Answer:
This statement about finance is true.
Explanation:
Finance can be defined as the study of money management and activities related to it. It is concerned with allocation of assets and liabilities. It can categorized into three types, public, personal and corporate.
Studying finance is important for business students, irrespective of their majors as finance is crucial part of any business and plays a very vital role in the working of any organization. Finance lies at the core of the business decision making. It is thus necessary to understand the concept of finance.
Also, to all individuals, knowledge of finance is helpful as it is involved in our daily lives, in paying our bills and managing our taxes or in loans and mortgages.
Answer:
The optimal stocking level for the bakery is cakes 27.
Explanation:
Cost c = $ 7
Selling price p = $ 10
salvage value s = $ 5
Mean = 25
Standard deviation \sigma = 8
Cu = underage cost
= p-c
= $10 - $7
= $3
Co = overage cost
= c-s
= $7 - $5
= $2
P\leq C_{u}/(C_{u}+C_{o})
P\leq3/(3+2)
= 0.6
By using normsinv() function in excel we to find the correct critical value
The Z value for the probability 0.6 is 0.2533
The optimal stocking level is
=\mu +z\sigma
= 25 + 0.2533 *8
= 27.02
The optimal stocking level of bakery is 27.02
Therefore, The optimal stocking level for the bakery is cakes 27.
Based on the process that Lemony Lemonade uses to make lemonade, the equivalent units for conversion costs is 1,600 units.
<h3>What equivalent units are for conversion costs?</h3>
This can be found as:
= Number of units that are WIP x Percentage of completion
Solving gives:
= 3,200 x 50%
= 1,600 units
Find out more on equivalent units at brainly.com/question/16259709
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<span>Part of the lands' end business model includes purchasing products and then selling them again without any reprocessing. Lands' end is operating in the reseller market.
This company doesn't use the goods it has bought - it just sells it again to another company so as to get some profit.
</span>
Answer:
$10,125 Favorable
Actual quantity of the cost-allocation base used - Actual quantity of the cost-allocation base that should have been used to produce the actual output) × Budgeted variable overhead cost per unit of the cost-allocation base
Explanation:
Variable overhead spending variance = Actual Spending - budgeted Spending based on actual quantity
Variable overhead spending variance = (Actual Input x Actual rate) - ( Actual input x Budgeted rate)
Variable overhead spending variance = (10,125 x $29) - ( 10,125 x $30)
Variable overhead spending variance = $293,625 - $303,750
Variable overhead spending variance = $10,125 Favorable
Variable overhead spending variance is
Actual quantity of the cost-allocation base used - Actual quantity of the cost-allocation base that should have been used to produce the actual output) × Budgeted variable overhead cost per unit of the cost-allocation base
