Samuel Thomas is a cost accountant and business analyst for Dashing Design Company? (DDC), which manufactures expensive brass doorknobs. DDC uses two direct cost? categories: direct materials and direct manufacturing labor. Thomas feels that manufacturing overhead is most closely related to material usage.? Therefore, DDC allocates manufacturing overhead to production based upon pounds of materials used.
At the beginning of 2014?, DC budgeted annual production of 450,000 doorknobs and adopted the following standards for each? doorknob:
|
Input |
Cost/Doorknob |
|
|
Direct materials (brass) |
0.3 lbs. @ $11/lb. |
$3.30 |
|
Direct manufacturing labor |
1.2 hours @ $18/hour |
21.60 |
|
Manufacturing overhead: |
||
|
Variable |
$5/lb x 0.3 lb. |
1.50 |
|
Fixed |
$14/lb. x 0.3 lb. |
4.20 |
|
Standard cost per doorknob |
$30.60 |
Actual results for April 2014 were as? follows:
|
Production |
29,000 doorknobs |
|
Direct materials purchased |
12,300 lbs. at $12/lb. |
|
Direct materials used |
8,500 lbs. |
|
Direct manufacturing labor |
29,300 hours for $615,300 |
|
Variable manufacturing overhead |
$64,700 |
|
Fixed manufacturing overhead |
$160,000 |
Requirements:
a. Direct materials price variance? (based on? purchases)
b. Direct materials efficiency variance
c. Direct manufacturing labor price variance
d. Direct manufacturing labor efficiency variance
e. Variable manufacturing overhead spending variance
f. Variable manufacturing overhead efficiency variance
g. ?Production-volume variance
h. Fixed manufacturing overhead spending variance
In: Accounting
A marketing manager for Country Kitchen Corporation (CKC), which sells snack food product "Nature -Bar" in dif- ferent regions, was interested in how its sales (denoted Sales) are influenced by the sales of its main competitor (denoted Csales.) She gathered last year data on Sales and Csales for a 15 randomly selected sales regions and ob- tained the regression model of Sales on Csales. Both Sales and Csales are measured in millions of dollars. To answer questions below use your own Minitab output.
The data are in Excel file Nature-Bar.
a) Is the regression of Sales on Csales statistically significant at a= 0.02? (State the hypothesis test, rejection rule and your conclusion)
|
Region |
Sales |
Advertising |
Promotions |
Csales |
||
|
Selkirk |
101.8 |
1.3 |
0.2 |
20.4 |
Csales=main competitor's sales |
|
|
Susquehanna |
44.4 |
0.7 |
0.2 |
30.5 |
Sales=sales of company's Nature -Bar |
|
|
Kittery |
108.3 |
1.4 |
0.3 |
24.6 |
||
|
Acton |
85.1 |
0.5 |
0.4 |
19.6 |
||
|
Finger Lakes |
77.1 |
0.5 |
0.6 |
25.5 |
||
|
Berkshires |
158.7 |
1.9 |
0.4 |
21.7 |
||
|
Central |
180.4 |
1.2 |
1 |
6.8 |
all variables are in millions of dollars |
|
|
Providence |
64.2 |
0.4 |
0.4 |
12.6 |
||
|
Nashua |
74.6 |
0.6 |
0.5 |
31.3 |
||
|
Dunster |
143.4 |
1.3 |
0.6 |
18.6 |
||
|
Endicott |
120.6 |
1.6 |
0.8 |
19.9 |
||
|
Five-Towns |
69.7 |
1 |
0.3 |
25.6 |
||
|
Waldeboro |
67.8 |
0.8 |
0.2 |
27.4 |
||
|
Jackson |
106.7 |
0.6 |
0.5 |
24.3 |
||
|
Stowe |
119.6 |
1.1 |
0.3 |
13.7 |
In: Statistics and Probability
| Plant | Sample size | Sample mean | Sample sd |
| A | 50 | 50.3 | 0.2 |
| B | 50 | 50.7 | 0.3 |
(a) (7 points) Is there evidence, at 5% significance level, to show
that the mean diameter of these two plants are different? Write
down the hypotheses, test statistic, P-value and your
conclusion.
In: Statistics and Probability
[4] Approximate the following binomial probabilities by the use of normal approximation (n = 50, p = 0.3). Remember to use a continuity correction. P(x = 18) P(x ≥ 15) P(x ≤ 12) P(12 ≤ x ≤ 18)
I don't understand this question as well too?
In: Statistics and Probability
If a continuous random process has a probability density function f(x) = a + bx, for 0 < x < 5, where a and b are constants, and P(X > 3) = 0.3 Determine:
In: Statistics and Probability
In a system of three particles, each particle has three quantum
states. The energies of these situations are 0.3? and 5?,
respectively. Write the partition functions of the particles that
meet the following conditions.
a) If the particles are distinguishable
b) Particles comply with Bose-Enistein statistics
c) If the particles match Fermi-Dirac statistics
In: Physics
The Magazine Mass Marketing Company has received 18 entries in its latest sweepstakes. They know that the probability of receiving a magazine subscription order with an entry form is 0.3. What is the probability that more than 3 of the entry forms will include an order? Round your answer to four decimal places.
In: Statistics and Probability
If a continuous random process has a probability density function f(x) = a + bx, for 0 < x < 5, where a and b are constants, and P(X > 3) = 0.3 Determine:
In: Statistics and Probability
Joe can choose to take the freeway or not for going to work.
There is a 0.4 chance for him to take the freeway. If he chooses freeway, Joe is late to work with probability 0.3; if he avoids the freeway, he is late
with probability 0.1
Given that Joe was early, what is the probability that he took freeway?
In: Math
Use exponential smoothing with trend adjustment. Consider T1 = 2, F1 = 12, α alpha = 0.2 , delta = 0.3
PART (A) What is your forecast for period 3?
Part (B) What is the related MAD for your forecast?
| Month | Actual Demand |
| 1 | 15 |
| 2 | 25 |
In: Operations Management