A manager that views most employees as motivated to do work is operating under Theory Y, while a manager that views most employees as lazy, is operating under Theory X.
What is the meaning of Theory Y And theory X ?Both Theory Y And theory X can be described as the motivation theory that is been used in the organization to describe the way the employee do carry out their work in the organization, it should be noted that this theory serves as the theory that can be found under the motivation theory of management.
In conclusion, the theory Y can be described as the motivation theory that states that the employee will be self motivated which implies that as the employee is doing the work, the employee is enjoy the work as a result of this there is usually a high efficiency as well as high productivity in the work compare to theory X.
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a company purchased $3,800 of merchandise on july 5 with terms 1/10, n/30. on july 7, it returned $420 worth of merchandise. on july 8, it paid the full amount due. the amount of the cash paid on july 8 equals:
On July 5, a Company made a $3,800 purchase under the terms "1/10, n/30. It had $420 worth of goods returned on July 7. The entire sum was paid on July 8th. $3,346 is the total amount of the cash paid on July 8.
What transpires after an acquisition of a business?When one firm buys the majority or all of the shares of another to take over that company, the transaction is known as an acquisition. Buying more than 50% of the stock and other assets of the target company entitles the buyer to decide what to do with the newly acquired assets without seeking consent from the other shareholders.
How is the worth of the goods determined?What Constitutes Gross Merchandise Value? GMV is computed by dividing the total quantity of products sold within a specific time period by the price of those commodities. GMV is calculated as Sales Price x Number of Sold Goods.
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foreign direct investment group of answer choices is an entry-mode strategy. symbolizes the highest rate of internationalization. means that a multinational owns, in part or in whole, an operation in another country. all of the above
In the past, a company would make an investment in constructing or upgrading a factory in another nation through foreign direct investment.
The acquisition of a controlling interest in a business in a different market is now included in this definition.
What is the strategy for direct foreign investment?
A type of cross-border investment known as foreign direct investment (FDI) occurs when a resident investor in one economy acquires a significant amount of influence and a long-term interest in a business in another economy.
What factors determine direct foreign investment?
When a person or company owns 10% or more of a foreign business, that is considered foreign direct investment. The International Monetary Fund considers a holding of less than 10 percent to be part of an investor's stock portfolio.
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use the word bank below to fill in one (1) good food source for each of the following nutrients. words may be used more than once or not at all. points will be deducted for incorrect spelling or foods not from the word bank, so please double-check your answers shrimp margarine soybean oil butter pork corn oil salmon olive oil avocado coconut oil palm oil peanuts flaxseed oil shortening no food source a. saturated fat b. omega-6 fat c. monounsaturated fat d. triglyceride e. polyunsaturated fat f. linolenic fat
The multiple types of nutrition that both people and animals rely on to survive are known as food sources.
Animals and plants are the planet's primary sources of food and sustenance. All living things on earth primarily obtain their sustenance from plants and animals. Animal-derived foods, such as fish, milk, meat, chicken, and cheese, are the primary source of protein. Fruits and vegetables, which constitute a significant source of fibre, protein, and carbohydrates, are produced by plants for us.
The good food source for each of the following nutrients can be categorised as -
Saturated fat: coconut oil
Monounsaturated fat: avocado
Trans fat: margarine
Omega-3 fat: salmon
Saturated and trans fat: shortening
HDL: not found in food
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a market is said to be in equilibrium when group of answer choices demand is fully satisfied at all alternative prices. the buying intentions of all consumers are realized. the quantity demanded equals the quantity supplied. the supply intentions of all sellers are realized.
A market is said to be in equilibrium when group of the quantity demanded equals the quantity supplied.
Demand is the quantity of goods or services that consumers are willing and able to purchase at a given price over a given period of time. Quantity demanded is the number of goods or services that people buy at a particular price at a particular time.
Demand is the number of goods that people are willing to buy at a particular price at a particular time. Description: Different quantities can be requested at different prices at any given time.
Demand is the desire, willingness and ability of consumers to pay a specific price for a product or service within a specific period of time. Businesses can use it to determine the supply they need and set the price of the item.
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when a british bank accepts a deposit in pounds sterling, it must set aside a fraction of that money to be kept in an account at the bank of england. all industrialized countries operate with this type of blank requirement. multiple choice question. reserve income capital withholding
Reserve requirements withholding capital income reserve.
Capital is a very important thing in a company or business. Without capital, the business cannot move as it should. Capital is needed in various business scales, ranging from large-scale or small-scale businesses.
There are several types of capital separated by category, namely:
Types of Capital Based on Source, types of capital based on sources are divided into two, namely external capital and internal capitalTypes of Capital Based on the Owner, based on its function, capital is divided into two, namely social capital and individual capital.Types of Capital Based on Its Form, capital is also divided based on its form or form, namely abstract capital and concrete capital.Capital based on its nature, based on its nature, the type of capital is divided into two types, namely fixed capital and current capital.You can learn more about Capital here brainly.com/question/15141487
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the ownership of land include: (select all that apply) the ownership of land include: (select all that apply) mineral rights none of the options surface rights air rights
Once you close on the property, you become the owner and have the rights of possession, control, exclusion, enjoyment, and disposition.
Use rights and quiet pleasure Right to exclude others and to grant others a right to use (via licenses and leases). Right to dispose of or transfer ownership of the property to another party through gifting, inheritance, or sale.
How do we define ownership of land?Unless the lot or parcel has been sold under a real estate contract, the vendee or grantee shall be deemed to be the owner, the term "owner of land" means the record owner of at least a majority ownership interest in a separate and legally created lot or parcel of land, as determined by the records of the county auditor.Specifications of Ownership
Right to possess means the ability to keep what he possesses in his possession:use and enjoyment of:Right to consume, abridge, or abridge (liberties):Right to be perpetual and of indefinite duration:True right:Ownership is residual in nature:To learn more about ownership of land refer to:
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you short-sell 200 shares of tuckerton trading co., now selling for $50 per share. what is your maximum possible gain, ignoring transactions cost? $50 $150 $10,000 unlimited
Unlimited ,The price of the option should rise to cover the strike price in addition to the already-paid premium in order to reach a point where your loss is zero (breakeven).
What is maximum possible gain?
The price of the option should rise to cover the strike price in addition to the already-paid premium in order to reach a point where your loss is zero (breakeven). Given that there is no price increase cap, your potential profit as a call buyer is limitless.
Strike price less premium times 100 equals the maximum gain. Premium paid = maximum loss. Strike price less premium is breakeven.
The long put payoff diagram is simple to understand. The maximum risk is constrained to the option's purchase price. Up until the underlying asset approaches zero dollars, the profit potential is limitless. The stock price must be below the strike price by the cost of the long put option at expiration in order for the transaction to be profitable.
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a comparative balance sheet and income statement is shown for cruz, incorporated.what is the net increase or decrease in the cash account for year 2021?
A comparative balance sheet and income statement is shown for cruz, incorporated. The net increase or decrease in the cash account for year 2021 is $75,400.
What is cash ?Cash is legal tender (currency or coin) that can be used to exchange goods, liabilities, or services.balance sheet may also include the value of assets that can be easily converted into cash quickly, as reported by the company.In finance and accounting, cash refers to readily available money (currency). balance sheet can be held in physical or digital form, or invested in short-term money market instruments. In economics, cash refers only to money in physical form.Cash includes banknotes, coins, bank deposits, money orders and checks. Cash is used to purchase goods and services or to fulfill obligations. Items that do not meet the definition of cash are balance sheet checks and bills receivable.To learn more about cash from the given link :
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on january 15, nifty company sells merchandise on account to martinez associates for $5,000 with terms 3/10, n/30. on january 20, martinez returns merchandise worth $1,000 to nifty. on january 24, payment is received from martinez for the balance due. what is the amount of cash received assuming the discount is taken?
Nifty had received a $2,000 debt from Martinez. The $400 in goods was then returned to Nifty after 5 days. Martinez currently owes $1,600.
What is return?
The money gained or lost on an investment over time is referred to as a come back, also known as a financial return.
The nominal change in the dollar value of a investment placed above a white time can be used to express a return. The ratio of financial gain to investment can be used to calculate a return as a percentage. Returns can also be shown as net results (after costs, taxes, and inflation) or as gross returns, which only take the price change into account. Even a 401(k) investment is part of it. A exact meaning of return seems to be situational and dependent just on financial data input used to measure it, as prudent investors are aware.
When payment is made on the 24th, which falls within the 10-day discount period, Martinez is entitled to take 3% of the debt, which works out to $48 ($1,600 x 0.03).
Martinez pays $1,600 and receives $48 in cash, for a total of $1,552.
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you are considering the risk return profile of two mutual funds for investment. the relatively risky fund (fund a) promises an expected return of 8% with a standard deviation of 14%. the relatively less risky fund (fund b) promises an expected return and standard deviation of 4% and 5%, respectively. assume that the returns are approximately normally distributed. which mutual fund has a higher probability of earning a return above 8%? it is expected that you can answer this question without calculations using a picture only.
The relatively risky fund should be chosen.
In a set with mean μ and standard deviation σ, the z-score of a measure X is given by:
Z = X - μ / σ
The Z-score measures how many standard deviations the measure is from the mean. After finding the z-score, we look at the z-score table and find the p-value associated with this z-score. This p -values is the probability that the values of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the p-value we get the probability that the value of the measure is greater than X.
Now, to find the probability of earning a return above 8%,
We should pick whichever fund has a higher probability of earning a return above 8%.
This Probability is 1 subtracted by the p-value of Z when X = 8
μ = 8 and σ = 14
Z = X - μ / σ
Z = 8 - 8 /14
Z = 0
The p-value of Z = 0 is 0.5
1 - 0.5 = 0.5
50% probability of earning a return above 8%
The riskier fund has the higher probability, so it should be chosen.
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which of the following is not a factor specified in u.s. copyright law for determining fair use? the amount and significance of the portion used the effect on the market for the copyrighted work the for-profit or non-profit status of the copyright holder the purpose and nature of the use
The for-profit or non-profit status of the copyright holder is not a factor that is specified in the US copyright law for determining fair use.
What is copyright?Copyright is described as a means of protecting intellectual property. It is important to mention that the original author of intellectual property only has the right to the work.
Under the US copyright law, the nature and the purpose of the users take more prominence. If the copyrighted material is used only for educational purposes and not for profit, then such usage is allowed by copyright law. However, if the usage is for profit, then such usage is not allowed or permitted by law.
It can be concluded that the for-profit or non-profit status of the copyright holder is not a factor that is specified in the US copyright law for determining fair use.
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the recency effect occurs when a rater gives greater weight to information received first when appraising an individual's performance. question 33 options: true false
The recency effect occurs when a rater gives greater weight to information received first when appraising an individual's performance is a true statement.
What does recency effect refer to?The recency effect is a memory phenomena where individuals tend to accurately recall information that is most recent. It is a cognitive bias whereby the last things, concepts, or arguments are remembered more vividly than the initial ones. The recency effect, in contrast to the primacy effect, is the propensity for people to more readily recall items that are presented last in a list. This is probably because those items were the most recent and are still stored in your short-term memory in the case of the recency effect.
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deca electronics company produces two products, resistors and transistors in a small manufacturing plant which had total manufacturing overhead of $42,000 in june. the factory has two departments, design, which incurred $20,000 of manufacturing overhead, and production which incurred $22,000 of manufacturing overhead. design used 200 hours of direct labor and production used 80 machine hours. during june, 150 direct labor hours were used in making 100 units of resistors, and 150 direct labor hours were used in making 100 units of transistors. if deca electronics company uses a department rate based on direct labor hours for the design department and machine hours for the production department, the department overhead rates for the design and production departments in june were:
If Deca Electronics Company uses a department rate based on direct labor hours for the Design department and machine hours for the Production department, the overhead department rates for the design and production departments in June were $100/DLH and $275/MH, respectively.
What is an overhead rate?An overhead rate is the predetermined rate at which overhead is allocated to production units based on the accepted cost driver.
The overhead rate may be departmental or plantwide.
The predetermined overhead rate is the quotient of the estimated total manufacturing overhead for the period divided by the total cost driver units.
Total manufacturing overhead = $42,000
Design Production Total
Manufacturing overhead $20,000 $22,000 $42,000
Direct labor hours 200 hours
Machine hours 80 hours
Overhead rates $100 per hour $275 per hour
($20,000/200) ($22,000/80)
Resistors Transistors
Units produced 100 100
Direct labor hours 150 150
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as a project manager, you learn that a teammate will be out sick for at least a week. they will be unable to complete their tasks, potentially causing the project to go past its deadline. which work reallocation strategy can keep the project on schedule?
Review the out-sick teammate's tasks to determine which tasks have "float" and figure out where the order of tasks can be changed or resources can be juggled.
A task's original allocation approach is used when it is reallocated. This has the effect of reassigning the task to the item (user group or work queue) to which the system initially allocated it. It should be noted that this is a distinct operation from cancelling a task reservation. A task is allocated to the most recent group it was assigned to before it was reserved while it is unreserved. If no modifications to the task allocation strategy or groups have been made after the task was originally given, reallocating a task utilizes the initial task allocation approach, which typically assigns the task to the first group it was assigned to.
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the purpose of zoning laws is to: multiple choice assist real estate agents in finding homes for sale. reduce real estate property taxes. minimize people moving from an area. encourage new housing development. restrict property use.
The Primary purpose of Zoning laws is stated in Option A which is Restricted Use of Property
Zoning laws are particular guidelines and requirements for areas of land that have been "zoned" by the state or a local government. A zoning law, often known as a zoning ordinance, establishes the permitted uses of land for real estate located inside zoning districts.What rules govern local zoning?
Zoning refers to municipal or local ordinances or rules that specify the permitted and prohibited uses of real estate in particular geographic areas. Zoning regulations, for instance, might restrict the commercial or industrial use of land to stop the construction of oil, manufacturing, or other companies in residential areas.to learn more about zoning laws, click the links
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all major decisions and authority are under the control of the project manager in a: functional structure. project structure. matrix structure. process structure
In a project structure, all major decisions and authority are under the control of the project manager. Thus option (b) i.e. 'project structure' holds the correct answer.
A project structure provides the framework within which the development efforts are accomplished. In project structure authority lies with project managers rather than with department heads.
In the project structure, an enterprise organizes its organization around specialized teams working on particular projects. For example, team members from different departments are assigned to different projects under different managers based on the requirement of the specified time.
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because information is costly to acquire, group of answer choices people will rationally choose not to become fully informed when making decisions. people will generally choose to become as fully informed as possible when making decisions. people will generally choose to acquire no information that would be relevant to their decisions. none of the above are true.
Because information is costly to acquire, people will rationally choose not to become fully informed when making decisions.
A major number of people do not like to spend money on information and other matters which they deem to be mere and petty. Their rational mind does not let them spend money on costly information.
Thus, due to the cost, many times, people make their decisions based on only assumptions. They do not want to acquire information because of the high price and thus make up their minds based on their own opinions or ideas about a particular subject.
They would never choose to pay the price and become fully informed about a topic before deciding on that subject.
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henry mintzberg argued that emergent strategies . group of answer choices are a mix of deliberate and realized strategies are a mix of deliberate and leadership strategies are a mix of deliberate and sustainability strategies none of the above.
Henry Mintzberg argued that emergent strategies a mix of deliberate and realized strategies. Emergent strategy is a series of acts or behaviors that are observable over time.
Henry Mintzberg "a realized pattern [that] was not expressly intended" when strategy was first planned. When a purposeful strategy is successful, the outcome is as anticipated. Unrelated to specific goals, an emergent strategy is created when a group of activities become a recurring pattern of behavior over time.
The organization has a sense of purposeful direction thanks to deliberate strategies. Emergent strategy suggests that a company is discovering what actually works in the real world. The organization will be able to maintain control over its course while promoting learning if deliberate and emergent techniques are combined in some way.
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sue bee honey is one of the largest processors of its product for the retail market. assume that one of its plants has annual fixed costs totaling $9,600,000, of which $3,600,000 is for administrative and selling efforts. sales are anticipated to be 800,000 cases a year. variable costs for processing are $24 per case, and variable selling expenses are 25 percent of selling price. there are no variable administrative expenses. if the company desires a pretax profit of $6,000,000, what is the selling price per case? round answer to two decimal places.
The selling price per case is $58. Selling Price = Cost Price + Profit Margin is the selling price formula. The cost price is the price paid by the retailer for the product. The profit margin is calculated as a percentage of the cost price.
What is selling price?The unit selling price formula To calculate the price per unit from an income statement, divide sales by the number of units or quantity sold. For example, assuming annual sales of $80,000 and 2,000 units sold, the price per unit is $40. (80,000 divided by 2,000). The cost price of an item is the amount paid to purchase it or the price at which it is manufactured. The cost price is abbreviated as C.P. Selling Price: The selling price exist as the price at which an article is sold.Therefore,
For desiring the profit, we have to assume the selling price per case be X.
Anticipated number of cases sold × selling price per case
= Fixed cost + Desired profit + Anticipated number of cases sold × variable cost per case + Anticipated number of cases sold × selling price per case × variable selling expenses percentage
800,000 × X = $9,600,000 +$6,000,000, + 800,000 × $24 + 800,000 × X × 25%
800,000X = $9,600,000 + $6,000,000, + $19,200,000 + 200,000X
800,000X = $34,800,000 + 200,000X
800,000X - 200,000X = $34,800,000
600,000X = $34,800,000
X = $58
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a milling machine is used to process an automobile part. the processing time per part is 3 seconds. after producing 195 units of the part, the milling machine requires a 32 second maintenance process. demand for the part is 11 units per minute. what is the maximum inventory of a part (in units)?
The maximum inventory per minute is 8 units
What is inventory?
Both the materials used in manufacturing and the finished goods that are offered for sale are included in the definition of inventory. One of a company's most valuable assets is its inventory because it is one of the main sources of generating revenue and, consequently, a source of profits for the equity assets. There are three different types of inventory: finished goods, work-in-progress, and raw materials. On the balance sheet of a company, it is listed as a current asset. Inventory is a crucial asset for any business. It is described as the assortment of raw materials or finished products that a company maintains throughout the normal course of its operations.
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dunder mifflin has the following data related to its inventory during october 20x1. inventory on 10/1 was 400 units at $2.10 per unit. there was a purchase on 10/7 of 1,400 units at $2.20 a unit. a second purchase on 10/16 was 280 units at $2.25. ending inventory on 10/31 consisted of 520 units. what is the value assigned to ending inventory if dunder mifflin uses lifo method (periodic system)? do not enter any punctuation (i.e. no dollar sign, no commas). edit insert
The value assigned to ending inventory if dander Mifflin uses LIFO method is $1092
The value assigned to ending inventory if dander Mifflin uses FIFO method is $1170
FIFO
FIFO method assumes that the inventory bought in first, will be the first to the sold to customers.
Ending Inventory = 520 units × $2.25
= $1170
LIFO
LIFO methods assumes that the inventory bought in last will be the first to be sold to the customers.
Ending Inventory = 520 units× 2.10
= $1092
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brown inc. sells one product at a selling price of $30 per unit. variable expenses are $12 per unit and fixed expenses are $41,400. brown's break-even point is:
Smith Company sells a single product at a unit price of $30. Fixed expenses are $41,400 and variable expenses are $12 per unit. The break-even point for Smith is 2,300 units.
What is selling price ?The selling price is the amount paid by a buyer for a product or service. It varies according to how much the buyer is willing to pay, how much the seller is ready to accept, and how competitive the price is in comparison to other companies in the need. SELLING PRICE is defined in the Britannica Dictionary. [singular]: the actual selling price of something. They asked $200,000 for the house, but it ultimately sold for $175,000. Thus, the selling price per unit formula divides sales by the number of units or quantity sold to determine the price per unit from the income statement.
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what are the cost components for self-constructed assets? (select all that apply.) multiple select question. direct labor manufacturing overhead operating expenses direct material
The cost component for self-constructed assets is direct materials manufacturing overhead direct labor.
Manufacturing is the process of producing finished goods (finished products) in large quantities carried out in factories. Manufacturing usually uses a man-machine arrangement with division of labor. It is the process of turning parts, components, and raw materials into finished products. Companies that convert raw materials into finished products are manufacturers. We can also use the term 'manufacturer' for a person if he owns a factory or as one of its executives. Manufacturing techniques or manufacturing processes are the steps by which raw materials are converted into finished goods.
The process begins with the design of the product as well as the specification of the material from which the item is made. The manufacturer then modifies this material through the manufacturing process until it becomes the required part.
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if a government wants to obtain the maximum tax revenue it should a. assess the highest possible tax rate. b. not assess the highest possible tax rate. c. use static tax analysis. d. use an ad valorem system for collecting taxes.
If a government wants to obtain the maximum tax revenue it should b. not assess the highest possible tax rate..
Revenue is the whole amount of income generated by using the sale of goods and services related to the primary operations of the commercial enterprise. Business revenue will also be referred to as sales or as turnover. Some companies acquire revenue from interest, royalties, or different fees.
Sales is the entire quantity of income generated by way of the sale of goods or offerings associated with the agency's number one operations. sales, also known as gross sales, is frequently called the "top line" because it sits at the pinnacle of the profits announcement.
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Which of the following roles is the active head of the company?
A.
COO
B.
CEO
C.
CFO
D.
President
Answer:
CEO
Explanation:
CEO is the Chief Executive Officer who manages all the other C-Level officers like COO, CFO.
Answer: Ceo
Explanation:
:)
g suppose that gdp per capita is increasing, but gdp per worker is also increasing. whatcan one infer about the growth rate of the working-age fraction of the population? a) it is zero. b) it is decreasing. c) it is increasing. d) cannot tell.
A comparative understanding of economic prosperity and global economic advancements can be gained by analyzing GDP per capita on a global scale.
The per capita calculation takes into account both GDP and population. Therefore, the highest GDP per capita may or may not be found in the highest GDP countries.
As nations grow through technical advancements, their per capita GDP may also rise significantly. With a constant population, technology can be a game-changing element in raising a nation's per capita position.
Data from the World Bank show that in 2021, the global per capita GDP rose by an average of 4.8%. Despite having populations of over a billion people each, economies like China and India have experienced per capita GDP growth rates well above the global average in the twenty-first century. This is due to the financial reforms that China began in the late 1970s and India in the middle of the 1990s.
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craigmont company's direct materials costs are $4,700,000, its direct labor costs total $8,530,000, and its factory overhead costs total $6,530,000. its conversion costs total:
Conversion costs total is$ 6,70,0000. conversion costs total is substract Prime cost and overhead costs total is equal.The primary costs associated with running a plant are labor and raw material costs. Because these are the essential components of production, they are referred to be prime.
How to find conversion costs total ?The primary costs associated with running a plant are labor and raw material costs.
Prime cost = material cost + labour cost is equal to
$4,700,000 +$8,530,000 = 13,230,000
conversion costs total is substract Prime cost and overhead costs total is equal.
conversion costs total is Prime cost - overhead costs total is equal
13,230,000 - 6,530,000 = $ 6,70,0000.
Simply summing up all direct labor costs and manufacturing overhead costs yields conversion costs. The labor costs that can be directly linked to a product are known as direct labor costs.
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when gdp growth is at its maximum, given current resources, the business cycle is said to be in which phase? a.) trough b.) expansion c.) peak d.) contraction
The business cycle is said to be at its peak when GDP growth is at its highest level given the available resources.
What is a business cycle ?The "economic cycle" is regarded as the fluctuations that occur in the economy between the periods of expansion (growth) and decline (recession). Taking into account factors such as gross domestic product (GDP), interest rates, total employment, and consumer spending, one can ascertain the economic cycle's current phase.
The economic cycle, also referred to as the business cycle, has four phases that are listed below :
Expansion : The economy grows relatively quickly during an expansion, interest rates are often low, production rises, and inflationary pressures increase.
Peak: When growth accelerates to its fastest rate, a cycle has reached its peak. Economic imbalances should be addressed which are caused by peak growth.
Contraction: During a period of contraction, growth slows, employment declines, and prices remain unchanged.
Trough: The cycle has reached its trough when the economy hits a tough patch and growth begins to pick up.
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after many years of relative stability in marketing research methods, the industry is undergoing great change due to: new uses of traditional research tools. expanded focus on qualitative methods. reluctance of clients to adopt new research methods. new sources of data and technology.
The industry is undergoing great change due to new data and technology sources.
New data sources can boost operational effectiveness. Interactions with consumers and their insightful feedback enable the firm to gather a wealth of priceless customer data. Analytics can then uncover significant trends in the data to produce products that are unique to the customer. The data tools can automate repetitive processes and tasks to provide employees more time to work on activities demanding cognitive skills.
More information is now available than ever on customers, their habits, and their preferences thanks to the development of the internet, smartphones, and data collection methods. These behavioural data sources are utilized and their worth is unlocked by tech-driven market research. Now, businesses can get around the fundamental problems with market research thanks to the mix of new data sources and data science methodologies in tech-driven market research.
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if a firm has no ability to select the price of its product, it: group of answer choices has a horizontal individual demand curve. will go out of business due to losses. is a price-maker. cannot maximize profit.
A firm cannot maximize profit if it lacks the capacity to set the price of its product.
What is maximizing profit?Profit maximization in economics refers to the process through which a business determines the pricing, input, and production levels that will result in the maximum feasible total profit in the short or long run. The firm is supposed to be a "rational actor" seeking to maximize total profit, which is defined as the difference between total revenue and total cost.
Measuring total cost and total revenue is sometimes impossible because enterprises lack the required trustworthy information to assess costs at all stages of production. Instead, they take a more pragmatic approach, investigating how minor changes in production affect revenues and expenses. When a company manufactures an extra unit of a product, the additional income earned from selling it is known as the marginal revenue (MR), and the additional cost to manufacture that unit is known as the marginal cost (MC). The firm's total profit is considered to be maximized when the level of output is such that the marginal revenue equals the marginal cost (MR=MC).
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