Answer:
expected profit = $6600
Explanation:
given data
cost of the regatta = $9,000
profit = $15,000
probability of rain = 0.35
to find out
the producer's expected profit
solution
we know that expected profit is express as
expected profit = profit if no rain - loss if rain ..................1
put here value as here
expected profit = profit if no rain - loss if rain
expected profit = (100 - 35 % ) × $15000 - 35% × ($9000)
expected profit = $6600
Answer:
$196,000
Explanation:
Given that,
Direct materials, = $7 per unit,
Direct labor, = $5 per unit,
Variable overhead, = $6 per unit
Fixed overhead = $350,000
Total variable cost per unit:
= Direct Material per unit cost + Direct Labor per unit cost + Variable Overhead per unit cost
= $7 + $5 + $6
= $18
Fixed cost overhead rate per unit:
= Fixed overhead ÷ Units produced
= $350,000 ÷ 35,000
= $10
Cost per unit as per Absorption costing:
= Fixed cost overhead rate per unit + Total variable cost per unit
= $10 + $18
= $28
Value of Ending Inventory:
= units in inventory at year-end × Cost per unit
= 7,000 × $28
= $196,000
Describe the current global strategy and provide evidence about how the firm’s resources and competencies support the pressures regarding costs and local responsiveness. Describe entry modes they have usually used, and whether the modes are appropriate for the given strategy is described below
Explanation:
Global Strategy’ is a shortened term that covers three areas: global, multinational and international strategies. Essentially, these three areas refer to those strategies designed to enable an organisation to achieve its objective of international expansion.
In developing ‘global strategy’, it is useful to distinguish between three forms of international expansion that arise from a company’s resources, capabilities and current international position.
Implications of the three definitions within global strategy:
International strategy: the organisation’s objectives relate primarily to the home market.
Multinational strategy: the organisation is involved in a number of markets beyond its home country. But it needs distinctive strategies for each of these markets because customer demand and, perhaps competition, are different in each country. Importantly, competitive advantage is determined separately for each country.
Global strategy: the organisation treats the world as largely one market and one source of supply with little local variation. Importantly, competitive advantage is developed largely on a global basis.
Answer:
c. It is transferred out of raw materials into manufacturing overhead when used.
Explanation:
Indirect materials are those that are necessary and that are used in the elaboration of a product, but are not easily identifiable or that do not merit control over them and are included as part of the indirect manufacturing costs as indirect materials.
Answer:
Yes.
Explanation:
Market rate of exchange of jello for pie:
= Price of a piece of apple pie ÷ Price of jello
= $3.75 ÷ $1.25
= 3.00
At his current consumption point, Nick's marginal rate of substitution (MRS) of jello for pie = 3
Since MRS = Px/Py, hence, at this point of consumption bundle he is having a maximum level of utility.
Therefore, there is no need to change his consumption bundle because he is already at his maximum level.
