Explain how a firm benefits from using sense-of-mission marketing
What will be an ideal response?
Sense-of-mission marketing means that the company should define its mission in broad social terms rather than narrow product terms; when a company defines a social mission, employees feel better about their work and have a clearer sense of direction.
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What factors should be considered by cosmetic companies to be successful in markets in Brazil, Russia, India, and China?
What will be an ideal response?
Which of the following criteria must be met in order to recognize revenue in the current accounting period?
a. Delivery has occurred or the services have been rendered. b. Price is fixed or determinable. c. Collectibility if reasonably assured. d. All of the above.
Vattes, Inc., manufactures and sells two products: Product I5 and Product U1. Data concerning the expected production of each product and the expected total direct labor-hours (DLHs) required to produce that output appear below: Expected Production Direct Labor-Hours Per Unit Total Direct Labor-HoursProduct I5700 7.0 4,900 Product U1200 4.0 800 Total direct labor-hours 5,700 The direct labor rate is $22.00 per DLH. The direct materials cost per unit for each product is given below: Direct Materials Cost per UnitProduct I5$261.60 Product U1$121.60 The company is considering adopting an activity-based costing system with the following activity cost pools, activity measures, and expected activity:Activity Cost PoolsActivity MeasuresEstimated Overhead
CostExpected Activity???Product I5Product U1TotalLabor-relatedDLHs$268,698 4,9008005,700Machine setupssetups 37,324 300400700Order sizeMHs 633,895 4,9004,8009,700 $939,917 The overhead applied to each unit of Product U1 under activity-based costing is closest to: (Round your intermediate calculations to 2 decimal places.) A. $1,863.60 per unit B. $659.60 per unit C. $1,044.35 per unit D. $1,568.40 per unit
To treat family and nonfamily employees as similarly as possible in a business, it is important to:
A. create career ladders for nonfamily members. B. provide favorable treatment to nonfamily members. C. have separate personnel policies for family and nonfamily members. D. guarantee the possibility of employee ownership.