Swifty Inc. has three divisions which are operated as profit centers. Actual operating data for the divisions listed alphabetically are as follows. Compute the missing amounts. Operating Data Women’s Shoes Men’s Shoes Children’s Shoes Contribution margin $304,020 $ (3) $202,680 Controllable fixed costs 112,600 (4) (5) Controllable margin (1) 101,340 106,970 Sales 675,600 506,700 (6) Variable costs (2) 360,320 281,500 Prepare a responsibility report for the Women’s Shoes Division assuming (1) the data are for the month ended June 30, 2020, and (2) all data equal budget except variable costs which are $5,630 over budget. SWIFTY INC. Women’s Shoe Division Responsibility Report For the Month Ended June 30, 2020 Difference Budget Actual Favorable Unfavorable Neither Favorable nor Unfavorable $ $ $ $ $ $

Answer:

Feedback

Explanation:

In an effective goal program, feedback is very important and essential. The goals should be open for feedback. If the goals are specific, consistent but lack feedback, then it is no longer effective.

Feedback is important in order to evaluate how effective the goal is. So, in the above, feedback is what is missing.

Answer:

d. Producers, who earn a higher price on the sale of each unit and also sell more units, thereby unambiguously earning higher revenues

Explanation:

A government price support program is when the government impose a price limit on a product to control the price of the product i.e price floor, and also the purchase of any surplus. The price floor and the purchase of any surplus for the product encourages the producers to produce more of the product.

Since price floor must be higher than the equilibrium price for it to be effective, the producers of the agricultural product earn more by selling in units and also earn more for selling any surplus to the government.

Answer:

D) machines and factories; knowledge one picks up through education and training

Explanation:

The physical capital is the capital that has the physical existence i.e. tangible. It could be seen, feel, or even touched. examples like plant, machinery etc

While on the other hand the human capital is intangible it only effects the production and the operations

Like - skills, knowledge, experience of a worker

Therefore the option D is correct

Answer:

$9,911 Unfavorable

Explanation:

Calculation for What is the variable overhead rate variance for the month

First step is to calculate the Standard labor hours Using this formula

Standard labor hours = Actual output x Standard hours per unit of output

Let plug in the formula

Standard labor hours= 1500 x 5.30

Standard labor hours= 7,950

Now let calculate the Variable overhead efficiency variance using this formula

Variable overhead efficiency variance = Actual labor hours - Standard labor hours) x hourly rate for standard variable overhead

Let plug in the formula

Variable overhead efficiency variance= ( 8,800-7,950) x 11.66

Variable overhead efficiency variance=850×11.66

Variable overhead efficiency variance= $9,911 Unfavorable

Therefore the variable overhead rate variance for the month is $9,911 Unfavorable

Answer:

the income is $1,330

Explanation:

The computation of the income is shown below;

Given that

U(x, y) = min{x, y2}

Price of x is $25

ANd, the prcie of Y is $15

So,

25X + 15Y = M

if Y = 7,

So,  

At eqm, X = Y^​​​​​​2 = 49

Then ,

M = 25 × 49 + 15 × 7

= 1225 + 105

= 1330

Hence, the income is $1,330

The same should be relevant and considered too

For utility maximization, Elmer's income should be $1330, considering his consumption of 7 units of y at $15 each and a maximum of 49 units of x at $25 each.

To find Elmer's income for utility maximization, we need to consider his utility function, the prices of the goods (x and y), and the quantity of y he chooses to consume.

Elmer's utility function is U(x, y) = min{x, y^2}, which means his utility depends on the minimum of x and y^2. In this case, he chooses to consume 7 units of y at a price of $15 each, so his expenditure on y is 7 * $15 = $105.

Now, we need to find out how much he is willing to spend on x to maximize his utility. Since the utility function takes the minimum of x and y^2, we want to make x as small as possible to keep utility high. Let's assume he consumes x units of x.

For utility maximization, x must be the minimum between x and y^2. In this case, x <= y^2, so x <= 7^2 = 49.

Now, we need to find the price of x, which is $25 per unit.

To maximize utility, he should spend his remaining income on x, so his income (I) should satisfy:

I = expenditure on x + expenditure on y

I = (x * $25) + ($105)

We know that x <= 49, so let's assume he consumes the maximum possible x, which is 49. Therefore,

I = (49 * $25) + ($105)

I = $1225 + $105

I = $1330

So, Elmer's income for utility maximization should be $1330.

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Complete question below :

If Elmer's utility function is U(x, y) = min{x, y^2}, and he chooses to consume 7 units of y at a price of $15 each, what must his income be for utility maximization?

The Standard cost for a pound of Sheffield's double chocolate almond supreme cookies in the above case is $15.10.

What is the standard cost?

A standard cost is defined as an anticipated cost that a company commonly launches at the starting of a fiscal year for amounts used and prices paid.

It is an anticipated amount of money to pay off for materials costs or labor rates. The standardquantity is the anticipated exercise amount of materials or labor.

Computation of standard cost:

According to the given information,

Standard direct materials costs = $0.80 per pound of cookie mix.

Per pound of milk chocolate =  $4, and

Per pound of almonds = $19.

Total ounces:

Then, Standard Material Cost:

Now, 1 minute of direct labor is required in the mixing department and 5 minutes of direct labor in the baking department. Then the standard direct labor cost is:

Variable overhead is applied at a rate = $37.00 per direct labor hour

Now, find the value of Standard Variable overhead cost:

Now, Standard Fixed overhead cost:

Therefore, Standard cost for a pound:

Therefore, Standard cost for a pound is $15.10.

To learn more about the standard cost, refer to:

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Answer:

The Standard cost for a pound  of Sheffield's double chocolate almond supreme cookies is $15.10

Explanation:

The standard direct materials costs are $0.80 per pound of cookie mix, $4 per pound of milk chocolate, and $19 per pound of almonds.

Total ounces = 10 + 5 + 1  = 16

Standard Material Cost = ( × 0.80) + ( × 4) + ( × 19)

Standard Material Cost = $ 2.9375

Each pound of cookies requires 1 minute of direct labor in the mixing department and 5 minutes of direct labor in the baking department.

Standard Direct Labor Cost = × 12.70 + × 27

Standard Direct Labor Cost = $2.4617

Variable overhead is applied at a rate of $37.00 per direct labor hour

Standard Variable overhead cost = 6/60 × 37

Standard Variable overhead cost = $ 3.70

Standard Fixed overhead cost = 6/60 × 60

Standard Fixed overhead cost = $ 6

Standard cost for a pound = $2.9375 + $2.4617 + $3.70 + $6

Standard cost for a pound = $15.10