Answer:
Results are below.
Explanation:
<u>To calculate the direct material price and quantity variance, we need to use the following formula:</u>
Direct material price variance= (standard price - actual price)*actual quantity
Direct material price variance= (9 - 8.64)*39,600
Direct material price variance= $14,256 favorable
Direct material quantity variance= (standard quantity - actual quantity)*standard price
Direct material quantity variance= (2,400*16 - 39,600)*9
Direct material quantity variance= -$10,800 unfavorable
Total variance= 14,256 - 10,800
Total variance= $3,456 favorable
Answer: (B) <em>Marketing Plan</em>
Explanation:
Under the given scenario a marketing plan is most likely to contain information regarding the given variables. A marketing plan is known as a document that outlines our strategy and tactics regarding our marketing. It often tends to focus on a specific time period and thereby covers several details related to marketing, such as goals, action steps and costs.
Answer:
The Contribution margin ratio (CRM) is 78.57%
Explanation:
CRM (Contribution margin ratio), it indicates the percentage (%) of each sales dollar available to cover the fixed assets as well as profits of the company.
The formula to compute the contribution margin ratio (CMR) is as:
CMR (contribution margin ratio) = (Sales - Variable expense) / Sales
where
Sales amounts to $56
Variable cost or expense amounts to $12
Putting the values above:
CRM (contribution margin ratio) =($56- $12) / $56
= $44 / $56
= 78.57%
