Purchasing, procurement, and strategic sourcing are integral components of the supply chain process.
Purchasing involves the purchase of goods and services from a supplier. Procurement is the process of obtaining goods and services from a supplier in the most cost-effective and efficient manner possible. Strategic sourcing is the long-term process of sourcing the right supplier for the right product or service, at the right price and in the right time frame.
In a supply chain context, purchasing is responsible for finding the most suitable supplier for the required goods or services. This involves searching for, evaluating and selecting the best supplier to meet the organization's needs. Procurement is responsible for negotiating the best price and terms of delivery. Strategic sourcing is a long-term process that involves identifying potential suppliers and assessing their capabilities. It is a continuous process of assessing and evaluating potential suppliers to ensure that the most cost-effective and efficient supplier is identified for the long-term.
Overall, purchasing, procurement, and strategic sourcing play a crucial role in the supply chain process. Purchasing involves the purchase of goods and services from a supplier. Procurement is the process of obtaining goods and services from a supplier in the most cost-effective and efficient manner possible. Strategic sourcing is the long-term process of sourcing the right supplier for the right product or service, at the right price and in the right time frame.
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what are the major determinants of price elasticity of demand? instructions: in order to receive full credit, you must make a selection for each option. for correct answer(s), click the box once to place a check mark. for incorrect answer(s), click the option twice to empty the box.
The major determinants of price elasticity of demand are the availability of substitutes, the necessity of the item, the share of the item in the consumer's budget, and the time frame over which the demand is considered.
Price elasticity of demand refers to how responsive consumers are to changes in the price of a good or service.
Availability of Substitutes: The availability of substitutes determines how easily a consumer can find another good to fulfill their needs. The more substitutes available, the more price elastic the demand.
Necessity of Item: The necessity of the item determines how much consumers are willing to pay. Necessary items, such as food, will have more inelastic demand than luxury items, like jewelry.
Share of Item in Consumer's Budget: The share of the item in the consumer's budget determines how sensitive consumers are to changes in the price of the item. Items that are a large share of the consumer's budget will be more price elastic than items that are only a small share of the budget.
Time Frame: The time frame over which the demand is considered determines how quickly consumers can adjust their spending. If the time frame is longer, consumers have more time to adjust their spending and the demand will be more price elastic.
In conclusion, understanding the major determinants (availability of substitutes, the necessity of the item, the share of the item in the consumer's budget, and the time frame over which the demand is considered) of price elasticity of demand is crucial for businesses when setting prices. Businesses must consider the availability of substitutes, the proportion of income spent on the product, the necessity of the product, the time available for consumers to adjust, and the degree of brand loyalty in order to determine the optimal price for their product.
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do trade restrictions evoke retaliation by trade partners, and how would this affect the gains from trade?
Yes, trade restrictions can evoke retaliation by trade partners, which can reduce the potential gains from trade.
Trade restrictions do evoke retaliation by trade partners, and this affects the gains from trade significantly. Trade restrictions and retaliations can lead to economic difficulties for both the country imposing the tariffs and the country affected by the tariffs.
A trade restriction is an action taken by a government to restrict or prohibit imports or exports of goods and services. Tariffs, quotas, and subsidies are examples of trade restrictions.
They are put in place to protect domestic industries or to address political concerns. Trade retaliation is a response to trade restrictions.
It refers to the act of imposing restrictions on another country in retaliation for the restrictions imposed by that country.
So, Yes trade restrictions evoke retaliation by trade partners affecting the gains from trade.
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you are looking at figures and trying to understand the overall message weight for your client's shaving cream ads. you remind yourself that some people who watched the ad on a tv program may have also seen it in a magazine. this is called:
After analyzing the scenario, you remind yourself that some people who watched the ad on a tv program may have also seen it in a magazine. this is called: cross-platform viewing.
Cross-platform viewing refers to the phenomenon of people interacting with advertising content across different media platforms. This could mean that someone who viewed a shaving cream ad on a TV program may have also seen the same ad in a magazine. Understanding cross-platform viewing is crucial for marketers trying to determine the effectiveness of their advertising campaigns.
By taking into account how consumers engage with content through various channels, marketers can gain a more comprehensive understanding of their target audience's behaviors and preferences. This, in turn, can help them craft more effective advertising strategies in the future.
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a company extends its operations to china. the organization must use approach to understand how the local terrain works. a. rhetorical b. critical c. sociopsycholgical d. sociocultural
(Option D) sociocultural. In order for a company to extend its operations to China, it must understand how the local terrain works and the best approach to do this is by using a sociocultural approach.
This approach involves understanding the customs, traditions, values, beliefs, language, and behavior of the local people.
In order for a company to successfully extend its operations to China, it must have an understanding of the locals and their culture. A sociocultural approach is the best way to do this, as it involves looking at the customs, traditions, values, beliefs, language, and behavior of the local people.
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which of the following items are included in cash? multiple select question. checks from customers accounts receivable from customers currency and coins balance in checking accounts notes receivable from customers
Currency and coins are physical forms of money and are the most liquid assets of a business and is included in cash.
Therefore, correct option is : A. Currency and coins.
Checks from customers are pieces of paper that are written by customers that promise payment of a certain amount of money. Balance in checking accounts refers to the amount of money available in a business’s checking account.
Accounts receivable from customers are not considered cash. Accounts receivable is an asset that arises from the sale of goods or services and represents the amounts due from customers. Notes receivable from customers are not considered cash either. Notes receivable is a legal promise to pay a certain amount of money at a specified date and may involve interest payments.
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As the marketing director for a mid-range chain hotel in rural Indiana that boasts several locations worldwide, you have been informed that your hotel is losing business to some of its nearby competitors. What would you do or implement to try and rectify the situation? Identify and evaluate several marketing channels that you could use to promote your hotel's destinations and products
As the marketing director, I would recommend implementing a multi-pronged marketing strategy that leverages various channels to promote the hotel's destinations and products.
Here are a few potential marketing channels that could be used:
Social Media Advertising: Target specific demographics with ads to showcase hotel amenities, highlight promotions/events, and provide information about local attractions.Content Marketing: Create engaging content (blog posts, videos, infographics) to attract potential customers, showcase local attractions, and provide insights into the hotel's unique offerings.Influencer Marketing: Partner with influencers to reach new audiences, promote special promotions/events, showcase hotel amenities, and provide travel recommendations.Email Marketing: Cost-effective way to stay in touch with customers by sending newsletters and promotional emails about special offers and events.Search Engine Optimization (SEO): Optimize website for search engines by using relevant keywords and optimizing content to improve visibility and attract organic traffic.What is SEO?
SEO stands for Search Engine Optimization. It refers to the process of optimizing a website's content and structure to improve its visibility and ranking in search engine results pages (SERPs). The goal of SEO is to attract more organic traffic to a website by making it more relevant and valuable to search engine users.
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suppose the gasoline tax is increased. will gasoline sellers, workers, or consumers be most impacted? use the concept of elasticity to explain your answer.
The increase in the gasoline tax will most likely impact consumers the most. The concept of elasticity states that when the price of a good increases, the demand for that good decreases, and vice versa. Therefore, when the gasoline tax is increased, consumers will likely buy less gasoline, thus impacting them the most.
When the gasoline tax is increased, it will have the most impact on consumers. This is due to the concept of elasticity, which states that the responsiveness of demand to changes in prices is dependent on the good or service being provided. In the case of gasoline, demand is relatively inelastic, meaning that an increase in the tax rate will cause a larger proportional increase in the price of gasoline than in the quantity sold. Thus, consumers will feel the greatest impact of the increased gasoline tax.
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the decision whether to produce products in the plant owned by your company or to outsource that production is made by which functional group?
The decision whether to produce products in the plant owned by your company or to outsource that production is made by Finance department or top level management, as they consider the cost of production and outsourcing and compare both and choose the most efficient method.
What is Outsourcing?Outsourcing is the activity in which the company gets services from another company, mainly a company outsources when the other company have better department or is a cheaper option.
In production, inhouse or outsourcing, the two main factors that are considered are Cost and Quality. Companies out sourcing its production and departments ensure that the quality is not compromised and or the cost is saved.
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jim's car was totaled in a wreck. he failed to yield to oncoming traffic and jim was found to be at fault. the driver of the car he hit did not have insurance. jim's own car insurance policy reimbursed him for the property damage to his own vehicle. what type of coverage would pay for this? g
Option (d) is correct. If Jim’s own car insurance policy reimbursed him for the property damage to his own vehicle then collision coverage would pay for that.
Collision coverage insurance is known for a coverage which helps pay to repair or replace your car if it's damaged in an accident with another vehicle or object such as a fence or a tree. If you're leasing or financing your car this insurance coverage is required by the lender. If your car is paid off, collision is an optional coverage on your car insurance policy as per the collision insurance. It helps pay to repair or replace your vehicle if it's damaged from collision with another vehicle, collision with an object, such as a building or a tree, single-car accident that involves rolling or falling over badly. This insurance coverage has a limit which is the maximum amount your policy will pay toward a covered claim.
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The complete question is,
Jim’s car was totaled in a wreck. He failed to yield to oncoming traffic and Jim was found to be at fault. The driver of the car he hit did not have insurance. Jim’s own car insurance policy reimbursed him for the property damage to his own vehicle. What type of coverage would pay for this?
A)Liability coverage.
B)Uninsured motorist coverage.
C)Comprehensive coverage.
D)Collision coverage.
the implied warranty of merchantability shifts the burden of proof from multiple choice producers to consumers. suppliers to consumers. producers to suppliers. consumers to producers.
The implied warranty of merchantability shifts the burden of proof from multiple-choice producers to consumers.
What is an implied warranty? An implied warranty is a type of warranty in which it is not necessary to provide a written guarantee. It is also referred to as an unwritten guarantee. The implied warranty exists under the terms of a sale, and it is made by operation of law rather than by explicit written guarantee. When goods are sold, the implied warranty of merchantability may be an element of that sale.
What is the implied warranty of merchantability? The implied warranty of merchantability is a guarantee made by the seller that the goods being sold are in good working order, fit for use, and free of any defects that would make them unusable. An implied warranty of merchantability, like an express warranty, provides consumers with protection against defective goods. This means that if a product fails to meet its reasonable intended purpose, a consumer can make a claim. This warranty assures that the product will be used for its intended purpose.
The burden of proof is shifted from producers to consumers by the implied warranty of merchantability. Producers are not required to prove that their product is free of defects if a consumer makes a claim. Rather, it is up to the consumer to demonstrate that the product is defective, which puts the burden of proof on the consumer.
Therefore, it can be concluded that the implied warranty of merchantability shifts the burden of proof from producers to consumers.
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India specializes in business process outsourcing and does this more efficiently than any other country. It buys agricultural commodities, which it produces less efficiently than outsourcing activities, from the United States, even though it produces these agricultural commodities more efficiently than the United States Which international trade theory supports India's decision to buy agricultural commodities from the United States?O Absolute Advantage ExampleO Comparative Advantage ExampleO Product Life Cycle Theory ExampleO Heckscher-Ohlin Model (Factor Proportions Theory) Example
The Heckscher-Ohlin Model (Factor Proportions Theory) Example supports India's decision to buy agricultural commodities from the United States.
This theory suggests that countries that have an absolute advantage in the production of certain goods will tend to export them and import goods that they have a comparative disadvantage in producing.
In this case, India specializes in business process outsourcing, which it can do more efficiently than other countries. However, it is not as efficient in producing agricultural commodities as the United States, so it is more efficient for India to buy these commodities from the United States.
This is an example of comparative advantage, as India can produce the agricultural commodities, but does so less efficiently than the United States. Therefore, it makes sense for India to focus on its comparative advantage in business process outsourcing and buy agricultural commodities from the United States.
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an interval fund: a only offers its shares at stated intervals b only redeems its shares at stated intervals c trades in the market d continuously issues and redeems its own shares
An interval fund is a type of investment fund that only offers its shares at stated intervals, so the correct answer is (a).
What is an interval fund ?Interval funds are a type of closed-end fund, which means that they raise a fixed amount of capital through an initial public offering (IPO) and then issue a fixed number of shares that trade on an exchange.
However, unlike traditional closed-end funds, interval funds do not trade continuously on an exchange. Instead, they offer their shares to investors at specified intervals, such as once per quarter or once per year.
Interval funds also have restrictions on when investors can redeem their shares. Typically, they allow investors to redeem their shares at specified intervals, which can range from monthly to annually.
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an industry whose average total cost curve shifts upward as the industry expands and shifts downward as the industry contracts is known as a(n) industry.
An industry whose average total cost curve shifts upward as the industry expands and shifts downward as the industry contracts is known as a "decreasing-cost industry."
What is a decreasing-cost industry.?In a decreasing-cost industry, as the industry expands and the total output increases, the per-unit cost of production decreases due to various factors such as economies of scale, lower input costs, and better technology.
This makes it easier for firms to enter the industry and compete, which leads to further expansion and a downward shift in the average total cost curve. On the other hand, if the industry contracts, the per-unit cost of production increases, which leads to a shift upward in the average total cost curve, making it more difficult for firms to operate and compete in the industry.
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the new free agent workers will be a. highly educated scientists and managers. b. more loyal to good employers than were their predecessors. c. more proactive about their work environments. d. willing to move overseas to pursue good opportunities.
c. more proactive about their work environments. The newly hired free agents will be highly educated managers and scientists with cutting-edge technical abilities. They are anticipated to take a more proactive approach.
to their working settings and be open to exploring options that fit with their beliefs and professional aspirations. These workers place a high value on work-life balance and value flexibility and autonomy. They are more prone to regularly transfer occupations in quest of better possibilities and are less likely to be loyal to their employment. These professionals are more open to working abroad to further their good professional goals because to the growth of remote work and globalization. Employers must therefore adjust to these shifting dynamics by providing competitive pay scales, flexible work schedules.
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basing prices on average cost or marginal cost are two concepts for value-of-service pricing. true false
True. Value-of-service pricing is a strategy that considers either average cost or marginal cost when setting prices. Average cost considers the total cost of production, divided by the total number of units produced.
Marginal cost considers the cost of producing an additional unit.the marginal cost is the change in total production cost that comes from making or producing one additional unit.
To calculate marginal cost, divide the change in production costs by the change in quantity. The purpose of analyzing marginal cost is to determine at what point an organization can achieve economies of scale to optimize production and overall operations.
Cost of production is all the costs that a company incurs when offering a service or manufacturing a product. It comprises various expenses, including the cost of materials, employee wages, factory maintenance and shipping costs.
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wilma is hired to keep the books and pay the bills for a small company. she provides a(n) resource for the firm.
Wilma provides a valuable resource for the small company she works for by keeping their books and paying their bills.
Financial management can be difficult for a small business to maintain, but Wilma's expertise and experience makes it possible. With her help, the company can track their finances, create a budget, pay bills on time, and stay on top of cash flow.
Wilma's ability to handle the company's finances accurately and effectively can help them stay organized and increase their bottom line. In short, Wilma provides a valuable resource for the small company and her services can help them stay successful.
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assume that the value of a financial institution's liabilities equals that of its assets. if the durations of its asset portfolio are than the durations of its liability portfolio, then the market value of the assets is interest-rate sensitive than the market value of the liabilities. a. greater; more b. greater; equally c. greater; less d. less; equally e. b and d
The correct option is C. greater; less. Assuming that the value of a financial institution's liabilities equals that of its assets.
If the durations of its asset portfolio are less than the durations of its liability portfolio, then the market value of the assets is more interest-rate sensitive than the market value of the liabilities.
How are financial institutions affected by interest rate changes? Interest rates and bond prices are inversely related. When interest rates rise, bond prices fall, and when interest rates fall, bond prices rise. This is why interest rates are critical to bondholders.
When interest rates rise, the value of existing bonds decreases because the new bonds have a higher interest rate. The market value of the asset portfolio will be more interest-rate sensitive because the assets will lose more value as interest rates rise.
When interest rates rise, the bank's assets will decline in value more than the bank's liabilities will. The difference in the sensitivity of the two portfolios is due to the bank's short-term interest rates exposure.
So, greater; less is the correct option.
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How does a decrease in the price level affect real wealth and aggregate demand?
A decrease in the price level increases real wealth, lowers interest rates, and stimulates net exports, leading to an increase in aggregate demand.
A decrease in the price level can affect real wealth and aggregate demand in several ways:
Real wealth: A decrease in the price level increases the purchasing power of money. This means that people can buy more goods and services with the same amount of money. As a result, their real wealth, which is the value of their assets in terms of purchasing power, increases. When real wealth increases, people tend to feel more financially secure and are more likely to spend money, leading to an increase in aggregate demand.Interest rates: A decrease in the price level can also lead to a decrease in interest rates. When prices fall, the real value of money increases, which reduces the demand for borrowing money. This leads to a decrease in interest rates, making it cheaper for businesses and consumers to borrow money to invest and spend. Lower interest rates can increase investment spending, which can further stimulate aggregate demand.Net exports: A decrease in the price level can make domestic goods and services relatively cheaper compared to foreign goods and services. This can lead to an increase in exports and a decrease in imports, which can boost net exports and aggregate demand.In summary, a decrease in the price level can increase real wealth, lower interest rates, and stimulate net exports, leading to an increase in aggregate demand. Conversely, an increase in the price level can have the opposite effect, decreasing real wealth, raising interest rates, and lowering net exports, leading to a decrease in aggregate demand.
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the well-run organization strives for compensation that treats similar positions equitably and that is competitive with similar employment elsewhere. why? are you sure you agree? if you have doubts, what are the alternatives?
Well-managed organizations will provide alternatives including offering flexible working hours or other forms of benefits such as health insurance or retirement plans.
The well-run organization strives for compensation that treats similar positions equitably and that is competitive with similar employment elsewhere because it helps to attract and retain qualified employees. Offering competitive compensation packages ensures that the organization can attract top talent and keep them motivated to perform their best. Additionally, equitable compensation can improve employee morale and job satisfaction, leading to higher productivity and better outcomes for the organization as a whole.
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rebeya is setting goals with the executive team of her organization. these goals include financial and productivity goals, as well as environmental and sustainability goals. which type of goals is rebeya establishing?
Rebeya is establishing a set of multidimensional goals that encompass financial, productivity, environmental, and sustainability objectives. These types of goals are commonly referred to as "balanced scorecard" goals or "integrated goals."
The ''integrated goals'' recognizes that an organization's success cannot be measured by financial metrics alone, but rather by a combination of factors that contribute to long-term success and sustainability.
By setting multidimensional goals, Rebeya is taking a holistic approach to management that considers not only the financial bottom line but also the impact of the organization's activities on the environment and society.
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an investor buys a european call at a premium of $2.20 with a strike price of $75 for stock a with expiration in 1-month. what will be the profit for the investor in one month at stock price of $75.78.
The profit will be $0.80 for the investor in one month at a stock price of $75.78
To figure out what the profit would be, we must first know the break-even point. If the strike price is $75 and the investor paid a premium of $2.20, the break-even point would be $77.20 ($75 + $2.20).
As a result, if the stock price is greater than $77.20, the investor will profit. Since the stock price is $75.78, which is less than $77.20, the investor will lose money.
Suppose the stock price is $78. The investor would profit in this scenario because the stock price is above the break-even point of $77.20. The profit for the investor would be equal to the stock price minus the strike price minus the premium paid.
As a result, the profit would be equal to:
Profit = (Stock price - Strike price - Premium paid)
Profit = ($78 - $75 - $2.20)Profit = $0.80
Therefore, if the stock price is $78, the investor will profit $0.80.
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exercise 5-19 (algo) inventory turnover and days' sales in inventory lo a3 the following is information for palmer company. year 3year 2year 1 cost of goods sold$ 638,825$ 421,650$ 386,300 ending inventory96,90087,25092,000 use the above information to compute inventory turnover for year 3 and year 2, and its days' sales in inventory at december 31, year 3 and year 2. from year 2 to year 3, did palmer improve its (a) inventory turnover and (b) days' sales in inventory?
The inventory turnover for year 2 is 4.83 and for year 3 is 6.60. The day's sales in inventory on December 31st of year 2 is 75.52 days and for year 3, it is 55.31 days. Yes, palmer improves its inventory turnover and days' sales in inventory.
What is Inventory turnover?
Inventory turnover refers to how quickly a company can sell and replace its inventory. A higher inventory turnover ratio shows that the company is efficiently selling its goods while a lower ratio shows that the company is inefficiently selling its inventory.
Let us calculate the inventory turnover and days' sales in inventory for years 2 and year 3.
Inventory Turnover = Cost of Goods Sold / Average Inventory
Year 2 = $421,650 / [(87,250+92,000)/2] = 4.83
Year 3 = $638,825 / [(96,900+87,250)/2] = 6.60
Days' Sales in Inventory= (Ending Inventory / Cost of Goods Sold) x Number of Days
Year 2=(87,250 / 421,650) x 365 = 75.52 days
Year 3= (96,900 / 638,825) x 365 = 55.31 days
Comparing the inventory turnover and DSI of year 2 and year 3, it is seen that there is an improvement in inventory turnover and decrement in DSI from year 2 to year 3.
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casey majored in marketing and really enjoyed studying market research as a subject. through research on the internet and in the university library, she discovers that this industry appears to have significant positive trends in employment. she interprets this as a(n) .
Casey interprets the significant positive trends in employment in the market research industry as an opportunity.
Casey's interest in market research led her to research the industry's employment trends. The significant positive trends she discovered indicate an increase in demand for professionals in the industry, creating opportunities for those with a marketing degree or specialization in market research.
This trend could mean that there will be more job openings, higher salaries, and greater career advancement opportunities for those interested in this field.
As such, Casey sees this as an opportunity to pursue a career in market research, using her marketing degree and knowledge in the field. She could also consider furthering her education and obtaining additional qualifications that would enhance her chances of landing a job in this growing industry.
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the outcome of quality partnerships between salespeople and customers is a)lakc of customer complaints
The outcome of quality partnerships between salespeople and customers is the lack of customer complaints. This is because good partnerships built on mutual trust, understanding, and respect help to foster effective communication between salespeople and customers.
When this happens, customers feel more comfortable expressing their needs and concerns to salespeople, while salespeople are better able to listen and respond to these needs and concerns. This leads to a positive customer experience and ultimately, customer satisfaction.
The lack of customer complaints is a key indicator of customer satisfaction. It is an indication that customers are happy with the products and services they receive and are willing to continue doing business with the company. A lack of complaints also suggests that the company is delivering on its promises, and that customers feel that their needs and concerns are being heard and addressed.
The benefits of quality partnerships between salespeople and customers go beyond just the lack of complaints. Good partnerships also help to build customer loyalty, which is essential for the long-term success of any business.
By building strong relationships with customers, salespeople can create a sense of loyalty that will keep customers coming back time and time again. This, in turn, can lead to increased sales, higher profits, and a more positive reputation for the company.
Therefore, companies must invest in building quality partnerships between salespeople and customers. This requires a focus on communication, listening, and building relationships that are based on mutual trust and respect.
By doing this, companies can create a positive customer experience that will lead to increased customer satisfaction, loyalty, and ultimately, business success.
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in a production process, an excessive amount of the variable input relative to the fixed input is being used to produce the desired output. this statement is true for:
This statement is true for a short-run production process, where the amount of fixed inputs (such as machines or tools) remain constant, while the amount of variable inputs (such as labour or materials) can be changed.
In a short-run production process, increasing the amount of variable inputs relative to the fixed inputs will increase the output.
For example, if a company manufactures car parts and the number of machines and tools used remain constant, then the company can increase production by hiring more workers or purchasing more materials.
This will lead to an increase in output as more variable inputs are used relative to the fixed inputs.
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at the store, 60 brand a diapers costs $24.94, while 100 diapers of brand b costs $39.99. which is the better buy, brand a or brand b diapers?\
The final answer are 60 brand a diapers costs $24.94, while 100 diapers of brand b costs $39.99, it is clear that brand b diapers are the better buy, as they are cheaper per diaper.
When comparing the cost of two different brands of diapers, it is important to look at the cost per diaper to determine which is the better buy. In this case, the store is selling 60 diapers of brand a for $24.94, while 100 diapers of brand b cost $39.99.
To calculate the cost per diaper for each brand, we can divide the total cost by the number of diapers. For brand a, we get a cost per diaper of $24.94/60 diapers = $0.4157 per diaper. For brand b, we get a cost per diaper of $39.99/100 diapers = $0.3999 per diaper.
Based on this calculation, we can see that brand b diapers are cheaper per diaper than brand a diapers. Therefore, brand b is the better buy in terms of cost per diaper. It is important to consider factors such as cost per unit when making purchasing decisions, as it can help save money in the long run.
100 brand b diapers cost $39.99, which works out to be 0.3999 per diaper. On the other hand, 60 brand a diapers cost $24.94, which works out to be 0.4157 per diaper. Therefore, brand b diapers are cheaper per diaper and it is the better buy.
To summarize, when considering at the store, 60 brand a diapers costs $24.94, while 100 diapers of brand b costs $39.99, it is clear that brand b diapers are the better buy, as they are cheaper per diaper.
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your journal what‘s the difference between sales tax and excise tax?
Excise taxes are typically levied on a per-unit basis rather than as a percentage of the buy price, in contrast to general sales taxes. For instance, the excise duty on cigarettes is determined in cents per pack.
Additionally, the majority of petroleum taxes are calculated in cents per gallon. The current sales tax stipulates that it must be paid after a transaction or other special circumstance. While in the case of service tax, it is accounted for at the conclusion of the three-month period and becomes due when payment is received, or if not, from the date of the invoice.
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calculate fixed cost using the high-low method. month units sold total cost jan. 190 $2,200 feb. 200 $2,100 march 120 $1,700 april 100 $1,500
To determine the fixed cost using the high-low method, we'll have to calculate the variable cost per unit. We can then subtract the variable cost per unit from the total cost of the month with the lowest unit sold to get the fixed cost.
What is the high-low method?
The high-low method is a management accounting tool that is used to analyze and split mixed expenses into their fixed and variable components.
It involves analyzing the costs at two levels of output, usually the highest and lowest levels. To calculate the variable and fixed costs, we first use these data points and then extrapolate them.
The calculation of fixed cost using the high-low method is as follows:
We first need to calculate the variable cost per unit. We'll do that by subtracting the cost of the lowest activity month from the cost of the highest activity month and dividing it by the difference in unit sales between the two months. We can calculate the variable cost per unit by following the steps below:
Variable cost per unit = (Highest Total Cost - Lowest Total Cost) ÷ (Highest Unit Sales - Lowest Unit Sales)
Now let's substitute the values we have:
Highest Unit Sales = 200
Lowest Unit Sales = 100
Highest Total Cost = $2,200
Lowest Total Cost = $1,500
Therefore,
Variable cost per unit = ($2,200 - $1,500) ÷ (200 - 100)
= $700 ÷ 100
= $7 per unit
The variable cost per unit is $7. To calculate the fixed cost, we subtract the variable cost per unit from the total cost of the month with the lowest unit sold.
Fixed cost = Total Cost - (Variable Cost per unit × Unit Sales)
Let's use the month with the lowest unit sold, April, to calculate the fixed cost. In this month, the unit sold was 100, and the total cost was $1,500. Therefore,
Fixed cost = $1,500 - ($7 × 100)
= $1,500 - $700
= $800
Therefore, the fixed cost is $800.
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according to the traditional view of the production function how does output per worker change when capital per worker increases? a. it decreases. this decrease is larger at larger values of capital per worker. cross out b. it increases. this increase is the same at all values of capital per worker. cross out c. it increases. this increase is smaller at larger values of capital per worker. cross out d. it increases. this increase is larger at larger values of capital per worker.
The correct answer is D: it increases. This increase is larger at larger values of capital per worker.
According to the traditional view of the production function, how does output per worker change when capital per worker increases?
The traditional view of the production function is that when capital per worker increases, output per worker increases too. This view assumes that technological knowledge is given and fixed. Therefore, the traditional view is also known as the neoclassical production function.
According to the traditional view of the production function, when capital per worker increases, output per worker increases, and this increase is larger at larger values of capital per worker.
Therefore, the answer is d. It increases. This increase is larger at larger values of capital per worker.
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The correct answer is D: it increases. This increase is larger at larger values of capital per worker.
According to the traditional view of the production function, how does output per worker change when capital per worker increases?The traditional view of the production function is that when capital per worker increases, output per worker increases too. This view assumes that technological knowledge is given and fixed. Therefore, the traditional view is also known as the neoclassical production function.
According to the traditional view of the production function, when capital per worker increases, output per worker increases, and this increase is larger at larger values of capital per worker.
Therefore, the answer is d. It increases. This increase is larger at larger values of capital per worker.
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a customer-oriented firm should focus exclusively on satisfying its internal customers. group of answer choices true false
A customer-oriented firm should not focus exclusively on satisfying its internal customers. This statement is false.
Here's why: What is a customer-oriented company?
A customer-oriented company is one that prioritizes the needs and interests of its clients.
The organization places a premium on consumer satisfaction, and as a result, it is dedicated to delivering high-quality goods and services that are tailored to meet the needs of the clients.
A company that is customer-focused understands the needs of the customer and strives to meet or surpass their expectations. The consumer is placed at the forefront of every choice, decision, and action taken by a customer-centric company.
Why should a customer-oriented firm not focus exclusively on satisfying its internal customers?
An internal customer is a member of the organization's staff or team. Focusing only on the internal customer, in this case, may cause the company to overlook the importance of the external customer.
The internal customer is important, but their satisfaction should not be prioritized over that of the external customer.A customer-oriented firm must focus on both the internal and external customers, and it must make sure that they are both satisfied with the goods and services delivered by the organization.
Focusing solely on internal customers may cause the firm to lose sight of its goal of satisfying its external clients. It is also critical to remember that external customers are the source of revenue for the company, so their satisfaction should be a top priority.
In summary, while the satisfaction of internal customers is crucial, a customer-oriented company must prioritize external customer satisfaction. A balanced approach to satisfying both internal and external customers can help to improve a firm's competitiveness and profitability.
Therefore, the statement that a customer-oriented firm should focus exclusively on satisfying its internal customers is false.
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