Answer:
Value Proposition
Explanation:
Value proposition is the a promise to customers that the benefit that we saying our product possesses over other competitors will be received by you if you buy our product. It provides the reasoning to the customers why they should buy our products. So the right option is VALUE PROPOSITION because the question says that the firm tries to take the customers from the market by telling them what benefits and uniqueness the product will offer you above other competitor's products.
The best ways is to fill in the opening balance in the vendor details dialogue box. This method is quick, and one may finish it when one create the vendor.
The Vendor Balance Summary report summarizes the company's obligations and overpayments to certain vendors. The overarching goal of this report is to identify accounting irregularities. View the Vendor Balance Detailed report for further information on the vendor's balance.
The following information is included in the report:
- Vendor: Either the vendor indicated in the preceding filtering choices or all suppliers accessible to the firm.
- Balance: The amount owed to a certain vendor or the credit/overpayment amount (marked with brackets).
- Totals: The total amount owed or payed to the suppliers listed.
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Answer: The options are given below:
A. Use of a single predetermined overhead rate.
B. Use of direct labor hours or direct labor cost to assign overhead.
C. Assumption of correlation between direct labor and incurrence of overhead cost.
D. Use of multiple cost drivers to allocate overhead.
The correct option is D.
Explanation: The traditional costing system refers to the allocation of factory overhead to products, and this is based on the total amount of production resources that have been consumed.
When using the traditional costing system, the overhead is usually applied based on either the total number of direct labor hours consumed or the total number of machine hours used.
The traditional costing systems treat overhead costs as a single pool of indirect costs. Traditional costing is optimal when indirect costs are low when in comparison with direct costs.
Solution :
Amy can only change the number of workers. As the fixed input cannot be changed in the short run, so in the short run, the workers are the variable inputs and the ovens are the fixed inputs.
a). Marginal Product of labor
No. of workers The Output The Marginal product of labor
0 0 ---
1 60 60
2 100 40
3 130 30
4 150 20
5 160 10
The marginal product of the labor is the change in the quantity i.e pizza as Amy hires an additional worker.
1 worker raise the output to 100, so the marginal product of labor of 1 worker is 100 and so on. The marginal product of the labor = change in the output / change in the number of workers.
b).
No. of workers The Output The Fixed cost The Variable cost Total cost
0 0 20 0 20
1 60 20 30 50
2 100 20 60 80
3 130 20 90 110
4 150 20 120 140
5 160 20 150 170
The fixed cost remains the same but the variable cost increases as one more worker is hired.
The law of the diminishing the marginal product of labor is determined by = total output increases at the decreasing rate as we increase the quantity of the labor.
Because they are applicable beyond finance and accounting. In daily life, opportunity costs are the benefits or pleasures foregone by choosing one alternative over another.
