Answer:
While setting the price of a product, managers must consider all of the following: A) cost of the whole marketing mix B) buying capacity of the customers C) profit it should bring the company D) transportation cost E) personnel cost to the company
Explanation:
Key factors in calculating the sale price can be:
- Costs are a major factor in determining the selling price and a way of forming a price that is primarily related to costs called “ground” because it represents the minimum at which the price can be set. It includes cost plus other costs with no projected or minimal profit;
- Demand/buying capacity as a key factor in price calculation is tied to a method called the "ceiling" because capacity exceeds the price limit that customers are willing to accept to get a product or service.
- Competition as a pricing factor refers to alternatives that customers can choose from, and competition allows them to do so;
Cost-based pricing has its sub-methods such is Cost plus method
The basic principle is to add a rate of profit to the sum of direct and indirect costs. This way price consider a profit to it should bring to company.
Direct costs include material and labor costs, and indirect or general costs comprise a portion of fixed indirect costs such as depreciation, administration costs, sales costs and other general costs.
Formula: price = Direct costs + Indirect costs + Rate of profit
The Parent taxpayer is entitled to the earned income credit
<u>Explanation:</u>
The federal income tax credit or income credit in the United States is a refundable tax credit, particularly those with children, for low- to moderate-income working individuals and couples. The EITC benefit amount depends on the income of the recipient and the number of children.
The EITC benefits low to reasonable-income parents but offers very little assistance to workers without eligible children (often referred to as childless workers). Income tax credit (EITC). Workers earn a loan up to a limit of one percent of their income.
Explanation:
Strategic management is an evolution and a destination due to the fact that the organizational strategy is developed in pursuit of objectives and goals. This means that action plans for achieving goals can be changed according to internal or external interference.
A company's strategy is not inert, so strategic management will be carried out according to the market situation, the internal environment and other variables, so that there is monitoring, organization and strategic coordination of the company according to its environment.
Answer: 1 E, 2 C, 3 A, 4 F, 5 D, 6 B
Explanation:
Purchase requisition - A document used by department managers to inform the purchasing department to place an order with a vendor.
Purchase order - A document used to place an order with a vendor that authorizes the vendor to ship ordered merchandise at the stated price and terms.
Invoice - An itemized statement of goods prepared by the vendor listing the customer's name, items sold, sales prices, and terms of sale.
Receiving report - A document used to notify the appropriate persons that ordered goods have arrived, including a description of the quantities and condition of the goods.
Invoice approval - A checklist of steps necessary for the approval of an invoice for recording and payment; also known as a check authorization.
Voucher - An internal file used to store documents and information to control cash disbursements and to ensure that a transaction is properly authorized and recorded.
Answer:
The correct answer is $23,430.
Explanation:
According to the scenario, the given data are as follows:
Total actual revenue = $1,700,000
Irvine Center actual revenue = $561,000
Advertising cost = $71,000
So we can calculate the amount of advertising that would be allocated to the Irvine center by using following formula:
Advertising Cost allocated = (Irvine Center actual revenue × Advertising cost) ÷ Total actual revenue
By putting the value, we get
= ($561,000 × $71,000) ÷ ( $1,700,000)
= $23,430.
