Answer:
The manager does not understand the contingency view.
Explanation:
The manager who focuses only on one part of the business then will not understand the contingency view. Here, the contingency view refers to the behavior of the manager to lead every situation or problem in the company. Therefore, to make a decision it is required to focus on all parts of the organization. Since in the question it is given that the manager focus only on one part of the company that means he will be unable to understand every situation of the company.
Answer: c.
In a competitive market, there are many producers competing to provide consumers the products they needed and thus they cannot dictate prices.
If a surplus occurs, there is an excess of quantity supplied and since producers won't be able to sell all their products, they tend or are forced to lower their price.
The reverse happens when there is a shortage. When there is less supply in the market, price increases.
Surplus and shortage in a competitive market, therefore, will cause shifts in the demand and supply curves that tend to eliminate the surplus or shortage.
Answer:
$0.5
Explanation:
A plant's fixed total overhead cost is $500,000 for a year
400,000 widgets are required to be produced for this period
All processes require a 40,000 machine hours and the widgets use 16,000 hours out of the total hours
The first step is to calculate the fixed overhead application rate
= $500,000/40,000
= $12.5 machine-hour
The fixed overhead that is applied to the widgets can be calculated as follows
= $12.5 × 16,000
= $200,000
Therefore, the fixed overhead that is applied to each of the widgets produced can be calculated as follows
= 200,000/400,000
= $0.5
Hence the fixed overhead that is applicable to each widgets is $0.5
