A fast-food chain wanted to add a new product to its breakfast menu. The company considered a pancake shaped like a muffin. The problem was determining how a customer would add syrup to the pancake while eating and driving
Fortunately, one of the company's suppliers developed a crystallized syrup that seeps through the pancake once it is heated. Explain the phase of new-product development that occurred during this process with the chain and its supplier? Support your rationale.
Technical development occurred during this scenario with the fast-food chain and its supplier. Technical development occurs when a firm's engineers work with marketers to refine the design and production process. The pancake was refined and redesigned to allow the new type of syrup to be added to the pancake.
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A successor auditor should request the new client to authorize the predecessor auditor to allow a review of the predecessor's:
A. engagement letter. B. engagement letter and audit working papers. C. audit working papers. D. It would not be typical to allow a review of either the engagement letter or the audit working papers.
Fulton and Sons, Inc. presently leases a copy machine under an agreement that calls for a fixed fee each month and a charge for each copy made. Fulton made 7,000 copies and paid a total of $360 in March; in May, the firm paid $280 for 5,000 copies. The company uses the high-low method to analyze costs.Fulton's monthly fixed fee is:
A. $106. B. $80. C. $112. D. $102. E. None of the answers is correct.
Gadgets Inc., received an invoice from a supplier for raw materials that had a list price of $12,600.00. The supplier offered a series discount of 30/20/10 and terms of 2/10, n/30 ROG and F.O.B. destination. The supplier pre-paid the freight of $350.00. The invoice was dated June 10 and the goods were received on June 30. If Gadgets remitted full payment on July 10, what was the amount they paid?
A. $6,566.39 B. $5,880.39 C. $6,223.39 D. $6,573.39
_____ uses a weighted average of past time series values as the forecast
a. The qualitative method b. Exponential smoothing c. Correlation analysis d. The causal model