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SVEN [57.7K]
3 years ago
8

Dreary Credit Agency processes credit applications. The labor standard at Dreary is $15 per hour, 8 hours per day (per employee)

. During the last pay period (10 business days), Dreary's 25 credit agents worked 1,920 hours and processed 2,500 applications. The total labor cost for the agents during this period was $29,184. What was Dreary's direct labor efficiency variance for this last pay period
Business
1 answer:
valentinak56 [21]3 years ago
3 0

Answer:

See below

Explanation:

Given the above, we will calculate first the standard hours allowed for actual work using the formula below

Standard hours allowed for actual work

= Total number of applications × Number of standard

= 2.500 × 8 hours × 10

= 2,000 hours

Therefore, the labor efficiency variance

= (Actual hours worked - Standard hours allowed for actual work) × Standard rate

= (1,920 - 2,000 ) × $15

= -$1,200

The labor efficiency variance is $1,200 favorable

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Answer:

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To calculate <em>simple interest rate</em>, the interest rate payment is divided by the loan amount.

Explanation:

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4 0
3 years ago
Financial statement data for years ending December 31, 2019 and 2018, for Edison Company follow: 2019 2018 Sales $513,500 $480,0
madam [21]

Answer:

The answer is

For 2018 - 1.5

For 2019 - 1.3

Explanation:

Asset turnover ratio=Net sales/average total assets

For 2018:

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Beginning asset - 360,000

Ending asset -360,000

Average total asset:

($280,000 + $360,000)/2

=$320,000

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$480,000/$320,000

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For 2019:

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Beginning asset - $360,000

Ending asset - $430,000

Average total asset:

($360,000 + $430,000)/2

=$395,000

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$513,500/$395,000

=1.3

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3 years ago
Wireless communications is likely to be viewed as an essential part of an enterprise network infrastructure when:
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3 years ago
Imagine that you are a consultant, and have been hired by Rosewell's board of directors to examine decision making within the fi
poizon [28]

Explanation:

Executive Information System (EIS) is a specialised form of decision making support system designed to give management level employees background information on topics both internal and external to the company. Using this information, they are then guided by the governance policies and standard operating procedures of the company in the decisions they need to make, considering environmental factors, availability of resources and time constraints. The Information Systems models contain routine and special statistical, financial, and other quantitative analysis.  

According to Computer Business Research, “the focus on Executive Information Systems is on easy to use user interfaces and graphical displays. The benefits of this is that they offer strong reports and drill down capabilities. Executive Information Systems are important because they help top-level executives analyze, compare and highlight trends in important areas so they can monitor performance and identify opportunities and problems. Over recent years however, the popularity of Executive Information Systems has decreased due to Business Intelligence, analytic(s), and digital dashboards.”

Steps followed in implementing EIS

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N.B: Questions are required to give a more precise answer

4 0
3 years ago
Additional information: The net cash provided by operating activities for 2017 was $190,800. The cash used for capital expenditu
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-- missing information--

Balance Sheet

December 31, 2017

Assets  

Current assets  

 Cash                                  60,100

 Debt investments          84,000

 Accounts receivable (net)       169,800

 Inventory                         145,000

  Total current assets        458,900

Plant assets (net)         575,300

Total assets                                            1,034,200

Liabilities and Stockholders’ Equity  

Current liabilities  

 Accounts payable          160,000

 Income taxes payable    35,500

  Total current liabilities          195,500

Bonds payable                  200,000

  Total liabilities                            395,500

Stockholders’ equity  

 Common stock                  350,000

 Retained earnings           288,700

 Total stockholders’ equity  638,700

Total liabilities and stockholders’ equity  $1,034,200

Income Statement

For the Year Ended December 31, 2017

Net sales   $2,218,500

Cost of goods sold   1,012,400

Selling and administrative expenses   906,000

Interest expense   78,000

Income tax expense   69,000

Net income   $ 153,100

Answer:

<u><em>  (i) Working capital.</em></u><em>    </em> $  263,400

 <u><em> (ii) Current ratio</em></u><em>                </em> 2.35

<u><em> (iii) Free cash flow</em></u><em>.         $  </em>98,800

<em><u>  (iv) Debt to assets ratio.</u></em><em>   38.2%</em>

<u><em> (v) Earnings per share. </em></u><em>     $ </em>3.062

Explanation:

<u><em>  (i) Working capital.</em></u>

Current Assets - Current Liabilities:

458,900 - 195,500 = 263,400

 <u><em> (ii) Current ratio</em></u>

Current Assets / Current Laibilities

  458,900 / 195,500 = 2.35

<u><em> (iii) Free cash flow. </em></u>

cash from operations less cash used for capital expenditures

190,800 - 92,000 = 98,800

<em><u>  (iv) Debt to assets ratio.</u></em>

 Liaiblities /    Assets

 395,500 /   1,034,200  = 0.382421195

<u><em> (v) Earnings per share.</em></u>

net income / average shares outstanding

$ 153,100 / 50,000 = 3.062

7 0
3 years ago
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