expected (Total Variance). 2. There was a total unfavorable Volume Variance of $42‚000 due to the decline in the actual number of billed hours (from 15‚000 down to 14‚000). 3. There was a favorable Mix Variance of 72‚000 because of the shift in the product mix resulting in a higher relative percentage of sales of the higher priced product (B) than expected (and a corresponding decrease in the relative percentage sales of A). 4. There was a favorable Price Variance of $10‚000 due to the increase
Premium Variance Marketing Cost
Table of Contents INTRODUCTION 1 QUANTITATIVE VARIANCE ANALYSIS 2 i.Quantity Variance 5 ii.Price Variance 6 iii.Fuel Efficiency Variance 7 iv.Fuel Cost Variance 8 v.Other Cost Variances 9 5 PORTER FORCES……………………………………………………………………….......11 CONCLUSION 12 INTRODUCTION Luotang Power was established by American companies who was selected bidders to operate a 600 MW coal-fired power plant project. This company was located in Hubei Province‚ China. Although this company wholly
Premium Management Strategic management Marketing
market. There are two main reasons why supply curves for most products slope upwards from left to right giving a positive relationship between the market price and quantity supplied: 1) When the market price rises‚ it becomes more profitable for businesses to increase their output. Higher prices send signals to firms that they can increase their profits. When output rises‚ a firm’s costs may rise‚ therefore a higher price is needed to justify the extra output and cover these extra costs of production
Premium Supply and demand
Decision Analysis Example Consider the following problem with three decision alternatives and three states of nature with the following payoff table representing profits: States of Nature s1 s2 s3 d1 4 4 Decisions d2 0 3 d3 1 5 Which decision do you choose? -2 -1 -3 Problem Formulation • A decision problem is characterized by decision alternatives‚ states of nature‚ and resulting payoffs. • The decision alternatives are the different possible strategies the decision maker can employ. • The states
Premium Decision theory
and found the budgeted profits to be $606‚350. The variance amount in turn is $309‚960 under budget. Also‚ the variance amount for revenues is $32‚100. This number is favorable due to the fact that they made more than what they had budgeted for. But on the contrary‚ the variance amount for expenses was $342‚060‚ which was unfavorable because they spent far more than what they had budgeted for. This information would not be sufficient in order to explain to Norton why their profit percentage is
Premium Cost Costs Expense
salary by a factor of over 100. at the present time‚ ken is forced to consider purchasing some more equipment for brown oil because of competition. For ex‚ if ken purchases a Sub 100 and if there is a favorable market he will realize a profit of 300‚000. On the other hand if the market is unfavorable ken will suffer a loss of 200‚000. But ken has always been very optimistic decision maker Answers: What type of decision is Ken facing? *Decision under uncertainty what decision criterion should
Premium Decision theory Present Time
volume of 100‚000 budgeted for the fiscal year. The favorable variance of 10‚000 makes the company to record the increase in the sales revenue for the actual budget. The company recorded $5‚747‚500 as actual revenue compared to $4‚075‚000 budgeted as sale revenue making the company to record the favorable variance of $1‚672‚500 in revenue. Despite the favorable sale variance that the company records‚ it is only the Leather Jacket that records favorable variance because the budgeted sale volume is 5
Premium Marketing Management Strategic management
Cell Biology (PCB 3023) Fall 2012 Review for Exam 1 Chapter 1 List the key commonalties and differences between prokaryotic and eukaryotic cells. Prokaryotic – no organelles; no nucleus; bacteria and Achaea; spherical‚ rodlike/corkscrew-shaped; cell wall; Eukaryotic – has nucleus; has organelles Commonalities – contain DNA that stores genetic information What is the main component of cellular membranes? What function(s) do membranes serve in cells? Made of phospholipids; defines
Premium Amino acid Carboxylic acid Enzyme
Rivers State‚ Nigeria. * E-mail of the corresponding author: ikasie@yahoo.com Abstract This paper is an attempt at providing some reflections on consumer attitude. It examines the concept of consumer attitudes toward marketing efforts of businesses. Furthermore‚ the paper identifies the trilogy of consumer attitude‚ including samples of their measurement scales; and how attitudes connect to the behaviors of consumers‚ but notes that the companies would have difficulty influencing the purchasing
Premium Marketing Emotion Attitude change
RECOMMENDATIONS Management needs to determine which costs can be controlled and which costs cannot be controlled. The variance analysis simply showed that there was an unfavorable variance for manufacturing (99‚000 U). Manufacturing Cost of Goods Sold must be evaluated individually because of the underlying facets from just a number. This unfavorable number could be caused by either an increase in price or a waste in using the number of unit materials. The materials variance should be broken down into the
Premium Variable cost Costs Marketing