Maurice Tutor

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About Maurice Tutor

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Expertise:
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Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 398 Weeks Ago, 5 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 06 May 2018 My Price 6.00

Münzel GmbH

F l e xib l e budget p r epa r ation, servi c e secto r .

Münzel GmbH helps prospective homeowners of substantial means to find low-cost financ- ing and assists existing homeowners in refinancing their current loans at lower interest rates. Münzel works only for customers with excellent borrowing potential. Hence, Münzel is able to obtain a loan for every customer with whom it decides to work.

Münzel charges clients 0.5% of the loan amount it arranges. In 2005, the average loan amount per customer was €199 000. In 2006, the average loan amount was €200 210. In its

2007 flexible budgeting system, Münzel assumes the average loan amount will be €200 000. Budgeted cost data per loan application for 2007 are:

● Professional labour: 6 budgeted hours at a budgeted rate of €40 per hour

● Loan filing fees: budgeted at €100 per loan application

● Credit checks: budgeted at €120 per loan application

● Courier mailings: budgeted at €50 per loan application.

Office support (the costs of leases, secretarial workers and others) is budgeted to be €31 000 per month. Münzel GmbH views this amount as a fixed cost.

Required

1 Prepare a static budget for November 2007 assuming 90 loan applications.

2 Actual loan applications in November 2007 were 120. Other actual data for November

2007 were:

● Professional labour: 7.2 hours per loan application at €42 per hour

● Loan filing fees: €100 per loan application

● Credit checks: €125 per loan application

● Courier mailings: €54 per loan application.

Office support costs for November 2007 were €33 500. The average loan amount for

November 2007 was €224 000. Münzel received its 0.5% fee on all loans. Prepare a Level

2 variance analysis of Münzel GmbH for November 2007. Münzel’s output measure in its flexible budgeting system is the number of loan applications.

3 Calculate professional labour price and efficiency variances for November 2007. (Calculate labour price on a per-hour basis.)

4 What factors would you consider in evaluating the effectiveness of professional labour in November 2007?

Answers

Maurice Tutor
(5)
Status NEW Posted 06 May 2018 07:05 PM My Price 6.00

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