It is important to understand that good entrepreneurs must be good judges.
What are the qualities of Good Entrepreneurs?Self-MotivationSelf-motivation is one of the most crucial characteristics of entrepreneurs. You must be able to push yourself if you want to achieve.
Take ChancesSuccessful businesses understand that it is sometimes necessary to take risks. As a business owner, playing it safe nearly never leads to success.
Understanding How to NetworkNetworking is a key aspect of entrepreneurship. Success is sometimes determined by who you know.
Basic Financial Management Knowledge and SkillsWe typically conceive of successful entrepreneurs as "big picture" thinkers who don't sweat the small stuff.
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Can the costs be decreased? How can value be added? Please complete the analysis for each item
In order to decrease the cost of production, the company can engage in better training of staff and offering incentives to staff.
How can production costs be reduced?The question is not complete so I will explain a bit on how to cut costs in a business.
One way to cut costs is to train the staff that produce goods and services better. They should be given knowledge on how to use resources efficiently and this would reduce wastage.
Staff can also be offered incentives for producing more goods and services with less resources which would reduce costs.
Reducing costs on its own adds value to a product because people would then be getting the same product, but for a cheaper price.
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please answer it fast its urgent and i want a long answer
recommend and justify a suitable form of business organisation to owners/management in a given situation
Answer:
Partnership
A partnership is a straightforward business organization type to create. It requires an agreement that may be verbal or written.
In a partnership, the owners manage and control the business, and all revenue from it flows directly through the business to the partners, who are then taxed based on their portions of the income.
1
The partners are personally liable for all debts and any liabilities that result from the operation of the business.
2
The sole proprietorship and the partnership are the most straightforward business organization types.
When one partner leaves the business, it is dissolved unless there is an agreement in place that allows it to continue.
2
A business continuation agreement typically stipulates the terms under which a partner can transfer a share of the business for some financial consideration.
The same agreement should provide for the transfer of a deceased partner's share so that the surviving family members receive fair compensation from the remaining partners.
2
Limited Liability Company (LLC)
The creation of a limited liability company (LLC) requires an operating agreement and a state filing of articles of organization.
3
Like the principals in a partnership, the owners of an LLC have direct management control over the company, and the company is required to file an information return to the IRS. The owners file their own individual returns based on the revenue that flows to them directly through the business. The information return shows how much revenue was paid to each partner.
3
The primary difference between a partnership and an LLC is that the latter is designed to separate the business assets of the company from the personal assets of the owners. That insulates the owners from personal responsibility for the debts and liabilities of the company.
2
3
In terms of the sale or transfer of the business, a business continuation agreement is needed to ensure the smooth transfer of interests when one of the owners leaves or dies.
C Corporation and S Corporation
There are two types of corporation, the S corporation and the C corporation. Both are legal entities that are formalized with the filing of articles of incorporation with the state.
The primary difference between the two is in their tax structures:
The C corporation is a tax entity in and of itself, so it files a tax return and is taxed based on the revenues of the business. Double taxation could occur when the shareholders or owners file individual returns based on any income they receive in the form of dividends from the corporation.
4
An S corporation is similar to a partnership and LLC in that it files an informational return. However, the revenue flows directly to the shareholder owners, who then file individual returns.
5
In most other aspects, the two business structures are the same. In both cases, the business is controlled by a board of directors which is answerable to the shareholders. The board hires the senior management team. Business assets and liabilities belong to the company, and the sale or transfer of interests can be achieved by the sale of shares.
Ultimately the type of business organization selected comes down to the owners' level of concern over management control, liability exposure, tax issues, and business transfer issues.
Because of the tax and legal implications involved, the guidance of a qualified tax attorney is essential in selecting the most suitable form of ownership.
17. Real is your boss and the treasurer of Free Cash Flow (FCF). She asked you to help her estimate the intrinsic value of the company's stock. FCF just paid a dividend of GHS 1.00, and the stock now sells for GHS 15.00 per share. Real asked a number of security analysts what they believe FCF's future dividends will be, based on their analysis of the company. The consensus is that the dividend will be increased by 10% during Years 1 to 3, and it will be increased at a rate of 5% per year in Year 4 and thereafter. Real asked you to use that information to estimate the required rate of return on the stock
The required rate of return is 12.97%
What is the required rate of return?
The required rate of return is the rate of return that investors expect from the stock based on its current price GHS 15.00 per share and its forecast dividends.
The stock price is the present value of future dividends discounted at the required rate of return, the unknown
The dividends for the next 3 years would grow at the rate of 10%
Year 1 dividend=1.00*(1+10%)
Year 1 dividend=1.10
Year 2 dividend=1.10*(1+10%)
Year 2 dividend=1.21
Year 3 dividend=1.21*(1+10%)
Year 3 dividend=1.331
Dividend in year 4 and thereafter(forever, that the terminal value) would grow at the rate of 5%
Year 4 dividend=1.331*(1+5%)
Year 4 dividend=1.39755
Terminal value=Year 4 dividend*(1+g)/(r-g)
g=terminal growth rate=5%
r=unknown return
terminal value=1.39755*(1+5%)/(r-g)
share price=1.10/(1+r)^1+1.21/(1+r)^2+1.331/(1+r)^3+1.39755/(1+r)^4+1.39755*(1+5%)/(r-g)/(1+r)^4
we need the value of r such that share price 15.00
Using a trial and error approach, I got 12.97%
share price=1.10/(1+12.97%)^1+1.21/(1+12.97%)^2+1.331/(1+12.97%)^3+1.39755/(1+12.97%)^4+1.39755*(1+5%)/(r-12.97%)/(1+12.97%)^4
share price=15.01
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Troubleshooting examples interview
The ability to adopt a methodical approach towards identifying and then solving a problem or issue at hand is referred to as one's troubleshooting skills. In simple words, troubleshooting skills are the problem solving capabilities of a person.
What is problem-solving illustrate with an example?
Problem solving is the act of determining a problem; determining the cause of the problem; determining, prioritizing, and selecting alternatives for a solution; and executing a solution. The problem-solving process.
How do you answer problem-solving talents in an interview?Analyze the elements that generated the problem.
Brainstorm potential solutions.Evaluate the cost and possible viability of these explanations.Execute a plan.Evaluate the usefulness of your intervention.To learn more about Problem solving, refer
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Identify a product you use every day. Assume you are the marketer of the product and want to convey the ways your product differs from competing products in the marketplace. Create a differentiation strategy to promote your product and create a competitive advantage
Answer:
A product is Burts Bees chapstick. If I were the marketer oof this product, I would differentiate the product from the competition in the following ways:
-The chapstick actually restores moisture in the lips
-The ingredients are naturally sourced with non-toxic ingredients (Unlike Blistex that contains phenol that is harmful to the nervous system)
-Burt's Bees chapstick is free from sulfates and parabens
- Unlike other chapsticks, you do not have to constantly reapply
Explanation:
This is like a really rough draft, but you get the idea,
two firms intel and AMD in the CPU market have combined demand given Q = 100-2P. Their total costs are given by TC Intel = 2 Q Intel + Q2 Intel and TC AMD = 2 Q AMD + Q2 AMD. If they cannot successfully collude and instead produce where the market price equals marginal cost, the market price will be
If they cannot successfully collude and instead produce where the market price equals marginal cost, the market price will be higher.
More about market price:
The market price is the price at which a good or service is currently being bought or sold. The dynamics of supply and demand have an impact on a good or service's market pricing. The cost at which the amount supplied and the quantity wanted are equal is known as the market price..
The market price is used to calculate consumer and economic surplus. The difference between the highest price a consumer is prepared to pay and the actual price they pay for the good is known as customer surplus, often referred to as the market price.
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What measures you could have taken to prevent delays in a project?
Answer:
.proper planing
.strict rules
.pre planning for a program
.problem solving skills
the u.s. department of justice is the best source of information regarding both general and technical questions about the individuals with disabilities education act (idea). true or false
True; the U.S. department of justice has information regarding both general and technical questions related to the individuals with disabilities education act.
More about Disabilities Education Act (idea):
American law known as the Individuals with Disabilities Education Act (IDEA) guarantees that students with disabilities get a Free Appropriate Public Education (FAPE) that is catered to their unique needs.
From 1975 through 1990, IDEA was known as the Education for All Handicapped Children Act (EHA). The EHA was renewed by the US Congress in 1990, and the name was changed to IDEA.IDEA's overarching objective is to give children with disabilities the same educational opportunities as students without impairments.
IDEA is actually made up of six key components that highlight its key ideas. The Individualized Education Program (IEP), Free and Appropriate Public Education (FAPE), Least Restrictive Environment (LRE), Appropriate Evaluation, Parent and Teacher Participation, and Procedural Safeguards are the six components mentioned above.
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NOVO FINANCE ECONOMICS AND ACCOUNT
243 Sub-task 3: Economic environment (Total: 30 marks: 180 minutes)
The Book Store is a business which sells a variety of books to suit any lifestyle, from
bestselling novels, educational material to children's books
The owner, Wendy Brocks, has realised that there is a demand for creative stationery
based on her customers' requests. She decided to expand her business by producing a
stationery-line including creative paper, envelopes, notepads, creative stamps, craft pens
and wrapping paper which she will sell in
store.
Wendy is considering using semi-finished products to produce the stationery and wants to
loan in order to gain the capital for the expansion of The Book Store. Wendy knows that
import the creative stamps and craft pens from China. Wendy plans to apply for a business
she has to conduct thorough research before starting this new venture.
The student is required to assist Wendy by conducting the research and preparing an
investigative report on the following points:
a) The four factors of production (inputs) needed for the manufacturing process of The
Book Store's new stationery-line. The student is required to investigate two inputs for
each factor of production.
b) Include a drawing of the production process of this new venture.
c) Research the infrastructure needed to manufacture the stationery-line.
d) Propose ideas on how to produce the creative stationery in an environmentally friendly
way to prevent deforestation.
e) Assuming the inflation-rate rises, give one implication that this increased inflation rate.
would have on the import cost of creative stamps and craft pens from China.
Find out the current interest rate as Wendy is considering applying for a loan. The date
the interest rate obtained must be given.
9) The investigation should be concluded by providing an opinion as to whether this
business idea is viable or not and provide three reasons to substantiate the answer.
The four factors of production (inputs) needed for the manufacturing process of The Book Store's new stationery include land, labor, capital and entrepreneur.
How to illustrate the information?Based on the information given, the production process of this new venture will be the input or resources that will be used for the production process.
The infrastructure needed to manufacture the stationery-line will be capital, and portfolio designs as well as printing machines.
The ideas on how to produce the creative stationery in an environmentally friendly.way to prevent deforestation is to use less paper and recycling.
An implication of this increased inflation rate is that it lead to the increase in production cost.
Lastly, the business is viable as there is a demand for creative stationery based on her customers' requests.
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The following standards for variable manufacturing overhead have been established for a company that makes only one product:
Standard hours per unit of output 8.6 hours
Standard variable overhead rate $ 15.00 per hour
The following data pertain to operations for the last month:
Actual hours 2,925 hours
Actual total variable manufacturing overhead cost $ 44,635
Actual output 200 units
What is the variable overhead efficiency variance for the month?
The following standards for variable manufacturing overhead have been established for a company that makes only one product:
((200*8.6)- 2925)*15 = 18,075
The term "variable overhead efficiency variance" refers to both the impact of the discrepancy between the actual manufacturing time and the projected manufacturing time. Variations in productive efficiency are the cause of it.
The difference between the actual manufacturing costs of a product and the costs that the business entity budgeted for it is measured by the variable overhead efficiency variance. It may therefore result from a disparity in productive efficiency.
Variable overhead efficiency variance = ((Actual output * Standard hours per unit of output) - Actual hours) * Standard variable overhead rate.
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A visual representation of the demand schedule, a demand ________ shows the progression of quantity demanded of a good or service and the price of that good or service.
Answer:
scheduleExplanation:
,
,,
,,,
,,,,
,,,,,
what describes the law of diminishing marginal utility
Answer:
The law of diminishing marginal utility says that the marginal utility from each additional unit declines as consumption increases. 1. The marginal utility can decline into negative utility, as it may become entirely unfavorable to consume another unit of any product.
Can I be a Worker and Employer at the same time?
Answer:
on you can't be .
Explanation:
if you are working as a worker it is obvious that a worker cannot be an employer because he is working under
employer. employer has a higher rank than the worker.
How are extended-stay hotels different from Bed and Breakfasts?
The difference between hotel and bed and breakfast is that Hotels are usually chains that are owned by larger conglomerations; B&Bs are usually independently owned
This is further explained below.
What are Bed and Breakfasts?Generally, beds & breakfasts, which are often located in quaint, historic homes, are designed to give visitors the impression that they are really staying in someone's home while they are there. A stay at a bed and breakfast can be exactly the thing for you if you're the sort of traveler who likes meeting new people no matter where they are or what they're doing while they're away.
In conclusion, The distinction between a bed and breakfast and a hotel lies in the fact that hotels are often owned by bigger conglomerates and operate as chains, while B&Bs are typically privately run and operated.
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Political forces that affect transportation businesses
It is important to note that politics and the economy have effects on the transportation industry, as the industry is ever changing with new policies, regulations, or capacity issues.
Politicians and the policies they create dictate the US economy, effecting all industries. It is seen that the transportation industry saw effects because of the trade and tariff wars. The overall regulations depend largely on the economic and political outlook of the party in power.
For instance, a government that is inclined to pursue neo-liberal policies, could pass more legislations favoring industries and big businesses, while a government inspired by socialism could push policies favoring small businesses.
Hence, the answer was given and explained above.
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Employees who record and are paid for the exact amount or time spent working are paid on
Employees who record and are paid for the exact amount or time spent working are paid on hourly basis.
When an employee is paid on an hourly basis, they receive a variable salary because their pay is based on how many hours they put in at work. This means that these workers are paid solely in accordance with the number of hours they put in.
In contrast to hourly workers, salaried employees receive a set paycheck every pay period. Hourly workers receive a set wage for each hour they put in during the pay period, plus overtime if they put in more than 40 hours each week. Employees in sales and marketing often receive commissions as an additional source of income, while others earn a flat rate per sale.
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As a student in class, what rewards do you receive in exchange for your time and effort?
As a student who has invested more time and effort in my studies to excel a receive good grades, bragging rights as the best in a subject, and a prize/scholarship.
What is Academic Excellence?Academic excellence can be defined as performing exceptionally well in all subjects, students who attain this foot are known to put a lot of effort into their education by burning late-night candles.
A notable rewards student often get for Academic Excellence is a scholarship
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Robyn owns a music production company Gala Music (Pty) Ltd (“Gala”). The primary function of a music production company is to locate artists and facilitate the recording, manufacturing, and distribution of musical products. Gala entered into an agreement with Buntu Events (Pty) Ltd (“Buntu”). Buntu is a full-service event planning company that provides complete planning, consulting, and supervision for both corporate and social events. In this agreement, Gala will provide performing artists for Buntu’s Durban July party on 2 July 2022, and in exchange Buntu will waive the performers' registration fee of R28 750 (VAT inclusive).
Gala charges R11 500 (VAT inclusive) booking fees (not registration fee) for its artists per event. Gala will provide three performing artists for Buntu’s Durban July party on 2 July 2022. Both companies have 30 June year ends and both are registered vendors in terms of the Value-Added Tax Act, 1991 (Act 89 of 1991), as amended.
With reference to the paragraph “Dr Robyn Miekle”, discuss in terms of the Value-Added Tax Act, 1991 (Act 89 of 1991) and applicable case law, if any, the output tax consequences for Gala Music (Pty) Ltd of entering into the agreement with Buntu Events (Pty) Ltd for the year ended 30 June 2023. For this question, assume that Gala Music (Pty) Ltd had not received nor issued a valid tax invoice.
The will be no output tax consequences for Gala Music (Pty) Ltd for entering into the agreement with Buntu Events (Pty) Ltd for the year ended 30 June 2023 under the Value-Added Tax Act 1991.
What was the Value-Added Tax Act 1991?It was a federal legislation that impose and charge Value Added Tax on certain goods and services and to provide for the administration of the tax and matters.
The Value-Added Tax Section 89 of 1991 Act does the follwing:
provide for taxation in respect of the supply of goods and services and the importation of goodsamend the Transfer Duty Act, 1949amend the Stamp Duties Act, 1968repeal the Sales Tax Act, 1978.Because the Value-Added Tax have been abandoned for a long time in the country, there will be no output tax consequences for Gala Music (Pty) Ltd for entering into the agreement with Buntu Events (Pty) Ltd for the year ended 30 June 2023 under the Value-Added Tax Act 1991.
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There was a traffic accident on your usual route to work this morning, so you decide to get off the freeway and drive the rest of the way on the frontage road.
a. Programmed
b. Nonprogrammed
Answer:
b. non programmed
Explanation:
you made a decision to take another route that was better for your drive.
A successful organization can involve its employees in the control system in all of the following ways EXCEPT
D) regulating its behavior; involving employees in the control system is good for an organization but except in regulating its behavior.
More about Organizational Control System:
Organizational control system is crucial to understanding how the organization is doing, spotting problem areas, and then taking the necessary action.
There are three basic types of control systems available to executives:
Output control : The focus of output control is on quantifiable results for the organization. In output control, executives must choose the acceptable performance threshold, inform staff members of the general expectations, monitor whether performance metrics are in line with targets, and make any necessary adjustments.
Behavioral control: In contrast to output control, which focuses on results, behavioral control typically focuses on controlling the activities. Particularly, special procedures and regulations are utilized to shape or impose behavior.
Clan control: Clan control is a non-standardized type of control. It depends on shared traditions, expectations, values, and norms.
Complete Question:
A successful organization can involve its employees in the control system in all of the following ways EXCEPT
A) setting realistic performance results.
B) emphasizing development and improvement.
C) encouraging good communication and mutual participation.
D) regulating its behavior.
E) presenting data in understandable terms.
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his decision will depend on whether or not Howie needs immediate money and the rate of inflation. Assuming there is no inflation, as the issue did not mention it, and Howie prefers the decision that yields the greatest financial reward, simply calculate and lower the tax in each situation, and then compare them.
Scenario 1: Total receipt upon ticket delivery with 46% deduction
46% = 46 \ 100 = 0.46
To find the value to be deducted, let's multiply the total by 0.46
500,000 * 0.46 = $ 230,000
That way Howie would get $ 500,000- $ 230000 = $ 270,000
Scenario 2: 25 installments of $ 36,000 with 25% deduction
The gross total will be 25x $ 36,000 = $ 900,000
Now it is enough to decrease 25% of the total amount, to find the amount of the tax.
25% = 25 \ 100 = 0.25
$ 900,000 * 0.25 = $ 225,000
Finally, simply decrease the amount received by the tax amount:
$ 900,000- $ 225,000 = $ 675,000
Therefore, Howie would be better off if he opted for the installment payment.
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New questions in Business
At which stage would you conduct a SWOT analyses to understand the market and the strength of your product? A. screening and evaluation stage B. ide…ation stage C. new product development stage D. commercialization stage
Please help
The more ________ used, the greater the leverage a company employs on behalf of its owners.
The more debt used, the greater the leverage a company employs on behalf of its owners.
What is financial leverage?
Financial leverage is the use of borrowed money (debt) to finance the purchase of assets with the expectation that the income or capital gain from the new asset will exceed the cost of borrowing.
What is financial leverage example?
Example of financial leverage usage include using debt to buy a house, borrowing money from the bank to start a store and bonds issued by companies.
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Mr. Edwards, a marketing representative of the ACME Insurance Company, scheduled a marketing event and expects about 40 people to attend. He has hired a magician for $200 to entertain attendees. Can he do this in a way that complies with guidance from the Medicare agency?
Yes, he can do this in a way that complies with guidance from the Medicare agency, because the estimated number of attendees is based on the venue size and response rate and the value of the gift does not exceed.
What is marketing?Marketing can be defined as the process of creating product or brans awareness so as to attract potential customers which inturn can help to increase a company sales.
Based on the given scenario he can do this in a way that complies with guidance from the Medicare agency, based on the fact that the total number of attendees is based on how large or how small the venue is and response rate as well as the value of the gift does not exceed.
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Drag each tile to the correct location.
Match each situation with the agency it involves.
National Highway Traffic
Safety Administration
Food and Drug Administration
Situation
A new miracle pill claims to boost
memory and cognitive skills among
adults.
Each seat in Ryan's new car has a
three-point seat belt.
Carrie's radio show was suspended
after she uttered a profane word on air.
Reset
Next
Federal Communications
Commission
Agency
how does the use of body language and visual features can enhance a speech for an audience
Answer:
kaptaht is taht which 8a
o Assume the role as the Public Relations Director for Purple Cross of North Carolina. The CEO requests that you interview the Telehealth Director about the use of Telehealth with Mrs. Smith. The CEO requests that you create one thought-provoking question for each of the following topic areas: • Meeting the health needs of Mrs. Smith • Decision-making process for technology selected for Mrs. Smith • Benefits and risks in using Telehealth technology for Mrs. Smith • Cost and staff involved in using Telehealth technology for Mrs. Smith
The thought-provoking question for each of the following topic areas are:
Meeting the health needs of Mrs. Smith (How do ensure the healthiness of Mrs. Smith?)Decision-making process for technology selected for Mrs. Smith (What steps should out Decision-making process follow?).Benefits and risks in using Telehealth technology for Mrs. Smith (What risks and benefit are in the use of technology by Mrs. Smith?)Cost and staff involved in using Telehealth technology for Mrs. Smith (What are the cost for the technology?).Who is a Public Relations Director?
The PR director is the official that is responsible for managing the communications campaigns and strategy for their organisation or client
Some of the main role of the director is to create and maintain a favorable public image for their employer or client by communicating programs, accomplishments or points of view.
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is eskom's managers actively involved in the decisions of the business
It is a true statement that eskom's managers are actively involved in the decisions of the business.
What is a manager?This refers to the officials responsible for supervising and motivating employees as well as directing the progress of an organization.
The role of manager includes to perform functions such as like planning, organizing, staffing, directing, controlling etc.
Most of these functions are essential for running an organization smoothly and achieving enterprise objectives.
Therefore, It is a true statement that eskom's managers are actively involved in the decisions of the business because the basic functions pointed above are made by the managers to achieve organizational goals.
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You need to go on an emergency leave. Since you are working on a critical task, your manager
seeks your credentials to avoid impact of services to the client in your absence. What action
would be most appropriate to ensure security and continuity of services so that client deliverables
are not impa
Most appropriate to provide security and continuity of services so that client deliverables are not impacted is You will inform your manager that this will amount to violation. Alternatively, client approval can be received for creation of an alternate user ID with equal privileges for another team partner to ensure continuity of deliverables.
Who is a client in business?
A client of a professional person or institution is a person or company that acquires a service from them in return for payment.
What is a critical task?
Tasks that cannot be delayed without impacting the project finish date are the critical tasks. In a typical project, many tasks have some slack and can therefore be delayed a bit without delaying other tasks or concerning the project finish date.
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complete question is,
Oa. You will refuse to share the password and assure your manager that you can be reached over a call to obtain the credentials in case of any urgent deliverables
Ob. You will inform your manager that this will amount to violation. Alternatively, client approval can be obtained for creation of an alternate user ID with similar privileges for another team member to ensure continuity of deliverables.
Oc. You will not share your credentials with anyone under any circumstances even if it impacts the business. Od. Since this is required for client deliverables and is asked by your manager, you will share your
credentials with him
As she updates her accounting documents at the end of the accounting period, what kind of documentation does Jody need to make if she discovers an unrecorded receipt for the $275 purchase of a new window?
Accrued revenue
Supply expense
Adjusting entry
Owner withdrawal
The kind of documentation that Jody need to make if she discovers an unrecorded receipt for the $275 purchase of a new window is: C. Adjusting entry.
Adjusting entry is a journal entry that is use to record income and expenditure and this entry is updated at the end of the accounting period.
Adjusting entry is the type of documentation that Jody need to make if she discovers an unrecorded receipt for the $275 purchase of a new window.
Therefore the correct option is c. Adjusting entry.
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A manufacturing company that has only one product has established the following standards for its variable manufacturing overhead. The company bases its variable manufacturing overhead standards on direct labor-hours.
Standard hours per unit of output 5.20 DLHs
Standard variable overhead rate $ 11.65 per DLH
The following data pertain to operations for the last month:
Actual direct labor-hours 8,700 DLHs
Actual total variable manufacturing overhead cost $ 95,990
Actual output 1,600 units
What is the variable overhead efficiency variance for the month?
The variable overhead efficiency variance for the month is $4,427.
What is variable overhead efficiency variance?The variable overhead efficiency variance shows the difference between the actual and budgeted hours worked, multiplied by the standard variable overhead rate per hour.
The formula for computing the variable overhead efficiency variance is as follows:
Variable overhead efficiency variance = Standard overhead rate x (Actual hours - Standard hours)
Data and Calculations:Standard hours per unit of output = 5.20 DLHs
Standard variable overhead rate = $11.65 per DLH
Basis of variable manufacturing overhead = direct labor-hours
Actual direct labor-hours = 8,700 DLHs
The actual total variable manufacturing overhead cost = $95,990
Actual output = 1,600 units
Budgeted standard direct labor-hours = 8,320 DLHs (5.20 x 1,600)
Variable Overhead Efficiency Variance = Standard overhead rate x (Actual hours - Standard hours)
= $11.65 x (8,700 - 8,320)
= $4,427
Thus, the variable overhead efficiency variance for the month is $4,427.
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