Answer:
Direct Labor rate Variance $ 24840 Unfavorable
Labor Efficiency Variance $23520 favorable
Explanation:
Direct Labor rate Variance = Actual Hours * Actual Rate- Actual Hour * Standard Rate
Direct Labor rate Variance = 24840*15- 24840*14
= 372600- 347760
= $ 24840 Unfavorable
Labor Efficiency Variance = Actual Hours * Standard Rate- Standard Hour * Standard Rate
Labor Efficiency Variance = 24840*14- 4*6630*14
= 24840*14- 26520*14
= 347760 - 371280= $23520 favorable
Answer:
1. Curiosity. Great entrepreneurs are tasked with identifying new problems, identifying potential niche opportunities, refactoring their existing business processes, and innovating. This necessitates a passion for various fields of study and business cases that are outside of one's comfort zone.
2. Time management. Prioritization, milestone definition, execution, and iteration are all critical. None of this would be possible without the proper project management and time allocation methodologies in place to complete the work.
3. Strategic thinking. Learning to break down a problem to its simplest components and identify growth opportunities. Inventive problem-solving and spotting the low-hanging fruit. Defining an MVP's scope and testing concepts in a short amount of time and on a tight budget.
Answer:
So, accounting rate of return = 33 %
Explanation:
given data
net income after tax = $179,850
initial cost = $545,000
time = 7 year
salvage value = $34,000
we will get here the accounting rate of return
solution
as we know that accounting rate of return is express as
accounting rate of return = Net income ÷ initial investment .................1
put here value and we get
accounting rate of return = 
So, accounting rate of return = 33 %
Answer:
57.5%
Explanation:
Data Provided:
Total Sales = $ 200,000
The net income = $ 100,000
Depreciation = $ 20,000
Interest = $ 10,000
Taxes = $ 5,000
Now,
the operating profit is the from the income before the taxes and interest. Thus,
the interest and taxes will be included in the net income for the operating profit
therefore,
The operating profit = income + Interest + Taxes
or
The operating profit = $ 100,000 + $ 10,000 + $ 5,000 = $ 115,000
Now,
the operating profit margin = ( Operating profit / Sales ) × 100
or
= ( $ 115,000 / $200,000 ) × 100 = 57.5%
Answer:
$238,148
Explanation:
Total expenses:
= Inventory purchased + Salaries expense + Interest expenses + Insurance expense
= $85,000 + $15,000 + $3,300 + $3,900
= $107,200
Net income:
= Total revenue - Total expenses
= $300,000 - $107,200
= $192,800
Net income after tax:
= Net income - Taxes
= $192,800 - ($192,800 × 9%)
= $192,800 - $17,352
= $175,448
Cash balance:
= Net income after tax - Amount not collected on accounts receivable + Amount not paid on purchases - Prepaid insurance + Money invested by owners + Money borrowed
= $175,448 - $19,900 + $26,500 - $3,900 + $30,000 + $30,000
= $238,148
