Hayward Company, a manufacturing firm, has supplied the following information from its accounting records for the month of May:

Contribution Margin Variance, Contribution Margin Volume Variance, Market Share Variance, Market Size Variance Sulert, Inc., pro

DiKsa [7]

Answer:

1. Market share variance= $65,903(Unfavorable)

2. Market size variance= $36,613(favourable)

Check attachment for the table

5 0

1 year ago

Rashad consistently went above and beyond to meet his personal deadlines and to help other team members to ensure a recent produ

patriot [66]

Complete Question:

Rashad consistently went above and beyond to meet his personal deadlines and to help other team members to ensure a recent product launch was completed on time. His manager was impressed and offered Rashad the opportunity for a coveted leadership position on the next generation product team. The manager's action is consistent with _______ justice.

Group of answer choices.

A. restorative

B. customary

C. distributive

D. frontier

E. reparative

Answer:

Distributive.

Explanation:

In this scenario, Rashad consistently went above and beyond to meet his personal deadlines and to help other team members to ensure a recent product launch was completed on time. As a result of this, his manager was impressed and offered Rashad the opportunity for a coveted leadership position on the next generation product team. The manager's action is consistent with distributive justice.

Distributive justice can be defined as the just and fair allocation of resources among a large group of people. It is mainly focused on the use of discretion as opposed to administrative laws, policies or procedures.

<em>Hence, Rashad was offered the much coveted position by his manager not because he was entitled to it by law but as a result of distributive justice being used by the manager. </em>

8 0

1 year ago

Tracy drinks beer at a bar, then goes to a car dealer and orders a new car. tracy later claims he was drunk and should not have

Vera_Pavlovna [14]

<span>The issue here is whether Tracy had enough to drink that would cause him to be mentally incapacitated. If Tracy was mentally incapacitated, the contract would be rendered unenforceable and thus, Tracy would not need to honor the contract and vice versa. However, if Tracy cannot show this, the contract will likely be upheld.</span>

7 0

2 years ago

Assume that capital is limited to 9 machine hours, but labor is unlimited in supply. In which company is the marginal product o

mestny [16]

Answer:

D. Disk has the greater marginal product of labor when labor is greater than 1.

Explanation:

Marginal product is the increase in output per unit of additional input. The Floppy has lesser marginal utility than Disk. When marginal product of labor is greater than than the product marginal utility increases which means more output is created.

8 0

1 year ago

Ohio Swiss Milk Products manufactures and distributes ice cream in Ohio, Kentucky, and West Virginia. The company wants to expan

LenaWriter [7]

Answer:

a. The regression equation required is Y = 915.18 – 0.2819X.

b. b-1. Correlation coefficient (r) = –0.9423

b-2. Coefficient of determination = r^2 = 88.80%

b-3. The negative correlation coefficient of -0.9423 implies that increase in X mostly causes a decrease in Y. The coefficient of determination implies that 88.80% variation in Y is explained by X.

c. The manufacturing cost per gallon is $823.56.

Explanation:

Note: See the attached excel file for the calculation of Mean of X and Y and other values.

a. Develop a regression equation to forecast the cost per gallon as a function of the number of gallons produced.

The regression can be written as follows:

Y = bo + b1X ………………… (1)

b1 = (Sum of (Y - Mean of Y) * (X - Mean of X)) / (Sum of (X - Mean of X)^2) = –34,273.08 / 121,585.14 = –0.2819

b0 = Mean of Y – (b1 * Mean of X) = 1,018.20 - (365.44 * 0.2819) = 915.18

Substituting b) and b1 values into equation (1), regression equation to forecast the cost per gallon as a function of the number of gallons produced can be written as follows:

Y = 915.18 – 0.2819X ……………………….. (2)

Equation (2) is the regression equation required.

b. What are the correlation coefficient and the coefficient of determination? Comment on your regression equation in light of these measures.

b-1. Correlation coefficient (r) can be calculated using the following formula:

r = (Sum of (Y - Mean of Y) * (X - Mean of X)) / ((Sum of (Y - Mean of Y)^2) * (Sum of (X - Mean of X)^2))^0.5 = –34,273.08 / (10,879.60 * 121,585.14)^0.5 = –0.9423

b-2. Coefficient of determination = r^2 = –0.94^2 = 0.8880, or 88.80%

b-3. The negative correlation coefficient of -0.9423 implies that increase in X mostly causes a decrease in Y. The coefficient of determination implies that 88.80% variation in Y is explained by X.

c. Suppose that the market survey indicates a demand of 325,000 gallons in the Bucyrus Ohio, area. Estimate the manufacturing cost per gallon for a plant producing 325,000 gallons per year.

Since X and Y are in thousands, 325,000 gallons implies we have:

X = 325

Substitute X = 325 into equation (2), we have:

Y = 915.18 - (0.2819 * 325)

Expressing in full form, we have:

Y = $823

Therefore, the manufacturing cost per gallon is $823.56.

Download xlsx

3 0

1 year ago