(Answered) What is the amount of variance that is attributed to the

Finance

What is the amount of variance that is attributed to the change in labor productivity? Use the following data to calculate the variances.

The following information has been prepared for a home health agency.

Budget Actual

Wage Rate per Hour $16.00 $17.00

Fixed Hours 320 320

Variable Hours per Relative Value Unit 1.0 1.1

Relative Value Units (RVUs) 1,000 1,200

Total Labor Hours 1,320 1,640

Labor Costs $21,120 $27,880

Cost per RVU $21.12 $23.23

Budgeted costs at actual volume would be $25,344 ($21.12 × 1,200), and the total variance to be explained is $2,536 Unfavorable ($27,880 - $25,344). Be sure to specify whether the variance is favorable or unfavorable.

View complete question

Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M92321793
Price:- $10

Verified Expert

Priced at $20 Now at $10, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Basic Finance

Briefly summarize the partnership business structure and

Briefly summarize the partnership business structure and the equity rights partners have, both in the context of managerial rights and ownership.

Please show formula and explanationyou have decided to

Please show formula and explanation You have decided to place $553 in equal deposits every month at the beginning of the month into a savings account earning 10.62 percent per year, compounded monthly for the next 13 yea ...

Find the present value of this bond assume annual yield of

Find the present value of this bond. Assume annual yield of maturity is 4% and its Semiannual payments. When the Face value (FV) = $, 5000, coupon Payment (CPN) + 181.25, remaining payments (N) = 10.

Question - bad boys inc is evaluating its cost of capital

Question - Bad Boys, Inc. is evaluating its cost of capital. Under consultation, Bad Boys, Inc. expects to issue new debt at par with a coupon rate of 8% and to issue new preferred stock with a $2.50 per share dividend a ...

Skyline corp will invest 270000 in a project that will not

Skyline Corp. will invest $270,000 in a project that will not begin to produce returns until the end of the 3rd year. From the end of the 3rd year until the end of the 12th year (10 periods), the annual cash flow will be ...

Describe a bank accepted bill and explain the role of the

Describe a bank accepted bill, and explain the role of the acceptor, payee, drawer and discounter, in the context of bank accepted bills.

What would be examples of valid selection methods used by

What would be examples of valid selection methods used by the human resource department to ensure selecting the appropriate candidate for a job.

Leo received 7500 today and will receive another 5000 two

Leo received $7,500 today and will receive another $5,000 two years from today. He will invest these funds when he receives them and expects to earn a rate of return of 11.5 percent. What value does he expect his investm ...

Consider three investors who need to partially liquidate

Consider three investors who need to partially liquidate investments to raise cash. In this case, all investments have been held for 3 or more years. Investor A waited for a $1,500 qualified dividend distribution from he ...

An investor would like to add the following bond to her

An investor would like to add the following bond to her portfolio. The bond would be held for 7 years and then sold. The investor has gathered the following information to analyze the bond: Company XYZ Currency: CAD Face ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Basic Finance Expert