Identify and briefly describe the main components of a typical marketing plan
What will be an ideal response?
A marketing plan contains six basic sections. The executive summary provides a brief overview of the primary goals, recommendations, and planned actions included in the marketing plan. The company description, purpose, and goals follows the executive summary and is used to describe the history of the business, its core competencies, and its competitive advantages. The third section of the marketing plan is the marketing situation section, which assesses competitors, customers, distribution channels, and the marketing environment. Next is the forecasting section, which focuses on the anticipated revenues and expenses based on the achievement of predefined marketing goals. The fifth section is the marketing strategy, which lays out the procedures the business intends to follow to meet its marketing objectives. Finally, the business plan closes with a measurement and controls section. This section identifies the process the company will use to monitor achievement of the marketing objectives.
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Requirements 1. Compute the product cost per harmonica produced under variable costing. 2. Prepare an income statement for January, 2019
Louie's Music produces harmonicas that it sells for $12 each. The company computes a
new monthly fixed manufacturing overhead allocation rate based on the planned number
of harmonicas to be produced that month. Assume all costs and production levels are
exactly as planned. The following data are from Louie's Music's first month in business:
Home Decor Company manufactures special metallic materials for luxury homes that require highly skilled labor. Home Decor uses standard costs to prepare its flexible budget. For the first quarter of the year, direct materials and direct labor standards for one of their popular products were as follows:
Direct materials: 2 pounds per unit; $3 per pound Direct labor: 4 hours per unit; $14 per hour Home Decor produced 5000 units during the quarter. At the end of the quarter, an examination of the labor costs records showed that the company used 30,000 direct labor hours and actual total direct labor costs were $375,000. What is the direct labor cost variance? (Round any intermediate calculations to the nearest cent, and your final answer to the nearest dollar.) A) $45,000 Favorable B) $280,000 Favorable C) $280,000 Unfavorable D) $45,000 Unfavorable
When excessive competition replaces the cooperation necessary for organizational and individual success, communication can be diminished, if not eliminated
Indicate whether the statement is true or false
Gainesville Company has provided the following information
Sales price per unit $56 Variable cost per unit 12 Fixed costs per month $12,000 Calculate the contribution margin ratio. (Round your answer to two decimal places.) A) 21.43% B) 82.35% C) 64.71% D) 78.57%