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3 years ago

Match the word with the best definition.

Business

1 answer:

Bas_tet [7]3 years ago

6 0

Answer:

1. Income determines who will get what is produced

2. Consumers decide what to produce by what they are willing to buy

3. Demand determines how much will be produced

4. Businessmen decide how to produce goods to make a profit

5. Producers the human resources that make the products or perform the services

Explanation:

1. Income determines who will get what is produced

The level of disposable income in a target market determines the quality and quantity of products that will channeled to that market.

2. Consumers decide what to produce by what they are willing to buy.

It is consumers that dictates the tune in market because they are the ones paying for the goods, they have the decision-making power on what they will buy which in turn determines what firms will roduce.

3. Demand determines how much will be produced. Demand is a measure of what consumers are willing buy and in what quantity. The size of demand determines the size of the market that firms are going to supply with their products.

4. Businessmen decide how to produce goods to make a profit.

Firms use the generic strategy of cost reduction (cost leadership) or quality improvement (Product differentiation) as strategic options to decide wihich alternative will yeild more revenue.

5. Producers the human resources that make the products or perform the services.

Producers are the people at the factory floor or service centers manufacturing the good or rendering the service.

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Answer:

Westerville Company

1. Last year's margin is:

= 20%

2. Last year's turnover is:

= $1,800,000

3. Last year's ROI is:

= 30%

4. The margin related to this year's investment opportunity is:

= 10%

5. The turnover related to this year's investment opportunity is:

= $360,000.

6. The ROI related to this year's investment opportunity is:

= 12%

7. The margin this year is:

= 18.33%

8. The turnover that it will earn this year is:

= $2,160,000

9. The ROI that it will earn this year is:

= 26.4%

Explanation:

a) Data and Calculations:

Last Year's This Year's Total

Sales $1,800,000 $360,000 $2,160,000

Variable expenses 435,000 108,000 543,000

Contribution margin 1,365,000 252,000 $1,617,000

Fixed expenses 1,005,000 216,000 1,221,000

Net operating income $360,000 $36,000 $396,000

Average operating assets $1,200,000 $300,000 $1,500,000

Minimum Required Rate of Return = 10%

= $120,000 $30,000 $150,000

1. Last year's margin = 20% ($360,000/$1,800,000) * 100

2. Last year's turnover = $1,800,000

3. Last year's ROI = 30% ($360,000/$1,200,000) * 100

4. The margin related to this year's investment opportunity is:

= 10% ($36,000/$360,000) * 100

5. The turnover related to this year's investment opportunity is $360,000.

6. The ROI related to this year's investment opportunity is:

12% ($36,000/$300,000)

7. The margin = 18.33% ($396,000/$2,160,000) * 100

8. The turnover that it will earn this year = $2,160,000

9. The ROI that it will earn this year = 26.4% ($396,000/$1,500,000) * 100

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