cesaw1!1The time in seconds it takes for 20 individual sewing machines to stitch a border onto a particular garment is listed below. Calculatethe mean stitching time, the variance, and the standard deviation. (Round the "mean time" and "variance" to the nearest tenth and"standard deviation" to the nearest hundredth.)66 64 69 53 6160 64 73 66 5658 61 58 55 5974 62 60 50 62Mean timeVarianceStandard deviationwww< Prev14 of 14Next >MacBook AirFG6:F1QAN20F2WS#320F3XED54$888F4RC%5FF5TV^6GY&7BF7H* 00U8DIIF8JN(9FOKM)0.F10

Data given: n X 1 66 2 60 3 58 4 74 5 64 6 64 7 61 8 62 9 69 10 73 11 58…

Answered: The time in seconds it takes for 20…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Direct Materials Variances The following data relate to the direct materials cost for the production of 2,100 automobile tires: Actual: 59,100 lbs. at $1.9 per lb. Standard: 60,300 lbs. at $1.85 per lb. a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Direct Materials Price Variance $fill in the blank 1 Direct Materials Quantity Variance $fill in the blank 3 Total Direct Materials Cost Variance $fill in the blank 5 b. The direct materials price variance should normally be reported to the . If lower amounts of direct materials had been used because of production efficiencies, the variance would be reported to the . If the favorable use of raw materials had been caused by the purchase of higher-quality raw materials, the variance should be reported to the .
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The management of Earth Barber Lawnmowers has calculated the following variances: Direct materials cost variance Direct materials efficiency variance Direct labor cost variance Direct labor efficiency variance Variable overhead cost variance Variable overhead efficiency variance Select one: $8000 U 5000 F Fixed overhead cost variance 4000 F Fixed overhead volume variance 2,500 F When determining the total product cost flexible budget variance, what is the total fixed overhead variance of the company? A. $7000 F B. $4000 F C. $9000 F D. $5000 F 37,000 F 18,000 F 12,000 U 3000 F
Please redo this problem and show me steps on how to get the following questions correct, its stating I am wrong. Please help Direct Labor Variances The following data relate to labor cost for production of 6,600 cellular telephones: Actual: 4,480 hrs. at $16.10 $72,128 Standard: 4,410 hrs. at $16.40 $72,324 a. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter all values as a positive number and then identify the variance (e.g. Favorable or Unfavorable) in the adjacent column. Rate variance $ Favorable Time variance $ Unfavorable Total direct labor cost variance $ Favorable b. The employees may have been less-experienced or poorly trained, thereby resulting in a lower labor rate than planned. The lower level of experience or training may have resulted in less efficient performance. Thus, the actual time required was more than standard. LIz C
Krueger Corporation in Washington, D.C., U.S., recently implemented a standard cost system. The company’s cost accountant has gathered the following information needed to perform a variance analysis at the end of the month: Standard Cost Information Direct materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $5 per pound Quantity allowed per unit . . . . . . . . . . . . . . . . . . . . . . . . . . . . .100 pounds per unit Direct labor rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $20.00 per hour Hours allowed per unit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 hours per unit Fixed overhead budgeted . . . . . . . . . . . . . . . . . . . . . . . . $12,000 per month Normal level of production . . . . . . . . . . . . . . . . . . . . . . . . . . 1,200 units Variable overhead application rate . . . . . . . . . . . . . . . . . . . $ 2.00 per unit Fixed overhead application rate ($12,000 _ 1,200 units) . . . 10.00…
Title Calculate the material quantity variance. Description (JIT variances) Natural Gardens makes recylcable pots for plants and uses JIT to manage inventories and production. The following are standards for a typical 1-gallon pot: Annual Material Standards 32 ounces of Component X × $0.02 $0.64 2 ounces of Component Y × $0.05 0.10 $0.74 Current Material Standards 27 ounces of Component X × $0.02 $0.54 4 ounces of Component Y × $0.05 0.20 $0.74 In-house experiments indicated that changing the material standard would make the pots stronger, so the company issued an engineering change order for the product in February; this ECO established the current material standards. March production was 8,000 pots. Usage of raw material (all purchased at standard price) in March was 220,000 ounces of Component X and 31,000 ounces of Component Y. a. Calculate the material quantity variance. b. Calculate the ECO variance. c. Summarize the…
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1
Gauging the Favorableness of Variances When variances occur, they are described as being either favorable or unfavorable. When actual activity consumes more time or money than initially planned, an unfavorable variance exists. However, when actual activity consumes less time or money than initially planned, a favorable variance exists. Note that the terms favorable and unfavorable are used, rather than saying that a variance is good or bad, because until the cause of a variance is discovered, it is not clear whether a variance is either good or bad. Note: Use the minus sign to indicate negative values (when the budgeted amount is greater than the actual). If a company calculates that the actual cost for the actual hours worked by employees was $4,600,000, and the amount budgeted for those hours actually worked was $4,800,000, the actual cost for hours worked less the budgeted cost for hours worked is $ less than ✔ the budgeted cost at actual hours worked. What type of variance is this?…
Five percent of computer parts produced by a certain supplier are defective. If 20 parts are selected at random, find expected number of non-defective parts and its variance.
Direct Materials Variances The following data relate to the direct materials cost for the production of automobile tires: Actual: 53,700 lbs. at $1.75 per lb.Standard: 52,100 lbs. at $1.80 per lb. a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Line Item Description Amount Variance Direct Materials Price Variance $fill in the blank 1 Direct Materials Quantity Variance $fill in the blank 3 Total Direct Materials Cost Variance $fill in the blank 5
Number 1 fill in table

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