Louis Company is considering replacing its multi-functional copier system with a new system. Which costs would be relevant to its decision and which costs would be irrelevant?
What will be an ideal response?
Relevant costs would include the purchase price of the new system, the market value of the existing system, and the difference in operating costs between the two systems. Irrelevant costs would include the purchase price of the existing system, depreciation on the existing system and and operating costs that do not differ between the two systems.
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Which of the following is NOT an element of the management process?
A) controlling B) leading C) planning D) pricing E) staffing
Which one of the following statements concerning supply options is BEST?
A) Subcontracting can help overcome short-term capacity shortages by offloading work on other producers. B) Creating anticipation inventory increases customization and is particularly favored in the service industry. C) Adjusting workforce levels is preferred when the workforce is skilled and the labor pool is small. D) Using overtime capacity usually improves worker hourly productivity.
Which of the following statements is true of web-based shopping and online self-service applications?
A) They reduce understanding of customer requirements and motives in the long term. B) They increase the amount of time spent in face-to-face interactions with the customer. C) They enforce more rigorous security measures than brick-and-mortar versions. D) They reduce customer loyalty in the long term.
Last month, Jim Grimshaw harvested 325 bushels of tomatoes, 218 bushels of carrots, and 560 bushels of cucumbers. He sold the entire harvest to Produce, Inc The tomatoes brought $4 per bushel; the carrots, $3 per bushel; and the cucumbers, $2 per bushel. If Jim's expenses amounted to $989, how much was his profit?