The location to add notes depends on the context. In software like Microsoft Word, notes can be added under 'New Comment' in the 'Review' tab. Similarly, in a PowerPoint presentation, notes can be added in the 'Notes' pane, and in many email clients and physical notebooks or sticky-notes.
There are several places where you can add notes depending on the context. If you are using a computer software like Microsoft Word, notes can be added in the 'Review' tab under 'New Comment'. Similarly, in a PowerPoint presentation, you can add notes in the 'Notes' pane at the bottom of each slide.
In many email clients, you can also add notes to emails or contacts. In a physical context, notes can be added in notebooks or on sticky-notes. Thus, the specific location to add notes will depend largely on the platform or context in which you are working.
#SPJ2
Labor 1.5 hours @ $15.00 per hour
1. What was Glass Vessel’s flexible budget variance for materials in March? (As part of your answer, please indicate whether this variance was favorable or unfavorable.)
2. What was Glass Vessel’s labor efficiency/usage variance for March? (As part of your answer, indicate whether this variance was favorable or unfavorable.)
Must show work
Answer:
(i) -62.5 (Unfavorable)
(ii) -450 (Unfavorable).
Explanation:
(1) Material variance:
Material cost variance is the difference between standard cost for actual output produced and the actual cost of materials.
Material cost variance = (SQ × SP) – (AQ × AP)
Where SQ = Standard quantity for actual output, AQ = Actual quantity, SP = Standard Price and AP = Actual price.
This material cost variance can be subdivided into material price variance and material usage variance.
Material price variance = AQ × (SP – AP)
Material usage variance = SP (SQ - AQ)
In the problem, it is given that materials 2 pounds @ 1.25 per pound.
Therefore, SP = $1.25 and SQ per unit = 2 pounds.
It is given that Glass vessel produced 300 vases using 650 pounds of material.
Therefore, AQ = 650 pounds and actual output = 300 vases.
Therefore SQ for actual output:
= (SQ per unit) × (Actual output)
= (2 pounds) × (300 vases)
= 600 pounds.
It is given that Glass vessel purchased 650 pounds of material for $845.
Therefore Actual price = $845 ÷ 650 pounds
= $ 1.3
SP = $1.25 and AP = $1.3
SQ = 600 pounds and AQ = 650 pounds.
Material cost variance = (SQ × SP) – (AQ × AP)
Material price variance = AQ × (SP – AP)
Material usage variance = SP × (SQ-AQ)
Material cost variance (MCV):
= (600 × 1.25) – (650 × 1.3)
= -95 (Unfavorable)
Material price variance (MPV):
= 650 × (1.25 – 1.3)
= -32.5 (Unfavorable)
Material usage variance (MUV):
= 1.25 (600-650)
= -62.5 (Unfavorable)
Verification:
MCV = MPV + MUV
= (-32.5) + (-62.5)
= -95.
(2) Labor variances:
Labor cost variance is the difference between standard labor cost and the actual cost.
Labor cost variance = (SH × SR) – (AH × AR)
Where SH = Standard hours for actual output, AH = Actual hours, SR = Standard rate and AR = Actual rate.
Labor cost variance can be subdivided into Labor rate variance and Labor efficiency variance.
Labor rate variance = AH × (SR-AR)
Labor efficiency variance = SR × (SH – AH)
It is given that Labor 1.5 hours @ $15 per hour is the standard.
Therefore, SR = $15 and SH per unit = 1.5 hours.
SH for actual output = SH per unit × actual output
= 1.5 × 300
= 450 hours.
It is given that the actual total labor costs for March were $7200, which entailed 480 hours of labor.
Therefore, AH = 480 hours.
AR = Labor cost ÷ labor hours
= 7,200 ÷ 480
= $15.
SH = 450 hours, AH = 480 hours, SR = $15 and AR = $15.
Here, standard rate and actual rate are same. Therefore the labor rate variance is NIL. So the entire labor variance will come under labor efficiency variance.
Labor cost variance = (SH × SR) – (AH × AR)
Labor rate variance = AH × (SR-AR)
Labor efficiency variance = SR × (SH – AH)
Labor cost variance = (450 × 15) – (480 × 15)
= -450 (Unfavorable)
Labor rate variance = 480 × (15-15)
= 0
Labor efficiency variance = 15 × (450 - 480)
= -450 (Unfavorable).
Estimated machine-hours 8,400
Actual manufacturing overhead $ 352,960
Actual machine-hours 8,460
The estimates of the manufacturing overhead and of machine-hours were made at the beginning of the year for the purpose of computing the company's predetermined overhead rate for the year.
The applied manufacturing overhead for the year is closest to:_________.
A. $357,012
B. $354,474
C. $355,489
D. $352,951
Answer:
B. $354,474
Explanation:
The Overheads that are initially included in Work In Process before determination of Actual Overheads are called Applied Overheads.
Applied Overheads = Predetermined overhead rate × Actual level of Activity.
Thus said we need to first determine the Predetermined overhead rate :
Predetermined overhead rate = Budgeted Overheads / Budgeted Activity
= $ 351,960 / 8,400 machine hours
= $41.90 per machine hour
Therefore,
Applied Overheads = $41.90 × 8,460 machine hours
= $354,474
Conclusion :
The applied manufacturing overhead for the year is closest to: $354,474
Answer:
The definition is defined in the clarification section following, according to the particular circumstance.
Explanation:
Office design influences employees' social interaction, collaboration, and creativity. Encouraging a culture of collaboration and creativity benefits all organizations, fostering productivity, job satisfaction, and retention. Balancing collaborative and private spaces within the design is crucial.
Different types of office design significantly influence employee social interaction, collaboration, and creativity. For example, an open-plan office may encourage more spontaneous conversations and collaboration compared with a cubicle-based layout, which tends to isolate employees, limiting their social interactions. Conversely, a cubicle-based design might allow for more focused work free from disruptions.
Socializing employees through shared experiences can impact their opinions about various policies. Therefore, designing the workplace to facilitate social interaction may align employees' thinking, leading to more cohesive and cooperative attitudes.
Workplace socialization can occur both informally and formally. Informal socialization can be fostered through common areas where employees congregate, such as a shared kitchen or a communal lounge. Formal socialization can be established by implementing structured activities or meetings that encourage interactions between employees.
Encouraging a culture of collaboration and creativity should be a standard practice in all organizations, even those that don't initially seem innovative. A culture of collaboration can increase productivity, job satisfaction, and workplace retention. Organizations increasingly structure themselves to delegate work to teams, capitalizing on diverse skills, experience, and expertise.
However, it's essential to balance the need for collaboration with the need for focused, individual work. Using a variety of office design elements such as quiet zones, collaboration areas, and private spaces can help achieve this balance.
#SPJ11
"There are fewer close substitutes for the product your team supports" will improve your bargaining position with customers.
Option: B
Explanation:
Bargaining is the procedure which is preferred by citizens not only with street shops but it is famous internationally too, where defense, economic trade deal, etc are signed between two different nations to corporate and shake hand of unity. Bargaining is more effective when one allow seller to know that the party itself have more substitutes if the product is not provided by the seller in appropriate rate.
For an instance, if India need to buy some rolling defense helicopters for nation from Russia but prices are high and United States is providing same material with lower price or may be with better rewards on buying from them.
b. The product sold by one firm is a perfect substitute for the products sold by other firms in the same industry.
c. All the firms in the industry are the same size.
d. The product sold by one firm is a perfect complement for the products sold by other firms in the industry.
e. Firms in the industry can produce the same product with a different quantity of inputs.
Answer:
The correct answer is letter "B": The product sold by one firm is a perfect substitute for the products sold by other firms in the same industry.
Explanation:
Homogeneous products are those that cannot be differentiated one from another because they have similar features and satisfy the same need. They could even be sold at the same or nearly the same price. Under this scenario, these products are perfect substitutes from one another. Consumers will not be affected if one of the manufacturers decides to stop operations.