Blaire can ensure that the transactions are categorized properly by creating a bank rule. With creating a bank rule, it will help Blaire reconcile regular cash payments into Blaire's bank account.
A bank can be defined as a financial institution licensed to make loans. and receive deposits. Bank rule can be described as an automatically process transactions imported from bank feeds or a bank statement. Bank rule has a function to automatically set the type of transaction, ledger account, or customer or supplier If we are import similar transactions every month, such as direct debits, set up rules.
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an interest rate stated as nominal 12% per year compounded quarterly is the same as: a) effective 1% per month. b) nominal 1% per month. c) 3% per quarter. d) 12.68% per year.
Option (d) is the best choice. A nominal interest rate of 12% per year compounded quarterly is 12.68% per year.
Nominal Interest Rate: What Is It?Nominal interest rates are those that are calculated without taking inflation into consideration. The interest rate that is advertised or stated for a loan but does not include any fees or interest compounding is often referred to as the "nominal" interest rate.
In the banking industry and in the world of investments, the nominal interest rate is frequently used to define interest on various loans. For instance, if a loan's nominal interest rate is 5%, you can anticipate paying $50 in interest for every $1,000 borrowed. You'll have to pay $1,050 at the end of the year.
The nominal rate of interest= 12% (It is compounded Quarterly)
Take original value= x
Interest per Quarter= ([tex]\frac{0.12}{4}[/tex]) x
value after a quarter= ( 1 + [tex]\frac{0.12}{4}[/tex] ) x
now,
We have 4 quarters
Hence, the value after a year= [tex](1 + 0.03)^{4}[/tex] x = 1.1255
Effective rate of return= [tex]\frac{x( 1.1255x - x)}{x}[/tex] X 100
= 12.6 %
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which of the following statements are correct? multiple select question. when the workforce is basically fixed in the short term, managers must be cautious about how labor efficiency variances are used. companies should build inventory even if there is no immediate prospect of sale. excessive inventory contributes to inefficient operations. excessive inventory leads to low defect rates.
The labor efficiency variance measures the ability to utilize labor as expected. This variance is useful for highlighting areas in the production process that use more man-hours than anticipated. This variance is calculated as the difference between the actual labor hours used to produce a good and the standard amount that should be used, multiplied by the standard labor rate. If the variance results are unfavorable, there will likely be a review by the industrial engineer to see if the underlying process can be improved to reduce the number of hours of production required, using means such as:
Simplified product design to reduce assembly timeDecrease in the amount of scrap produced by the processIncrease the amount of automationChange workflowYou can learn more about labor efficiency variance here brainly.com/question/16269880
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market failure occurs when part 2 a. the market system fails to allocate an equal share of resources to all individuals. b. the market system fails to allocate resources to each individual according to their needs. c. the unrestrained market economy leads to too few or too many resources going to a specific economic activity. d. the market system fails to allocate resources to each individual according to their abilities.
The correct option is c. Market failure occurs when unrestrained market economy leads to too few or too many resources going to a specific economic activity.
Market failure, according to neoclassical economics, occurs when a free market fails to allocate products and services in a Pareto-efficient manner, frequently resulting in a net loss of financial value. Market failures can be seen as situations when people's pursuit of their own self-interest results in inefficient outcomes that can be rectified from a societal perspective. Although the word was first used by economists in 1958, the idea can be found as far back as the Victorian philosopher Henry Sidgwick. Public goods, time-inconsistent desires, asymmetric information, non-competitive markets, principal-agent issues, or externalities are frequently linked to market failures.
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Erin works at a financial institution. She has offered a housing loan to a customer. While carrying out the transaction, which legal responsibility should she address?
While carrying out the transaction, the legal responsibility which Erin should address is: D. ensure that she credits the loan amount accurately to the customer's account.
What is a loan?A loan simply refers to an amount of money that is being borrowed by a borrower (customer) from a bank or other financial institutions (lender), and it is legally expected to be paid back by a borrower to the lender at a specific period of time with an agreed interest.
In this scenario, Erin being an accounting official (employee) of this financial institution is saddled with the legal responsibility of ensuring that she accurately credits the amount of money borrowed (loan) to the account of this borrower (customer).
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Complete Question:
Erin works at a financial Institution. She has offered a housing loan to a customer. While carrying out the transaction, which legal responsibility should she address?
A. arrange an informal meeting with the customer
B. organize a success party for the department
C. disclose all confidential Information about the organization to the customer
D. ensure that she credits the loan amount accurately to the customer's account
E show the customer a list of people who defaulted on similar loans
which of the following are basic ways for delivering value to customers via a differentiation strategy? multiple select question. incorporating tangible features that improve product performance commanding a premium price and increasing unit sales incorporating intangible features that enhance buyer satisfaction including product attributes and features that lower the buyer's costs
The basic ways for delivering value to customers via a differentiation strategy are-
Emotional Response.
Innovation.
Brand Presentation.
Unique Experience.
Pricing.
What is a differentiation strategy?
Your differentiation strategy is the manner in that you make your organization stick out from in any other case comparable competition withinside the marketplace. Usually, a differentiation strategy entails highlighting a significant distinction between you and your competition. And that distinction has to be valued with the aid of using your ability clients.
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An automobile salesperson uses ________ when it accesses a mobile system to obtain the latest information on consumer demand for electric vehicles.
It is anticipated that the widespread use of electric propulsion technology will radically alter the automobile industry, enabling environmentally friendly transportation and opening up new commercial prospects for firms. Electric current from electric vehicle batteries, which are both used and stored, is what electric cars (EVs) use (EVBs). Unfortunately, the performance of lithium-ion chemistry-based EVBs degrades over time and with use as a result of calendar aging and cycle aging (Ebner et al. 2013).
After 6 to 8 years of operation, or at least 100,000 miles or 160,000 km of travel, automotive manufacturers anticipate that an EVB will reach the end of its first life (e.g., BMW AG 2016; Nissan North America Inc. 2016). The original driving range, acceleration, and charging speed of the EV are then restored when an EVB is replaced.
Since most removed EVBs still have between 70% and 80% of their useable capacity left, repurposing and using them in new second life applications may prove to be a practical way to increase revenue (Neubauer et al. 2015; Ahmadi et al. 2017). According to Elkind (2014), these income can help offset the high upfront expenses of EVs, up to 25% of which are now covered by the EVB (Nykvist and Nilsson 2015).
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Liz owns a small technology firm where she has sole control and has personal liability for any business debts that arise. This is an example of which form of legal organization?.
The given situation is an example of a sole proprietor.
Who is the Sole proprietor?A person who runs an unincorporated business alone is known as a sole proprietor.
If you choose to treat a domestic limited liability company (LLC) as a corporation, however, and you are the only member, you are not considered to be a sole owner.
All obligations incurred by the company, however, are individually accountable to the business owner.
Small companies like neighborhood grocery stores, neighborhood clothing stores, an artist, freelance writers, IT consultants, freelance graphic designers, etc. are examples of sole proprietors.
An LLC exists independently of its members, who are its proprietors. Members are not personally liable for the obligations and liabilities of the company, nevertheless.
The LLC is in charge here.
A sole proprietorship is a privately owned, unincorporated business that is
Therefore, the given situation is an example of a sole proprietor.
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john bought 1,150 shares of intel stock on october 18, 2018, for $33 per share plus a $750 commission he paid to his broker. on december 12, 2022, he sells the shares for $47.00 per share. he also incurs a $1,000 fee for this transaction. required: a. what is john's adjusted basis in the 1,150 shares of intel stock? b. what amount does john realize when he sells the 1,150 shares? c-1. what is the gain/loss for john on the sale of his intel stock? c-2. what is the character of the gain/loss?
Shares sold with net proceeds that are less than their adjusted basis result in capital gains or losses. The total cost of purchasing the shares is on an adjusted basis. In other words, it includes any expense directly related to the purchase of the shares.
Adjusted basis
Total cost:
Shares Costing = 1,000 shares x $30 = $30,000
A fee of Broker = $750
Basis = $30,000 + $750 = $30,750
Total cost is the sum of all expenditures made to generate a certain production level; when this total cost is divided by the quantity produced, average or unit cost is discovered.
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marcie is enrolled in a principles of microeconomics class but mistakenly buys a macroeconomics book from ebay and cannot return it. she paid $80 for the book. marcie's friend tells marcie to read the macroeconomics book or otherwise she will have lost her $80. explain whether you agree or disagree with marcie's friend.
Marcie's friend and I disagree. It's a sunk cost because I already paid $80 for the book. Reading macroeconomics now will not benefit me because I am supposed to be reading microeconomics now.
What is macroeconomics?
Macroeconomics is the study of how an entire economy—markets, businesses, consumers, and governments—behaves. Macroeconomics studies economic phenomena such as inflation, price levels, economic growth rate, national income, GDP, and changes in unemployment.
Macroeconomics addresses several key questions, including: What causes unemployment? What factors contribute to inflation? What causes or promotes economic growth? Macroeconomics seeks to quantify an economy's performance, understand what forces drive it, and forecast how performance can improve.
As a result, I disagree with Marcie's friend that sunk costs should never be considered when making a financial decision.
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how does the marketing of services globally compare to the marketing of consumer goods? multiple choice question. the marketing of services is generally less complex than the marketing of consumer goods. the marketing of consumer goods is less important than the marketing of services. the marketing of services is generally more complex than the marketing of consumer goods. the marketing of services is less important than the marketing of consumer goods.
The marketing of services globally compares to the marketing of consumer goods in the way that the marketing of services is generally less complex than the marketing of consumer goods.
Services are the facilities that you provide whereas goods are the products that you make.
In general, marketing of services is less complex as people can easily look through the facilities you provide and decide whether they are interested.
However, the marketing of goods is more complex due to the increased competition in the market and people need to be introduced about the quality and facilities that your product can provide.
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luca, a manager at a commercial real estate firm, has established a monthly sales quota for his sales team. which basic function of management best describes luca's actions?
The basic function of management that describes Luca's actions of establishing a monthly sales quota for the sales team is Controlling.
What are the basic functions of management?There are five basic functions of management including controlling, planning, organizing, staffing, and leading.
Controlling calls for establishing certain measures or standards and goals that the company or department has to meet. The company or department would then have to work towards achieving those goals and standards.
Luca is most likely engaged in the controlling function because he established a sales quota for the team that they have to meet. Meeting this sales quota would ensure that the company is better off.
Another function of management which is closely related to this is planning. Luca engaged in planning for the sales that his sales team would make by coming up with a quota.
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nadia is going to receive $1,000 from her grandparents next year. according to the time value of money, the gift of $1,000 is worth a gift of $1,000 if she received it today. less than more than the same as twice as much as
The worth of $1,000 gift that Nadia is going to receive next year will be less than current value because as per time value of money current money has more worth than same money in future.
The idea of the time value of money (TVM) states that a monetary amount is valuable more now than it would be at a later point in time owing to its potential for earnings in the meantime. A fundamental idea in finance is the time value of money. Amount of money in your possession is considerably more valuable than a similar sum that will be delivered in the future. The discounted present value is another name for the time value of money.
Therefore, the value of gift will be less than $1000, if she is going to receive the same gift worth $1,000, in future due to the concept of time value of money.
The complete question is here:
Nadia is going to receive $1,000 from her grandparents next year. according to the time value of money, the gift of $1,000 is worth a gift of $1,000 if she received it today
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an error in the physical count of goods on hand at the end of a period resulted in an $7600 overstatement of the ending inventory. the affect of this error in the current period is
Cost of goods sold (COGS). The carrying value of goods sold during a specific period is referred to as the cost of goods sold.
What is cost of goods sold ?Costs are assigned to specific items using one of several formulas, such as specific identification, first-in-first-out (FIFO), or average cost. Costs include all purchase, conversion, and other costs incurred in bringing the inventories to their current location and condition.
Material, labour, and allocated overhead are all included in the costs of goods manufactured by businesses. The costs of goods that have not yet been sold are deferred as inventory costs until the inventory is sold or written down in value.
Many businesses sell goods that they have purchased or manufactured. When goods are purchased or manufactured, the costs associated with those goods are capitalised as part of the inventory (or stock) of goods. These expenses are deducted when the company recognises income from the sale of goods.
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this final act in closing out a project helps future projects, may be required by government regulations, ensures warranties are valid, may be required by the customer, and may be required for certification. what process does this describe?
Project closure is the last step in finalizing a project. It deals with unsolved issues and archives the data of the project for future reference.
It is an important step in finalizing the project as the project information is archived, plans are completed, and allows the team members move forward with other plans. The first step is to review the progress, complete the deal and make a report of customer satisfaction.
The second step includes the lessons learned from the project. It includes a review of the timeline, project budget, and other aspects included in the completion of the project.
The third step is the sense of accomplishment among the team members involved in the completion of the project. The final step is to archive the details and information of the project for future reference. It notifies the team and upper authority about the completion of the project.
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Which system is quick, impulsive, and intuitive, relying on emotions or habits to provide cues for what to do next?.
Reactive systems are prompt, impulsive, and intuitive; they rely on feelings or routines to give them indications about what to do next.
In contrast to the reactive system, which is rapid, impulsive, and intuitive and relies on emotions or habits to give indications as to what to do next, the reflective system is logical, analytical, deliberate, and meticulous. According to neuropsychological research, the brain can only use one feelings information-processing system at a time [Darlow & Sloman] and that the two systems are controlled by various regions of the brain.
From an evolutionary standpoint, the basal ganglia and amygdala (more primitive portions of the brain) are more involved in the reactive system, Reactive systems whereas the prefrontal cortex is more involved in the feelings reflective system.
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customer service is a key attribute of sharon's shoe shop. sharon expects all of her employees to provide excellent service, and her performance appraisals go over this area in detail. which criterion for effective performance is sharon using?
Customer service is a key attribute of Sharon's shoe shop. The criterion for effective performance is Sharon using Fit with strategy.
Customer service is the support and advice that a company provides to people who purchase or use its products and services. Different industries require different levels of customer service, but ultimately, the idea of well-delivered service is to increase revenue. formed in the ages. This gave rise to the customer service he is known for today. It is very interesting to look back in history and see how this industry has evolved.
Inform you and your employees about the products you sell. Respond to customer questions and respond quickly (even if it's negative feedback). Do whatever it takes to make your customers happy and feel special.
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it is found that a test designed to measure management ability is a very good predictor of how well an individual will function as a manager. this test is said to be
Valid test refers to how directly a system measures what it's intended to measure. However, that means it produces results that correspond to real parcels, characteristics, If exploration has high validity.
What Test validity ?Validity is the most important issue in opting a test. Validity refers to what characteristic the test measures and how well the test measures that characteristic.
Validity tells you if the characteristic being measured by a test is related to job qualifications and conditions.
Validity gives meaning to the test scores. Validity substantiation indicates that there's relation between test performance and job-performance
Validity also describes the degree to which you can make specific conclusions or prognostications about people grounded on their test scores
a valid test can be conducted on basis of:
Validity substantiation
Job similarity
Fairness substantiation
Other significant variables
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an investor who is in the 35% federal tax bracket and the 5% state bracket buys a 6.5% yield corporate bond. what is his after-tax yield? (assume that federal taxes are not deductible against state taxes and vice versa). 3.9% 4.75% 6.5% 9.9%
Municipal bonds are preferred by investors over corporate bonds when they offer yields above 4.75%.
The tax-exempt equivalent of a municipal bond is calculated by multiplying the bond yield by one, less the taxpayer's state and tax amount of 6.50% × (1 - 35%).
Municipal Bond Equivalent Yield of 4.75%.
Municipal bonds should offer a higher yield than the 4.75% equivalent yield, as investors prefer them over corporate bonds.
In short, such municipal bonds fund specific projects or operations by local governments, counties, or regions, as opposed to bonds issued by the Treasury, which are backed by full faith in the national currency.
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xavier wants to know how much his company owns and how much it owes. he should look at the a. asset list. b. income statement. c. balance sheet. d. statement of cash flows.
He should look at the balance sheet.
The balance sheet of a business, also referred to as a "statement of financial position," lists the company's assets, liabilities, and equity (net worth).
Why is a balance sheet important?In addition to listing the company's assets and liabilities, a balance sheet serves the purpose of providing interested parties with information about the company's financial position. All investors should be able to use, interpret, and read a balance sheet. A balance sheet might provide information or justification for buying a stock.The balance sheet of a business, also referred to as a "statement of financial position," lists the company's assets, liabilities, and equity (net worth). The income statement, cash flow statement, and balance sheet together form the foundation of any company's financial statements.To learn more about : Balance sheet
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question 1 in which stage of the data life cycle does a business decide what kind of data it needs, how the data will be managed, and who will be responsible for it?
A business decides what type of data it need, how it will be managed throughout its life cycle, who will be in charge of it, and the best outcomes during planning.
What is the company life cycle?In business, a product's life cycle tracks its development, maturation, and decline. Product development, market introduction, growth, maturation, and decline/stability are the five stages of a life cycle.An analysis project using data from a private company has been completed by a data analyst. In order to protect the data, they delete the digital files. In order to protect sensitive information, data analysts employ secure data-erasure software and shred paper files during the destroy phase.During planning, a business determines what type of data is required, how it will be managed throughout its life cycle, who will be in charge of it, and the best outcomes.To learn more about company life cycle refer to:
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be healthy, a vitamin manufacturer, has divided its huge consumer base into smaller groups based on age: children, adults, and the elderly. this is an example of multiple choice distribution management. product development. market segmentation. market targeting. product positioning.
Dividing the huge consumer base is an example of market segmentation.
The term market segmentation refers to dividing the whole market into subsets or parts based on a particular criteria related to making profit in the business in a more easier way.
Here, by market it refers to the consumer base which is divided by age or interests or priorities to make manufacturing according to needs of the same.
Market segmentation is done in different ways like demographic, psychologic, behavioral and geographic.
In the given example, the vitamin manufacture segments it s huge consumer base into smaller groups based on age into children, adults and the elderly. This is market segmentation. Manufacturers can be more efficient by doing so.
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hugh jackson is thinking about buying an investment. the investment option that he is thinking about buying is an investment where investors pool their money. one of the key features is that it is managed by professional managers. what investment is hugh thinking about purchasing? multiple choice common stock preferred stock corporate bond real estate mutual fund
Hugh is thinking about purchasing a Mutual Fund.
A mutual fund is a business that pools money from multiple investors and invests it in securities such as stocks, bonds, and short-term debt. The portfolio of the mutual fund is its total holdings. Mutual funds are purchased by investors.
A mutual fund is a type of investment vehicle that pools money from investors who share a common investment goal. Based on the scheme's objectives, it then invests the funds in various asset classes such as equities and bonds. These investments are made on behalf of the investors by an asset management company (AMC).
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which of the following would most likely have caused the production possibilities frontier to shift outward from a to b? group of answer choices a decrease in unemployment a technological advance in the consumer goods industries a general technological advance an increase in the availability of capital-producing resources
General technological advance is most likely to cause the production possibilities frontier to shift outward from a to b.
Technology has always been vital for organisations, but in recent years, that importance has increased significantly. By definition, technology is the practical application of scientific knowledge, and it is obvious that in order for businesses to remain competitive, they must adopt new technologies. The importance of new technology for organisations can be attributed to a number of factors. First, firms can improve their production and efficiency by utilising modern technologies. This is so that workers may concentrate on other duties because new technologies sometimes automate operations that were previously performed manually. Additionally, by lowering their dependency on costly manual labour, new technology can assist firms in saving money. Finally, firms can frequently access new markets and clients thanks to new technologies.
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the existing spot rate of the canadian dollar is $.82. the premium on a canadian dollar call option is $.04. the exercise price is $.81. the option will be exercised on the expiration date if at all. if the spot rate on the expiration date is $.87, the profit as a percent of the initial investment (the premium paid) is: group of answer choices
The net profit per unit is 50%.
The net profit per unit is: $.87 - $.81 - $.04 = $.02. The net profit per unit as a percent of the initial investment per unit is: $.02/$.04 = 50%.
A financial ratio called net profit margin, sometimes referred to as profit margin or net profit margin ratio, is used to determine the percentage of profit an organization generates from its total sales. It gauges how much net profit a business makes for every dollar of revenue generated. The ratio of net profit, also known as net income, to total sales, stated as a percentage, is known as the net profit margin.
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a polisher has a production cycle that consists of 36 minutes of setup time, followed by 53 minutes of production. while producing, the polisher produces 212 parts per minute. what is the capacity of the polisher in parts per minute?
The machine can produce 212 components per minute is the capacity of the polisher in parts per minute
first determine the overall duration.
Total time equals production time plus setup time.
36 minutes plus 53 minutes total.
Time taken: 89 minutes.
Add up all the units.
Total Units = Minutes of Production x Hours of Time
Total Units = 212 PPM multiplied by 89 minutes.
Units in total = 18868 parts
Determine the parts per minute now.
Total Units / Total Time equals parts per minute.
18868 pieces / 89 minutes equals parts per minute.
212 parts per minute is one minute in parts.
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b. what are some potential consequences of such a price ceiling? a decline in housing availability a decline in housing quality the development of a black market in housing housing discrimination
Call for is the amount of a good that purchasers are inclined and capable of buy at numerous fees in the course of a given time.
The required details for Demand in given paragraph
a. At fee of $1,2 hundred in step with unit, Quantity Demanded is 17,000 whilst Quantity furnished is 9,000units.
Since Quantity Demanded is extra than Quantity furnished
There is Shortage of 8000 devices within side the marketplace.
b. All of the above alternatives are accurate as fee ceiling will increase the black marketplace for housing. This is due to the fact call for is much less than deliver and there may be scarcity of houses. As a end result dealer or residence proprietor will begin disturbing excessive fees from the client which in the end create a black marketplace. This additionally degrade the residence fine and there might be discrimination among the shoppers as client with maximum willingness to shop for gets the residence. The courting among fee and amount call for is likewise referred to as the call for curve.
Demand for a particular object is a characteristic of an object's perceived necessity, fee, perceived fine, convenience, to be had alternatives, purchasers' disposable earnings and tastes, and lots of different alternatives.
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the capital asset pricing model question content area bottom part 1 a. provides a riskreturn tradeoff in which risk is measured in terms of the market returns. b. measures risk as the correlation coefficient between a security and market rates of return. c. depicts the total risk of a security. d. provides a riskreturn tradeoff in which risk is measured in terms of beta.
The capital asset pricing model offers a risk-return trade-off in which risk is expressed as beta.
What is capital asset?A capital asset is defined as any property held by an assessed, whether related to their business or profession or unrelated to their business or profession. It encompasses all types of property, whether mobile or immobile, tangible or intangible, fixed or circulating. Capital assets are defined as: a) any type of property held by an assessed, whether or not related to the assesses business or profession. b) Any securities held by a FII that has invested in such securities in accordance with the SEBI Act of 1992. Homes, cars, investment properties, stocks, bonds, and even collectibles or art are examples of capital assets.
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nancy works for northrop grumman corporation. she is assigned to a group of employees who work on solving quality issues the company is facing. nancy participates in a(n)
Based on the fact that Nancy is assigned to a group of employees who have to solve the quality issues being faced by the company, Nancy is participating in a Quality circle.
What is a Quality circle?A Quality circle in a company refers to a department that is formed to solve any issues that the company has with the quality of the goods or service that it is providing to its customers. The people in this department are often drawn from different department so as to create a diverse pool that can come up with different solutions to whatever quality issues the company is facing.
Some of the solutions that a Quality circle might come up with include sourcing better materials or giving employees better training. Nancy is in a team that is in charge of solving any quality problems the Northrop Grumman Corporation has so she must be in a Quality circle.
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If a higher level of production allows workers to specialize in particular tasks, a firm will likely exhibit ________ of scale and ________ average total cost.
If a higher level of production allows workers to specialize in particular tasks, a firm will likely exhibit economies of scale and falling average total cost
What Are Economies of Scale?Economies of scale are financial benefits businesses enjoy as production becomes more productive because costs may be divided over a larger number of products.The ability of a company to benefit from economies of scale depends on its size; bigger businesses will produce more goods and save more money.Scale economies might be internal or external. External causes have an impact on the entire sector Internal economies are driven by conditions within a particular firm.Several factors contribute to economies of scale resulting in cheaper per-unit costs. First, increased worker specialization and technological integration increase production rates. Second, cheaper per-unit expenses may result from supplier bulk orders, larger advertising purchases, or lower capital costs. Third, spreading internal function costs over a greater number of manufactured and sold units aids in cost reduction.To learn more about economies of scale, refer to https://brainly.com/question/780900
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quincy's framing and art supplies frames artwork. the cost formula for the company's supplies cost is $1,880 per month plus $8 per frame. for the month of march, the company planned for activity of 628 frames, but the actual level of activity was 632 frames. the actual supplies cost for the month was $7,350. the activity variance for supplies cost in march would be closest to:
The Activity Variance for the cost of supplies is $80. Unfavorable Cost of Supplies Activity Variance = $80 Unfavorable
Budgeted Cost
=[(616 Frames x $10)+ $1,760]
=$7,920
Flexible Cost
= [(624 Frames x $10)+ $1,760]
=$8,000
The Activity Variance for supplies cost
=Budgeted Cost - Flexible Cost
=$7,920 - $8,000
= $80 Unfavorable
An examination of the discrepancy between anticipated and actual Activity Variance numbers is the essence of variance analysis. The Unfavorable total of all deviations provides an overview of the overall over- or under-performance for a given reporting period. Companies evaluate each item's favorability by contrasting real costs with average industry expenses.
The discrepancy between standards and actual performance metrics is what we refer to as a "variance." Variances are calculated for the cost Activity Variance and quantity of the materials, the labor cost, and the Unfavorable variable overhead, and they are then communicated to management. Not every difference, though, is significant.
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