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kipiarov [429]
3 years ago
14

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

ut the only boots on hand are display models. There's no inventory for sale and customers go home empty-handed-at least initially. Customers browse the store, mixing and matching design components such as style, color, and leather type. About 100 display boots provide style guidelines. Once you choose a boot style, you select materials, colors, and textures. Custom Foot guarantees your boots will be ready within three weeks. This is an example of________
Business
1 answer:
sergeinik [125]3 years ago
8 0

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.

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Cody Company wants to purchase an asset that costs $150,000. The full amount needed to finance the asset can be borrowed at 12%
Sonja [21]

Answer:

Cody Company

a. The total annual loan payment (including interest and principal) is

= $36,483.86

b. The total interest to be paid in year 4 is:

= $10,515.37

Explanation:

a) Data and Calculations:

Amount of loan to finance asset = $150,000

Interest rate on the financing = 12%

Period of loan = 6 years

From an online financial calculator:

N (# of periods)  6

I/Y (Interest per year)  12

PV (Present Value)  150000

FV (Future Value)  0

Results

PMT = $36,483.86

Sum of all periodic payments $218,903.15

Total Interest $68,903.15

Schedule of Annual Payments and Interests

Period         PV         Annual PMT              Interest                 FV

1        $150,000.00        $-36,483.86         $18,000.00          $131,516.14

2         $131,516.14         $-36,483.86          $15,781.94          $110,814.22

3        $110,814.22         $-36,483.86          $13,297.71          $87,628.07

4       $87,628.07          $-36,483.86         $10,515.37         $61,659.58

5       $61,659.58          $-36,483.86           $7,399.15         $32,574.87

6       $32,574.87          $-36,483.86          $3,908.98                  $0.00

6 0
2 years ago
What explanation might an economist provide why some people smoke cigarettessmoke cigarettes when such behavior can lead to heal
vlada-n [284]

What explanation might an economist provide why some people smoke cigarettes when such behavior can lead to health​ consequences?

Some people likely smoke cigarettes because they overvalue the utility from current choices. Although these people know they are smoking cigarettes which can lead to cancer, the benefits they feel they are receiving from them are valued higher than the consequences they may receive.

4 0
3 years ago
Who can sign a determination and findings justifying the use of an award-fee contract
Elodia [21]

A person that in at least one level higher than the contracting officer is allowed to sign a determination and findings justifying the use of an award-fee contract. An award fee contract is defined as additional profit or fee aount that is awarded based on evaluations during different periods of time for contractors on their performance. This type of evalution is done based on the specific company and their needs.  

3 0
3 years ago
Presented below is a list of costs and expenses usually incurred by Barnum Corporation, a manufacturer of furniture, in its fact
andreev551 [17]

Answer:

Explanation:

We know that

The manufacturing overhead would be comprised of

= Factory utilities + Depreciation on factory equipment + Property taxes on factory building + Indirect factory labor + Indirect materials + Factory repairs+ Factory manager salary + insurance on factory machine

The direct material would be the material which are used to make the product or we can say it would be directly related to the product

And, the direct labor includes the labor part which are making the products and in return they received the wages

So, the categorization is shown below:

1. salaries for assembly line inspectors  - Direct labor or manufacturing overheads

2. insurance on factory machine  - manufacturing overheads

3. property taxes on the factory building  - manufacturing overheads

4. factory repairs  - manufacturing overheads

5. upholstery used in manufacturing furniture  - Direct material

6. wages paid to assembly line workers  - Direct labor

7. factory machinery depreciation  -  manufacturing overheads

8. glue,nails,paint, and other small parts used in production  -  manufacturing overheads

9. factory supervisors salaries  -  manufacturing overheads

10. wood used in manufacturing furniture - Direct material

7 0
3 years ago
Helpppp !!!
seropon [69]
B) Marketing Research
5 0
2 years ago
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