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- Sulert, Inc., produces and sells gel-filled ice packs. Sulert’s performance report for April follows: REQUIRED: 1. Calculate the contribution margin variance and the contribution margin volume variance. 2. Calculate the market share variance and the market size variance. (CMA adapted)K Juda Recliners manufactures leather recliners and uses flexible budgeting and a standard cost system. Juda allocates overhead based on yards of direct materials. The company's performance report includes the following selected data: Data table X Sales Static Budget Actual Results (1,025 recliners) (1,005 recliners) (1,025 recliners x $515 each) (1,005 recliners x $480 each) $ 527 875 S 482 400 Variable Manufacturing Costs: Direct Materials (6,150 yds @ $8.90/ yd.) (6,300 yds @ $8.707 yd.) 54.735 54.810 Direct Labor (10,250 DLHr @ $11.30/DLHr) (9,850 DLHr @ $11.40/DLHr) 115 825 112 290 Variable Overhead (6,150 yds @ $5.107 yd.) 31,365 (6,300 yds. @$6.50/yd.) 40.950 Fixed Manufacturing Costs: Fixed Overhead Total Cost of Goods Sold 62,730 64,730 264,655 272,780 263,220 $ 209,620 Gross ProfitCarter Dry Cleaning has developed two regression analyses for cost estimation. The accounting manager has presented statistical measures for both of these regressions. Regression A has an R-squaredvalue of .53 and a t-value of 1.08. Regression B has an R-squared of .89 and a t-value of 2.17. Whatdo these statistical measures indicate about the regressions? Which regression should Carter DryCleaning use for cost estimation?
- Sharp Company manufactures a product for which the following standards have been set: Standard Quantity Standard Price Standard or Hours or Rate Cost $5 per foot ? per hour Direct materials 3 feet $ 15 Direct labor ? hours ? During March, the company purchased direct materials at a cost of $45,375, all of which were used in the production of 2,350 units of product. In addition, 4,800 direct labor-hours were worked on the product during the month. The cost of this labor time was $50,400. The following variances have been computed for the month: Materials quantity variance Labor spending variance Labor efficiency variance $ 2,250 U $ 3,400 U $ 1,000 U Required: 1. For direct materials: a. Compute the actual cost per foot of materials for March. b. Compute the price variance and the spending variance. 2. For direct labor: a. Compute the standard direct labor rate per hour. b. Compute the standard hours allowed for the month's production. c. Compute the standard hours allowed per unit of…Suppose a four period weighted average is being used to forecast demand. Weights for the periods are: Wt-4 = 0.1 Wt-3 = 0.2 Wt-2 = 0.35 Wt-1 = 0.35 Demand observed in the previous four periods was: At-4 = 15,781 At-3 = 14,539 At-2 = 14,503 At-1 = 14,579 What will be the demand forecast for period t? (Keep one decimal place in your answer).Duke Energy reported that the cost of electricity for an efficient home in a particular neighborhood of Cincinnati, Ohio, was $104 per month. A researcher believes that the cost of electricity for a comparable neighborhood in Chicago, Illinois, is higher. A sample of homes in this Chicago neighborhood will be taken and the sample mean monthly cost of electricity will be used to test the following null and alternative hypotheses. Assume the sample data lead to rejection of the null hypothesis. What would be your conclusion about the cost of electricity in the Chicago neighborhood? What is the Type I error in this situation? What are the consequences of making this error? What is the Type II error in this situation? What are the consequences of making this error?
- Using the accompanying data of restaurant sales, determine if the variance of weekday sales is the same as that of weekend sales for each of the three variables (lunch, dinner, and delivery). Click the icon to view the restaurant sales data. Is there sufficient evidence at the 0.01 level of significance to conclude that the variance of weekday sales is the same as that of weekend sales for lunch sales? Determine the null hypothesis, Ho, and the alterative hypothesis, H₁ Let weekend sales be population 1 and weekday sales be population 2. 2 2 100 0 2 2 0 Ho 0-0 H₁: 0-0 (Type integers or decimals. Do not round.) Compute the test statistic. 3.95 (Round to two decimal places as needed.) Find the one-tail p-value for the test. Survey data Date 4-Apr 11-Apr Day Wednesday Wednesday Lunch Sales $ 358 Dinner Sales $ Delivery Sales S 789 293 386 665 299 18-Apr Wednesday 426 628 269 25-Apr Wednesday 331 729 253 3-Apr Tuesday 296 648 325 10-Apr Tuesday 308 572 326 17-Apr Tuesday 297 568 358 24-Apr…Date Day 4-Apr Lunch Sales $ Wednesday Dinner Sales $ Delivery Sales $ 360 11-Apr 788 285 Wednesday 389 662 292 18-Apr Wednesday 410 630 269 25-Apr Wednesday 350 734 235 3-Apr Tuesday 296 651 326 10-Apr Tuesday 317 589 324 17-Apr Tuesday 293 566 368 24-Apr Tuesday 228 523 416 5-Apr Thursday 393 804 272 12-Apr Thursday 407 891 239 19-Apr Thursday 343 920 284 26-Apr Thursday 435 935 353 6-Apr Friday 433 1285 1248 13-Apr Friday 498 1184 1070 20-Apr Friday 465 1338 1259 27-Apr Friday 383 1416 1152 1-Apr Saturday 882 1341 490 8-Apr Saturday 705 1200 331 15-Apr Saturday 744 1139 334 22-Apr Saturday 850 1326 319 29-Apr Saturday 773 1222 389 31-Mar Sunday 532 1472 883 7-Apr Sunday 452 1660 788 14-Apr Sunday 498 1580 723 21-Apr Sunday 620 1741 28-Apr Sunday 639 588 1864 604Dairy Delites had the following projected and incurred the following production and cost data shown below: Actual Variable MOH Incurred $2,328 Actual Quantity of the Cost Driver (AQ) 850 hours Standard Quantity of the Cost Driver (SQ) 780 hours Standard Price per usage of cost driver (SP) $2.30/hr. What is the Variable-MOH Efficiency Variance? A) $161 unfavorable B) $161 favorable C) $373 unfavorable D) $373 favorable
- You observe the 9-day moving average on your chart has moved above the 26-day moving average, after being below it. This would suggest: A. A crossover sell signal B. A crossover buy signalYou are an industry analyst that specializes in an industry where the market inverse demand is P = 100 - 2Q. The external marginal cost of producing the product is MCExternal = 8Q, and the internal cost is MCInternal = 18Q.Instructions: Enter your responses rounded to the nearest two decimal places.a. What is the socially efficient level of output? unitsb. Given these costs and market demand, how much output would a competitive industry produce? unitsc. Given these costs and market demand, how much output would a monopolist produce? unitsd. Which of the following are actions the government could take to induce firms in this industry to produce the socially efficient level of output.Instructions: For correct answers place a check mark. check all that apply Nonrival consumptionunanswered Pollution taxesunanswered Pollution permitsunansweredUsing the accompanying data of restaurant sales, determine if the variance of weekday sales is the same as that of weekend sales for each of the three variables (lunch, dinner, and delivery). Click the icon to view the restaurant sales data. Is there sufficient evidence at the 0.01 level of significance to conclude that the variance of weekday sales is the same as that of weekend sales for lunch sales? Determine the null hypothesis, H. and the alternative hypothesis, H,. Let weekend sales be population 1 and weekday sales be population 2. Ho 61 2 2 Ho H. 0 (Type integers or decimals. Do not round. Survey data X Date Day Lunch Sales $ Dinner Sales $ Delivery Sales $ Compute the test statistic. 4-Apr Wednesday 358 789 293 (Round to two decimal places as needed.) 11-Apr Wednesday 388 665 299 18-Apr Wednesday 426 628 269 25-Apr Wednesday 331 729 253 3-Apr Tuesday 296 648 325 10-Apr Tuesday 308 572 328 17-Apr Tuesday 297 588 358 24-Apr Tuesday 229 529 402 5-Apr Thursday 402 308 273 12-Apr…