Answer:
Ski Golf Fishing
Guard Guard Guard
selling price $260 $330 $205
variable cost $120 $180 $135
contribution margin $140 $150 $70
machine time 9 min. 12 min. 11 min.
lbs. of pellets 12 7 11
total machine time is the constraint in the production process
1a)
contribution margin per $933.33 $750 $381.82
machine hour
1b)
ski guard since its contribution margin per machine hour is much higher than the rest of the products
1c)
fishing guard since its contribution margin per machine hour is much lower than the rest of the products
2a)
Ski Golf Fishing
Guard Guard Guard
contribution margin per $11.67 $21.43 $6.36
lbs. of pellets
2b)
Golf guard since its contribution margin per lb. of pellets is much higher than the rest of the products
2c)
fishing guard since its contribution margin per lb. of pellets is much lower than the rest of the products
3)
Golf Guard ($150)
The natural next step to be taken by team engaged in process analysis will be make the tallest bar of the Pareto chart the head of a fishbone diagram.
Process analysis is a continuous improvement approach whereby businesses examine their operations to find more efficient strategies to accomplish a given task. The three aspects of any activity—input, processing, and output—are the foundation of this approach. Process analysis analyzes how much an input is changed to generate the desired output by a business. One purpose of this research is to use less resources, including time, to achieve the desired outcomes.
A process analysis will watch and document how a specific task is carried out to fully describe every one of the steps and relevant personnel in it. He then will typically design a flow chart to illustrate how well the input flows through the system in the business.
Learn more about process analysis here:
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A partnership has been defined as "an association of two or more persons who carry on as co-owners of a business for a profit."
A partnership is a legal agreement/arrangement where people, known as partners, work together and are beneficial to one another in terms of business. A fun example of a partnership is Ben & Jerry's ice-cream. Founded by Ben & Jerry they were partners in their company and created a successful business though partnership.
Answer: $75000
Explanation:
In order to solve the question, firstly we need to calculate the contribution margin ratio which will be:
= ($10 - $6) / $10
= 40%
Then, the break even sales will then be:
= Fixed cost / Contribution margin ratio
= $30000 / 40%
= $75000
Therefore, the break-even point in sales dollars is $75000
Answer:
The cross price elasticity of demand measure how sensitive is the demand of the product X is due to the change in the price of the product Y.
The formula is stated as: Percentage change in the quantity demanded of product X / Percentage change in the price of product Y.
Further, cross price elasticity can be divided into Positive, negative and zero.
Hope this clears things up.
Good Luck.
