Value may be increased by simultaneously increasing cost and decreasing functionality
Indicate whether the statement is true or false.
Answer: FALSE
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Molly runs the best dog grooming shop in town. All the dogs love her, as do the owners. She is particularly popular because of a special type of dog biscuit she gives for treats that provides such energy that owners have been known to try them too. Slowly but surely all the other dog grooming shops start to go out of business. Molly claims surprise when one day she is charged with unlawfully
monopolizing the dog grooming business. Which of the following would be her best defense? a. That she primarily provided biscuits, not grooming. b. That she did not intentionally obtain monopoly power or retain it through anticompetitive acts. c. That she did not intentionally obtain monopoly power, and that it was legally acceptable for her to willfully attempt to keep it. d. That services, not goods, were involved.
Explain how operations managers responded to the need for quality after World War II.
What will be an ideal response?
The North American Industry Classification System (NAICS) permits a firm to
A. conduct an industry-wide SWOT analysis to determine internal strengths and weaknesses and external opportunities and threats of current and prospective competitors. B. engage in benchmarking with companies manufacturing and/or marketing similar products. C. find the NAICS codes of its present customers and then obtain NAICS-coded lists for similar firms. D. learn the names of the purchasing agents of all prospective customers. E. sell to any company within North America as long as it is not a monopoly.
Milot Corporation is an oil well service company that measures its output by the number of wells serviced. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results of operations for April. Fixed Element per MonthVariable Element per Well ServicedActual Total for AprilRevenue $3,800$112,900Employee salaries and wages$41,400 $900$69,500Servicing materials $500$15,100Other expenses$29,600 $30,200?When the company prepared its planning budget at the beginning of April, it assumed that 32 wells would have been serviced. However, 29 wells were actually serviced during April.?The activity variance for total expenses for April would have been closest to:
A. $4,200 U B. $1,000 U C. $1,000 F D. $4,200 F