A tabular presentation that shows the outcome for each decision alternative under the various possible states of nature is called a:
A) decision tree.
B) payoff table.
C) feasible region.
D) payback matrix.
Answer: B
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Moreland Manufacturing Inc Moreland Manufacturing Inc produces and sells stainless steel faucets. In the current year, the company had budgeted for the production and sale of 6,000 faucets but, due to unexpected demand, 7,000 faucets were actually produced and sold. Each faucet has a standard requiring 15 ounces of direct material at a cost of $.40 per ounce and 15 minutes of assembly time at a
cost of $.20 per minute. Actual costs for the production of 7,000 faucets were $41,359.50 for materials (106,050 ounces purchased and used @ $.39 per ounce) and $21,560 for labor (98,000 minutes @ $.22 per minute). Refer to the Moreland Manufacturing Inc information above. Moreland's direct materials price variance is: A) $1,050.00 F. B) $1,050.00 U. C) $1,060.50 F. D) $1,060.50 U.
The main advantage of a push strategy is that
A. it reduces inventory carrying costs. B. it allows firms to customize orders. C. it allows firms to respond rapidly to changing market conditions. D. it eliminates the risk associated with producing an unwanted product. E. it allows firms to achieve economies of scale.
The person committing a tort is subject to a civil law suit
Indicate whether the statement is true or false
The newly certified bargaining agent should be given a reasonable opportunity to fulfill its mandate by successfully negotiating a(n) _____ with the company.?
A) contract B) election procedure? C) collective bargaining agreement? D) affirmative action plan