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3 years ago

1. Why we should manage a business?

Business

2 answers:

swat323 years ago

8 0

It helps in Achieving Group Goals - It arranges the factors of production, assembles and organizes the resources, integrates the resources in effective manner to achieve goals

<h2>hope it helps!</h2>

Natalka [10]3 years ago

7 0

We manage a business by keeping account records

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Answer: The correct answer is c). Event Marketing.

Explanation: Event marketing is a marketing strategy focuses on a target group and involves high contact intensity. It is marketing done through events especially memorable ones. In this case, marketing is seen as central and the event is considered the actual marketing tool.

Event marketing is a unique industry marketing tools that can be used to have a lasting effect on the target market. This marketing tool turns a message into an event that can be experienced by the audience. As such, the mentioning of the tennis championship on products labels and advertisements is a form of EVENT MANAGEMENT.

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3 years ago

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3 years ago

For price discrimination to be successful, no arbitrage opportunity can be allowed. 5. Monopoly firm's marginal revenue is less

marishachu [46]

Answer:

1 (a)

Since p = 10 - Q,

Revenue = p × Q=10Q - Q2

Hence, MR = 10 - 2Q.

MC is given fixed at 4.

Demand function is Q = 10 - p.

Plotting all these values in graph attached picture, we get

1 (b)

The monopolist will yield where MR = MC. So,

10 - 2Q = 4

Q = 3.

At this quantity, P = 7.

1 (c)

Consumer Surplus = Area of Triangle ABC = 0.5 × 3 × 3 = 4.5

Producer Surplus = Area of Rectangle ABEF = 3 × 3 = 9

2 (a)

Since the price is now P = MC = 4, this means

Q = 10 – 4 = 6.

2 (b)

The consumer surplus in this case would be = 0.5 × 6 × 6 = 18

The producer surplus will be zero.

2 (c)

Deadweight Loss = Total Surplus in Case B - Total Surplus in Case A

18 - 13.5 = 4.5

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4 years ago

A wheat farmer should __________ in order to reduce his exposure to risk associated with fluctuations in wheat prices. Group of

Serhud [2]

Answer: increase

Explanation:

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3 years ago

Check my work Check My Work button is now enabled 1 Item 3 Item 3 2.5 points Becton Labs, Inc., produces various chemical compou

morpeh [17]

Complete table :

Standard Standard Standard

Quantity Price(or rate) Cost

Direct Materials 2.60 ounces $20.00 per ounce $ 52.00

Direct labor 0.60 hours $16.00 per hours 9.60

Variable manuf 0.60 hours $4.50 per hour 2.70

-acturing Overhead

Total standard cost per unit $64.30

Required:

1) For direct materials:

a) compute the price and quantity variances

b) The materials were purchased from a new supplier who is anxious to enter into a long - term purchase contract, would you recommend that the company sign the contract?

2) For direct labor:

a) Compute the rate and efficiency variances

b) In the past 23 technicians employed in the production of Fludex consists of 4 senior technicians and 19 assistants. During November, the company experimented with fewer senior technicians and more assistants to reduce labor costs, would you recommend that the new labor mix be continued?

3) compute the variable overhead rate and efficiency variances

Answer:

Check below for answer

Explanation:

1a) Standard quantity of material for actual production(SQ) = 3600*2.60 = 9360 ounce

Actual quantity of material purchased = 13000 ounce

Actual quantity of material used(AQ) = 13000 - 3300 = 9700 ounce

Standard price of material(SP) = $20 per ounce

Actual price of material(AP) = $244,400 / 13000 = $18.80

Material price variance = (SP - AP) * AQ purchased = ($20 - $18.80) * 13000 = $15,600 F

Material quantity variance = (AQ - SQ) * SP = (9700 - 9360) * $20 = $6800 U

2a) Standard hours of direct labor = 3600*0.6 = 2160 hours

Standard rate of direct labor(SR) = $16 per hour

Actual hours of direct labor(AH) = 20*150 = 3000 hours

Actual rate of direct labor(AR) = $14 per hour

Direct labor rate variance = (SR - AR) * AH = ($16 - $14) * 3000 = $7,000 F

Direct labor efficiency variance = (AH - SH) * SR = (3000 - 2160) * $16 = $13,440U

2b) If more assistants rather senior technicians are employed, favorable direct labor rate variance will improve but efficiency variance will be unfavorable. Since unfavorable efficiency variance is higher than favorable rate variance, the new labor mix should not be continued.

3) Standard hours of direct labor = 2160 hours

Standard rate of variable overhead= $4.50 per hour

Actual hours of direct labor = 3000

Actual rate of variable overhead = $6500 / 3000 = $2.17 per hour

Variable overhead rate variance = (SR - AR) * AH = ($4.50 - $2.17) * 3000 = 6990 F

Variable overhead efficiency variance = (SH - AH) * SR = (2160 - 3000) * $4.50 = $186.67 U

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3 years ago