When actual revenue <u>exceeds</u> what the revenue should have been, the variance is labelled favourable.
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The few rule the many. Hope this helped, have a great day! :D
Answer:
c. They account for a larger dollar value than class C items
Explanation:
The ABC inventory analysis is a method of classifying inventory in three main groups: A, B and C, where group A items include items that are most valuable and group C items the least valuable ones.
Conceptually similar to the Pareto principle, this method revolves around the fact businesses should focus on a limited scope of products, services or procedures that bring the most profit in comparison to other products/services.
Since group A items are critical to supply chain success, they require close monitoring by the operations managers and are rarely managed by wholly automated systems.
Like in the Pareto principle, A items usually have 10-20% share in the total item share, while they bring 70-80% of total profit.
Increase price value profit becomes higher than price, what happens to a company
The skills embodied in workers through experience, education and on-the-job-training are known as human capital.
<h3><u>
What is human capital?</u></h3>
- Social scientists refer to personal qualities seen to be helpful in the manufacturing process as "human capital." It includes the education, health, and knowledge of the workforce.
- Individual incomes are significantly impacted by human capital. According to research, making investments in human capital pays off handsomely throughout youth and young adulthood.
- Through education and training, for instance, businesses can invest in human capital, enabling higher standards of quality and output.
Paul Romer, who created the current innovation-driven approach to comprehending economic growth, was jointly awarded the 2018 Nobel Prize for Economics as a result of his conceptualization and modeling work incorporating Human Capital as a crucial aspect.
Know more about human capital with the help of the given link:
brainly.com/question/1415400
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