Explain the difference between fixed and variable costs and provide examples of each.
What will be an ideal response?
Fixed costs are those costs that remain essentially at the same level, regardless of any changes in the volume of production. Typically, these costs include items such as rent, utilities, insurance, administrative salaries (for executives and higher-level managers), and the depreciation of the physical plant and equipment. Variable costs, on the other hand, are costs that vary with production volume. Variable costs are primarily labor and the materials needed to produce the product.
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Most direct marketers apply the RFM formula to select customers. Explain this formula and how it is used to select customers
What will be an ideal response?
The total fixed overhead variance is calculated by the following formula:
A) Total actual overhead - Total applied overhead B) AFOH - Standard overhead rate x SH C) AFOH - SFOR x SH D) AFOH - SFOR x AH E) Total actual overhead - SFOR x SH
Electronic meetings are preferred to face-to-face meetings when group efforts are just beginning and members are trying to build group values
Indicate whether the statement is true or false
Promoting high-calorie/low-nutrient foods with inadequate information about the risks is a(n) _____ practice.
A. legal but unethical B. illegal and unethical C. legal and ethical D. illegal but ethical