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WARRIOR [948]
3 years ago
9

One of Sanjay's work responsibilities is to check inspection stations periodically to monitor the quality of the products throug

hout the production process. This is an example of ______.
Business
1 answer:
Nikitich [7]3 years ago
3 0

Answer:

This is an example of quality control

Explanation:

A production process usually involves the action of a variety of things that all perform specific functions towards a common goal, usually the production of a finished good or service. This therefor means that a type of management is needed to ensure that all these aspects are handled in such away that the set organizational needs are met. This can be broadly defined as management control. Management control involves the control and operation aspects of a production process to ensure that the organizational goals are met.

One aspect of management control that is very important in the production environment is quality control. Quality control involves the inspection of the production process and the products to determine the quality. The quality of the process and the products is usually measured against set organizational and production standards. This therefor means that if the process or the production quality falls below the standard, then the quality of the product can be said to be low while if the quality meet or surpass the standards then the quality is high.

Quality control helps companies identify areas that need to be improved, thus raising overall product value.

You might be interested in
It is appropriate to use the fixed assets turnover ratio to appraise firms' effectiveness in managing their fixed assets if and
Kay [80]

Answer:

False

Explanation:

fixed assets turnover ratio = net sales / average fixed assets

This ration measures how effectively a company uses its fixed assets to generate sales. If a company's fixed assets turnover ratio is higher than the industry average, it means that  it is using its assets more efficiently to generate more sales or it is working at an over capacity, and it needs to add more fixed assets.

5 0
3 years ago
You are analyzing ABC Company, a computer manufacturer. You notice that inventory turnover this year is significantly lower than
nexus9112 [7]

Answer:

ABC Company

1. Observation: Current year's inventory turnover is significantly lower than those of previous years.

Explanations:

1. Lower inventory turnover implies weaker sales for the current period than those of previous years.

2. Lower inventory turnover results from excessive inventory, which increases storage costs and interest expenses.

3. The ratio may also indicate that the demand for the product is declining rapidly.  Many reasons can be adduced for this situation.  Little marketing efforts, bad product, and lack of product competitiveness.

a) The formula for computing the inventory turnover equals Cost of goods sold/Average Inventory.  The ratio shows the number of times goods are sold in a period.  When goods are sold more frequently, sales activities increase, including revenue and profit.

2. Observation: Also current year's accounts receivable turnover is significantly lower than in previous years.

Explanations:

1. Billing inefficiency can contribute to lower accounts receivable turnover.

2. Poor credit policy may give rise to inefficient collection process, excessive bad debts, long credit days, bad customers, and lack of incentives to customers to settle their invoices.

3. Lastly, lower accounts receivable turnover may point to declining demand of the product by customers.

b) The formula for calculating the accounts receivable turnover is Net Credit Sales divided by Average receivables.  The ratio determines the effectiveness of the company's credit policy.

 

6 0
3 years ago
A customer's restricted margin account shows the following: LMV $30,000 DB $16,000 SMA $0 If the customer sells $2,000 of securi
strojnjashka [21]

Answer: $1000

Explanation:

From the question, we are informed that a customer's restricted margin account shows the following: LMV $30,000 DB $16,000 SMA $0 If the customer sells $2,000 of securities.

Based on the above analysis, the customer can only withdraw $1000. This is because since $2000 worth of securities are sold, half of it which is $1000 will be credited to SMA which is the withdrawable amount.

7 0
4 years ago
Clarence is purchasing a $142,000 home with a 15-year mortgage. He will
madreJ [45]

Answer:

prime mortgage insurance (PMI) is an insurance that mortgage lenders require when borrowers make a down payment of less than 20% of the purchase price of the house.

We are not given any table, so I looked in the internet to find one that can be used as an example:

outstanding principal = $142,000 - 17% = $117,860

  • mortgage term equal or less than 15 years
  • base loan amount is less than $625,000
  • loan to value ratio = 1 - down payment = 83%, which means it is ≤ 90%
  • bps = 45

total yearly premium = principal x bps = $117,860 x 0.0045 = $530.47

monthly PMI payment = $530.47 / 12 months = $44.20

6 0
3 years ago
Lacey Abrams is the sales representative for the Brook Park Zoo. She sells events, such as wedding receptions, corporate dinners
Alex777 [14]

Answer:

C) She asks, "How much do I need to put down now to reserve the date?"

Explanation:

Anne asking "How much do I need to put down now to reserve the date?" is a signal that she is ready to sign the contract to book the reception.

Obviously, Anne Mason would only ask how much is required to put down to reserve a date at the Brook Park Zoo because they had just finished negotiating all the details of her upcoming wedding reception and she's satisfied with the service.

5 0
3 years ago
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