = 300

Operating costs:

Manager's Salary = $5,500

Gym Rent = 1,800

Depreciation Expense long dash Equipment = 7,000

Office Supplies Expense = 2,300

Utilities Expense = 1,600

Trainer's Salary = 22,500

Therefore,

Unit cost per customer = $\frac{Sum\ of\ all\ operating\ costs}{no.\ of\ customers}$

= $\frac{5,500+1,800+7,000+2,300+1,600+22,500}{300}$

= $135.66

7 0

3 years ago

DeWitt Industries has adopted the following production budget for the first 4 months of 2017. Month Units Month Units January 10

brilliants [131]

Answer:

DeWitt Industries

Materials Purchase Budget for the first quarter:

January February March

Ending inventory 1,648 1,038 824

Production

requirements 31,320 24,720 15,570

Beginning inventory 9,500 1,648 1,038

Purchases (pounds) 21,820 23,072 14,532

Explanation:

a) Data and Calculations:

Production Budget

Month Units

January 10,440

February 8,240

March 5,190

April 4,120

January February March April

Production Units 10,440 8,240 5,190 4,120

Production

requirements 31,320 24,720 15,570 12,360

Materials Purchase Budget

January February March April

Ending inventory 1,648 1,038 824

Production

requirements 31,320 24,720 15,570 12,360

Beginning inventory 9,500 1,648 1,038 824

Purchases (pounds) 21,820 23,072 14,532 11,536

4 0

3 years ago

A(n) _________ is a yearly published statement of the financial condition, progress and expectations of an organization. indepen

abruzzese [7]

Answer:

annual report

Explanation:

Annual report -

It is the comprehensive yearly report of the organisation or any company , is referred to as the annual report .

The annual report consists of all the financial records , progress rate , annual balance sheet etc , is all mentioned in the annual report .

This report helps the people of some other company , to get brief information about the company .

Hence , from the given information of the question,

The correct term is annual report .

7 0

3 years ago

Lake Company reported beginning and ending Total Assets of $25,000 and $35,000 respectively. The Net Sales for the year were $15

Leto [7]

Answer:

0.50

Explanation:

Calculation for What is the asset turnover ratio

Using this formula

Asset turnover ratio=Net sales /Average total assets

Let plug in the formula

Asset turnover ratio=$15,000 / (($25,000 + $35,000)/2)

Asset turnover ratio=$15,000/($60,000/2)

Asset turnover ratio=$15,000/$30,000

Asset turnover ratio= 0.50

Therefore the asset turnover ratio will be 0.50

7 0

3 years ago