Newton Company's Management Accountant Prepared the Following Variance Report for Management

question 110

Essay

Newton Company's management accountant prepared the following variance report for management:
Required
1)Identify which manager (if any)would likely be held responsible (at least prior to further investigation)for each of the following variances:
(a)Direct material price variance
(b)Direct materials usage variance
(c)Direct labor price variance
(d)Direct labor usage variance
(e)Fixed cost spending variance
(f)Fixed cost volume variance
2)Provide at least two possible explanations for each of the following variances: the direct materials price variance and the direct labor usage variance.

Comprehend the significance of cooperation and superordinate goals in reducing intergroup conflict.

Understand the foundational principles of various therapeutic approaches including psychoanalysis, humanistic, cognitive, and behavior therapy.

Recognize the contributions of key figures in the field of psychology to therapeutic methods.

Identify and describe specific techniques used in psychotherapy, such as free association, dream analysis, and the therapeutic use of unconditional positive regard.

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Definitions:

Interest Rate

The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the principal.

Economic Equivalent

A financial concept that refers to the equivalence in value between different sums of money received or paid at different times, based on a specified interest rate.

Previous March

Refers to March of the preceding year or the last March that occurred before the current date.

Original Investment

The initial amount of money invested in a financial venture or asset.