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3 years ago

Dealing with the fact that certain aspects of any management situation are more important than others is called

Business

1 answer:

luda_lava [24]3 years ago

3 0

Answer:

Recognition of priorities

Explanation:

Management involves planning, organizing, controlling, supervising, a group of people which could be an entire team, workers or some fractions of workers in an environment to achieve organizational goals. An entrepreneur which is among the factors of production is indeed someone who manages, supervise the other factors of production, keeping an environment in which people work and achieve the goals of production.

Management is a profession and as such skill set to recognizing when some aspects of management becomes important than others and when some goals need to be given more attention to achieving the overall organizational goals can describe as Recognition of priorities.

Recognition of priorities brings some other important aspects of management into focus leaving out the less important ones cancelled or put on hold so as to save time and maximize labor efficiency.

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Molander Corporation is a distributor of a sun umbrella used at resort hotels. Data concerning the next month’s budget appear be

DochEvi [55]

Answer:

Margin of safety= 150 units

Margin of safety ratio= 15.9%

Explanation:

Giving the following information:

Selling price per unit $29

Variable expense per unit $18

Fixed expense per month $8,800

Unit sales per month 950

To calculate the margin of safety both in units and as a percentage of sales, first, we need to calculate the break-even point in units.

Break-even point= fixed costs/ contribution margin

Break-even point= 8,800/ (29 - 18)= 800 units

Now, we can calculate the margin of safety in units:

Margin of safety= (current sales level - break-even point)

Margin of safety= (950 - 800)= 150 units

As a percentage of sales:

Margin of safety ratio= (current sales level - break-even point)/current sales level

Margin of safety ratio= 150/950= 0.159= 15.9%

7 0

3 years ago

Read 2 more answers

While negotiating salary with your prospective employer, if you suggest an initial target salary of $55,000, your employer will

PtichkaEL [24]

Answer:

anchoring

Explanation:

The anchoring bias refers to the psychological tendency to favor the first data given to us or the first information that we know.

This applies to situations where you are the supplier of labor or the seller of goods. When you suggest an initial salary, your recruiter or future employer will use the amount you tell him/her as the reference. In this case, since the number is just in between $50,000 and $60,000, the employer will consider that salary range. Instead, if you just change the salary by a small bit, to $55,500, the employer will consider a higher range. Generally employers will try to negotiate down to feel that they made a good deal.

The anchoring bias is usually a very successful sales technique because consumers tend to fix a normal price and compare it to a sales or discount price and believe that the discount is significant.

4 0

4 years ago

Select all that apply When supplies are purchased on credit it means that: (Check all that apply.) Multiple select question. the

kkurt [141]

Answer:

the business will pay for the supplies at a later time

a liability has been incurred.

the Accounts Payable account will be increased.

Explanation:

In the case when the supplies are purchased on credit, the following entry should be passed

Supplies Dr XXXX

To Account payable XXXX

(Being supplies purchased on credit is recorded)

here supplies is debited as it increased the asset and credited the account payable as it also increased the liabilities

So the following options should be chosen

1. The business would pay at a later time

2. Liability is incurred

2. The account payable is increased

8 0

3 years ago

If the product price is $283 the per-unit economic profit at the profit-maximizing output is:________

dusya [7]

The per-unit economic profit at the profit-maximizing output is $112 if the product price is $283.

<h3>How do we calculate profit-maximizing price?</h3>

The rule for calculating a profit-maximizing perfectly competitive firm is to produce the level of output where Price equals the Marginal Revenues= Marginal cost.

Hence, the economic profit is calculated by Total Revenue - (Explicit Costs + Implicit Costs) because it entails the difference between the revenue received from the sale of an output and the costs of all inputs.

Therefore, the per-unit economic profit at the profit-maximizing output is $112 if the product price is $283.