Answer:
The correct option is D
Labour budget = $1,974,175
Explanation:
The labour budget is the product of the standard labour cost per unit and the budgeted production in units
Labour budget = standard labour cost× production budget in unit
The production budget can bed determined by adjusting the sales budget for closing and opening inventories.
Production budget = Sales budget +closing inventory - opening inventory
Production budget = 39,000 + 100 -200 = 38,900 units
Labour budget = $14.50× 3.5× 38,900 = $1,974,175
Labour budget = $1,974,175
Answer:
should it hold the price constant and meet all the excess demand with an increase in production
Explanation:
to determine if the firm should increase their price or not, we have to determine the elasticity of demand.
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = percentage change in quantity demanded / percentage change in price
If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.
Demand is inelastic if a small change in price has little or no effect on quantity demanded. the absolute value of elasticity would be less than one
elasticity of demand = 15% / 10% = 1.5
Demand is elastic. if price is increased, the quantity demanded would fall more than the change in price and total revenue would fall.
To find the Inn's nightly cost before tax is added you will divide the total cost of the room $144.16 by the tax rate of 6%. When you divide the tax rate you will move the decimal over and use the number 1.06 (6%). When you divide $144.16 by 1.06 the answer is $136 per night before tax. To check your work you can multiply $136 by 1.06 giving you a total cost of $144.16 after tax.
Answer:
Correct option is Positioning.
Explanation:
Positioning refers to the place that a brand occupies in the minds of the customers and how it is distinguished from the products of the competitors.
<u>Marketing positioning</u> involves the process of defining the marketing mix variables so that target customers have a clear, distinctive, desirable understanding of what the product does or represents in comparison with competing products.
