Nike CIO surveyed their employees at the R&D department and collected thefollowing data to help him to decide whether employees should work from home orcommute to the work. The data represents the number of miles that employeescommute from home to work each day. There are two samples: one for males andone for females.Males:13 5 2 23 14 5Females:15 632The coefficient of variation of commute miles for the males is:about 67 percent.approximately 76 percent.approximately 61.5.about 7.8.

I have provided the answer above for you. See the answer I provided above to understand the given…

Answered: Nike CIO surveyed their employees at…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Identify the type of cost with reasons: 1.A company had paid 8,00,000 to a marketing research company to find expected demand of the newly developed product of the company 2.A company has invested 25,00,000 in a project. The company could have earned 3,00,000 by investing the amount in proper government securities. 3.Accountant of a cloth factory paid 25,000 for water which has been used for washing the clothes.
I got both answers wrong. I found the activity rate by dividing $26,240 by each of the totals. For labor hrs I got 24.2963 and for machine hrs I got 3.7326. Then I took each of the activity rates and multiplied by each labor/machine hrs for each product. Added that up to get each total but I got it wrong. Please help.
Jeremy Costa, owner of Costa Cabinets Inc., is preparing a bid on a job that requires $2,160 of direct materials, $2,160 of direct labor, and $1,080 of overhead. Jeremy normally applies a standard markup based on cost of goods sold to arrive at an initial bid price. He then adjusts the price as necessary in light of other factors (e.g., competitive pressure) Last year's income statement is as follows: Sales Cost of goods sold Gross margin Selling and administrative expenses Operating income Required: $136,500 77,805 $58,695 46,300 $12,395 1. Calculate the markup that Jeremy will use. Round your answer to one decimal place. 75 X % 2. What is Jeremy's initial bid price? Round your answer to the nearest dollar. Feedback ✓ Check My Work 1. Markup Percentage = Gross margin/Cost of Goods Sold 2. Add costs, Direct Material, Direct Labor and Overhead. Price using Markup = Cost per Unit+ (Cost per Unit x Markup Percentage)
Company, which uses the high-low method to analyze cost behavior, has determined that machine hours best predict the company's total utilities cost. The company's cost and machine hour usage data for the first six months of the year follow:
Rag Swag Inc. manufactures various styles of men’s casual wear. Shirts are cut and assembled by a workforce that is paid by piece rate. This means that they are paid according to the amount of work completed during a period of time. To illustrate, if the piece rate is $0.10 per sleeve assembled, and the worker assembles 800 sleeves during the day, then the worker would be paid $80 (800 × $0.10) for the day’s work. The company is considering adopting a lean manufacturing philosophy by organizing work cells around various types of products and employing pull manufacturing. However, no change is expected in the compensation policy. On this point, the manufacturing manager stated the following: “Piecework compensation provides an incentive to work fast. Without it, the workers will just goof off and expect a full day’s pay. We can’t pay straight hourly wages—at least not in this industry.” A garment company was following piece rate system for its employees and suddenly lean manufacturing…
Verde Company produces wheels for bicycles. During the year, 660,000 wheels were produced. The actual labor used was 368,000 hours at $9.20 per hour. Verde has the following labor standards: 1) $10.20 per hour; 2) 0.5 hour per wheel. REQUIRED 1. Compute the labor rate variance. 2. Compute the labor efficiency variance.
Please help me to solve this problem
The manager of the Personnel Department at City Enterprises has been reading about time-driven ABC and wants to apply it to her department. She has identified four basic activities her employees spend most of the their time on: Interviewing, Hiring, Assessment, and Separation Processing. The department employs 13 staff who perform these activities. The manager provides the following estimates for the amount of time it takes to complete each of these activities: • Interviewing: 53 mìnutes. • Hiring: 68 minutes. • Assessment: 91 minutes. • Separation Processing: 98 minutes. Employees in Personnel work 43-hour weeks with four weeks for vacation. Of the 43 hours, five are reserved for administrative tasks, training, and so on. The costs of the Personnel Department, including any allocated costs from other staff functions, are $980,000. During the year, Personnel conducted 2,000 interviews, made 535 hies, made 4,600 assessments, ond had 290 separations. Required: a. What is the cost per…
Russell and Sons, a CPA firm, established the following standard labor cost data for completing what the firm referred to as a Class 2 tax return. Russell expected each Class 2 return to require 3.3 hours of labor at a cost of $39 per hour. The firm actually completed 650 Class 2 returns. Actual labor hours averaged 2.9 hours per return and actual labor cost amounted to $49 per hour. Required a. Determine the total labor variance and indicate whether it is favorable (F) or unfavorable (U). b. Determine the labor price variance and indicate whether it is favorable (F) or unfavorable (U). c. Determine the labor usage variance and indicate whether it is favorable (F) or unfavorable (U). Note: For all requirements, do not round intermediate calculations and select "None" if there is no effect (i.e., zero variance). a. Total labor variance b. Total labor price variance c. Total labor usage variance
The head of operations of a manufacturing company has conducted an analysis with respect to the capacity of his production line. The major findings are the following: Theoretical capacity is 530 units per day. The effective capacity is 515 units per day The process capacity is 450 units per day. Two projects have been proposed to increase the capacity. The first proposal focuses on improving maintenance in order to reduce machine breakdowns. The second proposal focuses on increasing the capacity of the inventory buffer between various stages. Given that there is only enough budget to implement one of the proposals, which proposal should be selected based on the given information. Clearly motivate your answer. Please do fast.. ASAP ..fast please
In a random sample of adults surveyed recently in a country, researchers asked how important it is "to you personally" to have a high-paying job. A table reporting the responses by gender is shown below. Complete parts a through c below. Full data set O Male Female Extremely important Very important Somewhat important Not too important Not at all important 162 130 349 276 336 332 90 3 54 2 a) What percent of women consider it very important or extremely important for them personally to have a high-paying job? high-paying job is %. The percent of women who consider it very important or extremely important for them personally to have (Round to the nearest integer as needed.) b) How does that compare with men? For young men, % consider it very important or extremely important for them personally to have a high-paying job, which is V the percent of women. c) Do the distributions across all response categories look similar or different? O A. The distributions vary significantly, more women…

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS