activity of 17,100 hours: Direct Materials (6 ft. x $5/ft) Direct Labor (1.6 hrs.x $10/hr) Variable-MOH (1.6 hrs.x $4/hr.) Fixed-MOH (1.6 hrs.x $2/hr.) Standard cost per unit $30.00 16.00 6.40 3.20 $55.60 In the past year, the following actual results were recorded: based on

Explain how you find the portion of the mean-variance-frontier that is the efficient frontier and explain what this means.

Draw a graph of return on y axis and standard deviation on x-axis

What are the four variances in the four-variance method and what does each measure? (appendix)

Which method is used to see if a relationship between the cost driver and total cost exists? scatter plot variance analysis outlier account analysis

Differentiate between variance analysis and sensitivity analysis

What is the primary difference between the two-variance and three-variance methods of calculation? (appendix)

Consider the following time series: Construct a time series plot. What type of pattern exists in the data? Use simple linear regression analysis to find the parameters for the line that minimizes MSE for this time series. What is the forecast for t = 8?

Close the PRIMEVAR4 file and open PRIMEVAR3. Click the Chart sheet tab. On the screen is a graphical representation of the variances computed in requirement 3. Review the chart and answer the following questions: a. Which variances does each bar represent? A __________ B __________ C __________ D __________ b. Which of the variances shown would be of most concern to management for immediate attention? (Consider groups of variances and materiality also.) Explain. When the assignment is complete, close the file without saving it again. Worksheet. McGrade Industries also has the following information regarding overhead for October: actual overhead 375,000, standard variable overhead of 3 per direct labor hour, and standard fixed overhead of 5 per direct labor hour (based on 47,000 hours budgeted). Modify the PRIMEVAR3 worksheet to compute all appropriate overhead variances. Preview the printout to make sure that the worksheet will print neatly on one page, and then print the worksheet. Save the completed file as PRIMEVART. Hint: Insert several new rows in the Data Section and in the Answer Section. Chart. Using the PRIMEVAR3 file, prepare a 3-D stacked bar chart to compare total standard cost per unit with actual cost per unit. Complete the Chart Tickler Data Table and use it as a basis for preparing the chart. You do not need to use cell references when completing the table. Enter all appropriate titles, legends, and formats. Enter your name somewhere on the chart. Save the file again as PRIMEVAR3. Print the chart.

Which one is the correct answer?