It will go up because the milk is cheaper and they will buy what goes with it because they are complements ( milk and cereal ) this leads people to buy what goes with it so more cereal will be bought
The preparation of the CVP graph requires drawing a line representing the total revenue, total expense, and total fixed expense.
<h3>
What is the CVP Graph?</h3>
The CVP Graph, also known as a cost volume profit chart, is a graphical illustration that depicts the link between production costs and overall revenues.
The CVP graph is used by businesses to determine the possible impact of changes in volume sales on production process costs and total earnings.
In this scenario, the graph considers the total revenue, total expense, and total fixed expense.
Learn more about the CVP graph here:
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Answer:
Predetermined manufacturing overhead rate= $240 per order
Explanation:
Giving the following information:
Activity Cost Pool Cost Driver Est. Overhead Cost Driver Activity Ordering and Receiving Orders $ 120,000 500 orders
<u>To calculate the predetermined overhead rate, we need to use the following formula:</u>
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 120,000/500
Predetermined manufacturing overhead rate= $240 per order
Answer:
The Just-in-time( JIT) inventory management
Explanation:
The Just-in-time( JIT) inventory management approach seeks to increase efficiency in the stock management process. JIT achieves efficiency by reducing the cost of holding stocks and eliminating wastage associated with keeping a high volume of inventory. Under JIT, materials are ordered when they are required for production. The business does hold stocks or will have minimal quantities in the stores.
George can adopt the just-in-time system in his place of work. His cost of holding stock will reduce as materials will be purchased to meet the current production requirements. Market demand determine production. It means there will be no storage of a high volume of finished goods, which ties up a lot of capital.
Answer: Needs assessment
Explanation:
Your question isn't well written as you've already given the answer to the question which is needs assessment.
A needs assessment is used for determining the needs as well as addressing the needs between the present conditions and the desired conditions.
The main purpose of needs assessment is in order to know the people whom are in need and the types of needs.