Answers
Successful pricing strategy shall be choices value based, proactive and profit-making too in their execution stage. Option D is correct.
What is pricing strategy?The techniques and procedures used by businesses to choose the prices they will charge for their goods and services are known as pricing strategy.
Further pricing of product is an important marketing mix element because it is the price that maker charge for the products & service it make and pricing strategy is the method use to determine that price.
Further depending on the sector and type of business, value-based, competition-based, cost-plus, and dynamic pricing are all regularly employed approaches.
Thus it has all of the above feature mentioned above.
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Related Questions
Which career requires LESS education than an Auditor?
a) Accountant
b) Bookkeeper
c) Credit Analyst
d) Financial Manager
Answers
Which of the following best describes the initial impact this deposit will have on the bank’s balance sheet?
Answers
The initial impact of a deposit on a bank's balance sheet is an increase in both assets and liabilities. The deposit increases the bank's liabilities in the form of customer deposits and increases the bank's assets in the form of cash or reserves.
The initial impact of a deposit on a bank's balance sheet can be described as an increase in both assets and liabilities.
When a customer makes a deposit, the bank records the deposit as a liability because it owes the customer the money.
At the same time, the bank also records the deposit as an asset because it now has the customer's money, which it can use for lending and other activities.
Specifically, the deposit will increase the bank's liabilities in the form of customer deposits. This is because the bank is now obligated to return the deposited funds to the customer upon request.
At the same time, the deposit will increase the bank's assets in the form of cash or reserves. This is because the bank now has more money available to fulfill its obligations to customers.
In terms of the balance sheet equation (Assets = Liabilities + Equity), the deposit will increase both sides of the equation. The increase in liabilities represents the increase in customer deposits, while the increase in assets represents the increase in cash or reserves.
It's important to note that this initial impact on the balance sheet does not affect the bank's equity. Equity represents the bank's ownership interest and is not directly impacted by the deposit.
However, the bank can use the increased assets resulting from the deposit to generate profits, which can then increase the bank's equity over time.
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Which of the following characteristics does NOT usually apply to process operations?
A. Each unit of product is separately identifiable.
B. Partially completed products are transferred between processes.
C. Each process is a separate department.
D. A separate Work in Process Inventory is used for each process.
E. Costs are computed using equivalent units.
Answers
Jeff needs car insurance. He is debating between purchasing liability insurance or a comprehensive policy. What is one TRUE statement about these options that can help him make an informed decision?
a) Liability insurance offers coverage when there is a theft.
b) Liability insurance offers to replace the car if it is destroyed in an accident.
c) A comprehensive policy usually requires a lower premium than liability coverage. d) A comprehensive policy is generally required if a bank helps you purchase a vehicle.
Answers
A comprehensive policy is generally required if a bank helps you purchase a vehicle.
Before, buying a car insurance policy, Jeff must take into consideration that a comprehensive policy is generally required if a bank helps an individual to purchase a vehicle. Therefore, the option D holds true.
What is the significance of a car insurance policy?There are a number of car insurance policies, such as a comprehensive car insurance that ensures reimbursement of the damages caused due to an accident for which the policy has been made. A comprehensive insurance policy is also the most commonly taken car insurance policy.
A liability insurance policy, on the other hand, is a policy that ensures the reimbursement of the claim of damages caused to another person's property due to the car being involved in such accident.
Therefore, the option D holds true regarding the significance of a car insurance policy.
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How long do you believe it would take you to be ready for a leadership position? :
Answers
Answer:
1 day
Explanation:
1. Define and give examples of John Maxwell's 5 levels of leadership discussed in class.
Answers
Answer:
Level 1: Position - This is the lowest level of leadership and refers to a person who has been given a leadership role or position, but has not yet developed the necessary skills or abilities to lead effectively. A person at this level may rely on their title or position to try to exert influence, but may not have the respect or trust of their followers.
Level 2: Permission - At this level, a leader has earned the trust and respect of their followers, and can influence them by building relationships and engaging with them on a personal level. A leader at this level may not have a formal position of authority, but is able to inspire and motivate their followers through their personal characteristics and abilities.
Level 3: Production - At this level, a leader is able to not only inspire and motivate their followers, but also to achieve results and produce tangible outcomes. A leader at this level is able to create a vision for their team and to execute a plan to achieve it, resulting in success and progress.
Level 4: People Development - At this level, a leader is not only focused on achieving results, but also on developing the people on their team. A leader at this level is able to identify the strengths and weaknesses of their team members, and to provide the support and guidance they need to grow and develop.
Level 5: Pinnacle - The highest level of leadership, this level is characterized by a leader who has achieved both personal and professional success, and has a profound impact on their organization and the people they lead. A leader at this level is able to inspire and motivate others to achieve their full potential, and to create a lasting legacy in their field.
Mitchell Bicycle Shop has the following transactions related to its top-selling Mongoose mountain bike for the month of March. Mitchell Bicycle Shop uses a periodic inventory system. Date Transactions Units Unit Cost Total Cost March 1 Beginning inventory 20 $185 $3,700 March 5 Sale ($270 each) 15 March 9 Purchase 10 205 2,050 March 17 Sale ($320 each) 8 March 22 Purchase 10 215 2,150 March 27 Sale ($345 each) 12 March 30 Purchase 9 235 2,115 $10,015 For the specific identification method, the March 5 sale consists of bikes from beginning inventory, the March 17 sale consists of bikes from the March 9 purchase, and the March 27 sale consists of four bikes from beginning inventory and eight bikes from the March 22 purchase. Required: 1. Calculate ending inventory and cost of goods sold at March 31, using the specific identification method. 2. Using FIFO, calculate ending inventory and cost of goods sold at March 31. 3. Using LIFO, calculate ending inventory and cost of goods sold at March 31. 4. Using weighted-average cost, calculate ending inventory and cost of goods sold at March 31. 5. Calculate sales revenue and gross profit under each of the four methods. 6. Comparing FIFO and LIFO, which one provides the more meaningful measure of ending inventory? 7. If Mitchell Bicycle Shop chooses to report inventory using LIFO instead of FIFO, record the LIFO adjustment.
Answers
Bikes from initial inventory are included March 5 sale, a March 17 outsourcers bikes from March 9 sale, or Mar 27 sale includes four bikes from the initial balance & eight bikes from March 22 purchase. 1/2 is need.
Now what you mean by inventory?All the products, materials, and things that a company keeps on hand in anticipation of selling them to customers for a profit are referred to as inventory. Example: If a newspaper seller utilizes a vehicle to distribute newspapers to clients, just the newspapers will be deemed inventory.
What are the four different categories of inventory?Raw materials/components, WIP, final products, and MRO are the four main categories of inventory.
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Using the SMART goal-writing criteria, what refers to asking how to achieve the goal?
A:Realistic
B:Specific
C:Attainable
D:Measurable
The answer is specific
Explication:just got a 100%
Answers
Answer:
A. Realistic
Explanation:
Realistic is asking if you can realistically achieve your goal and how.
9. A Japanese car manufacturer built a factory in the United
States, It did so to reduce shipping and other costs. Make a list
of who will benefit and who will not benefit from this factory.
Answers
Answer:
Se benefician los estado unidenses porque no tienen que pagar más por el coche, también porque al abrir una fábrica pueden llegar a crear más de 5.000 puestos de trabajo. Y los japoneses no salen beneficiados porque la empresa que lleva los coches de Japón a estados unidos seguramente sea japonesa y también los trabajadores japoneses pierden trabajo
Explanation:
Why a manufacturer who makes watches involved in trade
Answers
Answer:
to make money, if they trade their watches they will be expanding their business
Select the correct point on the graph. Which point on the graph indicates the lowest quantity supplied of goods? 9.00 8.00 Price per Pound 7.00 6.00 5.00 4.00 3.00 2.00 supply Curve 1,000 2,000 3,000 4,000 5,000 6,000 7.000 Quantity in Pounds
Answers
Answer:
It would be A
Explanation:
the right location on the graph. Which point on the graph represents the lowest number of items supplied It is 9.00 8.00 Price per Pound. As a result, choice (A) is the right one.
What is meant by supply Curve?In economics, supply refers to the quantity of a resource that businesses, producers, workers, suppliers of financial assets, or other economic agents are willing and able to offer to the market or to a specific person. Supply can refer to manufactured items, labor hours, raw resources, or any other limited-supply or high-value item.
Supply is frequently represented graphically as a supply curve, with the price per unit on the vertical axis and the amount delivered as a function of price on the horizontal axis. This undesirable yet common practice involves flipping the independent and dependent variables from their regular positions.
The supply curve might represent a single seller or the market as a whole, totaling the quantity given by every vendor.
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er taxes, of R227 000 and preference share dividends of R10 000. If the company had a number of ordinary shares outstanding of 76 262, what was its earnings per share (EPS)?
Answers
The company's earnings per share (EPS) was calculated to be R3.03
Earnings per share (EPS) is calculated by dividing the company's net income by its number of outstanding shares. In order to calculate EPS, we must first calculate the company's net income. The net income of the company is given as R227,000 from regular taxes and R10,000 from preference share dividends. Therefore, the company's total net income is R237,000.Next, we must calculate the company's earnings per share (EPS). We are given that the company had a number of ordinary shares outstanding of 76,262. Therefore, the company's EPS is calculated as follows:Earnings per share (EPS) = (Net income - Preferred dividends) / Number of outstanding sharesEarnings per share (EPS) = (R237,000 - R10,000) / 76,262Earnings per share (EPS) = R3.03Therefore, the company's earnings per share (EPS) was R3.03.Summary: Earnings per share (EPS) is calculated by dividing the company's net income by its number of outstanding shares. In this problem, we are given that the company had a net income of R237,000 from regular taxes and preference share dividends, and a number of ordinary shares outstanding of 76,262. Therefore, the company's earnings per share (EPS) was calculated to be R3.03.For more questions on Earnings per share (EPS)
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Question 33 (12 points)
Listen
Suppose that an economy is producing real GDP valued at $15.5 trillion, but the
economy's potential level of production is $18 trillion. First explain what type of
production gap this is and how unemployment will be impacted. Then explain both
how the federal government might use its three fiscal policy tools and how the
Federal Reserve would use its three traditional monetary policy tools.
Answers
The type of production (or GDP) gap identified is the Negative production Gap. This is a situation where the economic output is less than the full capacity output.
How will the Negative Production Gap impact Unemployment?A negative Unemployment Gap always translates to low growth and further shortfall in output and increasing rates of unemployment.
Three fiscal policy tools that can be used to tackle this situation are:
The above tools are expansionary in nature. They have the effects of stimulating aggregate demand hence causing an expansion in production and reducing unemployment.
The three monetary tools that can be used to combat the above situation are:
Open Market Operations such as buying back government bonds;Reduced discount rates which increase money supply; andReducing reserve ratio are all expansionary. They will increase the money supply and stimulate aggregate demand.Learn more about Negative Production Gap at:
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Need answered quickly....Please Help!
3. According to the Theory of Liquidity Preference, a fall in the price level reduces the amount of money that people wish to hold. As a result, falling interest rates stimulates investment spending and aggregate demand. Give an example of this and explain.
Answers
Answer:
The liquidity trap occurs when interest rates are at or close to 0%, but people still hoard cash instead of spending or investing it, hampering monetary ...
Explanation:
An increase in the money supply reduces the equil interest rate for any given price level. Because a lower interest rate stimulates investment spending, ...
The more productive a company can be, the greater its return on that investment and the higher the profit.
True
False
Answers
Answer: true
Explanation:
What is the main advantage of being a productive worker?
OA. You can create a lot of products or services quickly.
OB. You are able to work in a field with a high market value.
O C. You are given access to the benefits of worker organizations.
OD. You do not have to follow restrictive regulations.
SUBM
Answers
Answer:
There are many advantages of being a productive worker. The first advantage is that you can earn more money. You will be able to earn more money if you are a productive worker because you will have the opportunity to work with companies that pay higher salaries. The second advantage is that it gives you the opportunity to have a better lifestyle, for example, having an apartment or house and buying things for yourself and your family. The third advantage is that it gives you the opportunity to do things on your own time without being punished by your boss or company for not showing up at work on time.
Explanation:
You, a Captain, are a section chief in Military Personnel and 2d Lt Smith’s supervisor. Lt Smith is a Force Support Officer. She has been on active duty for a year and in her present job for 10 months. She supervises 21 enlisted personnel who perform a variety of administrative tasks in support of a tactical fighter wing. She majored in business administration in college, served 3 years as an administrative specialist, and was an E-4 before being accepted for OTS. As an enlisted member, she graduated from technical school as an honor graduate and was cited on numerous occasions for outstanding performance. Her supervisors considered her a valuable asset to the unit and an expert in her area of responsibility. She’s very enthusiastic about her work and plans to make the Air Force a career.
Lieutenant Smith took over her job 2 months after the unit had received a rating of “marginal” by the numbered Air Force Inspector General’s evaluation team. At the end of her first week on the job, Lt Smith called her NCOIC and key supervisors together and told them that she wouldn’t tolerate marginal performance, that she had previous experience in this type of work, and would be looking at the quality of their work very closely. Since that time, Lt Smith has attempted to supervise every phase of work in her office and, at times, has involved herself in even the most routine decisions. Lt Smith assigns people to certain jobs within the office, plans the work schedule, leave schedule, and does most of the counseling in the office.
In the last 6 months, Lt Smith has ordered several people to work overtime to complete routine work ahead of schedule. Each time this has happened, the NCOIC has asked the lieutenant for permission to speak to her immediate supervisor. On each occasion, the lieutenant has told the senior master sergeant he must not take these internal problems to you, because she’ll take care of any problems in her section--and the NCOIC should remember who writes his EPR.
Most of the time, when Lt Smith approaches the work or break area where the workers are congregated, she notices all conversation stops and the personnel won’t talk to her unless she addresses them first. After reviewing a report yesterday, Lt Smith became very impatient. She bypassed his NCOIC and took the report directly to the Airman who had typed it. While Lt Smith was berating the Airman about the typing errors, the NCOIC walked into the office and asked the Airman what the problem was. The lieutenant became flustered, told the NCOIC she was tired of doing his job for him, and shoved the report into his hands. Lt Smith then went into her office and slammed the door.
The NCOIC relayed this situation to you and asked for your help. How will you help? BACKGROUND
*ENVIRONMENT: Airforce Base
*PEOPLE INVOLVE: The Captain, Lt Smith, Airman and NCOIC.
PROBLEM DEFINATION
*Lt Smith Unprofessional Behavior
DIAGNOSIS
*Marginal Performance
*Previous Experience
*Enthusiastic With her Job
*Academic Credibility
Answers
The lieutenant Smith has taken leave, and everything is running smoothly. People are, however, more attentive when she is present. Decisions are being delayed, and morale was low. The and other important supervisors are worried which some people may decide to due to her supervision, leave the service style.
Several issues must be addressed as a result of this case study. Lieutenant Smith's micromanagement technique is causing morale issues and may lead to retention issues, which is one of the main concerns. It's also troubling that she's requesting people to work extra hours without proper authorization or regard for the impact on their personal lives.
As her boss, you ought to tackle these concerns with Lt Smith and advise her on proper supervisory techniques. You could advise her to delegate more responsibilities to her NCOIC and other key supervisors, and to concentrate in strategic planning and decision-making instead of micromanaging every detail. We should also emphasise the significance of adhering to proper procedures for authorising overtime and taking into account the impact on personnel.
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If your manager were to give you a complex project that involved a lot of research and analysis to provide information to write a detailed and accurate report, how might you make it more manageable? What type of communication skills would that require? Please write at least 5 sentences.
Answers
A large project report can be easier to manage if the key components are first outlined as a thesis statement and the duties are divided into manageable chunks.
A report is what?A report is a written statement or document that outlines the major problems or happenings inside an organization and aids in understanding the internal and external forces at play.
It's crucial to have written communication abilities that enable someone with a strong vocabulary to precisely communicate the notion to the reader in order for a report to be effective and correct.
It is necessary to create an outline plan for the task that needs to be done since it aids in framing the report aspects when a project report requires extensive research and analysis to deliver information.
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ABG
Question 14
Some fast-food restaurants sell only chicken, others sell only tacos and burritos, and still others sell only hamburgers. This is an example of the economic concept of
investment
А
B
business cycles
C
specialization
D
elasticity
Answers
Answer:
i think it is eaither b or c
Explanation:
Answer: C- specialization
Explanation:
Question 2. (6)
Briefly explain why Investors, Competitors and Suppliers take interest in
accounting information related to a business. (Please include examples)
Answers
Answer:
They like googIe
Explanation:
Describe how sales and consumer-related legislation and regulations affect the delivery of customer service
Answers
Health and safety legislation affects customer service delivery as it requires staff in an organization to ensure the safety of themselves and others, and act responsibly.
There are many perspectives like Changes to tax regulations and rates can have a significant impact on a business. For example, a fall in the rate of corporation tax reduces the amount of tax that corporations have to pay on their profits.
Customer service staff who deal with customers should know about the impacts and effects of legislation and regulations that protect the consumer when buying goods and services.
Governments issue regulations related to environmental practices, employee practices, advertising practices, and much more.
Government regulations affect how companies structure their businesses, where companies decide to locate, how they classify their employees and thousands of other things.
Environmental regulations, intended to protect human health and the environment, generally result in higher production costs and lower productivity in firms, which can lead them to shift investment and production to less stringent locations.
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a. Fiscal Policy involves changing _______________. In the United States, Fiscal Policy is implemented by the ____________.
b. _____________ can be used to address a Recessionary Gap by ________________ taxes and ___________________ government purchases.
Answers
Answer:
a. Fiscal Policy involves changing government purchases and tax. In the United States, Fiscal Policy is implemented by the federal government.
b. An expansionary fiscal policy can be used to address a Recessionary Gap by reducing taxes and increasing government purchases.
Explanation:
Fiscal policy can be described as the employment of the government purchase and taxation level by the federal goveernment with the aim of influencing the aggregate demand and economic activity level.
Expansionary fiscal policy occurs when the government increases its purchases and reduces taxes in order to close Recessionary Gap, while contractionary fiscal policy is when the government reduces it purchases and increases taxes.
Based on this explanation, we have:
a. Fiscal Policy involves changing government purchases and tax. In the United States, Fiscal Policy is implemented by the federal government.
b. An expansionary fiscal policy can be used to address a Recessionary Gap by reducing taxes and increasing government purchases.
In a manufacturing company, which budget is used as the basis for creating the direct materials budget, the direct labor budget, and the manufacturing overhead budget?
Answers
In a manufacturing company, the budget which is used as the basis for creating the direct materials budget, the direct labor budget, and the manufacturing overhead budget is the Production budget.
The materials budget is used to plan how many raw materials we will need to have on the side in order to meet our production targets. This budget is prepared in the same manner as the production budget, as the company must decide how much raw materials inventory to keep on hand at the end of each quarter.
The direct labor budget is basic. Firstly, we need to know how many units are needed from the production budget. Then, we need to know how many direct labor hours are required to complete one unit, as well as the cost per labor hour.
The manufacturing overhead budget is the final budget for manufacturing. It is developed in accordance with how the company allocates overhead.
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The table below shows Lanark's production possibilities.
A B C D E F
Wheat 0 180 315 405 450 468
Cars 190 181 163 127 73 0
a. If Lanark is producing 145 cars, it can produce approximately
wheat.
b. If Lanark is currently producing combination C, the cost of 90 more wheat is
(Click to select)
.
c. If Lanark is currently producing combination D, the approximate per unit cost of an additional car is
(Click to select)
. If necessary, round your answers to 1 decimal place. Remember to round 0.05 up to 0.10.
Answers
If Lanark is currently generating 145 buses, it can generate about 180 units of wheat. .
b. The cost of 90 further wheat is 90.
c. The approximate per unit cost of an fresh auto is 54.
To determine the approximate quantum of wheat Lanark can produce if it's presently producing 145 buses , we need to find the matching value in the" Wheat" column. Grounded on the given table, we can see that the values in the" buses" column drop from left to right. thus, we need to find the combination where the number of buses is closest to 145, which is combination B. In combination B, Lanark can produce roughly 180 units of wheat.
We can find the cost of 90 further wheat by comparing the wheat values between combinations C and D, If Lanark is presently producing combination C. The wheat value in combination C is 315, and the wheat value in combination D is 405.
The difference between these two values represents the fresh wheat produced when moving from combination C to combination D. In this case, the difference is 405- 315 = 90. thus, the cost of 90 further wheat is the difference between the wheat values in combination C and D, which is 90.
we can determine the approximate per unit cost of an fresh auto by comparing the auto values between combinations D and E, If Lanark is presently producing combination D. The auto value in combination D is 127, and the auto value in combination E is 73.
The difference between these two values represents the drop in auto product when moving from combination D to combination E. In this case, the difference is 127- 73 = 54.
thus, the approximate per unit cost of an fresh auto is the difference between the auto values in combination D and E, divided by the drop in auto product, which is 54/ 1 = 54.
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Elana has opened a new aerobics studio in her area. How might Elana use social media as a market to spread the word about her new studio?
Answers
Elana can use social media as a marketplace to promote her new studio in a variety of ways such as:
Creating social media adsCreating valuable content for your target audienceStrengthening the relationship with your consumersHow does social media help a business grow?Social networks are easy-to-use and inexpensive platforms for sharing ideas, advertising, etc. It is a medium where potential consumers can be found who can engage with valuable content posted by a company and be interested in it.
Therefore, social media can help Elana develop her business through direct advertising and reaching a wider audience.
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Question 4 of 4
How impactful was high shipping demand on
customer questions?
Not
impactful
Extremely
impactful
Submit
Answers
Customers often have a lot of questions. Extremely impactful was high shipping demand on customer questions.
What is customer experience: This is simply known as the product of an interaction that exist between an organization and a customer.
Customer service is simply the assistance provided by a company to individuals who buy or use its products or services.
The questions of customers will help one to know if the high shipping demand is due to the needs of the customer.
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What do most companies do when they look to provide an offering to global markets?
Your
1) inform their competitors of their move to a global market
You do
2) send a memo to their internal employees
one op
3) adjust the offering to meet the needs of various other buyers around the globe
4) hold a press conference to answer media questions about selling the offering globally.
Answers
Making an adjustment to the offerings to meet the needs of various other buyers around the globe is done by most of the companies when they look to provide an offering to global markets. Therefore, the option 3 holds true.
What is the significance of global markets?Global markets can be referred to or considered as the relevant market for a business organization or a firm that deals in products or services such that their consumption is at a global level, and two or more countries or continents at large.
When companies require access to the global markets for expansion, they have to keep in mind the needs and demands of different kinds of buyers around the globe too, so that they have an opportunity to attract customers around the globe.
Therefore, the option 3 holds true and states regarding the significance of global markets.
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In Arizona, a tenant on a lease
Answers
In Arizona, a tenant on a lease has specific rights and responsibilities as governed by the Arizona Residential Landlord and Tenant Act.
When you enter into a lease agreement, you are entering into a legally binding contract with the landlord, and it's important to understand your rights and obligations.
As a tenant on a lease in Arizona, you have the right to a habitable dwelling. This means that the landlord is responsible for maintaining the rental property in a safe and livable condition, including necessary repairs, plumbing, heating, and electrical systems.
You also have the right to privacy. The landlord must provide reasonable notice before entering your rental unit, except in emergency situations. They cannot enter the premises without your permission or harass you.
Your responsibilities as a tenant include paying rent on time and in full according to the terms of the lease agreement. You are expected to keep the rental unit clean and undamaged, and to use it in a reasonable manner. Any damages caused by your negligence may be deducted from your security deposit.
If you encounter any issues or disputes with the landlord, it is recommended to document the problem in writing and notify the landlord promptly. You may also consider seeking legal advice or contacting the Arizona Residential Landlord and Tenant Act's enforcement agency for further assistance.
Remember to carefully review your lease agreement before signing it and seek clarification on any unclear provisions. Understanding your rights and responsibilities as a tenant on a lease in Arizona is essential for a smooth and lawful tenancy.
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Lewis Company’s standard labor cost of producing one unit of Product DD is 3.20 hours at the rate of $12.50 per hour. During August, 42,600 hours of labor are incurred at a cost of $12.65 per hour to produce 13,200 units of Product DD.
A. Compute the total labor variance.
B. Compute the labor price and quantity variances.
C. Compute the labor price and quantity variances, assuming the standard is 3.5 hours of direct labor at $12.85 per hour.
Answers
Answer:
a. $10,890 Favorable
b. The labor price variance and quantity variance are $6,300 Favorable and $4,500 Favorable respectively.
c. The labor price and quantity variance is $8,520 Unfavorable and $46,260 Unfavorable respectively.
Explanation:
a. The computation of Total labor variance
= (Actual hours × Actual rate) - (Standard hours × Standard rate)
= (42,600 × $12.65) - ( 13,200 units × 3.2 × $12.5)
= $538,890 - $528,000
= $10,890F
b. The computation of the Labor price variance
= Actual hours × ( Actual rate - Standard rate)
= 42,600 × ( $12.65 - $12.5)
= 42,000 × $0.15
= $6,300 F
The computation of Labor quantity variance
= Standard rate × ( Actual hours - Standard hours)
= $12.5 per hour × ( 42,600 hours - 42,240 hours )
= $12.5 per hour × 360 hours
= $4,500 F
c. The computation of Labor price variance
= Actual hours × ( Actual rate - Standard rate)
= 42,600 × ( $12.65 - $12.85 )
= 42,600 × - $0.2
= $8,520 Unfavorable
The computation of Labor quantity variance
= Standard rate × ( Actual hours - Standard hours)
= $12.85 per unit × ( 42,600 hours - 46,200 hours)
= $12.85 per unit × - $3,600
= $46,260 Unfavorable.
As part of your new job at Buzz Building, you join ongoing work to complete construction of a bridge. You are told that a new batch of steel beams have arrived but come from a new vendor. You don't know anything about the specific alloy types, but your colleague says he checked the compositions and the new steel beams are identical in composition to the old steel beams. Based on the identical composition, he concludes that these new beams should have the same mechanical properties and that construction should continue. What would be your response?
a.) You would disagree and say that work should stop until you can confirm exact specifications because a material's properties can depend upon other structural features besides composition.
b.) You would agree because as you learned in MSE 2001, the properties of a material depend solely upon the material's composition.
c.) You would disagree and say that work should stop until you can confirm exact specifications because a material's properties can depend upon the shape and size as well as composition.
d.) You would agree because a material's properties depend solely on composition and are independent of the size or shape of a material.
Answers
You would disagree and say that work should stop until you can confirm exact specifications because a material's properties can depend upon other structural features besides composition.
correct option: a
What is specification?One of the most important components of a product's manufacturing process is the specification, or spec. The content and manufacturing methods of the items we utilise, as well as whether or not they will satisfy the demands of the intended market, are all determined by specifications.
Requirement specifications come in a variety of forms. They include Functional Requirement Specifications (FRS), Performance Requirement Specifications (PRS), Configurations Requirement Specifications (CRF), Business Requirement Specifications (BRS), Reliability Requirement Specifications (RRF), Compatibility Requirement Specifications (CRF), and Software Requirement Specifications (SRS). The most frequent ones are the Business Requirement Specification (BRS), the Software Requirement Specification (SRS), and the Functional Requirement Specification (FRS).
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