The following are two independent situations.

Kay and Jenny's, a restaurant, implements a new system that identifies and gathers information about its regular customers. It r

Elena L [17]

Answer:

Customer relationship management (CRM)

Explanation:

Customer relationship management can be defined as a set of technologies, strategies and practices related to a business, whose main objective is to focus on the relationship with the customer.

The information age has revolutionized the way companies relate to their customers, nowadays digital media and new technologies have enabled greater interactions between company and customer, which created a need for companies to also seek corporate strategies and technologies that would bring relevant benefits for business success. Some of the CRM platforms enable companies to gather information from customers in order to manage sales opportunities and leads, in addition to organizing accounts and contacts in an accessible way and optimizing and accelerating the sales process.

5 0

3 years ago

Authentic Thai rattan chairs are delivered to Gary Schwartz's chain of retail stores, called The Kathmandu Shop, once a year. Th

Ugo [173]

Answer:

The optimal quantity of safety stock which minimizes expected total cost is _ units is 100 units.

Explanation:

Incremental Costs would be considered here to evaluate which safety stock level is the best for the company.

The working is as under:

Safety Stock Carrying Cost Stock-out Cost Total Cost

0 0 (100*0.2 + 200*0.2) * 80 4,800

100 100*30 = $3000 (100 * 0.2) * 80 1,600

200 200*30 = $6000 (200 * 0.2) * 80 3,200

The total cost has started growing as the safety starts growing above the 100 units level. This means that the safety stock must be 100 units as the cost at this level is the lowest to the company.

5 0

3 years ago

Gundy Company expects to produce 1,299,600 units of Product XX in 2017. Monthly production is expected to range from 73,600 to 1

SCORPION-xisa [38]

Monthly Flexible Manufacturing Budget

For the Year 2017

Activity level

Finished units 73,600 96,200 118,800

Variable costs

Direct materials($3) $220,800 $288,600 $356,400

Direct labor($6) $441,600 $577,200 $712,800

Overhead($9) $662,400 $865,800 $1,069,200

Total variable costs $1,324,800 $1,731,600 $2,138,400

Fixed cost

Depreciation[($6 * 1,299,600) 12] $649,800 $649,800 $649,800

Supervision[($2 * 1,299,600) / 12] $216,600 $216,600 $216,600

Total fixed costs $866,400 $866,400 $866,400

Total costs $2,191,200 $2,598,000 $3,004,800

See similar solution here

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5 0

3 years ago

On December 1, 20x1 Pimlico made sales to a customer in India and recorded Accounts Receivable of 10,000,000 rupees. The custome

Mashcka [7]

Answer:

Total value (5,400)

Explanation:

10,000,000 rupees

option to sale ruppes at $2.30

2.3

The spot rate was 2.80

Option Premium:

10,000,000 / 100 x 0.004 = 400

Stop difference:

(2.80 - 2.30) x 10,000,000 / 100 = 5,000

Total value (5,400)

3 0

3 years ago

If the marginal cost of production is greater than the average cost, in what direction must the average cost be changing, if any

ziro4ka [17]

Answer:

b) The average cost must be rising.

Explanation:

Assuming that the entity produce 4 units and its total cost is $16 so average cost per unit is $4 and now the same entity has produced the 5th unit at $5 so the average cost now per unit is (16+5)/5=$4.2

So based on the above discussion, it can be concluded that average cost increase when the marginal cost of production is increased.

So the answer is b) The average cost must be rising.

6 0

3 years ago