An increase in the price of a product will reduce the quantity demanded for that product because quantity demanded to increase. The process of figuring out a product's quantitative value based on both internal and external elements is called product pricing. Product pricing directly affects your company's entire success, including cash flow, profit margins, and client demand.
Follow these three procedures to get the selling price per unit for your product: Determine the total cost of all the items you bought. The cost price is obtained by dividing the entire cost by the total number of units purchased. To determine the final selling price, use the selling price formula.
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Answer:
$2,500
Explanation:
Bramble Corp., Inc
Purchase the component part externally $59,000 - $4,000
=$55,000
Direct Materials $23,000
Direct Labor $3,500
Variable Overhead $26,000
Total $52,500
Hence:
$55,000 -$52,500
=$2,500
Therefore the correct make-or-buy decision will be $2,500
<u>Full question:</u>
There are approximately 1 billion people living in India. Only about 200 million of these people earn more than the equivalent of $1,000 per year. According to Maslow's hierarchy, most of the other 800 million Indian consumers are primarily addressing their __________ needs.
a. social
b. esteem
c. psychological
d. physiological
e. Personal
<u>Answer:</u>
According to Maslow's hierarchy, most of the other 800 million Indian consumers are primarily addressing their physiological needs.
<u>Explanation:</u>
Abraham Maslow's 'Hierarchy of Needs' offers a five-stage design of the impulses following human behavior. At the base of this hierarchy endure our primary, survival-ensuring necessities, which Maslow pointed to as our physiological needs. If certain needs are not convinced the human body cannot function optimally.
The primary physiological needs are fairly apparent—these cover the items that are essential to our survival. To progress over the other stages of the hierarchy, we necessity primary perform these primary needs.
Answer:
- Standard deviation: $14,400
Explanation:
<u>1. Mean of the annual income:</u>
The mean income is the expected income, which is: the sum of the annual salary (constant) plus the 8% of the mean value of the orders ($600,000):
- Mean annual income = $6,000 + 8% × $600,000 = $6,000 + $48,000 = $54,000.
<u>2. Standard deviation of the annual income.</u>
The standar deviation is a measure of how extended the values are.
It means that the annual value of the orders will be around the mean plus or minus a number of standard deviations, depending on the precision you want.
The 8% of the the standard deviation is 8% × $180,000 = $14,400.
Since the $6,000 is a constant it does not modify the standard deviation.
These results are a consequence of the linearity of the mean and the standard deviation.
Call Y the salesperson salary, and X the valueof the orders. Then:
The linearity property states that:
- Mean of Y = 8% × (mean of X) + 6,000
And:
- Standard deviation of Y = 8% × (Standard deviation of X).
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