Compute a materials price variance for the plates purchased last month and a materials quantity variance for the plates used last month. Materials Price Variance measures the difference between what is paid for a given quantity of materials and what should have been paid according to the standard. (Actual Quantity x Actual Price) – (Actual Quantity x Standard Price) or AQ (AP-SP) Materials Price Variance = 12‚000 plates x ($2.50 - $2.35) = $1‚800 Materials Quantity Variance measures the difference
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Doing Statistical Analysis Excel provides a large number of statistical functions. These and the tools in the Analysis ToolPak cover most types of statistical analysis that you would need to do in finance and include in your models. Many people look at functions as "black boxes." You input the arguments‚ and the functions provide the answers. In a way this view is true‚ but it is also dangerous - you may use a function or tool incorrectly or misinterpret the results. So take the time to know
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was $71‚460‚ the seventh year was $98‚280‚ and the eight year was $82‚284. This is concerning that the budget has fluctuated so much. In the ninth year they have allocated $85‚861. This budget line item should be analyzed so there is not so much variance in the budget between year to year. Another concern is the amount of carbon fiber sheets that are going to be purchased. It takes 42 sheets to produce 1 bike. Times this by the number the company is planning on producing‚ 3‚510‚ which will equal
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Geeta & Company has experienced increased production costs. The primary area of concern identified by management is direct labor. The company is considering adopting a standard cost system to help control labor and other costs. Useful historical data are not available because detailed production records have not been maintained. To establish labor standards‚ Geeta & Company has retained an engineering consulting firm. After a complete study of the work process‚ the consultants recommended
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44 Stockholm‚ Sweden Phone: +46 8 7907340 Fax: +46 8 7907343 E-mail: hfan@kth.se URL: http://www.infra.kth.se/impgg With 22 illustrations and 49 numerical examples ISBN 91-7170-200-8 Copyright c 1997 by Huaan Fan All Rights Reserved Geodesy Report No. 2015 TRITA-GEOFOTO 1997:21 Printed by Universitetsservice AB‚ Drottning Kristinas väg 53 B‚ Stockholm October 1997‚ August 1998‚ August 1999‚ May 2000‚ August 2001‚ August 2003‚ October 2005‚ August 2006‚ August 2008‚ August 2009 Printed by AJ
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successful year (year 7)‚ Competition spent $32‚760 on advertising. This dropped to $27‚428 the next year. If we only increase the budget by $984‚ you can only expect minimal increases of sales as a result. A2. Evaluation Of Flexible Budget and Variances A flexible budget is a budget that adjusts different variable costs based on the volume of activity. This budget is better than a static budget‚ because you can adjust it due to the actual needs of the company. For example‚ if we experience
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Labor rate variance is the difference between the actual labor rate and the applied overhead rate (standard rate multiplied by the number of actual hours worked). Consider this and respond to the following: • "Our workers are all under labor contracts. Therefore‚ our labor rate variance is bound to be zero." Do you agree or disagree that the labor rate variance will be zero if all workers are under labor contracts? Explain giving reasons. The concept of labor rate variance and its application
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In more than one way‚ the film release of the Steven Spielberg-Tom Cruise movie ’Minority Report’ could not have been better planned than what is based on a Philip K. Dick book of the same name. Compared to the Book‚ movie is more detailed‚ imaginative‚ creative and original. And on the other side the original book‚ that is serviceable but unpolished‚ it’s also a little clunky and short. The film renders a much more detailed view of a near-term future world than that present in the original book
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Question 1 Stdev VAR Period 14% 0.0196 12 a) Check whether it can be asserted with 98% confidence that the underlying yearly real variance of the portfol Sigma^2= 440 Ho: sigma^2 = 440 H1: sigma^2 not = 440 Statistic 4.9 With 98% confidence Lower limit 3.05348411 Upper limit 24.7249703 With 98% confidence we cannot reject Ho since the statistic is inside the acceptance
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1. Human resource is an example of (an): (Points : 2) Unit-level activity. Batch-level activity. Product-level activity. Organization-sustaining activity. 2. Which of the following is not a limitation of activity-based costing? (Points : 2) Maintaining an activity-based costing system is more costly than maintaining a traditional direct labor-based costing system. Changing from a traditional direct labor-based costing system to an activity-based
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