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Morgarella [4.7K]
4 years ago
12

Golden Marine Stores Company manufactures special metallic materials and decorative fittings for luxury yachts that require high

ly skilled labor. Golden uses standard costs to prepare its flexible budget. For the first quarter of the​ year, direct materials and direct labor standards for one of their popular products were as​ follows: Direct​ materials: 3 pounds per​ unit; $3 per pound ​Labor: 4 hours per​ unit; $24 per hour During the first​ quarter, Golden produced​ 5,000 units of this product. At the end of the​ quarter, an examination of the direct materials records showed that the company used​ 14,500 pounds of direct materials and the direct materials cost variance was​ $3,840 U. Which of the following is a logical explanation for this​ variance?A. The company paid a higher cost for the direct materials than allowed by the standards B. The company paid a higher cost per hour for labor than allowed by the standards. C. The company used more labor hours than allowed by the standards. D. The company used a greater quantity of direct materials than allowed by the standards.
Business
1 answer:
drek231 [11]4 years ago
7 0

Answer:

A. The company paid a higher cost for the direct materials than allowed by the standards.

Explanation:

The following is a logical explanation for this variance:

Since, the standard quantity of raw materials to be used is 22 pounds x 500 units = 11000 pounds. The actual usage is 9500 pounds ony. Hence, variance in direct material price variance can be only due to higher cost of direct material purchased.

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Answer:

what the company wants to become, and its long-term direction and strategic intent

Explanation:

Vision statement is a long term road map of the direction a business needs to take in order to achieve its set goals and objectives. It usually undergoes little revision.

However the short term operational processes are constantly reviewed to make the business better align with long term goals as stated in the vision statement.

In this scenario where the vision statement of small businesses are being formulated the speakers will discuss what the company wants to become, and its long-term direction and strategic intent

8 0
4 years ago
Which of the following represents procurement as part of the support value activities in a value chain​ analysis?
ArbitrLikvidat [17]

Answer:

E. Purchasing inputs such as raw materials, resources, equipment and supplies

Explanation:

In business, <u>Procurement</u><u> </u>is the process of acquiring goods/services in order to support operational activities.

It includes all the aspects related to a purchase: price ( estimates, biddings ) , payment terms, good specifications, quality, delivery, volumes, etc.

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3 years ago
Why do organizations identify their opportunities and threats??​
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Answer:

So they know what do when they fight back or attack

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The key decisions and plans in corporate strategy address: What business are we in and how will we allocate resources among thes
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3 years ago
A company has a $20 million portfolio with a beta of 1.2. It would like to use futures contracts on a stock index to hedge its r
11111nata11111 [884]

Answer: 88.89 or 89

Explanation: Futures contract refers to a legal binding which obligates a buyer and seller to transact about a commodity, good, security or services at a predetermined price but goods are delivered or paid for in the future.

Given the following ;

Portfolio value(p) = $20million

Portfolio Beta (b) = 1.2

Index price (i) = 1080

Multiplier = 250

Future value(A) = index price × multiplier

Future value(A) = 1080 × 250 = 270000

Number of contracts (N) = (portfolio value × portfolio Beta) ÷ future value

N = ($20,000,000×1.2)÷270000

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N = 89 (NEAREST whole number)

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3 years ago
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