Answer:
What is the difference between marketing and merchandising? How do each of these concepts fulfill a different function in the business world? Explain and provide a real-world example of each.
Answer:
16.31 times
Explanation:
The computation of the inventory turnover is shown below:
Inventory turnover ratio = Cost of goods sold ÷ average inventory
where,
Cost of goods sold is $20,720
And, the average inventory is $1,270
So, the inventory turnover ratio is
= $20,720 ÷ $1,270
= 16.31 times
All other information that is given in the question is not relevant. Therefore, we ignored it
B. demand and supply both decrease, leaving price essentially unchanged.
Answer:
D) the availability heuristic
Explanation:
- An availability heuristic is also called availability bias and is a state of mental short cut that depends on the immediate examples to person mind when elevating a person concept, topics, method or decision. Thus forms an important component of the salesperson that tends to portray a situation that helps them to sell homeowners' policies.
Answer:
Profit margin = $3 per unit
Explanation:
<em>The profit margin earned is the difference between selling price and the manufacturing cost</em>
Manufacturing cost per unit = variable cost + fixed overhead cost per unit
overhead absorption rate = estimated overhead/estimated machine hours
=$220,000/20,000 machine hours
= $11 per hour
Manufacturing cost per unit = 2 + (11 × 2) = $24 per unit
Profit margin = 27 - 24
= $3 per unit
