Answer:
Screening and evaluation
Explanation:
The seven steps in the new product development process are:
- New-product strategy development
- Idea Generation
- Screening and evaluation
: at this stage, ideas are filtered and funneled and you must separate only those truly worth pursuing.
- Business analysis
- Technical Development
- Market Testing
- Commercialization
Answer:
1. The fixed portion of the predetermined overhead rate for the year is $10,000 per direct labor hour.
2. The fixed overhead budget variance is $4,000 unfavourable and the fixed overhead volume variance is $10,000 favourable.
Explanation:
In order to calculate the the fixed portion of the predetermined overhead rate for the year we would have to use the following formula:
predetermined overhead rate for the year=<u>Total fixed overhead cost year</u>
Budgeted direct labor-hours
=$ 250,000/25,000
=$10,000
1. The fixed portion of the predetermined overhead rate for the year is $10,000 per direct labor hour.
In order to calculate the fixed overhead budget variance, we use the following formula:
2. fixed overhead budget variance=Actual fixed overhead cost for the year- budgeted fixed overhead cost for the year
=$ 254,000-$ 250,000
=$4,000 unfavourable
In order to calculate the fixed overhead volume variance, we use the following formula:
fixed overhead volume variance=budgeted fixed overhead cost for the year-fixed overhead appliead to work in process
=$ 250,000-(26,000×10)
=$10,000 favourable
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Marginal revenue is the ratio that is calculated in order to account for the change in overall income that results from selling one additional unit. This term is usually considered a microeconomic term but has many managerial accounting applications.
The formula to be used is,
Marginal revenue = (change in total revenues)/(change in quantity sold)
Revenue for 2 units sold: R = (2 units)($8.50/unit) = $17
Revenue for 3 units sold: R = (3 units)($8.00/unit) = $24
Change in Total Revenue = $24 - $17 = $7
Marginal Revenue = ($7) / (3 - 2) = $7/1
<em>ANSWER: Marginal Revenue: $7/unit</em>