Manufacturing overhead is consists of indirect materials, indirect labor, and other indirect costs. To solve the problem, a portion of manufacturing income statement looks like this:
Direct material -----------------------$90,000
Direct labor ---------------------------$140,000
Manufacturing overhead--------________
Total cost to manufacture $300,000
Add: Work in process, beg $ 25,000
Less: Work in process, end $ 18,210
Cost of goods manufactures---$ 306,790
So, to solve the (?) in the above format, manufacturing overhead (MO) is derived as follows:
MO = Cost to manufacture - prime cost
= $300,000 - ($140,000 + $90,000)
= $70,000
Thus, manufacturing overhead is $70,000.
Going beyond the minimum requirements set by the Food and Drug Administration; they have personal responsibility for ethical behavior.This is most closely relates to the business ethics programs.
<u>Explanation:</u>
- Business ethics is said to be art and science which helps in maintaining a harmonious relationship with the society and the business conduct of social responsibility.
- These business ideas generally emphasize general business ideas to business behavior.
- It is applicable to all business conduct and to the entire organization along with the individual's conduct.
Answer:
Confidence Interval is 139.04 - 142.96
Explanation:
The formula for a confidence interval is as follow:
Mean (Average price) +/- z-score x standard deviation / sqrt(n)
Formula Interpretation:
Mean = $141
z-score for 95% confidence interval = 1.96
standard deviation = $4
n = 16 --> sqrt (n) = 4
By using these inputs, we can calculate the confidence interval as follow:
141 +/- 1.96 x (4/4)
Confidence Interval is 139.04 - 142.96
Answer:
(1) Material usage variance for X: 1,500 (Favorable)
(2) Material usage variance for Y: -19,500 (Adverse)
Explanation:
Material usage variance for X:
Standard Mix for actual Yield:
= (Standard mix of material X ÷ Yield) × Yield actual mix
= (3,500 ÷ 4,000) × 36,000
= 31,500
Material Usage Variance:
= (Standard Mix for actual Yield- Actual Mix) × Standard unit price
= (31,500-30,000) × $1
= 1,500 (Favorable)
Material usage variance for Y:
Standard Mix for actual Yield:
= (Standard mix of material Y ÷ Yield) × Yield actual mix
= (1,500 ÷ 4,000) × 36,000
= 13,500
Material Usage Variance:
= (Standard Mix for actual Yield- Actual Mix) × Standard unit price
= (13,500 - 20,000) × $3
= -19,500 (Adverse)
Total = (19,500) + 1,500
= (18,000) [Adverse]
Answer:
Threats in its external environment.
Explanation:
Situational analysis can be described as the thorough examination of the internal and external constituents of an organization.
Situational analysis is employed by different organizations to help identify their strengths and weaknesses. It helps to examine the capabilities of employees within an organization.
Situational analysis helps to identify the current strategies and activities that have been put in place inorder to solve problem. It also helps to get a clear insight into the different opinions and experiences of stakeholders.
