Answer:
The asset turnover is 3.66 times
Explanation:
Asset Turnover is the efficiency rate of the assets of the business to generate revenue for the business. It shows how efficiently the assets of the business are used to generate revenue for the business.
Formula for Asset turnover is as follow
Asset Turnover = Net sales / Average total assets
Asset Turnover = $5,490,000 / $1,500,000
Asset Turnover = 3.66 times
It means that the sale for the period is generated to 3.66 times of average total asset of the business.
Answer: The corrects answers are "C) the pressures of competition in the labor market" and A) will push wage rates toward the marginal revenue product of labor.".
Explanation: Because the correct and complete statement would be: Even when competitive companies cannot directly calculate the product of marginal income, the pressures of competition in the labor market will push wage rates towards the product of marginal income from labor.
Making it clear that the strong pressures that are the product of competition in the labor market pushed wage rates towards the product of marginal income.
Similar to manufacturing, services use methods that add value to the raw materials required to make the finished product. JIT emphasizes the process rather than the end result. Therefore, it may be applied to any set of processes, whether they are involved in manufacturing or providing services.
In the context of the industrial and service industries, the Just in Time (JIT) system: Companies use just-in-time (JIT) inventory strategies to boost productivity and cut waste by only ordering products when they are actually needed for manufacturing, which lowers inventory expenses.
Between service and manufacturing organizations, there are five key differences: the tangible nature of their output; production on demand or for inventory; production tailored to the needs of a particular customer; labour-intensive or automated operations; and the requirement for a physical production location.
In reality, though, service and industrial firms have a lot in common. Many manufacturers have their own service departments, and both industries need trained workers to run a successful organization.
Learn more about JIT here:
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Natalie wants to make a 25% profit on a $70000 sale. That would be:
(125 ÷ 100) × 70000 = $87500.
Natalie wants to make $87500. But the agent would charge a 6% for the sale, Natalie will add a 6% to the $87500, that would be:
(106 ÷ 100) * 87500 = $92750.
On this $92750, there's a closing cost of $1200,
Add $92750 + $1200 = $93950.
$93950 to the nearest hundred will be $94000.
Natalie should make the final sale price $94000 in order to make a profit of %25.
