Sign In
Not register? Register Now!
Essay Available:
Pages:
3 pages/≈825 words
Sources:
No Sources
Level:
APA
Subject:
Mathematics & Economics
Type:
Math Problem
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 14.58
Topic:

Variance Problems: Total Cost Incurred by Organizations (Math Problem Sample)

Instructions:

Variance Problems:
1. Last year the price for thermometer covers in a pediatrician’s office was $.05 each. This year, the covers cost $.06 each. If the office purchased 10,000 thermometer covers this year, what is the price variance? Is it favorable or unfavorable?
Price variance = (Present price – Old price) × Present quantity = _____________________ F or U ? 
2. Management has studied work patterns in the housekeeping department and estimates the number of hours to be worked as follows. Hours worked = (1,500 hours per month) + (0.50 × RVUs). For the coming month, management expects RVUs to be 5,800. What should budgeted labor for the month be?
Flexible Budget = Hours worked + (0.5 X RVUs) = ________________ Hours
3. Efficiency cost is a term that involves:
A. The amount of time that a problem goes uncorrected
B. Cost per unit of time
C. Probability the problem occurrence is correctable
D. All of the above.

source..
Content:

Variance Problems
Name
Course
Instructor
Date
1] Last year the price for thermometer covers in a pediatrician’s office was $.05 each. This year, the covers cost $.06 each. If the office purchased 10,000 thermometer covers this year, what is the price variance? Is it favorable or unfavorable?
Price variance = (Present price – Old price) × Present quantity = _ (0.06-0.05)*10,000= 100______U______________ F or U? This is an unfavorable variance since the pediatrician’s office had initially budgeted using the old price of $.05 that then increased by $.01.
2] Management has studied work patterns in the housekeeping department and estimates the number...
Get the Whole Paper!
Not exactly what you need?
Do you need a custom essay? Order right now:

Other Topics:

  • Finance Paper on Dealer Discount With Bank Financing
    Description: The sales price depends on the money saved compared to the manufacturer's suggested retail price (MSRP) going up to $ 32790 for the Jeep Grand Cherokee...
    4 pages/≈1100 words | 6 Sources | APA | Mathematics & Economics | Math Problem |
  • Finance 2
    Description: Finance Mathematics and Economics Math Problem Undergraduate level...
    4 pages/≈1100 words | 1 Source | APA | Mathematics & Economics | Math Problem |
  • Module 2 Assignment: Background Measures of Central Tendency
    Description: A measure of central tendency is considered to be a value that provides a description of a given set of data by showing a central position in the given data...
    10 pages/≈2750 words | 3 Sources | APA | Mathematics & Economics | Math Problem |
Need a Plagiarism Free Essay?
Submit your instructions!