Answer:
Quality
Explanation:
In business terms the quality is the level of service or product meets the customer's expectation. Customer want a good quality product or service in a competitive price. Some customers can compromise on the price factor but they require high quality without any error or defect. So, producing what customer wants is called Quality.
Answer:
Budgeted overhead= $2,877.6
Explanation:
Giving the following information:
<u>Direct labor required:</u>
Production= 870 units
Direct labor hours= 870*0.25= 218 hours
Direct labor cost= $12 an hour
Manufacturing overhead is applied at a rate of 110% of direct labor costs.
<u>To calculate the allocated overhead for the period, we need to use the following formula:</u>
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Direct labor cost= 218*12= $2,616
Allocated MOH= 1.1*2,616= $2,877.6
Answer:
high watermark
Explanation:
A high watermark refers to the mark at which the investment could be reached at a high peak. It to be calculated on that date when the performance fees are charged and it could be charged only on that case when there is a rise in the value of the portfolio
Moreover, in the high watermarks there is no need to pay the performance based fee when there is a poor performance
Therefore the given situation represent the high watermark
Answer:
Yield management pricing
Explanation:
Yield management pricing is the charging of different prices for a given set of capacity at a specific time in order to maximize revenue. This is based on the demand and supply in the market and is very common in industries such as airlines, hotels and resorts. When there is very high demand for airline seats, prices for them are high. However, if some of those passengers decided to refund their tickets, close to departure and the flight would be taking off soon, instead of flying with empty seats and no revenue from them, the airline would decide to sell these same seats at a cheaper rate in order to gain some revenue. This is a form of revenue maximization.
<h2>A control total for hours worked, prepared from time cards collected by the timekeeping department.</h2>
Explanation:
An employee should get salary only based on the number days / number hours worked for the organization. So the time card will help the organization to solve the problem.
So the time card should be collected and then only the salary needs to be calculated. The salary calculation should take number of leaves (paid / unpaid), permissions and On-duty in to account so that the expected outcome can be achieved.
