True.
However, the question should be clear it is a free market where market forces rule, therefore a shortage will cause some consumers to be willing to pay higher prices and producers will see benefit and revenue, thus producing more and resolving the shortage.
Answer:
$44,268
Explanation:
Calculation for What is the total manufacturing overhead for the current product order if the firm uses a plantwide rate based on direct labor-hours
First step is to calculate the Plant-wide Overhead Rate using this formula
Plant-wide Overhead Rate = Total Overhead / Total Direct Labor Hours
Let plug in the formula
Plant-wide Overhead Rate = $632,400 / 4,800 hours
Plant-wide Overhead Rate = $131.75
Now let calculate the total manufacturing overhead for the current product order
Using this formula
Current product order Total Manufacturing Overhead = Plant-wide Overhead Rate * Direct Labor Hours
Let plug in the formula
Current product order Total Manufacturing overhead= $131.75 *336 hours
Current product order Total Manufacturing overhead= $44,268
Therefore the total manufacturing overhead for the current product order if the firm uses a plantwide rate based on direct labor-hours will be $44,268
The ways by which an organization could improve its risk management are shown below.
<h3>
Ways by which an organization could improve its risk management:</h3>
(A) Think broadly about your supply chain -
- The network of people, businesses, resources (knowledge, public utilities, materials, services, etc.), processes, and technology used to create and market a good or service is known as a supply chain.
- This definition's broad strokes provide a thorough method for developing a matrix that improves supply chain visibility.
(B) Improve supplier auditing -
- Consider including significant contract clauses and auditing procedures in important contracts after identifying and prioritizing vital suppliers.
(C) Increase supplier diversity -
- The pandemic destroyed many minority-, women-, and veteran-owned businesses because they were unable to meet client demand when their supply chains broke down or came to a standstill.
(D) Clean up siloed tech suppliers -
- Without a doubt, technology is crucial to supply chain management.
- While having a variety of technology platforms and tools to support your operations is frequently required, purchasing technology in a silo might jeopardize an organization's logistics.
(E) Put supply chain trends in the right context -
- Although there is no dearth of articles on new supply chain management trends, many could not have predicted the geopolitical environment of today, which includes an invasion in Europe, skyrocketing oil prices, and the onslaught of ransomware attacks that are causing supply chains to break down on a daily basis.
Therefore, the ways by which an organization could improve its risk management are given.
Know more about the supply chain here:
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Because she possesses these technical skills, Elizabeth can be considered a <u>"knowledge"</u> worker.
A knowledge worker is any individual who works professionally at the errands of creating or utilizing knowledge. For instance, a knowledge laborer may be somebody who works at any of the assignments of arranging, obtaining, looking, breaking down, sorting out, putting away, programming, dispersing, advertising, or generally adding to the change and business of data and those (frequently similar individuals) who work at utilizing the information so created.
Knowledge work can be separated from different types of work by its accentuation on "non-schedule" critical thinking that requires a mix of concurrent and unique thinking. Yet in spite of the measure of research and writing on information work, there is no brief meaning of the term.
