Answer:
D. The amount of one product that must be given up to produce one more unit of another product.
Explanation:
Opportunity cost is defined as the potential benefits that you would recieve if you choose one option over another. This is an economic term that can easily be applied in our day to day lives: Ex. When you choose to study over work, the opportunity cost is represented by the money you could earn as payment for your work.
In business, companies must decide whether they produce a wide range of products or services or if they focus their resources in producing those products in which they are more efficient and would represent higher earnings.
Answer: Inventory Management System
Explanation:Inventory Management System is a system whereby an organisation manages its inventory system. It uses a computer software that tracks its inventory levels as well as manages the stock level of products.
This type of system is usually used by a supermarket chain store where all its products are imputed into the system and it uses other machines line the scanners to check the outflow of each item.
By using the inventory management system, stock management is well taken care of.
Answer:
202%
Explanation:
Calculation to determine what the company's overhead application rate is
First step is to calculate the Total manufacturing overhead using this formula
Total manufacturing overhead = Overhead rate - Direct material cost - Direct labor cost
Let plug in the formula
Total manufacturing overhead =5220 - 2,200 - 1000
Total manufacturing overhead =2020
Now let determine the overhead application rate using this formula
Overhead application rate=Total manufacturing overhead/Direct labor cost
Let plug in the formula
Overhead application rate=2020/1000*100
Overhead application rate=202%
Therefore, the company's overhead application rate is:202%
That statement is False
Often time, you will have to faced some problems that will messed up your personal action plans.
in that case, you need to adjust your personal action plans so you can stick to your goal, that's why it have to be flexible and can be modified
