please help!
Marwick's Pianos, Incorporated, purchases pianos from a large manufacturer for an average cost of $1,490 per unit and then sells them to retail customers for an average price of $2,800 each. The compa
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The cost of goods sold for the year is $1,700,000. The value of the ending inventory using the weighted average cost method is $1,192,000.
To calculate the cost of goods sold for the year and the value of the ending inventory using the weighted average cost method, we need to determine the average cost per unit and then apply it to the number of units sold and remaining in inventory.
Average cost per unit: $1,490
Selling price per unit: $2,800
Beginning inventory: 500 pianos
Purchased during the year: 1,200 pianos
Sold during the year: 900 pianos
Calculate the cost of goods sold (COGS):
COGS = (Beginning inventory + Purchases) * Average cost per unit - Ending inventory
Beginning inventory = 500 pianos
Purchases = 1,200 pianos
Ending inventory = Beginning inventory + Purchases - Sold during the year
Ending inventory = (500 + 1,200) - 900 = 800 pianos
COGS = (500 + 1,200) * $1,490 - 800 * $1,490
COGS = $1,700,000
Calculate the value of the ending inventory:
Value of ending inventory = Ending inventory * Average cost per unit
Value of ending inventory = 800 pianos * $1,490
Value of ending inventory = $1,192,000
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--The complete question is, Marwick's Pianos, Incorporated, purchases pianos from a large manufacturer for an average cost of $1,490 per unit and then sells them to retail customers for an average price of $2,800 each. The company had 500 pianos in inventory at the beginning of the year and purchased an additional 1,200 pianos during the year. Marwick's Pianos sold 900 pianos during the year. What is the cost of goods sold for the year and the value of the ending inventory using the weighted average cost method?--
Related Questions
What is it called when managers look at the size of the variances between actual results and budgeted amounts in order to determine which variances should be investigated
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the leaders of cults most often exemplify _____ authority.
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Leaders of cults often exemplify the Charismatic authority, the correct option is (b).
The Charismatic Authority is based on the personal charisma, charm, or exceptional qualities of an individual leader. Cult leaders often possess a strong personality, persuasive skills, and a compelling presence that attracts followers and engenders their loyalty and obedience.
They are able to inspire and influence their followers through their personal charisma, rather than relying on traditional or legal positions of authority. The charismatic authority of cult leaders allows them to exert significant control over their followers and shape the beliefs, behaviors, and actions of the cult group.
Therefore, the correct option is (b).
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The given question is incomplete, the complete question is
The leaders of cults most often exemplify _____ authority.
(a) traditional
(b) charismatic
(c) rational-legal
(d) expertise-based
The leaders of cults most often exemplify charismatic authority.
In cults, the leaders most often exemplify charismatic authority. Charismatic authority is a type of authority that is based on the personal qualities and charisma of the leader, rather than on traditional or legal authority. Cult leaders possess strong personalities and are able to attract and influence followers through their charm, persuasive abilities, and perceived special powers or insights.
They often present themselves as unique and exceptional individuals with a divine or higher purpose. This charismatic authority allows cult leaders to exert significant control over their followers and maintain their influence within the group.
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why is current value and replacement cost not the same?
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Hope this helps, have a great day:)
Putting a celebrity in an ad to increase desire for a product and move consumers toward a purchase is part of what multi-stage promotional model
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Integrated Marketing Communication (IMC) corresponds to a promotion strategy whose objective is to increase the desire for a product and lead consumers to a purchase, such as placing a celebrity in an advertisement.
How is Integrated Marketing Communication carried out?The company seeks to consistently promote a message to create value and desire for a product or service through the use of different elements for promotion, such as multiple marketing channels and celebrity endorsements.
Therefore, Integrated Marketing Communication helps the company to build more persuasive and consistent marketing campaigns.
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To examine
the weekly payroll of all employees, one would look at the:
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To examine the weekly payroll of all employees, one would look at the: d. payroll register.
What is the payroll register?The payroll register is a book or record that is used to fill in the details of all the employees and their payment logs. A record of this register is often kept in good condition in case of any future discrepancies that will have to be resolved.
A person who wants to examine the weekly payroll of all employees in an organization must be able to look at the payroll register to know what is obtainable. There, he would find the names of the employees, their job roles and payment record.
Options:
a. W-4
b. employee earnings record
c. W-2
d. payroll register.
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Question 1 (10 points) 1. Create one well-stated customer related goal that would be relevant for Chatters Hair Salon. (doublecheck: Is it SMART?) 2. You are an advisor to the manager responsible for meeting this goal and they need a recommendation on how to keep track of the progress toward the goal. Provide advice that is relevant to this goal and this company.
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1. The goal is relevant for the salon and is SMART (Specific, Measurable, Achievable, Relevant, Time-bound).
SMART evaluation:
Specific: The goal specifies increasing customer satisfaction through improving the overall salon experience, focusing on the customer's perception and satisfaction.
Measurable: Customer satisfaction can be measured through surveys, feedback forms, ratings, and reviews, allowing the salon to track improvements.
Achievable: Improving the salon experience is achievable by implementing customer-centric strategies, training staff, enhancing facilities, and optimizing service processes.
Relevant: Customer satisfaction is a key factor in the success of any service-oriented business, making it highly relevant to Chatters Hair Salon.
Time-bound: The goal does not specify a specific time frame, so it would be beneficial to set a deadline or target, such as increasing customer satisfaction by a certain percentage within six months or a year.
2. Recommendation: Implement customer feedback collection, monitor KPIs, provide staff training, and initiate improvement initiatives to track progress toward the goal.
Regularly collect customer feedback: Use customer surveys, feedback forms, and online reviews to gather insights into customer satisfaction levels and identify areas for improvement.
Monitor and analyze feedback: Assign a staff member or team responsible for collecting, analyzing, and reporting customer feedback to identify trends, common issues, and areas of excellence.
Set key performance indicators (KPIs): Establish measurable KPIs related to customer satisfaction, such as customer ratings, repeat business percentage, or positive online reviews, and track these metrics regularly.
Conduct regular staff training: Provide ongoing training sessions for salon employees to enhance their skills, knowledge, and customer service abilities.
Implement improvement initiatives: Based on customer feedback and analysis, develop action plans to address any identified areas for improvement and track the progress of these initiatives over time.
By following these recommendations, Chatters Hair Salon can effectively track progress toward their customer satisfaction goal and make data-driven decisions to continually enhance the salon experience for their customers.
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A technique that allows a researcher to determine the greatest amount of material that can move through a network is called:______
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A technique that allows a researcher to determine the greatest amount of material that can move through a network is called maximal flow.
Sampling means selecting the organization that you'll definitely acquire information from in your studies. As an example, in case you are studying the critiques of college students in your college, you could survey a sample of one hundred college students. In information, sampling permits you to check speculation approximately the traits of a populace.
Quota sampling is a sampling technique wherein statistics are accrued from a homogeneous institution. It involves a -step procedure wherein two variables can be used to filter out records from the populace. it could easily be administered and facilitated in a short assessment.
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50 POINTS
If (it) management does not "buy-in" to the plan, what might happen?
a. reduce confidence
b. nothing will change
c. increase confidence
d. management will be fired
Answers
Answer:
reduce confidence
Explanation:
i got it right on odyssey
"I can't believe it! We've spent 18 months developing a relationship with that client. Our families have even socialized together. We've become friends. And they use a one-sentence memo to tell us that we were not selected for the big contract! Not a word of thanks, not a clue as to why we were not selected. I'm very disappointed" said Hugh, Vice President of Sales. Hugh was particularly disappointed because:__________.
i. a personal text message would have been the richest medium for communicating this information memos are the least rich medium for communicating this information
ii. a personal note would have been the richest medium for communicating this information
iii. a face-to-face meeting would have been just as rich as an electronic mail message.
iv. a phone call would have been a richer medium for communicating than a face-to-face conversation
Answers
Answer:
ii. a personal note would have been the richest medium for communicating this information
Explanation:
ii. a personal note would have been the richest medium for communicating this information
In the given passage, Hugh was particularly disappointed because a personal note would have been the richest medium for communicating this information. Therefore, option B is the correct option.
When does a person face disappointment?
A person faces disappointment when his or her expectations or desires are not accomplished. Disappointment means unhappiness which is caused when some desire or wanted thing is lost or can not be obtained.
In the given passage, since Hugh and his family spent so much time with the client and his family, he expected them that they should at least inform them informally about their being rejected for the contract. The reason behind his disappointment is the expectation and not fulfilling the same as he wanted. Disappointment is the consequence of thoughts and expectations which are different from reality.
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What happens when sellers compete with other sellers to meet consumer's demands, and consumers compete with other consumers to find the goods with the lowest cost and the highest quality? Multiple select question. Markets are efficient. Markets are competitive. Markets are regulated.
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Answer:
Markets are competitive.
Explanation:
In the competitive market, the number of sellers competed with each other in terms of prices, quality, maximize the market share.
In the given situation, various sellers are competed with each other for meeting out the consumer demands also at the same time it offers the goods at lowest cost and highest quality so that it capture the whole market
Therefore the second option is correct
do you still need to pay yourself if you have an llc to increase social security retirement benefits?
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Even if you create an LLC, you will still need to pay yourself, and for Social Security purposes, those payments count as earnings.
Running a business requires you to pay yourself as the limited liability company's (LLC) owner. It entails establishing a consistent compensation or wage for yourself and paying it through the payroll system of the business. Your eligibility for Social Security retirement payments will increase as a result, which is just one of the many reasons this is crucial. You can utilise the taxable income you accrue by paying yourself a monthly salary to determine your future social security benefits. Paying yourself can also assist you in creating a distinct division between your personal and professional funds, which is crucial for tax purposes and for retaining the liability protection provided by an LLC structure.
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A student in public administration wants to determine the mean amount members of city councils earn. The error in estimating the mean is to be less than $100 with a 99% level of confidence. The student found a report by the department of labor that estimated the standard deviation to be $1000. What is the required sample size?
Answers
Answer:
663.58
Explanation:
From the problem:
E, the maximum allowable error, is $100
The value of z for a 99 percent confidence level is 2.576
Estimate of standard deviation is $1,000.
n = [(z x s)/ E] ^ 2
n = [(2.576 x 1000) / 100}^2
= 25.76^2
=663.58
Bond A and B are both Government of Canada bonds with annual coupons of $40 and a face value of $1,000. Both were is sued a few years ago and have just paid their current coupon. Bond A has 5 years to maturity and a yield of 3%. Bond B has 20 years to maturity and a yield of 4%. Therefore, the yield curve is upward sloping. Suppose the yield curve instantly inverts to 5% at the 5 -year maturity and 4.5% for the 20-year maturity. Neither bond pays a coupon in this analysis because the change is instant. Consider the price changes. Bond A drops by 6.5% and bond B drops by 8.5% Both drop by 6.5% Both drop by 8.5% Bond A drops by 8.5% and bond B drops by 6.5%
Answers
When the yield curve instantly inverts, it means that the interest rates for different maturities change abruptly. The correct answer is: "Bond A drops by 6.5% and bond B drops by 8.5%".
To determine the price changes of Bond A and Bond B, we need to calculate the new bond prices using the new yields and compare them to the original bond prices.
1. Calculate the new price of Bond A:
- Original yield: 3%
- New yield: 5%
- Coupon payment: $40
- Face value: $1,000
- Remaining maturity: 5 years
To calculate the new price, we need to discount the future cash flows (coupon payments and face value) using the new yield. The formula to calculate the price of a bond is:
New Price of Bond A = (Coupon Payment / New Yield) * (1 - (1 / (1 + New Yield)^Remaining Maturity)) + (Face Value / (1 + New Yield)^Remaining Maturity)
Plug in the values:
New Price of Bond A = ($40 / 0.05) * (1 - (1 / (1 + 0.05)^5)) + ($1,000 / (1 + 0.05)^5)
Calculate the new price of Bond A.
2. Calculate the new price of Bond B:
- Original yield: 4%
- New yield: 4.5%
- Coupon payment: $40
- Face value: $1,000
- Remaining maturity: 20 years
Using the same formula as above, calculate the new price of Bond B.
3. Calculate the percentage change in price for each bond:
Percentage Change in Price of Bond A = ((Original Price of Bond A - New Price of Bond A) / Original Price of Bond A) * 100
Percentage Change in Price of Bond B = ((Original Price of Bond B - New Price of Bond B) / Original Price of Bond B) * 100
Calculate the percentage change in price for both bonds.
Based on the calculations, the correct answer is: "Bond A drops by 6.5% and bond B drops by 8.5%".
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what are the advantages and disadvantages of a command economy. in your opinion, should america adopt this system? explain your answer in the form of
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Command economy offers centralized control but limits individual freedom and stifles innovation. It is not recommended for adoption in America.
A command economy, where the government has significant control over resource allocation and economic planning, has certain advantages. It allows for centralized decision-making, which can lead to efficient coordination and the ability to prioritize societal needs, such as healthcare and education.
Additionally, in certain cases, a command economy has demonstrated the potential for rapid development, as seen in countries like China.
However, command economies also come with disadvantages. One major concern is the lack of individual freedom and limited market competition, which can stifle innovation and entrepreneurship. The absence of market forces can lead to inefficiency and misallocation of resources.
Additionally, command economies have been susceptible to corruption and bureaucratic inefficiencies, hindering economic growth and social welfare.
In my opinion, America should not adopt a command economy. The principles of individual freedom, free markets, and competition have been key drivers of innovation, economic growth, and individual prosperity in the country.
While certain sectors may benefit from government intervention and regulation, a market-driven economy with a balance of private and public sectors provides the best framework for fostering innovation, efficiency, and individual liberty.
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government intervention is one possible solution for market failure. what is one possible reason why a government-controlled used car market may not provide an efficient outcome?
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Correcting market failure issues related to public goods, outside costs and benefits, and perfectly competitive is one of the functions of government. It is always possible for government intervention to lower deadweight losses by bringing markets nearer to efficient solutions.
An outcome can only be accomplished if government actors focus on helping the economy rather than exploiting this option to obtain their personal incentives out of it if government intervention is taken to address market failure.
Government intervention:
Government intervention to correct market imperfections and regulate the macroeconomy may fall short of achieving a socially effective resource allocation. Government engagement in the economy that results in inefficiency and the improper use of limited resources is known as "government failure."
Government-controlled used automobile markets may not be able to achieve the efficient results that we anticipate since the government's incentives may not be in line with what market efficiency prefers.
Government players might have their own motivations that might not line up with the efficiency of the market, which is one cause why a government-controlled used automobile market might not produce an efficient result.
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Sam had 12 teddy bear in his store.He sold 2/3 of them at $120 each.How much money did he revive?
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Answer:
Samantha has 8 quarts of milk. The ratio of quarts to gallons is 4:1. How many gallons of milk does Samantha have? x a. 1 over 32 x b. begin mathsize 16px style 1 half end style x c. 2 x d. 32
Explanation:
Answer:
$960
Explanation:
If he sold 2/3 of his total inventory, that means he sold in total \(\frac{2}{3}*(12) = 8\) bears.
Each bear is $120 so in total he revived $120*8 = $960
Industrial robots have completely changed manufacturing because they: Multiple select question. improve productivity can work 24/7 with great precision increase the number of jobs for humans reduce costs
Answers
Industrial robots have changed manufacturing by:
They improve productivityreduce costscan work 24/7 with great precision What are the industrial robots?These are the robots that were developed through the use of artificial intelligence.
The goal is to have the robots take on the tasks that are usually provided by humans around the world.
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The share in the company's profit is called_________.
Answers
Answer:
profit sharing
Explanation:
From Investopia they define profit sharing as
"A plan gives employees a share in their company's profits based on its quarterly or annual earnings."
4)
A)Compare and contrast the role of tribalism in Sub-Saharan Africa with that of nationalism in Europe. How might competing forms of social loyalties explain some of the development challenges and opportunities for this region?
B) Consider the development model put forward by the United States and Europe, with an emphasis on foreign assistance, and China’s emphasis on foreign investment. Will Chinese influence in the region alter the course of development for Sub-Saharan Africa?
Answers
There are concerns about the sustainability of this model and the potential for debt distress and environmental degradation.
A) The role of tribalism in Sub-Saharan Africa is different from that of nationalism in Europe. Tribalism is based on common ancestry and cultural traditions that create a sense of belonging among people of the same tribe, while nationalism emphasizes political unity and shared citizenship in a nation-state. Both forms of social loyalty have contributed to development challenges and opportunities in the region. Tribalism has sometimes led to conflicts between tribes, while nationalism has led to the formation of nation-states that have struggled to balance ethnic and linguistic diversity with political unity.
B) China's influence in the region is likely to alter the course of development for Sub-Saharan Africa, as it has emphasized foreign investment over foreign assistance. This has led to the development of infrastructure projects and the expansion of trade and investment between China and African countries.
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household not eligible for a premium tax credit because your household income is too low to qualify in your state
Answers
You are not eligible for a premium tax break and must pay back the money based payment on the own or the behalf of your tax relatives if the income shown on your tax form over 400 % income line or your family size.
What are the different forms of income?Earned, passive, and portfolio income seem to be the three basic forms of income. Earned income consists of salaries, tips, commissions, and wages. Potential passive nor unearned income sources include limited partnerships, rental properties, and royalties. Investment income can come in the form of interest, dividends, or capital gains on assets.
What are the monetary sources?Rent, salaries, interest, and profit therefore make up the household's income. Utilizing the means of production, the businesses create products and services that are offered to the home markets. Overall income of the companies sector is made up of the money which that households sections pay for these products and services.
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which of the following is most closely associated with disaggregation? multiple choice subcontracting varying inventory levels diversity firing and laying off master schedule
Answers
Overall, disaggregation through subcontracting enables organizations to optimize their resources, increase flexibility, and enhance the overall performance of the supply chain.
What is the primary association of disaggregation?Disaggregation refers to the process of breaking down a complex task, goal, or process into smaller, more manageable components or subtasks.
It involves dividing a larger entity into its constituent parts to facilitate better planning, coordination, and execution.
In the context of supply chain management, disaggregation often involves dividing the production or manufacturing process into smaller components.
This allows organizations to outsource or subcontract specific tasks or activities to specialized suppliers or contractors who can perform them more efficiently or cost-effectively.
By breaking down the production process into smaller units and assigning them to different subcontractors, companies can take advantage of the expertise and capabilities of each subcontractor, leading to increased overall efficiency and improved quality.
It also allows for better risk management, as relying on multiple suppliers reduces the impact of any potential disruptions in the supply chain.
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True or False: Service providers that have high customer satisfaction ratings this year are unlikely to achieve the same level of satisfaction next year.
Answers
Answer: False
Explanation:
Global Inc. Has a preferred share issue outstanding with a current price of $26.80. The firm is expected to pay a dividend of $1.90 per share a year from today. What is the firm's cost of preferred equity?
Answers
Answer:
7.09 %
Explanation:
Cost of preferred equity = Dividend / Market Price x 100
therefore,
Cost of preferred equity = $1.90 / $26.80 x 100 = 7.09 %
Is a business plan a one time fee?
Answers
Answer:
i think so :)
Explanation:
Porter is visiting india and would like to purchase some local spices. He finds some spices that cost 320. 38 rupees. If the current exchange rate is 1 dollar:73. 6500 rupees, how much do the spices cost in u. S. Dollars?.
Answers
Porter is visiting India and would like to purchase some local spices. So, the spices cost in u. S. Dollars is $ 4.36.
What do you mean by the current exchange rate?An exchange rate determines the price at which one currency will be exchanged for another and has an impact on international trade and money transfers.
Both the value of the home currency and the value of the foreign currency have an impact on exchange rates.
The buying rate and selling rate are the rates at which currency traders will purchase and sell foreign currency, respectively.
Given,
Cost of Spices = 320.38
Exchange rate = 73.6500
Here,
Cost of spices in Dollars = 320.38 / 73.65
Cost of spices in Dollars = 4.36
Therefore, Porter is visiting India and would like to purchase some local spices. So, the spices cost in u. S. Dollars is $ 4.36.
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Explain how productivity, demand, and availability/supply affect the values attached to money payments.
Answers
Answer:
The law of supply and demand is an economic theory that explains how supply and demand are related to each other and how that relationship affects the price of goods and services. It's a fundamental economic principle that when supply exceeds demand for a good or service, prices fall. When demand exceeds supply, prices tend to rise.
There is an inverse relationship between the supply and prices of goods and services when demand is unchanged. If there is an increase in supply for goods and services while demand remains the same, prices tend to fall to a lower equilibrium price and a higher equilibrium quantity of goods and services. If there is a decrease in the supply of goods and services while demand remains the same, prices tend to rise to a higher equilibrium price and a lower quantity of goods and services.
The same inverse relationship holds for the demand for goods and services. However, when demand increases and supply remains the same, the higher demand leads to a higher equilibrium price and vice versa.
Supply and demand rise and fall until an equilibrium price is reached. For example, suppose a luxury car company sets the price of its new car model at $200,000. While the initial demand may be high, due to the company hyping and creating buzz for the car, most consumers are not willing to spend $200,000 for an auto. As a result, the sales of the new model quickly fall, creating an oversupply and driving down demand for the car. In response, the company reduces the price of the car to $150,000 to balance the supply and the demand for the car to reach an equilibrium price ultimately.
The law of supply and demand is an economic theory that explains how supply and demand interact and how this influences the pricing of products and services. When supply exceeds demand for an item or service, prices fall. This is a basic economic premise. Prices tend to rise when demand exceeds supply.
When demand is constant, the supply and prices of products and services have an inverse relationship. Prices tend to decrease to a lower equilibrium price and a greater equilibrium quantity of goods and services when supply for goods and services increases while demand remains constant.
When the supply of products and services falls while demand remains constant, prices increase to a higher equilibrium price and a reduced quantity of goods and services are produced.
• The demand for products and services has the same inverse relationship. When demand rises but supply stays constant, the increased demand results in a higher equilibrium price, and vice versa.
• Supply and demand fluctuate until a price equilibrium is reached. Assume a premium vehicle manufacturer sets the price of their new model at $200,000.
• While the initial demand for the car may be great due to the company's marketing efforts, most people are unwilling to spend $200,000 on a vehicle.
• As a result, sales of the new model plummet, resulting in an oversupply and lower demand for the vehicle.
• As a result, the corporation lowers the price of the car to $150,000 in order to balance supply and demand for the vehicle and eventually establish an equilibrium price.
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analyse the impact of an enterprise using break even analysis to make business decisions
Answers
Answer:
Using break-even analysis in your feed and grain business can help you understand and examine the profit drivers of your business. It is a very useful tool that can help you understand how much you need to sell to cover your costs and how pricing, cost, and volume changes impact these needed sales.
During the pruning process, we remove elements of the disaggregation that have
A. the larger potential scale of impact
B. only a small influence on the problem
C. easy to affect
D. only a large influence on the problem
Answers
Option c is the right choice. We eliminate components of the disaggregation that just slightly affect the issue throughout the pruning phase.
What occurs during the pruning procedure?Each branches are cut with care throughout the pruning procedure. When all branches are chopped off randomly, this is called shearing. The latter method can be helpful in certain circumstances like maintaining topiaries or formal hedges.
What exactly is pruning?In horticulture, pruning is the removal or shaping of a plant, tree, or vine's parts that are not necessary for growth or production, are no longer aesthetically acceptable, or are harmful to the health or development of the plant.
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assume one of the public schools is privatised. what are the advantages and disadvantages of privatising the school
Answers
Answer:
Advantages:-
1.Reduced political disturbances.
2.Proper facilities
3.The discipline in student is maintained .
4.Students can get proper guidance from teachers.
Disadvantages:-
1. Fee may be increased.
2.The services may lack which was given by government funds.
3.It may cause problem to poor students from poor family.
4.Public holidays is decreased.
As owner of a chain of electronic stores, you decide to run a direct mail campaign involving coupons.
What kind of research will you do to determine the nature and type of discount you should offer?
Can you recall a time where you were asked to be a part of research? Was it qualitative or quantitative? Why?
Submit your response to the dropbox titled Types, Trends, and Limitations of Marketing Research
Answers
The goal of theoretical research, also known as pure or basic research, is to create knowledge independent of how it will be used in the real world.
What is basic research?Basic research is the systematic and empirical study of phenomena in order to gain knowledge about their underlying principles and properties. This type of research is primarily focused on expanding our understanding of the world and its natural laws rather than finding immediate practical applications. It often involves experimentation and the collection and analysis of data to develop or refine theories. Basic research may be conducted in a wide range of fields, including the physical sciences, social sciences, and humanities. The findings of basic research may be used to inform applied research or to develop new technologies, but the primary objective is to advance knowledge and understanding for its own sake.
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