False. Retailers that offer lower quality alternatives to luxury products at lower prices are most likely to follow a less-for-less positioning strategy, not a less-for-much-less strategy.
A less-for-less positioning strategy involves offering products or services at lower prices while also providing lower quality or fewer features compared to higher-end alternatives. This strategy targets price-sensitive customers who are willing to sacrifice certain attributes or features in exchange for lower prices. The goal is to provide a more affordable option that still meets basic customer needs.
In the case of luxury products, a less-for-much-less strategy would involve offering significantly lower quality alternatives at much lower prices. This strategy is less common in the luxury segment, as luxury brands typically focus on providing high-quality, premium products and services. Luxury consumers place a strong emphasis on exclusivity, superior craftsmanship, and brand image, and are less likely to be attracted to significantly lower quality alternatives.
However, retailers that cater to price-sensitive customers may offer lower quality alternatives to luxury products at lower prices as a way to attract a different customer segment. These retailers may position themselves as more affordable options while still providing some level of quality and functionality.
It's important to note that positioning strategies can vary across different industries and market segments. While the less-for-much-less strategy may not be common in the luxury market, it could be applicable in other sectors where customers are primarily driven by price considerations and are willing to accept significantly lower quality in exchange for substantial cost savings.
In summary, retailers that offer lower quality alternatives to luxury products at lower prices are more likely to follow a less-for-less positioning strategy rather than a less-for-much-less strategy.
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Which of the following choices incur speculative risk?
a.stocks
b.fire insurance on a house
c.options
d.life insurance
e.high interest savings account
Answer: correct option is A.
Explanation: A speculative risk can be defined as risk that is taken willingly either it results in profit or loss and the stocks involve in probability of gain and loss making it a speculative risk.
Stocks incur speculative risk. Therefore option A is correct.
What are Stocks?A stock usually referred to as equity, is a type of investment that denotes ownership in a portion of the issuing company. Shares, also known as units of stock, entitle their owners to a share of the company's assets and income in proportion to the number of shares they possess.
Common stock and preferred stock are the two primary categories of stocks.
Owners of common stock are entitled to dividends and the right to vote at shareholder meetings.
Common stockholders often do not have voting rights, while preferred stockholders typically get dividend payments ahead of time and are given preference over common investors in the event of a firm bankruptcy and asset liquidation.
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Unlike the United States, most countries across the globe rely on the ________ system to measure units, creating problems for both buyers and sellers in the international marketplace
Answer:
metric
Explanation:
Unlike the United States, most countries across the globe rely on the metric system to measure units, creating problems for both buyers and sellers in the international marketplace.
The United States uses the imperial system, also known as the U.S. Customary System.
For example, to measure length, the imperial system uses units such as inches, feet, yards, and miles. On the other hand, the metric system uses units such as millimeters, centimeters, meters, kilometers, etc.
What word does Freeman use when discussing his central thesis?1) Customer
2) True customer
3) Shareholder
4) Stakeholder
5) Stake owner
In addition to arranging potential partners, the stakeholder theory demonstrates two impact bearings (between partner and association).
Which two subfields of stakeholder theory exist?The management (positive) and ethical (normative) aspects of stakeholder theory can be separated (Deegan, 2000). According to the managerial branch, managers' decisions regarding an organization's business operations will be influenced by the influence that specific stakeholders have.
How does stakeholder theory affect an organization?According to the stakeholder theory, a company's relationships with its clients, suppliers, workers, investors, communities, and other parties with an interest in the organization are intertwined. According to the principle, a company ought to generate value not just for its owners but for all stakeholders as well.
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NEED HELP
Employees usually have options for how they will be paid. Most employers offer either a
BLANK or BLANK
, but there are also cases where employees are paid in BLANK
Reinvesting cash flow allows a firm produce additional products and generate additional sales.
O True
O False
The law of demand states that:
O A. demand for a.product rises when its price falls.
B. demand for a product rises when its supply falls.
C. demand for a product falls when its price falls.
D. demand for a product rises when its supply rises.
What is the difference between an excise tax and a percentage tax?
The local government determines the amount of tax to be charged, and there is a sales tax in place in 45 US States. Contrarily, an excise tax is a flat fee that is added to the cost of certain goods, some by states and some by the federal government.
What is the major difference between excise tax and value added tax?A percentage-based ad valorem tax is levied. This leads to the creation of an excise tax depending on the cost of the good or service. The Internal Revenue Service (IRS), for instance, charges an excise tax of 10% on indoor tanning services.
Sales tax is charged on the sale of products, whereas excise duty is charged on the manufacture of goods. While the manufacturer is responsible for paying the excise tax, the end user is responsible for paying the sales tax.
A business tax known as percentage tax is levied against individuals or organizations who engage in the sale or rental of commodities, real estate, or services in the course of their trade or company and whose gross annual sales or revenues do not exceed P550.000.
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Suppose that good X is a substitute for good Y. Then an increase in the price of good Y leads to Multiple Choice a decrease in the demand of good X. an increase in the demand of good X. an increase in the supply of good X. a decrease in the supply of good X.
If X and Y are substitute goods, an increase in the price of good Y leads to: B. an increase in the demand of good X.
What are Substitute Goods?Substitute goods are goods can be any two or more products that can be used by consumers to fulfil the same purpose or need.
Generally, when the price of one of the substitutes increases, consumers will go its close substitutes as an alternative.
Therefore, if X and Y are substitute goods, an increase in the price of good Y leads to: B. an increase in the demand of good X.
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If the value of the marginal product of labor exceeds the wage, then hiring another worker a. decreases the firm's total cost. b. Increases the firm's profit. c. decreases the firm's total revenue. d. decreases the firm's total output.
If the value of the marginal product of labor exceeds the wage, then hiring another worker will increase the firm's profit. This is because the marginal product of labour refers to the additional output that is produced when an additional unit of labor is hired. The correct answer is option b.
In other words, if the marginal product of labor is high, it means that the worker is generating a significant amount of output for the firm. On the other hand, if the wage paid to the worker is lower than the value of the output they are producing, then the firm is essentially earning a profit from that worker's labor.
When a firm hires an additional worker, it incurs additional costs in the form of wages. However, if the worker is generating a high marginal product of labor, then the additional output they produce will generate additional revenue for the firm. This means that the firm's total revenue will increase, which will lead to an increase in the firm's profit. Therefore, option b, "increases the firm's profit", is the correct answer.
It is important to note that hiring an additional worker will only decrease the firm's total cost if the wage paid to the worker is lower than the value of their marginal product of labor. Similarly, hiring an additional worker will only decrease the firm's total revenue or total output if the worker is not generating a significant amount of output for the firm. Thus, options a, c, and d are incorrect in this scenario.
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Jeb is trying to market a new type of chewing gum. His new gum, popsalot, is a low involvement purchase. Which type of channel coverage should he employ?.
Jeb should employ an intensive type of channel coverage.
The distribution coverage figures in figure 24 represent the proportion of stores that carry a given brand. The record offers the statistics for each emblem presently available on the market. The number of shops in every distribution channel is furnished as nicely.
The market insurance method is the technique of analyzing the market and locating how a good deal of the full marketplace your advertising and marketing marketing campaign ought to cover for a specific product/carrier.
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can somebody make a summary of a article about what it takes to give good customer service??? PLEASE i only need like 4-5 sentances
Answer:
Customer service sets great businesses apart from the rest. Customers are the reason that businesses exist. Keeping those customers happy means being responsive to their needs and wants. A good customer service experience can turn a one-time customer into a lifelong repeat customer. People like to share their good experiences. Excellent customer service can turn into positive word of mouth.
If the price of a hamburger is increased from $8 to $10, the price elasticity of demand equals ________. Use the midpoint formula.
The Price elasticity of demand is -3.
What is Price elasticity of demand?The Price elasticity of demand shows the change in consumption of a product in relation to its change in its price.
% change in price = (10-8) / ((10+8)/2)
% change in price = 2/9
% change in price = 22.22
% change in quantity = (1-2) / ((2+1)/2)
% change in quantity = -66.67
Price elasticity of demand = % change in quantity/% change in price
Price elasticity of demand = -66.67/22.22
Price elasticity of demand = -3
Hence, the Price elasticity of demand is -3.
Therefore, the Option 2 is correct.
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Martin Company currently produces and sells 35,000 units of product at a selling price of $13. The product has variable costs of $7 per unit and fixed costs of $45,000. The company currently earns a total contribution margin of:
Answer:
The company currently earns a total contribution margin of $ 20
Look positively at objections offered by prospects because an objection often reveals the key to a successful sale. If prospects have been properly qualified, then offering sales resistance is another way for them to say:
A. "I do not want to buy your product at this time."
B. "I want to buy as soon as you give me a few more facts or answers that reassure me that buying from you is the smart thing to do."
C. "I like your product, but I like your competitor's better."
D. "Your product is nice, but we cannot utilize it at present."
E. Any of the above are logical.
Answer:
B. "I want to buy as soon as you give me a few more facts or answers that reassure me that buying from you is the smart thing to do."
Explanation:
In the case wghen the prospects would be qualified as compared to the offering sales that represent the another way so here it can be said that want to purchase as soon as it provided more facts or answers that given assurance for purchasing from you which shows the smart thing to be done
Therefore the option b is correct
And, the rest of the options would be incorrect
I would like to buy as quickly as you can provide me with a few more data or answers that persuade me that buying from you is the best option."
When customers are qualified as opposed to offering sales, it can be argued that they want to buy as soon as they are given additional facts or answers that give them confidence to buy from you, which is a wise thing to do.
So, the option "B" is the correct answer to the following question.
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Jolene has always wanted to work in Physical Therapy. Which career would be the best choice if she wants to get into a job that has fast-growing availability?
A. Physical Therapist Assistant
B. Physical Therapist Aide
C. Physical Therapist
D. Physical Therapist Technician
help? D:
Answer:
A.) Physical Therapist Assistant
Explanation:
Just did on Edge 2020. Hope this helps you and others out.
The best career choice that would have taken by Jolene in order to work in the field of Physical therapy is to become a Physical Therapist Assistant.
Option A is the correct answer.
What is meant by physical therapy?Physical Therapy is a kind of treatment done by professionals to relieve a person from pain.
Physical therapist Assistants are professionals who are qualified with an accredited degree in the course of Physical Therapy Education. They are worked under the guidance of Physical Therapists. They also helped the physical therapists with the healthcare problems of the infants to the individual who died.
Therefore, the Physical therapist assistant would be the career chosen by Jolene in order to work in the desired field.
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Frank borrowed $25,000 for a period of 4 years. His interest rate is 3%. How much interest will Frank pay in all?
Frank will pay the total amount of $28,000 with an interest of $3000.
What is the simple interest?Simple interest is defined as interest paid on the original principal and calculated with the following formula:
S.I. = P × R × T, where P = Principal, R = Rate of Interest in % per annum, and T = Time, usually calculated as the number of years. The rate of interest is in percentage r% and is to be written as r/100.
We have been given data as:
Principal (P) = $25,000
Rate of Interest (R) = 3%
Time (T) = 4 years
⇒ Simple interest = P × R × T
Substitute the value of P, R, and T in the above formula,
⇒ Simple interest = 25,000 × 3% × 4
⇒ Simple interest = 25,000 × 3/100 × 4
⇒ Simple interest = 25,000 × 0.03 × 4
Apply the multiplication operation, and we get
⇒ Simple interest = $3000
Total payback amount = $25,000 + $3000 = $28,000
Therefore, he will pay the total amount of $28,000 with an interest of $3000.
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Buster has had a serious medical condition for many months. He has used up all of his sick leave and vacation days, as well as 10 weeks of intermittent Family Medical Leave Act leave. He asks for an additional two weeks off. Which of the following is true? A. Buster's employer can fire him because he wants to take more leave B. Buster cannot be fired for reasons aside from his need to take leave. C. Buster cannot take any more leave if he has also used up his sick leave and vacation days. D. Buster is entitled to the leave he is asking for.
Answer:
C. Buster cannot take any more leave if he has also used up his sick leave and vacation days.
Explanation:
Buster has used up all the sick leaves and the vacation leaves and is asking for additional two more weeks off even after taking the ten-week of intermediate family leave he should be not allowed to take more leaves. Through he cannot be fired due to his serious condition but if he has finished all the sick leaves he should not be given.Answer:
b
Explanation:
the profit mark-up is a percentage of the cost price which is added to the cost price in order to calculate the selling price.
true or false if false say why
Answer:
true
Explanation:
Which of the following is the total amount of tax owed by an individual to a taxing authority such as the IRS?
O Tax break
O Tax bracket
O Tax exemption
O Tax liability
The total amount of tax owed by an individual to a tax authority is known as tax liability.
The amount that a person, company, or other entity owes to a federal, state or local tax authority is known as their tax liability.
Generally speaking, when you make money or gain from the sale of an investment or other item, you have to pay taxes. If you don't have enough income to qualify for tax filing, you might not owe any income taxes.
To Calculate Tax Liability, you should consider:
By totalling up all of your income, deducting any necessary expenses, and applying the result to the tax tables for your filing status, you can estimate your tax obligation for the year.For instance, contributions made to an employer-sponsored retirement plan that permits pre-tax deferrals or a health savings account (HSA) won't be counted toward your taxable income.Furthermore, you may be eligible to deduct some expenses from your gross income, such as interest on student loan debt or health insurance premiums if you are self-employed and paid them all year. These are referred to as above-the-line deductions or adjustments to income. Your adjusted gross income is the outcome (AGI).To know more about the taxation system:
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Companies that sell finished or semi-finished goods and services to the primary company are called
Suppliers are businesses that offer finished or semi-finished products and services to the main business.
What is Suppliers ?Suppliers are those companies or individuals who provide goods or services to other companies or individuals. They are the source of the products or services that a business needs to operate and can be domestic or international. Suppliers provide businesses with the raw materials and components they need to produce products, as well as the necessary services to keep their operations running.
They provide the materials, components, and services necessary for the production and sale of products and services.
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Which of the following theories is associated with the piece-rate system? a) The two-factor theory. b) The theory of the hierarchy of needs. c) The theory of the Hawthorne effect. d) Theory X and Theory Y. e) The classical theory of motivation.
The piece-rate system is associated with the e) classical theory of motivation, which is based on the belief that employees are motivated primarily by financial incentives. In a piece-rate system, workers are paid based on the number of items they produce or tasks they complete, rather than on an hourly wage. This system is designed to encourage productivity by rewarding hard work and efficiency.
The classical theory of motivation emphasizes the role of financial incentives, such as piece-rate pay, in motivating individuals to perform better in their work. According to this theory, workers are motivated by the prospect of earning more money based on the quantity or quality of their output. A piece-rate system is a form of incentive pay where employees receive compensation based on the number of units they produce or tasks they complete.
Therefore, the correct option is e) The classical theory of motivation.
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one of the major cost savings for consumers using automated clearinghouses ismultiple choicesaving great amounts of money on postage.saving time paying bills through check writing.the security of having the payments and deposits directly deposited or deducted from your account.all of the options are true.
Using automated clearinghouses can save consumers money on postage, save time on bill payments through check writing, and provide the security of having payments and deposits directly deposited or deducted from their accounts. Option D is correct answer.
Automated Clearinghouses (ACHs) are electronic networks that facilitate financial transactions between bank accounts. One of the major cost savings for consumers when using ACHs is that they can save great amounts of money on postage. By using ACHs, consumers can make payments and deposits electronically, eliminating the need for paper checks, envelopes, and stamps, which can add up to significant savings over time.
In addition to saving money on postage, consumers can also save time paying bills through check writing by using ACHs. With ACHs, consumers can set up recurring payments for bills, such as mortgage or utility bills, which can be automatically deducted from their accounts. This eliminates the need to write and mail a check each month, saving time and hassle.
Another benefit of using ACHs is the security of having payments and deposits directly deposited or deducted from your account. ACHs are highly secure and use encryption and authentication protocols to protect consumers' financial information. This reduces the risk of fraud or identity theft that can occur when using paper checks.
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Complete question:
What is one of the major cost savings for consumers when using automated clearinghouses?
A) Saving great amounts of money on postage
B) Saving time paying bills through check writing
C) The security of having the payments and deposits directly deposited or deducted from your account
D) All of the above options are true
Travis has a 2,400 square foot home. He is self employeed and uses one room of his home exclusively for his business. The area of the office is 240 square feet. During the past year, he painted his office and replaced the door at a cost of $500; paid for utilities for his home, $3,000; paid property taxes, $1,500; paid mortgage interest, $3,600; and replaced a door jam and door for his patio, $600. Travis has __________$ in deductible direct expenses and ________$ in deductible indirect expenses. (Enter your answers as whole numbers.)
Answer:
$500;$810
Explanation:
Based on the information given we were told that he painted his office and replaced the door at a cost of the amount of $500 which means that Travis has the amount of $500 in deductible direct expenses
Calculation for deductible indirect expenses.
First step is to calculate the utilities
Utilities= $3,000 x (240/2,400)
Utilities= $3,000 x 10%
Utilities= $300
Second step is to calculate the property taxes
Property taxes= $1,500 x 10%
Property taxes= $150
Third step is to calculate the mortgage interest
Mortgage interest= $3,600 x 10%
Mortgage interest= $360
Now let calculate the deductible indirect expenses.
Deductible indirect expenses=$300+$150+$360
Deductible indirect expenses=$810
Therefore Travis has $500 in deductible direct expenses and $810 in deductible indirect expenses.
True/False
Indicate whether the statement is true or false.
1. Revenue and expense accounts must be closed out because their balances apply to only one accounting
period.
True or false?
Answer:
True
Explanation:
Revenue accounts are accounts were entries of the sales of products as well as the revenue generated by firm or company are properly recorded.
Expense accounts are accounts where that show us the expenses generated by a firm or company. Such expenses are the things the company spends money on which could be purchase of raw materials, payment of labour, repairs of machineries e.t.c.
An accounting period is a duration of time where accounts in a firm or company are balanced and closed for that period.
Revenue and expense accounts must be closed out because their balances apply to only one accounting
period.
Two technicians are discussing scan tools. Technician a states as with all shop equipment, proper maintenance, care, and updating of scan tools is crucial. Technician b states this expense should be budgeted for on a yearly basis as this expense could upwards of $10,000 per year or more. Who is correct?.
Technician a is correct.
Technicians are skilled experts employed in almost every industry. They restore, install, replace, and service special structures and systems. Technicians usually work alongside other professional workers and should be capable of reading commands and communicating effectively.
A number of the maximum critical tough competencies a technician can own consist of diagnosing troubles, performing preventative upkeep, working with hand gear, and compliance with protection processes. when it comes to smooth competencies, technicians must have sturdy customer support and verbal exchange skills.
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Which word best describes the advantage of using an IMC program over a single marketing communication element in order to deliver a message to the target audience?
The word that best describes the advantage of using an IMC (Integrated Marketing Communications) program over a single marketing communication element to deliver a message to the target audience is synergy.
Synergy is the key advantage of an IMC program compared to a single marketing communication element. An IMC program integrates various marketing communication channels and tactics to deliver a consistent and cohesive message to the target audience. Instead of relying on a single communication element, such as a television ad or a social media campaign, an IMC program combines multiple elements, including advertising, public relations, direct marketing, sales promotion, and digital marketing, among others.
By leveraging multiple communication elements in a coordinated and harmonized manner, an IMC program creates synergy. This means that the combined effect of all the communication elements working together is greater than the sum of their individual effects. The synergy generated by an IMC program enhances the impact and effectiveness of the message delivered to the target audience.
Using an IMC program allows for a holistic and integrated approach to marketing communication. It ensures consistency in messaging, reinforces brand identity, and maximizes the reach and engagement with the target audience across various touchpoints. By employing a mix of communication elements that complement and reinforce each other, an IMC program can create a stronger and more memorable impression on the target audience.
Furthermore, an IMC program enables better coordination and integration of marketing efforts across different departments and stakeholders within an organization. It fosters collaboration between advertising, sales, public relations, and other departments, ensuring that all communication elements align with the overall marketing strategy and objectives.
In summary, the advantage of using an IMC program over a single marketing communication element is the synergy it creates through the integration and coordination of various communication elements. This synergy enhances the effectiveness and impact of the message delivered to the target audience, leading to better brand recognition, engagement, and overall marketing success.
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Select the correct answer.
Ahmed has been running a laundry service in his neighborhood for the past eight years. He picks up soiled clothes and delivers washed and ironed clothes at the customers’ doorsteps. A transporter who offers to pick and deliver customer clothes at a cheaper rate than his current transporter approaches him for a business deal. What do you think Ahmed should do in such a case?
A.
immediately discontinue services of the current transport person
B.
continue the services of the current transport person forever
C.
delay the payments of the current transport person so that he willingly discontinues his services
D.
wait until the contract with the current transport person ends before using the new transport person
Answer:
D) wait until the contract has ended
The Finishing Department hod 6,500 incomplete units in its beginning Work-in-process inventory which were 100% complete as to materials and 40% complete as to conversion costs. 18.000 unts were received from the previous department. The ending Work-in-Process inventory consisted of 3.500 units which were 50% complete as to materials and 40% complete as to conversion costs. The Finishing Department uses first.in, first-out (FIFO process costing How many units were started and completed during the period? Multiple Choice a. 24,500 b. 14,500 c. 15,000 d. 21,000
The units that were completed during the period is 21,000.
So, the answer is D.
Given Data:
In beginning Work-in-process (WIP) inventory = 6,500 units
18,000 unts were received from the previous department
Ending WIP = 3,500 units
Conversion cost = 40%
Materials cost = 100%
Using FIFO (First in first out) process costing, we have to determine the number of units started and completed during the period
.Now, the total number of units in beginning WIP and received from the previous department is:
Units transferred in from the previous department + Units already in Finishing Department's WIP inventory = 18,000 + 6,500 = 24,500 units
Thus, a total of 24,500 units were started during the period.
The units that were completed during the period is given by:
Units started during the period - Units in ending WIP inventory= 24,500 - 3,500 = 21,000 Units
Therefore, the correct answer is d. 21,000 units.
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outline 2 advantages to H&H of using secondary market research
Mohammad is the project manager of a project to build 2 labour houses each month and completed after 12 months. Each house plan to cost SAR10000. 20 labour houses have been built after 9 months and CPI is 0.85106 a) What is the actual cost of the project right now? b) What is the project's estimate at completion? c) How much more money will it take to complete the project? d) How is the project performing?
To calculate the actual cost of the project right now, we need to determine the actual cost of the 20 labor houses built after 9 months.
a) Actual cost of the project right now:
Actual cost = Number of labor houses built * Cost per labor house
Actual cost = 20 * SAR10000 = SAR200000
To calculate the estimate at completion, we need to consider the planned cost for the remaining labor houses.
b) Estimate at completion:
Estimated cost per labor house = Cost per labor house * CPI (Cumulative Performance Index)
Estimated cost per labor house = SAR10000 * 0.85106 = SAR8510.6
Number of labor houses remaining = Total number of labor houses - Number of labor houses built
Number of labor houses remaining = 24 - 20 = 4
Estimated cost at completion = Estimated cost per labor house * Number of labor houses remaining
Estimated cost at completion = SAR8510.6 * 4 = SAR34042.4
To calculate how much more money will be required to complete the project, we subtract the actual cost from the estimate at completion.
c) Additional cost required to complete the project:
Additional cost required = Estimate at completion - Actual cost
Additional cost required = SAR34042.4 - SAR200000 = SAR13957.6
To assess how the project is performing, we can compare the actual cost with the planned cost.
d) Project performance:
If the actual cost is lower than the planned cost, the project is performing better than expected. If the actual cost is higher than the planned cost, the project is performing worse than expected.
In this case, the project is performing worse because the actual cost (SAR200000) is higher than the planned cost (SAR10000 * 20 = SAR200000).
Please note that these calculations assume that the cost per labor house remains constant and do not consider any other project expenses or factors.
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