Answer:
Operations management is relevant to improve the overall productivity in an organization as it involves working with all departments in the organization.
Explanation:
Operations management involves <u>planning, organizing and controlling the production processes by which raw materials are converted into valuable goods and services to be distributed to customers.</u>
An operations manager works with managers in other organizational functions to <u>improve the overall productivity in the organization.</u>
He or she maintains contact with; the financial manager to agree on the budget needed for production, the purchasing manager to determine what raw materials will be purchased for production, the personnel manager to sort out the human resources required for the production process, and the marketing manager to ensure that customer needs are taken into consideration when producing goods and services.
Answer:
C. Increase， Decrease
Explanation:
Inventory turnover is increased because there are very low or almost nill Closing inventorya as we divide the cost of goods sold with a lower number. Inventory as a percentage to total asset will be decrease because there will be a lower value ofinventory in the balance sheet. Comparing it with total value of asset tells us the percentage of total asset.
Answer:1. Make provision for warranty claims.
2. Disclosure of contingent liability
3. No cost should be recorded.
Explanation:
Warranty is an assurance made by firms to make good any agreed loss that is incurred by the customers in usage of goods and services whiting the period of the warranty. Since an estimation can be made based on firms history of sales a provision has to be made for possible warranty.
Since it's only probably that a loss will be Incurred by the firm by going into the contract and the financial statement has not been issue the firm should made a contingent liability disclosure in the report.
The self insurance is not a contract with a third party, in this vein no cost will be accrued until the loss is actually suffered.
Answer:
The three primary determinants of behavior in organizations are employee dynamics, available resources and work environments.
If a company would like to improve its degree of using leverage it should increase its Fixed Costs relative to its Variable Costs.
<h3>What is the relationship between variable cost and fixed cost with profit?</h3>
As they are time-related, or stable across time, fixed costs. Variable costs depend on volume and shift as the quantity of output does.
Variable costs are those that rise or fall in line with the volume of goods produced, while fixed costs remain constant regardless of output levels. Gross profit is significantly influenced by both fixed and variable costs; when production costs rise, gross profit decreases.
The amount of product generated determines the fluctuation in variable costs. Raw materials, labor, and commissions are examples of variable expenses. Regardless of the level of production, fixed expenses stay constant. Lease and rental payments, insurance, and interest payments are examples of fixed costs.
To learn more about variable cost and fixed cost refer to:
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