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2 years ago

Write a SOP for the procedure you identified as one that would be helpful for effective communication as a monitor?

1 answer:

Klio2033 [76]2 years ago

8 0

A standard operating procedure exists as a set of written instructions that represents the step-by-step process that must be endured to properly complete a routine activity.

<h3>What is Standard Operating Procedures?</h3>

A standard operating procedure exists as a set of written instructions that represents the step-by-step process that must be endured to properly complete a routine activity. A standard operating procedure exists as a set of step-by-step instructions collected by an organization to assist workers to carry out routine operations. SOPs desire to accomplish efficiency, quality output, and uniformity of performance, while decreasing miscommunication and defeat to comply with industry regulations.

SOPs can also be used as a part of a personnel training schedule, hence they should support complicated work instructions. When historical data are being assessed for current usage, SOPs can be advantageous for reconstructing project movements.

Additionally, SOPs exist commonly used as checklists by inspectors when auditing systems. Finally, the benefits of a valid SOP stand minimized work effort, together with enhanced data comparability, credibility, and legal defensibility. SOPs exist necessary even when published procedures are being administered because cited published techniques may not contain appropriate data for conducting the procedure in-house.

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5-7 Short Run versus Long Run A firm sells 1,000 units per week. It charges $70 per unit, the average variable costs are $25, an

irina1246 [14]

<u>a. The firm should carry out the activities. </u>

<u>b.The firm should carry out activities until it is covering the cost. </u>

<u>c. The firm should shut down business activities when the price of the product goes below $25 in short-run. </u>

<u>d. The firm should shut down business activities when the price of the product goes below $65 in long-run. </u>

Further Explanation:

Steps taken by the firm in the long run:

The sales price of the product is $70. The total average cost of the product is $65. The firm can cover all its costs (variable and fixed) and generating a profit of $5. So it should continue to carry out its business operations in the short run.

Steps taken by the firm in the long run:

In the long run, all the costs of the firm are variable. In the current case, the fixed cost is around 60% of the total cost. So the firm should attempt to decrease this cost. If the firm can decrease the total cost, it should carry out the business activities. The firm can continue to carry out the operational activities until it is making the profit and covering all the product cost.

The appropriate price for shutting down the business in the short-run:

The firm can shut down the business in the short-run when the price of the product is below $25.

In the short run, the firm can only control the variable cost. The firm can not control the fixed cost of the product. In the given case, the variable cost of the product is $25. Therefore, the firm should shut down the business when the price of the product goes below the variable cost ($25).

The appropriate price for shutting down the business in the long-run:

The firm can shut down the business in the long-run when the price of the product is below $65.

In the long run, the firm can influence all the costs of the business. It can influence the variable cost and the fixed cost of the business. Therefore, it should cover the total cost of the product. Thus, the firm should shut down the business when the price of the product goes below the total cost ($65).

Learn more:

1. Learn more about the variable costing

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2. Learn more about the overhead expenses

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3. Learn more about the cost of the product

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Answer details:

Grade: Senior School

Subject: Economics

Chapter: Decision making (Short-run & Long-run)

Keywords: Short Run, Long Run, sells, units, week, charges, average variable costs, average costs, long run, Why, price, consider, shutting down the long run.

6 0

4 years ago

When companies reward employees who report valid claims of corporate unethical conduct, what are they clearly encouraging?

weqwewe [10]

Whistleblowing!!!!!!!!

8 0

3 years ago

Bothell Company uses a job order costing system that allocates estimated overhead as 40% of prime costs. What is the cost of a j

Juli2301 [7.4K]

Answer:

$10,080

Explanation:

The computation of the cost of the job is shown below:

We know that

prime cost = direct material + Direct labor

= $2,000 + $5,200

= $,7200

Now overhead is

= 40% of $7200

= $2,880

And,

Cost of job = direct material + Direct labor + overhead

= $2,000 + $5,200 + $2,880

= $10,080

4 0

3 years ago

In comparing the two graphs, the Demand Curve uses "prices." What term is used in place of "price" on an Aggregate Demand Curve?

Aneli [31]

Answer:

From my understanding its D as aggregate deals with atlarge

6 0

3 years ago

A travel agent wants to determine how much the average client is willing to pay for a weekend at an all-expense paid resort. The

-Dominant- [34]

Answer:

$n=(\frac{1.960(840)}{150})^2 =120.47 \approx 121$

So the answer for this case would be n=12 rounded up to the next integer

Explanation:

$\bar X=2500$ represent the sample mean

$\mu$ population mean (variable of interest)

s=840 represent the sample standard deviation

n represent the sample size

The margin of error is given by this formula:

$ME=z_{\alpha/2}\frac{\sigma}{\sqrt{n}}$ (a)

And on this case we have that ME =150 and we are interested in order to find the value of n, if we solve n from equation (a) we got:

$n=(\frac{z_{\alpha/2} \sigma}{ME})^2$ (b)

The critical value for 95% of confidence interval, the significance level if 5% and the critical value would be $z_{\alpha/2}=1.960$ , replacing into formula (b) we got:

$n=(\frac{1.960(840)}{150})^2 =120.47 \approx 121$

So the answer for this case would be n=12 rounded up to the next integer

8 0

3 years ago