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Alex17521 [72]
3 years ago
13

Midwest Corporation has provided the following data concerning manufacturing overhead for 2020:

Business
1 answer:
SSSSS [86.1K]3 years ago
4 0

Answer:

Estimated manufacturing overhead rate= $18 per direct labor hour

Explanation:

Giving the following information:

Estimated manufacturing overhead for the year $ 37,080

Estimated direct labor hours for the year 2,060

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 37,080/2,060

Estimated manufacturing overhead rate= $18 per direct labor hour

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Custom Foot operates six retail locations. At first glance, none looks any different from your basic old-fashioned shoe store, b
sergeinik [125]

Answer:

This is an example of mass customization

Explanation:

Mass customization is a business concept that involves mass manufacturing products that meet individual consumer wants and needs. It combines flexibility and personalization of unique made products with the low unit costs associated with mass production. It is sensitive to customer preferences with standardisation of processes, and the customer satisfaction that comes with owning a custom product.  

Custom Foot offers a basic package for their boots and shoes, and then offer customers a variety of features they can add or subtract. With this, they can provide alternatives for modifying a product without the costs associated with making a 100 percent unique product.

8 0
3 years ago
When they first started to conduct business, international ride-sharing companies such as Uber or Lyft relied on new, unfamiliar
kobusy [5.1K]

Ride sharing is transformational innovation, according to the innovation matrix.

Uber and Lyft use transformational innovation

  • Transformational innovation includes making discoveries and creating products for the market.
  • Companies like Uber use credit and debit cards for reservations, a novel tactic.
  • Such ideas were virtually unknown to markets in many nations.
  • In some markets, it gave businesses like Uber a competitive edge.

To learn more about transformational innovation, refer to-

brainly.com/question/17517143

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5 0
2 years ago
. How does analyzing fixed and variable costs help you to set a sale price that will generate profit? 2. How is profit affected
ELEN [110]

Answer:

1. Apart from helping to know the average cost of a product, analyzing fixed and variable cost will help to derive the break even point.

2. Profit will go down

Explanation:

1. The size of the selling price and the variable cost determine contribution per unit of a product. Contribution per unit is Price minus variable cost. This shows the  contribution of sales revenue towards covering the fixed cost of a product.

2. Relevant range is the estimated or budgeted activity level which defines a business volume of production or operation, it is both maximum and minimum threshold within which the entity must operate to expect certain level of cost and revenue.

Sometimes fixed costs are fixed within a relevant range of activities and outside such range, fixed cost may become variable, which will all things being equal impact negatively on the price.

Also, within relevant range volume discount may be achieved and outside such range, this may be forfeited which, will also reduce profit all things being equal.

4 0
3 years ago
When the demand curve shifts to the left and all else is held constant, the equilibrium price ________ and the equilibrium quant
rewona [7]

When the demand curve shifts to the left and all else is held constant, the equilibrium price <u>falls</u> and the equilibrium quantity <u>falls</u>.

<h3>The types of chart.</h3>

In Economics, there are two main types of chart that can be used to illustrate the relationship between the total quantity of goods or services that are demanded by consumers and the total quantity of goods or services that were supplied by a manufacturer (producer) at a particular price and these include the following:

  • Supply schedule
  • Demand schedule

<h3>What is an equilibrium?</h3>

An equilibrium can be defined as the point on a supply and demand chart where the demand curve and the supply curve intersect.

In conclusion, the equilibrium price and the equilibrium quantity would <u>fall</u> when the demand curve shifts to the left and all else is held constant.

Read more on equilibrium here: brainly.com/question/2000166

#SPJ1

6 0
2 years ago
Which activity is an example of a time-based goal? A. Catherine plans to learn to play the guitar in the next few years. B. Davi
frez [133]

Answer: C. Farah wants to obtain her college degree in four years

A time bound goal has a specific, measurable time-frame within which a specific goal has to be achieved; it can also set as a specific target to be achieved at periodical intervals.

Amongst the options given, only option C has a specific, measurable and well-defined time frame within which a specific goal is set to realized.


6 0
3 years ago
Read 2 more answers
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