I would say these two examples show a type of performance evaluation ie analyzing what was successful and why or alternatively what was not successful and why so as to learn from the experience to continue to perform well in the future or to change poor performance to good performance.
Answer:
the labor rate variance is $16,000 unfavorable
Explanation:
The computation of the labor rate variance is shown below:
As we know that
Labour Rate Variance = ( Actual Rate - Standard Rate) ×Actual Hours Worked
= ($160,000 ÷ 22,000 direct labor hours - $8) × 22000 direct labor hours
= ($7.27 - $8) × 22000 direct labor hours
= $16,000 Unfavorable
hence, the labor rate variance is $16,000 unfavorable
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Answer:
Explanation:
Mean is given as $ 100.602
every observation in the dataset is multiplied by 1.578
= 100.602 × 1.578
= 158.75
Answer: Option(a) is correct.
Explanation:
Correct Option : Marginal cost curve above average variable cost for a typical firm in the market.
In a market of perfect competition, the shutdown price of the firms will be minimum point of average variable cost. So, there is supply of goods by the firms if the price is equal or above the shutdown point of the firm.
Therefore, the supply curve of the firm is the above part of the MC curve from the minimum point of average variable cost.
Answer: Strategic Analysis.
Explanation: Strategic analysis is the process that firms use to study and understand the many different aspects of their competitive environment. This analysis involves the process that focus on researching an organization’s business environment within which it operates. It is an essential tool in formulating strategic planning for decision making and smooth working of the business organization.
Strategic analysis refers to the process of conducting research on a company and its operating environment within which its operates to formulate a strategy. Strategic analysis helps define a strategy that will help stand out from the competitors and to also remain competitive. Another important function of strategic analysis is the prediction of future events and the planning of an alternative approach if the first fail to deliver.