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3 years ago

When considering marketing's place in the economy, what is the most important role the marketing function plays?

Business

1 answer:

poizon [28]3 years ago

5 0

Answer:

B. Creating value for customers.

Explanation:

Marketing is all about building values for customers. Its about creating customer relationships which are profit generating. Any company or brand has a value proposition. It is the set of benefits the company promises to deliver to the consumer to satisfy his/her needs. Thus marketing is the bridge which connects the brand with the customers perceived value of the brand. It makes sure the customer pledges loyalty to the brand, by delivering on its promises on the value proposition. Thus, the most important role that marketing plays in the economy is Creating Value for Customers.

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epartments have estimated annual factory overhead costs of $256,000 and $480,000, respectively. The Fabrication Dept. expects 25

Phoenix [80]

Answer:

Factory overhead cost charged to each unit:

Fabrication Assembly

Factory overhead rates $10.24 $0.81

Machine hours per unit 5

Direct labor cost per unit $118.40

Factory overhead cost per unit $51.20 $95.90

Explanation:

a) Data and Calculations:

Fabrication Assembly

Annual overhead costs $256,000 $480,000

Expected machine hours 25,000 0

Expected direct labor costs 0 $592,000

Overhead rates $10.24 $0.81

($256,000/25,000) ($480,000/$592,000)

Assuming number of units produced = 5,000

Each unit will consume 5 (25,000/5,000) $118.40 ($592,000/5,000)

machine hours direct labor cost

Overhead cost per unit = $51.20 $95.90

($10.24 * 5) ($118.40 * $0.81)

5 0

3 years ago

When creditors, managers, and investors look at expenses as a percentage of revenue, they are __________.

sineoko [7]

Answer:

Doing a financial statement analysis.

Explanation:

Financial statements can be defined as a document used for the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors. These includes balance sheet, statement of retained earnings and income statement.

Financial statement analysis can be defined as the process of analyzing, estimating and reviewing the financial statements of a business firm or organization in order to make better economic decisions and profits in the future.

Hence, when creditors, managers, and investors look at expenses as a percentage of revenue, they are doing a financial statement analysis.

7 0

3 years ago

Love Company’s accounting records show an after-closing balance of $42,100 in its Retained Earnings account on December 31, 2018

konstantin123 [22]

Answer and Explanation:

Closing Balance (Retained earning ) of 31 Dec 2018 is called Opening Balance of 1 Jan 2019 , i.e. $42,100

There is no particular information provide for 1 Jan 2018 .So, assume there is Zero balance of retained Earning

Calculation of retained earning of 31 Dec 2017

Retained earning $42,100

Less: revenue during the year $19,400

Add: Expenses During the year $9,800

<u>Add : Dividend $500 </u>

Retained earning on 31 Dec 2017 $33,000

Retained earning is a temporary account So, $33,000 is balance of Retained earning At 30 June 2018.

4 0

3 years ago

Hope College is planning for the next biennium. School administrators know that the enrollment is on the decline, but still need

Alekssandra [29.7K]

They can accomplish this through early retirement.

<h3><u>Explanation:</u></h3>

Early retirement is a way that we use to stop or discontinue something. Most of the aged person tends to choose early retirement for the purpose of achieving the benefits form the organisation to the most possible level. This decision can be taken when we know that the organisation will be closed in the near future and continuing work will not benefit us.

When we decide for the early retirement the befits that we attain from that will be more than the benefit that are obtained in continuing work. In the given example, Hope college has a plan for next biennium. But, the enrollments are reduced in number and they want to reduce the payroll slowly. Thus this can be accomplished with the help of early retirement.

7 0

3 years ago

For 2020, your company planned on selling 10,000 units of its highest priced product - Fish Sticks, which is also its highest ma

Eddi Din [679]

Answer: Negative Sales Mix Variance

Explanation:

With regards to the above question, the company has a negative sales mix variance. First and foremost, we should know that the sales mix variance simply has to do with the difference between the actual sales mix and the budgeted sales mix of a company or organization.

From the question, there'll be negative sales mix variance and this will bring about a reduction in the revenue of the company as the budgeted sales will be lesser than actual sales. Therefore, Profit also reduces.

6 0

3 years ago