Answer:
Reserves
Explanation:
Risk is any uncertain event with positive or negative consequences on a project. Contingency costs are related to risks, and therefore cannot be disregarded in risk management within a project. It is essential that management plan and prevent for the project to occur in a predictable and effective manner.
Answer:
The producer is experiencing diminishing marginal product.
Explanation:
The law of diminishing return explains that every additional unit consumed will have less utility/return than the previous one. Same is the case with labor productivity. The first unit of labor will yield maximum return, every additional unit will result in lesser return/productivity than the previous unit. The will continue up to the point of maximum return. After that point adding additional resources will yield less total output.
Answer:
1. Income Statement for Digital Vibe Manufacturing company
For the Month ended January 31
Sales 875,000
Cost of goods sold 525,000
Gross Profit 350,000
Operating Expenses:
Selling expenses 125,000
Administrative expenses 80,000
Total Operating expenses <u>205,000</u>
Net Income <u>$145,000</u>
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B.
1. Ending material inventory = Material purchased - Used material in production
= 168,500 - 149,250
= $19,250
2. Ending work in Process inventory = Material used in production + Direct labor + Factory overhead - Transferred of work in process to finished goods
= 149,250 + 360,000 + 120,000 - 600,000
=$29,250
3. Ending finished goods inventory = Transfer from work in progress - Cost of goods sold
= 600,000 - 525,000
= $75,000
Answer:
a. have performance attributes that are difficult to ascertain at the moment of purchase
Explanation:
In case of an experience good, it is difficult to make predictions regarding its price and quality.
The reputation of a seller and word of mouth are the important things that customers can use to make decisions regarding purchasing of the product.
Experience goods are those which have performance attributes that are difficult to ascertain at the moment of purchase
According to McGregor's Theory Y method, a manager might think that workers ought to be involved in both problem-solving and problem-definition.
One of the theories that has a significant impact on both management and employees is McGregor's theory. Additionally, McGregor's descriptions of two different theories, namely Theory X and Theory Y, are further explained below along with each theory's central tenets.
According to Theory Y, a manager's positive perception of their team problem-solving members will increase employee motivation. Managers erroneously McGregor's Theory Y believe that a decentralized approach that strengthens teamwork, collaboration, and trust can address employee demotivation.
Contrary to Theory X, this theory holds that managers do not believe that problem-solving control motivates workers. The team members must be motivated by McGregor's Theory Y meeting their needs for social interaction, self-actualization, and self-esteem.
Learn more about McGregor's Theory Y here
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