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3 years ago

The 6 factors of production Of to make Pasta

1 answer:

5 0

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-Natural Resources [materials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for economic gain.]

-Raw material [the basic material from which a product is made.]

-Labour [work, especially hard physical work.]

-Capital [Capital is a term for financial assets, such as funds held in deposit accounts, as well as for tangible factors of production, i.e. manufacturing equipment. Additionally, capital includes facilities, including buildings used to produce and store manufactured goods.]

-Information [facts provided or learned about something or someone.]

-Management [the process of dealing with or controlling things or people.]

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You might be interested in

_____________ are sunk costs because the company will have to pay the cost no matter production or other variables in operations

Lina20 [59]

Answer:

E. Fixed Costs

Explanation:

Here are the options to this question :

A. Variable Costs

B. Labor Costs

C. Total Costs

D. Raw material Costs

E. Fixed Costs

Sunk costs are costs that have already been incurred and cannot be recovered. They should not be considered when making future economic decisions.

Fixed cost is cost that do not vary with production. e.g. rent

Most companies pay rent per year. if due to unforeseen contingencies, sales and profit of the company declines and the company decides to shut down production, the company has already paid for rent, this amount cannot be recovered even though the company would not be using the space for sometime. So, rent is an example of sunk cost

6 0

4 years ago

Charles was the last person on his block to purchase a color television set, and that was in the 1980s. He just couldn't see the

dezoksy [38]

Answer:

Charles is classified in the adopter category called "Latecomers"

Explanation:

Latecomers are traditional consumers. For them, buying a new product brings a feeling of extreme psychological discomfort. They do not like news, even flee from it, and consider it immature to buy an innovative article in the market.

Latecomers represent 16% of consumers, are insecure to adopt new things, do not like to try new things and do not follow fads. Being traditionalists, they always perform the same way and only adopt innovation when there is no other alternative. Like Charles, who only bought the color TV because his old tv stopped working.

3 0

4 years ago

Warranties do little to inform the customer about perceived product quality and manufacturer commitment to customer satisfaction

sammy [17]

Warranties do little to inform the customer about perceived product quality and manufacturer commitment to customer satisfaction.

Proper products ought to have a stable value proposition and solve a real hassle, be comprehensible via customers, perform their undertaking as effortlessly and efficaciously as viable, and emerge as better and tougher to component with the more they may be used.

The perceptions customers have of a brand, its values and its products and services may have a dramatic effect on client buy behavior. If a business can foster effective perceptions targeted on these aspects, it is in all likelihood to construct a sustainable, loyal and growing consumer base.

Customer notion is extraordinarily motivated by the non-public revel in that a patron had even as buying and using a particular product. If the pleasant, customer support, rate, logo, coloration, discounts.

Learn more about customer satisfaction here:-brainly.com/question/14193273

#SPJ4

5 0

2 years ago

The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August.

kkurt [141]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Direct labor:

Actual labor rate $15 per hour

Standard labor rate $14.50 per hour

Actual hours incurred and used 3,500 hours

Standard hours used 3,550 hours

Direct material:

Actual quantity of materials purchased and used 1,500 tons

Standard quantity of materials used 1,480 tons

Actual materials price $220 per ton

Standard materials price $224 per ton

To calculate the direct labor efficiency and rate variance, we need to use the following formulas:

Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate

Direct labor time (efficiency) variance= (3,550 - 3,500)14.5

Direct labor time (efficiency) variance= $725 favorable

Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity

Direct labor rate variance= (14.5 - 15)*3,500

Direct labor rate variance= $1,750 unfavorable

To calculate the direct material rate and quantity variance, we need to use the following formulas:

Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= (224 - 220)*1,500

Direct material price variance= $6,000 favorable

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Direct material quantity variance= (1,480 - 1,500)*220

Direct material quantity variance= $4,400 unfavorable

4 0

3 years ago

Corey has been looking at several alternative locations for his new facility and performs a cost-benefit analysis in order to de

ale4655 [162]

The decision making should Corey focus on is the Economic feasibility. It is a study that shows the proposed project's total benefit. It will determine if the business will be feasible in terms of the following:

1. technical
2. cost
3. profit.

8 0

4 years ago