Assume the following demand curve: Q = 50,400 – 1,200(P). Variable costs are estimated to be $25.82. Calculate total contribution margin at the optimal price. Round your answer to the nearest dollar.
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- The list price of the snow blower is $200 less 25%, 10%, less 5%. There is a 2% cash discount offered for your payment in 10 days. What is the amount to be remitted if the cash discount is earned?Below are the market prices and historical prices that your company has been paying for three different purchasing teams. Which of the purchasing teams is performing the BEST? Steel Paper Fuel a) Steel Ob) Paper PPI (Market) Oct-19 173.7 176.3 166.8 Oct-20 191.7 186.5 187.6 O) Fuel O d) None of the teams are performing well Oe) There is not enough information to make a determination Actual (Historical) Oct-19 2.25 27 132.75 Oct-20 3 28.8 145Director of legal services of ABC Company must decide whether to hire another full-time lawyer or to hire part-time lawyers. Anticipated costs for the two options under three possible demand levels are given in the table below: States of Nature Low Medium High Alternatives Demand Demand Demand Hire full-time $460 $380 $430 Hire part- $560 $500 $770 time Probabilities 0.25 0.25 0.5 What is the EMV of the best decision? Specify only the amount. e.g. 350 Answer:
- Why might some prefer a prix fixe (fixed price) dinner costing about the same as an à la carte one (where they pay individually for each item)? Assuming the food is the same.40 - A hospital is evaluating whether to outsource or perform in-house a large set of blood and urine laboratory tests. The fixed cost of the laboratory equipment located in the hospital is $800,000 and the weighted average variable cost per test if performed in-house is $28.75. A third-party lab located three miles from the hospital will perform the same tests with more advanced and faster equipment. The lab distributes the results electronically to the hospital at a price of $31.00. If the annual volume last year was 250,000 tests, should the hospital do all lab tests in-house or outsource? Use the Excel template Break-Even to determine the best decision. Outsource InsourceBriefly write about the impact of technology on the cost estimation technique and its types, such as Engineered estimate of cost, Analysis at the account level, and Regression analysis.
- Standard Costing; Variance Analysis; Strategic Considerations In a Wall Street Journalarticle, the author notes that various retailers in the United States (e.g., Meijer, Gap, and OfficeDepot) are turning to consulting firms, such as Accenture, to develop engineered labor standards forcashiers and other retail workers. Monitoring labor-hour consumption (i.e., labor efficiency) undersuch standards involves timing from the first scan of an item in a customer’s purchase to the production of a sales receipt for the customer. A commentator for Meijer states that the system now in usehas enabled the company to more efficiently staff stores while concomitantly increasing customerservice ratings. A representative from another client of Accenture states that the new system allowsthe retailer to determine how many workers to schedule at a given time, resulting in a labor-costreduction of approximately 8%. Engineered standards were developed many years ago in a manufacturing environment, at…Is it possible to keep production prices below those of the competition?ExplanationFranklin Company makes fine jewelry that it sells to department stores throughout the United States. Franklin is trying to decide which of the two bracelets to manufacture. Cost data pertaining to the two choices follow. Bracelet A Bracelet B Cost of materials per unit Cost of labor per unit Advertising cost per year Annual depreciation on existing equipment %24 30 37 43 43 8,800 6,500 7,700 5,900 Required a. Identify the fixed costs and determine the amount of fixed cost for each product. b. Identify the variable costs and determine the amount of variable cost per unit for each product. c. Identify the avoidable costs and determine the amount of avoidable cost for each product.
- In a yield management system, pricing differences must appear logical and justified to the customer. What is the basis for this justification commonly called?If the unit selling price is P16, the unit variable cost is P12, and fixed costs are P160,000, what is the break-even sales (units)?6. Laura is trying to decide whether to sell her knitted hats on Etsy, at a holiday bazaar, or in a local boutique. Demand could be 0 hats/month, 10 hats/month, or 20 hats/month. Given the payoff matrix below, what is her decision under equally likely? Demand = 0 Demand = 10 Demand = 20 Etsy -$70 $80 $230 Bazaar -$60 $90 $240 Boutique -$80 $70 $220 Select one: a. Etsy and boutique. b. Etsy only. c. Etsy and bazaar. d. Bazaar and boutique. e. All 3 are equally good. f. Bazaar only. g. None of them are good options. h. Boutique only.
