Dividing a fixed number of units among product categories to reflect relative preference is using a method called

1. Why is it important for a restaurant to identify a specific target market?

san4es73 [151]

Answer:

1. Why is it important for a restaurant to identify a specific target market?

Restaurants operate on a monopolistically competitive market, that means that a lot suppliers offer differentiated products to a lot of consumers. Therefore, it is important to identify your target market in order to know who you are going to cater in your menus, and marketing activities.

2. How has the Internet made restaurant marketing cheaper and more convenient?

Before restaurants used to print fliers and advertise on newspapers or other mass media outlets which is really expensive. Now with the internet, marketing activities (e.g. emails) are much cheaper and faster to carry out.

3. Why are specials and promotions such effective marketing tools in today's economy?

Competition has increased a lot in the past in every single industry, including restaurants, since people worry more about how they spend there money and more information is available about the different prices of restaurant menus.

4. Explain the difference between primary market research and secondary market research.

Primary market data is information a company obtains by itself through some type of research study, e.g. surveys, focus groups, etc. While secondary data is information obtained by other sources, e.g. census, world atlas, etc.

5. Explain why a public relations campaign is necessary.

Public relations campaigns are necessary in order to keep a positive and high reputation, so that the restaurant gets positive press. Bad things go viral instantly now, and it is really hard to deal with them.

5 0

3 years ago

Premium on Bonds Payable_________.

Tatiana [17]

Answer:

c. is considered to be a reduction in the cost of borrowing.

Explanation:

The premium on bond payable arise when the bond payable is issued more than the face value. It is a liability account consist of the credit balance that is presented on the liability side of the balance sheet

Moreover, it is deducted in the borrowing cost and amortized as an interest expense to the bonds life. It is added to the bond payable

Hence, the correct answer is c.

3 0

3 years ago

The new car you just purchased cost $25,499. You have saved $3,240 for the down payment (made at the time of purchase) and will

tamaranim1 [39]

Answer:

The correct option is |(45) = $41.54, P(45) = $319.52

Explanation:

Loan amount = Price - Down payment = $25499 - $3240 = $22259

Monthly interest rate = i = 5.25%÷ 12 = 0.004375

Number of installments = n =72

Monthly installment=$22,259 × (A/P,0.004375,72)

Calculating the interest factor;

$\small (A/P,i,n)=\frac{i}{1-\frac{1}{(1+i)^{n}}}$

$\small (A/P,0.004375,72)$ = $\frac{0.004375}{1-\frac{1}{(1+0.004375)^{72}}}$ = 0.0162212

So,

Monthly installment=$22259 × 0.0162212= $361.0677

Now let us calculate the balance after 44th payment

B(44)= [$22,259 × (F/P,0.004375,44)] - [$361.0677 × (F/A,0.004375,44) ]

Calculating the interest factor;

(F/P,0.004375,44) = $(1+0.004375)^{44}$ = 1.2117676

$\small (F/A,i,n)$ = $\frac{(1+i)^{n}-1}{i}$

$\small (F/A,0.004375,44)$ = $\frac{(1+0.004375)^{44}-1}{0.004375}$ = 48.4040257

So,

B(44)= [$22,259 × 1.2117676] - [$361.0677 × 48.4040257] = $9495.6532

So, interest for 45th payment = I(45) = Balance due × Monthly interest rate

=9495.6532 ×0.004375

= $41.54

Principal associated with 45th payment=Monthly installment-Interest payment

=$361.0667 - $41.5435

= $319.5232

≅$319.52

6 0

4 years ago

Consider a product with a daily demand of 400 units, a setup cost per production run of $100, a holding cost per unit of $24.00,

Sedaia [141]

Answer:

a 1,560 units

b 780 units

c 390 units

d $18,720

e $9,360

Explanation:

Given that;

Production = 292,000

Daily demand , d = 400

Annual demand , D = 400 × 365 = 146,000

Production rate , P = 292,000 ÷ 365 = 800

Set up cost , Cs = $100

Holding cost , Ch = $24

a. What is the production order quantity

= √2 * D * Cs / CH × (p / p - d)

= √ 2 * 146,000 * 100/24 × (800/800-400)

= √1216666.6667 × 2

= √2433333.3334

= 1559.91

=1,560 units approximated.

b. What is the maximum inventory on hand

= EPQ × [ 1 - (d÷p) ]

= 1,560 × [ 1 - (400 ÷ 800) ]

= 1,560 × 0.5

= 780 units

c. What is the average inventory

= Maximum inventory ÷ 2

= 780 ÷ 2

= 390 units

d. What are the total holding costs

= EOQ/2 * Holding cost

= 1,560/2 * 24

= 780 *24

= $18,720

e. What does it cost to manage the inventory

= Holding cost * (Maximum inventory ÷ 2)

= 24 * (780 ÷ 2)

= 24 * 390

= $9,360

8 0

3 years ago

Assume that Global Cleaning Service performed cleaning services for a department store on account for $180. How would this tran

Ierofanga [76]

Answer:

D. Increase both assets and equity by $180

Explanation:

When a service is done on account, revenue will be recognized but the corresponding assets is accounts receivables and not cash. Hence the transaction will increase the company's revenue and assets balances . Revenue is turned into equity through retained earnings.

The accounting equation is

assets = liabilities + equity

This transaction will increase assets and equity be $180 each.

5 0

3 years ago