Answer:
1 ) Variable Overhead Rate Variance = ( SR - AR )* AH
= ( $21 - $20) 3,500
= $3,500 Favorable
2 ) Labor Rate = ( SR - AR )* AH
= ( $24 - $24.9) 2,290
=$2,061 U
Explanation:
TOTAL = Standard cost - Incurred cost
Standard Cost = $70,000 + $4,550
= $74,550
Standard Rate = $74,550 / 3,550
= $21
cost incurred = AR * machine hours
cost per machine hour = $70,000/3,500
=$20
2) Labor Rate = ( SR - AR )* AH
= ( $24 - $24.9) 2,290
=$2,061 U
AR = $57,021/2,290 = $24.9
AR = Actual Rate
SR = Standard Rate
AH = Actual hours
Answer:
Question requires that you find five sentence fragments, one dangling modifier, one passive-voice sentence, and one parallelism fault.
Sentence Fragment
A sentence fragment is so because it is either missing a subject, or a verb, and/ or a complete thought. It is therefore an incomplete sentence.
- 5. Although no clear line separates fun from profit or a hobby from a business.
- 12. If you spend eight or more hours a day trading on eBay.
- 17. If you spend $5 for a garage sale vase and sell it for $50.
- 18. The IRS would probably consider this a business transaction.
- 20. Even for eBay sellers who are just playing around. (not a proper sentence)
Dangling Modifier
Attempts to modify an unclear word in the sentence
- 19. All profits are taxable.
It is unclear what profits the sentence alludes to.
Passive-voice sentence
In Passive voice, the subject of the text is the one that is being acted upon.
- 13. The IRS would tend to think you are in a business.
Parallelism Fault
This occurs when the sentence is not grammatically parallel. In other words the sentence does not follow as it is not using the same structure.
- 3. As you are probably already aware, you can use eBay or one of the other sellers to clean out your closets or to run a small business.
Answer:
The cross elasticity of demand is zero
Explanation:
Cross elasticity of demand measures the percentage change in the quantity demand of a product occasioned by a change in the price of another but related commodity.
If the the commodities are complements, the cross of elasticity of demand between them would be negative. his implies an increase(decrease) in the price of one would lead to a decrease(increase) in the demand of the other.
If the the commodities are substitutes, the cross elasticity of demand between them would be positive. This implies an increase(decrease) in the price of one would lead to a increase (decrease) in the quantity demand of the other.
Where the cross elasticity of demand is zero, this implies that the goods are not in any way related. This implies that a change in the price of one would produce no change in the quantity demand of the other.
Answer: 4). Unrealistic performance goals.
Explanation: Ethics are moral principles that guide how an individual acts. Ethics involves integrity and values.
In the context above, employees were given unrealistic sales targets regardless of the economic constraint of the nation. This hampered the ethical nature of some of the Staff as for fear of being penalized they became unethical.
Answer:
EOQ 400 units
inventory cost $1,200
holding $600
ordering $600
reorder point 369.9 pounds
Explanation:
EOQ
<u>Where:</u>
D = annual demand = 200 days x 75 pound per day = 15,000
S= setup cost = ordering cost = $ 16
H= Holding Cost = $ 3
EOQ 400
Inventory cost:
average inventory x holding cost
400/2 x $3 = $600 holding cost
order per year x order cost
15,000/400 x $16 = $600 order cost
<u>reorder point: demand x lead time + safety stock</u>
to get a confidence of 99% we need to look at the table for a Z value which is above 99% of the cases and then, move it to our ditribution.
In the talbe we got at a Z of 2.33 has a score of 0.99 which is the probability we want.
Now we calculate the safety stock
safety stock: 69.9
This is the safety stock
Now the company will reorder at:
daily use x lead time + safety stock:
75 x 4 + 69.9 =
300 + 69.9 = 369.9
