Answer:
When Andy Forsummer, the owner of Barcelona Restaurants Group, rejects management philosophies that stress employee social relations and employee happiness, he is refuting ideas championed by <u>Henri Fayol's administrative management.</u>
Henri Fayol's administrative management usually looks at the clear decision of labor, work ethics, employee and organizational culture and spirit. It stresses upon how employee social relations and employee happiness is crucial to the success of an organization.
The question is reproduced in the table below for clarity
Oven Contribution
Hours Required Margin Per Unit
Muffins 0.2 $4
Coffee Cakes 0.3 $5
Answer:
Total contribution margin = $ 60,000.00
Explanation:
<em>When a business is faced with a problem of shortage of a resource which can be used to produced more than one product type, to maximize the use of the resource , the business should allocate it for production purpose in such a way that it maximizes the contribution per unit of the scare resource.</em>
Therefore Crane Company should alocate the oven hours to maximise the contribution per unit of oven hour. This is done as follows:
Step 1
<em>Calculate he contribution per oven hour and rank the product</em>
cont/hr ranking
Muffin $4/0.2 hour = 20 <em> 1st</em>
Coffee cakes $5/0.3 hour= 16.67 2nd
<em>Because Muffin generates the highest contribution per hour of Oven, Crane should allocate all the resource to it</em>
Step 2
<em>Calculate the Total contribution from the production of Muffin</em>
Total contribution margin = 20 per her × 3000
= $ 60,000.00
Answer: a. expropriation
Explanation:
Expropriation happens when privately owned property are forcefully taken by government for it to be used by the general public. It is an act of depriving people of their right to property, although expropriation is to the advantage of the general public. In most countries especially in the US expropriation occurs when there is a need to embark on certain infrastructural project such as airports, railroads, etc.
Answer: B. The firm hires 45 workers and earns a $1200.00 Economic Profit
Explanation:
According to the table, when the Market Equilibrium Wage Rate is $105, the number of workers to hire would be 45 and the revenue would be $7,425.
If 45 workers are hired, they would cost:
= 45 * 105 per worker
= $4,725
Added to the fixed cost, the total cost would be:
= 4,725 + 1,500
= $6,225
The profit would be:
= Revenue - cost
= 7,425 - 6,225
= $1,200
Answer and Explanation:
The computation of the unit cost of goods manufactured is shown below:
<u>Particulars variable costing absorption costing</u>
variable cost of $108 $108
goods manufactured ($1,620,000 ÷ 15,000)
Fixed manufacturing
cost $14
($210,000 ÷ 15,000)
unit cost of goods
manufactured $108 $122
