What is "task analysis" and how is it used in the context of variance analysis?
Task analysis examines the production process in detail with an emphasis on determining what it should cost to produce a product. In order to perform variance analysis, managers often use task analysis in order to calculate the standard costs of products. Task analysis typically involves the use of engineers who perform time-and-motion studies to determine how much material should be used in a product, how long it takes to perform certain labor tasks manufacturing the product, how much electricity and so on.
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Which of the following best represents the strategic planning time frame that Jeff Bezos of Amazon prefers?
A. Six months or less B. One to two years C. Three to five years D. Five to seven years E. Ten to twenty years
In groupthink, certain members take it upon themselves to protect the leader from dissenting opinions. This symptom is called ______.
A. illusion of unanimity B. self-censorship C. self-appointed mindguards D. collective rationalization
Demi operates Eyes Wide Open, a small-business optician enterprise. To raise capital, Demi contacts Foster, a venture capitalist. Besides capital, Foster will most likely
A. assist in the drafting of a business plan. B. decline a proportion of future profits. C. offer assistance with respect to marketing. D. refrain from demanding operational control.
Morgan Technologies sells a single product at $20 per unit. The firm's most recent income statement revealed unit sales of 100,000, variable costs of $800,000, and fixed costs of $400,000. If a $4 drop in selling price will boost unit sales volume by 20%, the company will experience:
A. a $400,000 drop in profit. B. a $240,000 drop in profit. C. no change in profit because a 20% drop in sales price is balanced by a 20% increase in volume. D. an $80,000 drop in profit. E. None of the answers is correct.