John's assumptions in making this decision are that the three new product engineers are not capable writers and that their writing is terrible. John also believes that the only way the technical manual can be brought up to company standards is by offering a course in technical writing.
This is not an appropriate strategy for resolving the issue, as decisions should never be made based solely on assumptions, such as the fact that the product engineers in question are new hires and therefore unable to write. This is further explained below.
<h3>What is a decision?</h3>
Generally, a decision or conclusion was arrived at after careful deliberation.
In conclusion, When John was making this choice, he made a number of assumptions, one of which was that the three new product engineers are not competent writers and that their writing is horrible. John is also of the opinion that the only way the firm's technical handbook can be brought up to the standards of the corporation is by providing students with the opportunity to take a course in technical writing.
Because choices should never be made entirely based on assumptions, such as the fact that the product engineers in question are new employees and hence unable to write, this is not a suitable technique for fixing the problem. Decisions should never be made solely based on assumptions.
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Answer:
a. 29%
Explanation:
Given that
Contribution margin = $55,900
Sales = $190,000
The computation of contribution margin ratio is shown below:-
Contribution margin ratio = Contribution margin ÷ Sales
= $55,900 ÷ $190,000
= 29%
Therefore for computing the contribution margin ratio we simply divide sales by contribution margin ratio.
Answer:
1. estimate the quantity of raw materials to be purchased.
2. ending raw materials inventory for the last period.
Explanation:
A budget is a financial plan used for the estimation of revenue and expenditures of an individual, organization or government for a specified period of time, often one year. Budgets are usually compiled, analyzed and re-evaluated on periodic basis.
The first step of the budgeting process is to prepare a list of each type of income and expense that will be part of the budget.
The final step by the management of an organization in the financial decision making process is making necessary adjustments to the budget.
The benefits of having a budget is that it aids in setting goals, earmarking revenues and resources, measuring outcomes and planning against contingencies.
1. The purpose of preparing a direct materials budget is to estimate the quantity of raw materials to be purchased. This includes the raw materials that would be used for the manufacturing of finished goods.
2. In a direct materials budget, the desired ending raw materials inventory for the year is equal to the ending raw materials inventory for the last period.
Answer: Keynesian Economic Theory
Explanation: The policy adopted by the President was to cut back taxes and increase government spending on road, bridges and schools. This policy of the government is called the expansionary fiscal policy which is used to combat an economy suffering from recession. The Keynesian theory also supports the argument that when an economy is suffering from recession, economic output is influenced by aggregate demand. Thus, the government and use its fiscal policy tools to bring the economy out of recession. It also supports that the Fed can also use its monetary policy to bring the economy out of recession. But since here taxes and government spending are uses, we can say that Obama was a proponent of Keynesian Economic theory.
A number of separate but interdependent budgets that formally lay out the company's sales, production, and financial goals and that culminates in a cash budget, budgeted income statement, and budgeted balance sheet is master budget.
The lower-level budgets, cash flow projections, budgeted financial statements, and financial plans of an organisation are all included in the master budget, which is a thorough financial planning document. It is often created by a company's budget committee under the direction of the budget director.
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