Answer:
Quality control
Explanation:
Six Sigma is a quality business management strategy which helps business organizations to improve the quality of processes, products and services by discovering and eliminating defects, variations or errors. It is a strategic business concept that was developed in 1986 by Motorola.
Under the six sigma approach, any process that doesn't provide customer satisfaction or causes challenges in an organisation's process should be eliminated from the system in order to produce quality products and services. It allows only 3.4 defective features for every million opportunities and as such expects processes to be defect free 99.99966 percent of the time.
Generally, there are two (2) main methods of achieving the six sigma approach;
1. DMAIC: define, measure, analyze, improve and control.
2. DMADV: define, measure, analyze, design and verify.
Hence, a pre-concert rehearsal is an example of quality control because the participants or team members are made to practice their routines so as to master them and prevent mistakes on the day of the concert. Thus, a pre-concert is aimed at getting the best out of a team in order to deliver a quality performance to the audience.
<span>If there's a perfectly competitive market in which no market failure occurs and no government policy interferes with the equilibrium price and quantity, this is what you called deadweight. Deadweight loss in business is described as an inefficiency made in the market because of the demand and surplus matter that creates disadvantages to the society.</span>
Answer:
The answer is c more than $55,000 but less than or equal to $65,000
Explanation:
EOQ = √2DS/H
Demand = 11,000 × 36,000 = 396,000,000
Order Cost = 1$8,000
Holding Cost = 20/100 × 18,000
= 3,600
EOQ = √ 2 × 18,000 × 396,000,000/3,600
EOQ = √ 14,256,000,000,000/3,600
EOQ =√ 3,960,000,000
EOQ = $62,928.53
The answer is more than $55,000 but less than equal to $65,000
Answer:
1. Calculation of the Cost of the Tramel Job
Particulars Amount
Direct material cost $2,300
Direct labor cost $500
Overhead applied <u>$650 (</u>500*130)
Total cost of job <u>$3,450</u>
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2. Particulars Debit Credit
Overhead Cost $1,300
To materials $800
To Labour $500
3. The Cost of the Tramel Job will not be affected
Answer: Decrease demand for the inferior good
Explanation:
Inferior goods are those goods that care consumed by the consumer when his income is too low. That is to say that the demand for an inferior good is negatively related to the income of the consumer. So, when income of the consumer increases, he will reduce his demand for the inferior good.
So, demand decreases as income increases for an inferior good.