Food business. It is the best example or entrepreneurial activity that anyone is capable of doing which is related to cooking. If you like baking, you can put up a bake shop, or cookie shop.
Answer:
a. continuous improvement
Explanation:
This is the ideal explanation of continuous improvement or (KAIZEN). The ideology of continuous improvement was brought forward by the JAPANEESE philosophy of KAIZEN, which means continuous improvement which is also a momentous aspect of total quality management (TQM). According to this philosophy businesses need not only bring strategic improvements and/or changes but must build a culture of continuous improvement of each and every aspect of a business. And such a culture must come from the top of the management.
Through continuous improvement a business can make significant cost reductions. For example through training the workforce, the efficiency and quality of work can be improved, similarly, through continuous value engineering (identification of valuing adding features and/or activities and eliminating non-value adding features and activities) one can achieve significant cost advantages in the long-run.
A service company does not have any inventory held for sale, while a merchandising company does have merchandise for sale.
<h3>What is a service company?</h3>
This is the term that is used to refer to the type of business that is known for the services that they provide in a given economy instead of the provision of physical goods for the consumers that are in the economy.
Hence we can say that A service company does not have any inventory held for sale, while a merchandising company does have merchandise for sale.
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Answer: Mortgage
Explanation: Mortgage is a legal debt instrument signed by a borrower to the lender for credit to purchase a property.
Mortgage is a secured loan which the security is the property being bought.
On the event of non payment of the loan, the property is sold and money realised is used in paying the lender the principal amount as well as accrued interest on the loan.
Answer:
Total cost= $204,750
Explanation:
Giving the following information:
Fixed costs: supervisor’s salary $3,000; factory rent $6,500
Mixed costs: utilities $3,500 + $10.25 per unit
Variable costs per unit:
manufacturing labor wages $30.00
supplies used in production $13.50
packaging cost $7.25
warranty cost $4
Required: Compute total costs to be incurred for a week with 2,950 units of activity.
Fixed costs= 3,000 + 6,500 + 3,500= $13,000
Variable costs= (10.25 + 30 + 13.5 + 7.25 + 4)*2,950= $191,750
Total cost= $204,750