The above figure shows the domestic market for wheat. WebIn addition to the direct cost of providing services, governments also incur indirect costs. Therefore, companies should consider using measures to help evaluate manager performance. All of the following are examples of increased customer value from organizational synergy except which? Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese, Fundamentals of Financial Management, Concise Edition, Which of the following financial statements should be prepared first? -The difference between actual and budgeted amounts, The purpose of a responsibility accounting system is to provide information to: (Check all that apply.). As Ashlyn Kohler explains, building professional relationships can help soon-to-be graduates envision a dream job and perhaps lead to that job through professional connections. Janice is conducting a(n) _____. Which of the following are problems associated with quantitative data? 37) Which of the following is an assumption under FIFO process-costing method? In the context of components of company vision, _____ are the foundation for all the decisions an entrepreneur will make as his or her company grows. The organization needs to be categorized under the traditional value proposition are evaluated under the criteria of. **
Instructions
** Which of the following describes both the growth in information that inundates businesses each day and the complex tools used to analyze the data and derive meaningful insights? ABC manufacturing has decided to use a custom component to decrease the ability of competitors to copy their design, the disadvantage of this is, Innovation allows suppliers and purchasers to work together continually to improve. The division's return on investment is %. The types of products or services to offer are strategic ___________ decisions, while what to make or buy are strategic _________ decisions. The entrepreneur and the founding team often perform all the functions when a business is starting, and much of the work is accomplished through a(n) _____ network of relationships. Trevor has decided to speak face-to-face with his customers so he can ask them about their buying behaviors in the fast-food industry. When a rent ceiling is ________, consumer surplus and producer surplus shrink, a deadweight loss ________, and resources are lost in search activity and evading the rent ceiling law. All of the following are included in an ideal positioning statement except which? If Kelly wants to access and use the information stored in a data warehouse, she would rely on _______. When supply chain managers consider logistic needs, the packaging can affect. WebEUPOL COPPS (the EU Coordinating Office for Palestinian Police Support), mainly through these two sections, assists the Palestinian Authority in building its institutions, for a future Palestinian state, focused on security and justice sector reforms. The division's residual income is $. ABC manufacturing wants to understand their business needs better, to do this they must first know who, Supply management is concerned with the _______ proposition of specific needs, Besides the dollar value, items are considered strategic if, Reviewing corporate need under a financial examination allows supply managers to help. $$ Which of the following is an example of an indirect selling expense? **b. What is a factor that is the key to a business's success that competitors can't easily copy? _____ is an amount of cash that is often based on the sales and collection cycle of a business. individual contributions to the field of TQM. Which of the following is NOT a characteristic of communication in an effective team? Demand analysis is a tool used when determining which component of the four Ps? During the period, a company reports Sales of $38,000, Cost of Goods Sold of $20,000, and Income of $1,500. ______ links market needs to an organization's marketing program. T/F. Bank A has a leverage ratio of $10$ , while Bank B has a leverage ratio of $20$ . A rent ceiling controls the rent portion of the cost of housing but not the search cost. $417,80035%\$417,800 \times 35\% Another name for the plan development stage of marketing research is _______. 4. Listen to the complete question. measure and evaluate the results of the countermeasures. To determine the reorder point, the _______ time is necessary. Which of the following is the most advanced brain-scanning technique available today? WebIndirect costs are costs that are not directly accountable to a cost object (such as a particular project, facility, function or product). If the weight variance differs from .000004.000004.000004, the injection molder is out of control. A(n) _____ is an informal panel of experts and other people who are interested in seeing a new venture succeed. Scheduled maintenance: Thursday, December 8 from 5PM to 6PM PST hello quizlet Why is random assignment of participants to groups an important aspect of a properly designed experiment? ), -Actual amounts ABC automotive should. Supply chain management requires the evaluation of need under more than just strategic or traditional criteria, these newly added categories include, The three supply chain risk management categories are. 10% Chinese consumers are extremely price sensitive. Indirect Cost Rates provide: a. WebStudy with Quizlet and memorize flashcards containing terms like Suppliers and supply function are vital to, Which supply management techniques have increased over the traditional ideals?, Which term(s) are used to describe related functions within an organization that provides effective and efficient materials and services management? a. advertising budgets \ T/F. MRO is a very diverse category that generally deals with small value purchases so keeping acquisition costs low is a challenge. _____ are the fundamental beliefs that a company holds about what is important in business and in life in general. false: Employees often lose pride in their work or the incentive for continuous improvement. Data obtained from UPC codes at a check-out counter is what type of data? It has been said that for every $1 of direct costs, there is an additional $4 in indirect costs. Which of the following is a basis used to segment U.S. organizational markets? By randomly assigning participants, the researcher knows that whatever is learned from the experiment will also be true for the population from which the participants were selected. True or false: Forecasting of services is an easier process than that of tangible goods. Which of the following is the first step in the acquisition process? Refer to Exercise 7.377.377.37 (p. 386) and the weights of tees produced by an injection mold process. Where a new venture lies in the value chain will determine what its profit margins are, who its customers are, and how much it can charge for its products and services. DMAIC is the six sigma philosophy, it stands for. The government decides that all citizens deserve to watch affordable DVDs so a price ceiling of $12 per DVD is placed on DVDs. Steven and Maria are called _____. The cash conversion cycle is _. Which of the following approaches to avoiding ethical issues is best represented by the statement, "Everyone needs to look out for him- or herself. Some disadvantages of relying solely on financial measures include that: (Check all that apply.). Simply juice or fairlife milk, 2/$6 Back to Content . Which of the following common pricing strategies is a company using when it creates a complex pricing structure by combining multiple products and services into one package? Which component of the business plan is used to include items such as rsums, calculations, and surveys that support your claims in the main body of the report? If the participants are randomly assigned, the researcher can assume that the people in each group are similar. The division's return on investment is %. In addition to explaining the business model, an executive summary should include a well-thought-out summary financial plan with _____ to _____ years of projected revenues, expenses, cash flow, and headcount or personnel requirements at various milestones. Carly's House of Cards is conducting an in-store survey that asks customers what type of greeting cards they typically buy, when they usually buy them, and how much they are willing to pay for greeting cards. Building these professional connections is a process known as _____. Suppose that the government imposes a price ceiling on gasoline that is below the equilibrium price. The above figure shows the domestic market for tomatoes. Functional Magnetic Resonance Imaging (fMRI). 4. Multiply. WebStudy with Quizlet and memorize flashcards containing terms like What is the best skill essential to a project managers success that will result in a "best solution" outcome?, Cost control involves the use of "comparisons" to indicate the need to do what?, What are the 5 phases of the construction process? Which of the following is the name given to qualitative research done by observing the behavior of online communities that have been organized around a particular consumer interest? b. market competition \ Charles obtained his data on the number of births from the Census Bureau. If you could combine two of the three, which would be the second demographic you would add to each? In this figure, what area equals the deadweight loss? Which quantitative research method provides information on consumer attitudes, intended behavior, and the motivations behind behavior? Match the risk management type to the definition for supply terminology. So when the search cost is ________ the rent, some people end up paying a ________ opportunity cost for housing than they would if there were no rent ceiling. You have $\$ 8600$ to invest. Four general categories are used to segment consumer markets, one of which is. each for a different client. With _____, a series of goals are set by a company with input from an employee, and as the employee reaches each goal, the bonus is given. Marlena is putting together a focus group to obtain feedback on the new juice product her company plans to launch next year. 5) Which of the following statements is true of conversion costs? Indirect expenses (*Hint*:Yes.) This series is for the Cambridge International AS & A Level Computer Science syllabus (9608) for examination from 20 If the government imposes an effective ________, a deadweight loss ________. is the maximum price that can legally be charged. is used to complete work that has been bid out by prime contractors. The real success or failure of a quality control effort is dependent on the _____ in the process. What are the benefits of a supplier certification program for suppliers? **a. Jane's wages are an example of which type expenses? T/F. This is an example of ________ data. Which method is an unethical way of obtaining competitive intelligence? the lowest legal price at which a good or service can be traded. \text{Sanders Beverages} & \underline{281,250} & \underline{227,250}\\ The allocation methods include all of the following EXCEPT. Advertising effectiveness studies and sales tracking are aspects of the _____________component of the four Ps. some profitable opportunities may be rejected to keep return on investment high. This is an example of _______ marketing research. Sustainable supply chains require supply managers to take both _______and ________________factors into consideration. \hline 1 & 1,500 & 205 & 11 & 1,250 & 116 \\ Building a complex production system while the company is in startup or even later when it is rapidly growing is. WebStudy with Quizlet and memorize flashcards containing terms like Step 1, Step 2, Step 3 and more. Product- or project-focused organizations generally are highly _____ so that they can respond better to market demands. Having a qualified _____ on the advisory team puts a startup in a better position to seek a line of credit for operating capital or a loan to purchase equipment once the business has a track record. MRO is a very diverse category that generally deals with small value purchases so keeping acquisition costs low is a challenge. A division reports the following figures: Profit margin = 20%; Investment turnover = 0.5. Large fluctuations in demand from the retailer up through the supply chain is known as the ___________ effect. Most entrepreneurs avoid hiring employees as long as possible, because employees are the single biggest expense in the business. True or false: All make or buy decisions should emphasize the long-term goals for robust and flexible supply chains. WebStudy with Quizlet and memorize flashcards containing terms like Market Segmentation, product differentiation, market-product grid and more. Product costs has financial and nonfinancial measures. ", All of the following are part of an entrepreneur's extended network EXCEPT. Which of the following is true regarding a price support set above the equilibrium price? What ordering system that strategically positions inventory to achieve all benefits of modern supply chain management while combining traditional MRP, lean, and theory of constraints? With regard to pricing models, _____ products are defined as those whose price is transparent, easily identified, and most subject to downward pricing pressure. \sigma_1^2=98.2 & \sigma_2^2=87.4 \\ A company has days' sales in accounts receivable of 25 days; days' sales in inventory of 45 days, and days' payable outstanding of 50 days. The stocks have a correlation of $0.92$. Similar losses on bank loans at the two banks cause the value of their assets to fall by $7$ percent. In general, manufacturing and production firms are organized as product- or process-focused organizations. Entrepreneurs can reach a price that can be tested in a market by considering costs, any competitor pricing, and. A company that uses statistical techniques and algorithms based on patterns of past behavior to predict future events is using _________ _________. days' sales in inventory, Which of the indicators listed would be considered performance measures for the internal process perspective? Which of the following is NOT a primary flaw that investors commonly find in business plans? \ Which division has the highest residual income? T/F. Consider the following data drawn independently from normally distributed populations: T/F. The value of materials purchased by market grade is subject to to ascertain the degree of compliance. **Answering the ESSENIIAL QUESTION** How do corporations contribute to the growth of the U.S. economy? ", A conflict of interest occurs when a person's private or personal interests clash with his or her. A company's core values are based on the personal values and beliefs of the founder or the founding team. (Check all that apply.). measuring patterns of electrical activity emanating from the cortex region of the brain. Which division is operating more efficiently? T/F. Balance Sheet In the context of outsourcing to reduce costs, which of the following is a lesson that should be learned while outsourcing operations overseas? Which of the following is one of the biggest problems with most marketing plans? Indirect costs include administration, personnel and security costs. landlords of previously barely profitable apartments refuse to rent them. As a research technique, blog mining involves _______. adopt lean inventory principles \text{Branch Hotels}& 140,000\\ how to allocate indirect expenses Webindirect costs typically encompass components such as medical-related absenteeism, presenteeism, short- and long-term disability, and workers compensation. These are those costs which are not directly related to production. Geoffrey Moore's modification of the adoption/diffusion curve shows the _____, a period when the early adopters have been exhausted and the technology abruptly stops selling. Industrial parks are common locations for. Web(a) Facilities and administration classification. T/F, Not all businesses are affected by logistics. The fourth step in the marketing research process is _____. The division's residual income is $. What is the amount of equity?, If the assets of a business increased $107,000 during a period of time and its liabilities increased $76,000 during the same period, equity in the business must have:, Zippy had cash inflows from Parul is working on the _______ step of the marketing research process. ** Using the transaction data above, prepare (1) a cash-basis income statement and (2) an accrual-basis income statement for the month of January. -No existing supplier in the market and not enough time to spend developing one before the product is required. This is known as _______. Collaborative Planning, Forecasting and Replenishment helps customers enjoy _____________product availability. 2) Vital Industries manufactured 1,200 units of its product Huge in the month of April. "Cookies" that are placed on consumers' browsers in order to trace which websites they visited are a form of _____. On January 1, 2020, Norma Smith and Grant Wood formed a computer sales and service company in Soapsville, Arkansas, by investing $90,000 cash. Which of the following statements is accurate when discussing the challenges associated with gathering qualitative data? A car manufacturer has ________ the installing of windows in all their models to a third party vendor. 3) When a Bakery transfers goods from the Mixing Department to the Baking Department, the accounting. WebUse Six Sigma to Control Indirect Costs. A) inventory-costing systems B) job-costing systems C) process-costing systems D) weighted-average costing systems, 2) Which of the following companies is most likely to Justify your answer. WebSave Mart weekly ad 10/12/22 for next week in your email, subscribe now. 6) A hybrid-costing system is a variant of process-costing that allows it to incorporate benefits of standard, 7) An operation-costing system is a hybrid-costing system applied to batches of similar, but NOT, Fundamentals of Financial Management, Concise Edition, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Daniel F Viele, David H Marshall, Wayne W McManus, The random variable $x$ has a normal distribution with $\mu=40$ and $\sigma^2=36$. The government introduces a minimum wage of $7 per hour. )Agency costs are only created when the interests of agents and principals are aligned. Which of the following types of board member would be needed for a business in the maturity stage? T/F, All of the following are adopter groups EXCEPT. ), -Indirect to the research department The marketing plan is quite similar to market analysis. The above figure shows the market for DVDs. Why is punishment a controversial way of controlling behavior? Costs that are incurred for the joint benefit of more than one department and cannot be readily traced to only one department are called expenses. $$ Low prices on Save Mart ads this week California pizza kitchen, 2/$10 Taylor farms salad blends, 2/$4 St. Louis style pork spareribs, buy one get one free Henry weinhard's gourmet soda, $4/99 Jumbo raw shrimp, $5.99 lb. Total expenses allocated to operating departments. Which of the following customer groups would Ellie most likely belong to? The _____ of a product/service is the price as compared to competing productsthe expected price. {\sigma}{\sqrt{n}}\right)$ Verified answer. Direct spend is likely to be______while indirect spend is normally ________________. In the figure above, the number of workers employed is ________, and the wage paid is ________. It is not useful in determining the reason behind people's behaviors. 5. Suppose that the government imposes on gasoline that is below the equilibrium price. Brand specific requirements can deprive the buyer of using other suppliers. true. The first step in the marketing research process involves. Dating back to Charles Darwin's work on evolution, it has long been understood that facial expressions are universally linked to emotions. In his report, Mario stated that even though the research had been completed as requested, it did not adequately represent the population under study. Round your answer to two decimal places. Corinne's company is conducting a survey and has selected participants who meet the following criteria: age 25 years or older, live in the southwestern part of the United States, speak Spanish. 6) An example of a business which would have no beginning or ending inventory but which could use. (Check all that apply. The company's target return on investment rate is 20%. Standardize and apply improvement to other parts of the organization. $$ True or false: The human element is critical in many services. how to allocate service department expenses. _____ are the group of customers who tend to purchase a product only if they absolutely have to. if a rent ceiling is imposed that is less than the equilibrium rent, which of the following outcomes is most likely to occur? \end{array} 27) An assumption of the FIFO process-costing method is that ________. T/F. A retail store has 10,000 square feet of space and incurs rent costs of $5,000 per month. Based on the demand estimated for the app during a free trial, the amount of usage, and the demographics of the users, MAD estimates that the app will sell 4,000 units over a period of three months. True or false: Requirements evaluated under the service criteria are easier to quantify than the remaining traditional criteria. If operating correctly, the process will produce tees with a weight variance of .000004.000004.000004 (ounces) 2{ }^22. Which of the following is perhaps the most critical factor in effective startup teams? A rent ceiling below the equilibrium rent, The above figure shows a labor market with a minimum wage of $8 an hour. \end{array} The six eligibility categories for the Malcolm Baldrige National Quality Award are: manufacturing, service. A quantitative research method called _______ data collection is a method in which participants allow applications on their mobile devices to gather information about them or their environment. 5 & 1,250 & 181 & 15 & 2,000 & 245 \\ Organizations often increases in their competitive advantages due to. When trying to estimate how much consumer demand there is for a particular product and the factors that drive that demand, a company would use _______. A component of Prince's ________ strategy is choosing appropriate promotion and distribution strategies to influence the place a product occupies in the consumer's mind. At startup, the organization chart is more likely to be _____, reflecting the fact that the entrepreneur and the founding team often perform all the functions when the business is starting. A process that is in a state of statistical control with only common cause variation is considered. The researcher has participants taste the old product along with the new reformulated product. pay extra attention to any special needs. _____ is the third step in the marketing research process. According to the six sigma philosophy, if you control the ________inputs , ______, you will control the. The increase in the minimum wage decreases the quantity of labor demanded. What is the confidence level of each of the following confidence intervals for $\mu$ ? T/F. What are the difficulties when acquiring services? setting specific objectives for the research. offer customers a discount for prompt payment, Which of the indicators listed would be considered performance measures for the financial perspective? d. indicate the methods of accomplishing the work. In an effort to ensure that marketing firms are not compelled to just return findings favorable to a client or come up with a conclusion that was suggested by a client, the American Marketing Association has _______. The costs of completed campaigns are debited to the cost of services account. If only two of the cards in the hand are clubs, what is the probability that the chosen card is a club. ____ is found by subtracting variable costs from revenues and dividing the difference by revenues to yield a percentage. involves a firm using different marketing mix actions, such as product features and advertising, to help consumers perceive the product as being different and better than competing products. An informal evaluation of service suppliers should include questions on. StaffRight is a(n), To ensure compliance with IRS regulations while hiring independent contractors, an entrepreneur should do all of the following EXCEPT. In this figure, what area equals the total subsidy paid to tomato farmers? Capital expenditures are shown as on the balance sheet. Criteria for forming segments involve both similarities and differences. WebGuidance on Indirect Costs for State/Local Governments. Choose the reasons a firm should purchase goods or services over making them. ** Using the transaction data above, prepare (1) a cash-basis balance sheet and (2) an accrual-basis balance sheet as of January 31, 2020. (Check all that apply.). $2,500,000 x __% = $250,000. Entrepreneurs need to remember that _____ costs are the biggest costs a business will bear because of all the associated taxes and any benefits offered. Jane works in the maintenance department which supports both the production department and the research department. The _____ process consists of a series of inputs, such as raw materials, labor, and machinery, which are then transformed through a series of processes into new products and services. The _____ represents how a startup uses its cash to cover its overhead before it generates a positive cash flow from operations. This demonstrates a benefit of _______ research. One hundred percent inspection means that. c. What portions of administration costs each programs should bear. are colored regions overlaid on an image and are the most frequently offered eye-tracking output. If a price ceiling is introduced in the market for milk below the market equilibrium price, then the producer surplus made by dairy farmers ________. Representing the entrepreneur in any legal actions. An equitable allocation of Indirect Costs across all projects/contracts. The predetermined overhead rate is 70% of media purchases. Use the statements for $p,$ $q,$ and $r$ as in previous Exercises to write the statement in symbolic form. Which of the following is an important benefit of demonstrating proof of concept (POC) with a prototype? an indirect relationship? Which of the following would NOT be one of Bill's concerns? Could a companys change in NWC be negative in a given year? c.)Agency costs are increased when agents prioritize the interests of principals. The target population is narrowed by a criteria before selecting participants. This information is a form of _______ data. 47 terms. When ------- stock is not available, the quality of all incoming components, parts, and services must be adequate. The division should accept the project because the return is greater than the company's target return on investment rate. Round answer to the nearest hundredth. Costs readily traced to a department because they are incurred for that department's sole benefit are called expenses. The best way, and sometimes the only way, to accurately gauge customer demand is to. List the steps in allocating costs to operating departments and preparing departmental income statements, with the first step on top. employee Investors focus on the first 18 months to 2 years of a startup because during that time, the entrepreneur is 7) In a series of interdepartmental transfers, each department is regarded as separate and distinct for, 8) When calculating the costs to be transferred using the FIFO method, we should not include costs, 9) Transferred-in costs are always 100 percent complete at the beginning of the process in the new, 10) Transferred-in costs are costs incurred in previous departments that are carried forward as the. True or false: Controllable costs are the same as direct costs. Carli is taking the information she learned from the focus group and placing it into a spreadsheet, so she can identify the trends in buying habits of the participants. Often quality assurance is responsible for inspection of materials at receiving, in-process, and with the ______ product. T/F. A well-written paragraph of a marketing plan includes all of the following EXCEPT the, Banner exchange programs are an example of a(n). A way in which startups become more flexible and responsive, as well as grow more rapidly, is by forming _____, or teams of businesses, to share resources and reduce costs. _____ is a data-driven approach to eliminating defects with a goal of 3.4 defects per million. ____ refers to operating a business in a way that exceeds the ethical, legal, commercial, and public expectations that society has of the business. A group of consumers are given various types of at-home exercise equipment and are asked to use the products for 6 months. Which of the following is an advantage of using an inventory management company? After this price ceiling is in effect, deadweight loss equals ________. T/F. _____ employs a pull strategy, generally focusing on non-price benefits and targeting end-users. The Pareto curve is often called the ______________ - _____________ rule, or ABC analysis. WebWhat is Six Sigma? Field experiments allow researchers to ______. WebStudy with Quizlet and memorize flashcards containing terms like Chapter 5, Understanding market segmentation is an important step in formulating business-level strategies because:, Which of these examples represents a company that has selected a differentiation strategy? Why do firms find primary data more valuable than secondary data? Job W, which is still in process at year-end, shows charges of 2,500 for DM and they can encourage managers to focus too heavily on short-term financial goals. In some industries, particularly labor-intensive ones, the only way to achieve competitive costs is to manufacture in a country where, All products are appropriate for offshore manufacturing. T/F. A price support leads to inefficiency because, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman, Statistical Techniques in Business and Economics, Douglas A. Lind, Samuel A. Wathen, William G. Marchal, Alexander Holmes, Barbara Illowsky, Susan Dean. Steven and Maria are trained researchers. Indirect cost proposals must follow the cost principles available at 2 CFR Part 200, Appendix VII. A secondary data source would be data collected. An accountant is an advocate, but a lawyer is bound by rules and ethics that do not permit advocacy T/F, Boards of publicly owned corporations can be composed of inside or outside members or a combination of the two. The new company, Arkansas Sales and Service, has the following transactions during January. Which neuromarketing technique looks for active areas in the brain by measuring the amount of oxygenated blood flowing through the body? 16) The equivalent unit concept is a means by which a process costing system can compare partially, 17) The accuracy of the completion estimate of conversion costs depends on the care, skill, and experience, 18) In a process-costing system, there is always a separate Work-in-Process account for each different, 19) A production cost worksheet is used to summarize total costs to account for, compute cost per. In Eastern culture, ethical behavior tends to be described in terms of appropriate behavior, moral standards, and compliance. To directly compare two versions of a product to see which one customers prefer, a researcher would most likely use ______. If the division has income of $600,000 and $2,500,000 in average assets, what is the target income %? The data might not measure what the researcher intended it to. This is an example of _____. Valerie has been asked to complete a _______. To learn this information, Nalia's best form of research would be _______ research. T/F, During an interview, understanding who the candidate is can be effectively accomplished in part by asking. Changes in the prototype can be made early in the process when changes are less costly. Which of the following best accurately describes a Yankee bond? The manager of a certain division at Alpha Manufacturing is evaluated on how efficiently the division uses equipment, buildings, and other assets to generate profits. What is Quality Function Deployment (QFD)? What process is Kyra using to find her information? _____ is a tool for increasing the level of visibility of an entrepreneur's website when customers search for the company online. The general recommendation is to have no fewer than _____ and no more than _____ board members. Which of the following best describes the benefits of observation as a data collection technique? the place a product occupies in a consumer's mind relative to competitive products. Quality function deployment was developed in Japan during the _____. The costs associated with defects incurred within the system that can lead to scrap, rework, repair? To speed up the cash conversion cycle a company can: (Check all that apply). What is the expected return and volatility of the portfolio? In this figure, after taking account of the resources lost in search, what area is equal to the consumer surplus? State/Local Governments may support the indirect costs that they incurred by submitting an Indirect Cost Rate (ICR) proposal or a Cost Allocation Plan (CAP) to their Federal cognizant agency. One marketing action that can be taken to sell a single product or service to multiple market segments is to. every part is checked to tell whether or not it is defective. By using infrared/near infrared light, which technology allows researchers to directly measure how consumers allocate their attention to various marketing and non-marketing stimuli in their environment? Specification by material and method of manufacturing places the risk and responsibility on the _________ organization. WebQuestion: 1. the price they pay for goods they resell. A company has days' sales in accounts receivable of 40 days; days' sales in inventory of 55 days, and days' payable outstanding of 30 days. Which of the following factors does NOT play a role in the rate at which a new product is adopted across the various customer segments? Which of the following is NOT a strategy that can help entrepreneurs arrive at a realistic forecast of demand for their product or service? Income. Which method of description is confined to certain primary materials? uses insights and tools from neuroscience to better understand consumer responses to different kinds of marketing stimuli. **c.** A bond issued by Toyota in the United States with the interest payable in yen. The following pairs of investment plans are identical except for a small difference in interest rates. Total current assets/Total current liabilities, The strongest product proof of concept (POC) is a working prototype. When it was started at Motorola two decades ago, Six Sigma was a quality control device used to make operations more efficient. T/F, How a product or service is priced is a function of a company's, A process map details how information flows through a business. _____ is a strategy in which a company starts with a high price to capture uniqueness and competitive advantage, and then drops the price as competitors enter the market in order to stay ahead of competition. Dollars spent on training. evaluate managers' performance. 4 & 1,250 & 151 & 14 & 1,500 & 206 \\ The figure above shows the supply and demand curves in the market for rental housing. Building brand equity requires that customers form an emotional attachment to the brand. \end{array} The _____ of a region or community is simply the major source of income for the area. 211287. What five areas can supply manager focus on for reduced complexity and exploitation of economies of scale? Valerie's company recently increased the price of its most popular brand of dog shampoo. The underbanked represented 14% of U.S. households, or 18. A(n) ______________ _____________ system helps a company continuously capture marketing information and stores that information so that it is accessible to researchers. \text{Branch Hotels} & 247,500 &303,750\\ In general, founders who bring the idea or seed capital to the venture will receive a premium on the share of stock they receive, typically between _____ and _____ percent. Suppose this market is isolated from global competition and there is a support price set at $16. Profit margin is: A division reports the following figures: sales = $140,000; income = $2,800; average assets = $28,000. There are five forms of inventory that include raw materials, work-in-process, _______________goods, ________ items, and resale items. Supplier evaluations include evaluation criteria to assess, Compressed cycle times and proper coordination of material can result in materials arriving ______________ _________ ________, Forecasts are typically _________ continuous improvement methods can help increase, ______ __________ forecasts follow patterns over time, Time Series forecasts follow patterns over time, The supply manager for ABC manufacturing wants to ensure he orders the right components when required by production; he must ensure he includes forecasting, costs, price-volume relationship, availability, and _______ when making decisions, Reduced cycle times and more responsive acquisition methods are the direct efforts of. T/F. Which of the following is a service that consultants do NOT provide? Examples of pool accounts are: Insurance Premiumsfor the building that houses the company Human Resources Holiday Pay(when applicable) Bank Charges(excluding unallowable WebStudy with Quizlet and memorize flashcards containing terms like tax farmers., the quantity of apartments demanded will increase., 30; 20 and more. indirect manufacturing costs. Which of the following is the formula for the current ratio? Which type of research is being conducted? In service businesses, the cost of goods sold is equivalent to the time expended to _____ and _____ the service. The figure above shows supply and demand in the market for labor. The five forms and functions of inventory give supply managers types of inventory to operate with. Which of the following are considered indirect costs for workplace accidents? An entrepreneur's personal _____ is really a function of the core values and vision that the entrepreneur has for his or her life. Nalia has a small business that sells knit hats and gloves. It is a high-profile item for regulatory agencies such as DCAA for sure. T/F. Accounting 222-Financial Accounting Basics vi, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Fundamentals of Financial Management, Concise Edition, Principles of Managerial Finance, Brief Edition. Today it is much easier for a new venture to achieve total in-house control of its value chain. indirect cost: [noun] a cost that is not identifiable with a specific product, function, or activity. A _____ involves customer discovery and business model validationtesting your business model in the market with real customers to determine the conditions you must have in place to ensure a successful launch. The marketing research process contains _______ steps. True or false: In some instances, 100 percent inspection can significantly increase the cost of producting a part. After a company releases a promotional program, it should follow changes in sales during and after the promotion to see how sales were affected. Which is a recent trend in marketing research? The result is ________ price and ________ farm production in the developing economies. How is language an obstacle to global marketing research? A division of a manufacturing company has a return on investment of 24%. "Sinc The Age Discrimination in Employment Act applies to all companies with _____ or more employees. a _________ means the different methods by which the buyer communicates to the seller a clear, detailed picture of the required item. output is more than the efficient, equilibrium quantity. Today, product/service warranties are not a competitive marketing tool. 2 & 750 & 70 & 12 & 500 & 72 \\ resources used in job-search activity increase compared to the situation before the minimum wage. The figure above shows the market for sugar beets. 2) Which of the following companies is most likely to use process costing? It is this theory that is behind the use of _______ as a research technique. An indirect cost in construction is an expense that doesn't relate directly to the functions, products or operations of a construction project. 7 & 1,000 & 94 & 17 & 750 & 63 \\ The coffee is Maxwell House or the coffee is strong. 1) The weighted-average process-costing method calculates the equivalent units by ________. Other Quizlet sets. assign costs and expenses to the managers responsible for controlling them. (Check all that apply. When entrepreneurs develop job descriptions, they should include _____ to prepare for the eventuality of hiring employees. This demonstrates the idea of _____ sampling. True or false: Bribing the employees of a competitor for product information is a common and ethical business practice. The length of a warranty depends on _____, whereas the components of the product or service depend on _____. In the figure above, if the minimum wage is $8 per hour, then. he American Marketing Association defines the term _____ as a "name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct" from other sellers. 2) In a process-costing system, the calculation of equivalent units is used for calculating ________. ** A bond issued by General Motors in Japan with the interest payable in U.S. dollars. 2. Phillip works for a sports-supply company and is in the process of gathering data on the strategies its competitor is using to gain market share. If a rent ceiling is imposed that is less than the equilibrium rent, which of the following outcomes is most likely to occur? Explain how this might come about. Value proposition describes how _______ will improve customer success and allow the organization to do better. Which of the following are reasons that a company may choose to make over buy? Tracking and compiling consumer behaviors anonymously. Which of the following would NOT be considered a stakeholder of a company? Specify the competing hypotheses in order to determine whether or not the population means differ. T/F, Today, spending money to find new customers is more important than retaining and maintaining current customers. What major developments does MRP II have from MRP? A company has days' sales in accounts receivable of 40 days; days' sales in inventory of 55 days, and days' payable outstanding of 30 days. The 80/20 rule is most closely related to which basis of segmentation? Operating department income statements are used to evaluate the performance of ______ centers. What are the two main pillars of a lean enterprise? a black market for labor that pays less than the minimum wage. The figure above shows that the lowest wage rate for which someone is willing to work is. Which of the following is NOT an input in the production process? WebIn FY 2016-2017, 37.6% of SMSF audits cost $0-$499, 50.4% of SMSF audits cost $500-$999, 9.8% of SMSF audits cost $1000-$1999, and 2.1% of SMSF audits cost $2000 or more. It seeks to understand consumer behavior by answering the questions who, what, when, where, and how. Schedule delays 2.Re-training 3.Cost of medications 4.Cost of legal services 5.Cost of workers' compensation Damage to machinery 2 See answers Advertisement ayfat23 Advertisement 221453 Advertisement Advertisement \text{Starks Bank} &\$126,000 &\$\hspace{5pt}472,500\\ Departmental contribution to overhead reports. -A list of all controllable costs \text{Finley Airlines} & 56,250 &416,500\\ Pays$6,000 in advance for 3 months' rent of office, showroom, and repair space. $$ Solve. 39) A disadvantage of the weighted-average method compared to the FIFO process-costing method is. The amount of advertising allocated to Department 3 will be $. The above figure shows a housing market with a rent ceiling equal to $1,000. What type of inventory that is managed by the supplier and at a minimum means the supplier determines when to replenish and how much to replenish? Which of the following is a key component of behavioral targeting? total quality Management - In TQM all members of an organization participate in process improvement. ISO 9001:2015 defines the requirements for a quality system, but does not ___________ how they should be be met. True or false: Additional criteria that have been added for supply chain managers to evaluate corporate need from has made supply management easier. Which service department is most likely to use square feet of floor space occupied as the allocation base to assign its costs to operating departments? Both answers create a deadweight loss and benefit people who live in rent controlled apartments are correct. e. the location strategy for the business. -Specifications cannot be laid down with sufficient accuracy. Purchases 40 personal computers at a cost of $1,500 each, 6 graphics computers at a cost of$2,500 each, and 25 printers at a cost of $300 each, paying cash upon delivery. When beginning the process of data collection, a firm must decide whether to use _______ or _______ data. (Check all that apply. You would decide what type of research you will use during the _______ stage of the marketing research process. that is useful for testing and learning both sides of supply without fully committing is known as. What are the challenges service industries face in adopting quality standards? Accumulate sales, direct expenses, indirect expenses by department (b) Write the Excel formula for the first \bar{x}_1=25.7 & \bar{x}_2=30.6 \\ Select which of the following accurately describe a focus group, Marlena is putting together a focus group to obtain feedback on the new juice product her company plans to launch next year. Part of Dr. Ekman's FACS system is the detection of _______, small, split-second changes in facial muscle movements. D. Statement of Cash Flows. A cost that a manager can determine or influence is called a(n) cost. A measurement instrument exhibits ________ if it measures what it is supposed to measure, and not something else. Marketing research affects each aspect of the four Ps: product, place, promotion, and _______. It has been reported that _____ percent of a company's business comes from current customers and of those customers, _____ percent will be the source of most of the company's profits. This scenario exemplifies, A demand analysis is most likely to be conducted by a company seeking to. When a minimum wage is ________, the firms' surplus and workers' surplus shrink, a deadweight loss ________, and resources are lost in job search. Decisions related to allocating expenses include: (Check all that apply). Standard specifications offer advantages of, Descriptions for supplies can be given using a variety of forms, supply personnels responsibility is to. _____ is the management and control of the flow of goods and resources from the source of production to the marketplace. T/F, Many ventures start as _____ where the owners are considered "members" and "managers. _____ is managing the flow of material and information from raw materials to finished goods. To keep the price at this level, the government will ________ million tons of wheat. Prince Sports has adopted social media marketing in its promotion strategy because social media like Facebook has a significant impact among younger customers. Which of the following are characteristics of nonprobability sampling? \hspace{10pt}\text{Total}&\underline{\underline{\$450,500}}\\ Find a value of $x$, call it $x_0$, such that, $P\left(x_0 \leq x<\mu\right)=.45$. Which of the following words or phrases should an entrepreneur avoid using in an executive summary? Import restriction in advanced economies deny developing economies access to the food market of the advanced economies. When trained observers watch and interact with a subject in his or her natural environment, _________ research is taking place. Select the 3 answer options that apply. This is an example Profit centers commonly use _____ to report profit center performance: Julie works in the production department. Into which of the three elements of manufacturing cost would each of the following be classified? by an organization every day for its routine operations. boost the incomes of low-wage earners. Commodity managers must be aware of _________ ,conditions to ensure they meet supply and demand, price movements, and proper acquisition timing. In an effort to keep the nation warm, the president places a price ceiling of $100 in the market for winter jackets. The above figure shows a labor market with minimum wage equal to $16. 25) A distinct feature of the FIFO process-costing method is that the ________. A(n) accounting system provides information that management can use to evaluate a department's manager. For a self-insured employer, direct injury costs include: Claim Cost 80%. Company A has a return on investment of 20% and Company B has a return on investment of 24%. Many companies now have______ who serve as watchdogs, guarding against unethical practices in their company's collection of consumer data. The quantity and inventory levels maintained depend on ________ or ____________and if the inventory is dependent or independent. A division reports the following figures: Sales = $50,000; Net income = $5,000; Average assets = $30,000. Direct expense PSC offers a full range of top-level review and negotiation services for indirect cost rates and cost allocation plans associated with Federal grants and contracts. The largest change in online research over the last decade has come from _______. This scenario exemplifies. T/F, A(n) _____ is the region from which you expect to draw customers. True or false: MRP allows for how much and when to order decisions to be made simultaneously. offer customers fewer days to pay T/F. To be successful contractors need to get a good handle on managing indirect costs. -Suppliers are publicly recognized by buyers. New York City, which has had a rent ceiling law for more than sixty years, has many abandoned apartment buildings throughout the city. ), Employee satisfaction Which of the following is a characteristic of early adopters? 1) Costing systems that are used for the costing of like or similar units of products in mass production are. Name two products for which each of the three following demographic variables would be most influential in determining consumption. Calculate the probability of the following events: 25 shutouts in 400 games. Primary data collection methods can either be _______ or _______. The company's three selling departments have the following sales: Department 1$10,000; Department 2$30,000; Department 3$40,000. Discuss the difference. True or false: Statistical Process Control (SPC) is an industry-standard methodology for measuring and controlling quality during the manufacturing process. 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