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levacccp [35]
2 years ago
14

Think of the last item you purchased. What was the item and what strategies did you use to help in your decision-making process?

Based on what you learned in this module, what strategies can you use next time?
Business
1 answer:
saveliy_v [14]2 years ago
4 0

Answer: Decision method for item bought was identification, weighing of alternative and quality

Explanation:

The item I purchased last was a game pad. When buying a game pad I had various options with variety in prices and durability. I wanted something that's authentic and would last over a period of time.

My choice was based on;

•Identification of item

•Quality

When considering getting an item next time I'll still go with these methods as they guide in making the best decision.

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Which of the following is NOT one of the five groups in the diffusion of innovation curve
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You do not have anything there cant help
5 0
3 years ago
Three graduate business students are considering operating a fruit smoothie stand in the Harbor Springs, Michigan, resort area d
Leviafan [203]

Answer:

a. 8,000 + 1,000 + 3.2Q

b. 27,000 + 3.2Q

c. 15,000 Units

Explanation:

a. The accounting cost function is shown below:-

Accounting cost function = Fixed Leasing and insurance cost + material cost and supplied cost

= 8,000 + 1,000 + 3.2Q

b. The economic cost function is shown below:-

Economic cost function  = Accounting cost + Opportunity cost

= 9,000 + 3.2Q + 3*6,000

=27,000 + 3.2Q

c. The computation of break even point is shown below:-

Break even Point = Total Fixed Cost ÷ Price - Average Variable cost

= 27,000 ÷ 5 - 3.2

= 15,000 Units

8 0
3 years ago
A plan for a career starting in two years:
r-ruslan [8.4K]

Answer:a) Will give you less opportunities than a career starting right away

wrong

Explanation:

6 0
2 years ago
Road Gripper Tire Co. manufactures automobile tires. Standard costs and actual costs for direct materials, direct labor, and fac
Nezavi [6.7K]

Answer:

Answer is explained in the explanation section below.

Explanation:

Solution:

a.

In part a, we need to find the following 3 requirements:

1. Direct Materials Price Variance

2. Direct Materials Quantity Variance

3. Total Direct Materials Cost Variance

Direct Materials Price Variance:

It can be calculated by using the following formula:

DMPV = AQ multiplied by (AP minus the SP)

Where,  

DMPV = Direct Materials Price Variance

AQ = Actual Quantity

AP = Actual Price

SP = Standard Price

We do have all the data, so just plug in the values into the above equation to get the DMPV.

AQ = 101,000

AP  = 6.50 USD

SP = 6.40 USD

So,

DMPV = 101,000 ( 6.50 - 6.40)

DMPV = 10,100 USD

Direct Materials Quantity Variance:

DMQV = SP ( AQ - SQ )

Where,

DMQV = Direct Materials Quantity Variance = ?

SP  = Standard Price  = 6.40 USD

AQ = Actual Quantity  = 101,000

SQ = Standard Quantity  = 100,000

Plugging in the values:

DMQV  = 6.40  ( 101,000 - 100,000)

DMQV = 6400 USD

Total Direct Materials Cost Variance:

DMCV = SMC - AMC

Where,

DMCV =  Direct Materials Cost Variance = ?

SMC = Standard Market Cost = 6.40 USD x 100,000

AMC = Actual market Cost = 6.50 USD x 101,000

DMCV = (6.40 USD x 100,000) - (6.50 USD x 101,000)

DMCV = 640,000 - 656,500

DMCV =  16,500 USD

b.

For part b, we need following particulars:

1. Direct Labor Rate Variance (DLRV)

2. Direct Labor Time Variance (DLTV)

3. Direct Labor Cost Variance  (DLCV)

Direct Labor Rate Variance (DLRV) :

DLRV = (ADLR - SDLR) x ADLH

Where,

ADLR  = Actual Direct Labor Rate = 15.40 USD

SDLR = Standard Direct Labor Rate = 15.75 USD

ADLH = Actual Direct Labor Hour = 2000

So,

DLRV = (ADLR - SDLR) x ADLH

DLRV =  (15.40 USD  - 15.75 USD  ) x 2000

DLRV = 700 USD

Direct Labor Time Variance (DLTV):

DLTV = ( ADLH - SDLH ) x SDLR

SDLH = Standard Direct Labor Hour = 2080

DLTV = ( 2000  - 2080 ) x 15.75 USD  

DLTV = 1260 USD

Direct Labor Cost Variance  (DLCV)

DLCV = SDLC - ADLC

SDLC = Standard Direct Labor Cost  

ADLC = Actual Direct Labor Cost

DLCV =  (1540 x 2000) - (15.75 x 2080)

DLCV = 1960 USD

c.

For Part c, we need following:

1. variable factory overhead controllable variance (VFOCV)

2. fixed factory overhead volume variance (FFOVV)

3. Total factory overhead cost variance (TFOCV)

variable factory overhead controllable variance (VFOCV):

VFOCV =  AFO - B

Where,

AFO = Actual Factory Overhead  = 8200

B = Budgeted Allowance Based on Standard Hours Allowed = 4160x0.5x4

B = 8320 USD

VFOCV =  8200 - 8320  

VFOCV =   120 USD

fixed factory overhead volume variance (FFOVV) :

FFOVV = (S - BH ) x SOR

Where,

S = Standard Hours for actual output = 4160 x 0.5

BH = Budgeted Hours = 2080

SOR = Standard Overhead Rate = 6 USD

FFOVV = (4160 x 0.5  - 2080) x 6

FFOVV =  0 USD

Total factory overhead cost variance (TFOCV):

TFOCV = AFO - SO

Where,

AFO = Actual Factory Overhead = 20,200

SO = Standard Overhead = 2080 x 10

TFOCV =  20,200 - ( 2080 x 10  )

TFOCV =  600 USD

7 0
3 years ago
7. Two farmers, A and B, each apply 100 tons of manure on their fields. To reduce manure runoff, the government has decided to r
valentinak56 [21]

Answer:

Explanation:

1) The total cost of reducing runoff if the farmers are not allowed to trade permits is:

total loss = farmer A' loss + farmer B's loss

where:

  • farmer A's loss = (100 - 50) x $25 = $1,250
  • farmer B's loss = (100 - 50) x $50 = $2,500

total loss = $1,250 + $2,500 = $3,750

2) The total cost of reducing runoff if the farmers are allowed to trade permits is:

Since farmer A will be willing to sell his permits to farmer B for a price that is ≥ $25 and ≤ $50, the total cost of reducing runoff is $2,500.

If farmer A sells his runoff permit at a price higher than $25 his costs will decrease but farmer B's costs will increase, so any gain due to price change is offset by the other farmer's loss.  

8 0
3 years ago
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