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In determining the best companies to work for, a number of variables are considered, including size, average annual pay, and turnover rate, etc. Moreover, employee surveys are conducted in order to assess aspects of the organization's culture, such as trust and openness to change. In an attempt to determine what affects turnover rate, a sample of 33 companies was randomly selected and data collected on the average annual bonus and turnover rate (%) for 2015. In addition, a questionnaire was administered to the employees of each company to arrive at a trust index (measured on a scale of 0-100) . Below are the multiple regression results.
-At α = 0.01, we can conclude that
Budget Variances
The difference between budgeted and actual figures for revenues or expenditures, indicating under or overspending.
Underapplied
A situation where the allocated manufacturing overhead costs are less than the actual overhead costs incurred, leading to underestimation of product costs.
Overapplied
A condition where the allocated amount of indirect costs exceeds the actual amount incurred.
Variable Overhead Efficiency
The variance indicating the efficiency with which a variable overhead cost is incurred in relation to an activity level, such as machine or labor hours.
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