Suppose you manage the local scoopy's ice cream parlor. in addition to selling ice-cream cones, you make large batches of a few flavors of milk shakes to sell throughout the day. your parlor is chosen to test the company's made-for-you system. this new system enables patrons to customize their milk shakes by choosing different flavors.

customers like the new system and your staff appeal to be adapting, by you wonder whether this new made to order system is as efficient as the old system in which you made a few large batches. efficiency is special concern because your performance is evaluated in part on the restaurants efficient use of materials and labor. your superiors consider efficiency variances greater than 5% to be unacceptable.

you decide to look at your sales for a typical day. you find that the parlor used 390 pounds of ice cream and 72 hours of direct labor to produce and sell 2,000 shakes. the standard quantity allowed for the shake is 0.2 pound of ice cream and 0.03 hour of direct labor. the standard costs are $1.50 per pound for ice cream and $8 per hour for labor.

requirements:

1) compute the efficiency variances for direct labor and direct materials.
2) provide likely explanations for the variances. do you have a reason to be concerned about your performance evaluation? explain.
3) create a memo to scoopys national office explaining your concern and suggesting a remedy.

James has set the goal of achieving all "a"s during this year of school.which term best describes this goal

Pettijohn inc. the balance sheet and income statement shown below are for pettijohn inc. note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over. balance sheet (millions of $) assets 2016 cash and securities $ 1,554.0 accounts receivable 9,660.0 inventories 13,440.0 total current assets $24,654.0 net plant and equipment 17,346.0 total assets $42,000.0 liabilities and equity accounts payable $ 7,980.0 notes payable 5,880.0 accruals 4,620.0 total current liabilities $18,480.0 long-term bonds 10,920.0 total debt $29,400.0 common stock 3,360.0 retained earnings 9,240.0 total common equity $12,600.0 total liabilities and equity $42,000.0 income statement (millions of $) 2016 net sales $58,800.0 operating costs except depr'n $54,978.0 depreciation $ 1,029.0 earnings bef int and taxes (ebit) $ 2,793.0 less interest 1,050.0 earnings before taxes (ebt) $ 1,743.0 taxes $ 610.1 net income $ 1,133.0 other data: shares outstanding (millions) 175.00 common dividends $ 509.83 int rate on notes payable 1. what is the firm's current ratio? (points : 6) 0.97 1.08 1.20 1.33 2. what is the firm's quick ratio? (points : 6) 0.49 0.61 0.73 0.87 3. what is the firm's total assets turnover? (points : 6) 0.90 1.12 1.40 1.68 4. what is the firm's inventory turnover ratio? (points : 6) 4.38 4.59 4.82 5.06 5. what is the firm's debt ratio? (points : 6) 45.93% 51.03% 56.70% 70.00% 6. what is the firm's roa? (points : 6) 2.70% 2.97% 3.26% 3.59% 7. what is the firm's roe? (points : 6) 8.54% 8.99% 9.44% 9.91%

Southeastern oklahoma state university's business program has the facilities and faculty to handle an enrollment of 2,000 new students per semester. however, in an effort to limit class sizes to a "reasonable" level (under 200 generally), southeastern's dean, holly lutze, placed a ceiling on enrollment of 1,600 new students. although there was ample demand for business courses last semester, conflicting schedules allowed only 1,440 new students to take business courses.the utilization rate for southeastern=%the efficiency rate for southeastern=%