What are the three key types of decision-making levels?
What will be an ideal response?
Business intelligence supports three different types of decision-making levels. These are primarily decisions made at the operational level, tactical level, and strategic level. Operational-level decisions involve routine transactions and direct interaction with customers. These decisions may involve unprogrammed decision making but generally consist of programmed decisions. On the other hand, tactical-level decisions draw upon business intelligence to make mid-level decisions, the kind that may guide individual business units. Decisions about marketing plans, product development, membership drives, departmental budgets, and other initiatives are generally tactical. A management information system (MIS) supports this kind of decision making, combining data, software, and reporting tools that managers need to carry out their responsibilities. Decisions made at the strategic level have widespread effects throughout the organization and beyond, to suppliers, customers, and even the whole industry. Each decision could commit huge amounts of capital and people to major initiatives.
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Richards Corporation uses the FIFO method of process costing. The following information is available for October in its Fabricating Department: Units:Beginning Inventory: 80,000 units, 60% complete as to materials and 20% complete as to conversion.Units started and completed: 250,000.Units completed and transferred out: 330,000.Ending Inventory: 30,000 units, 40% complete as to materials and 10% complete as to conversion. Costs:Costs in beginning Work in Process - Direct Materials: $37,200.Costs in beginning Work in Process - Conversion: $79,700.Costs incurred in October - Direct Materials: $646,800.Costs incurred in October - Conversion: $919,300. Calculate the cost per equivalent unit of materials.
A. $2.33 B. $2.20 C. $2.59 D. $1.89 E. $2.00
The following information is from the financial records of Newton Company for Year 2:
Required:Calculate the number of times interest is earned for Newton in Year 2. Round your answer to one decimal place.
What will be an ideal response?
If the actual exchange rate for the euro value of the British pound is less than the exchange rate that would satisfy absolute PPP, which of the currencies is overvalued and which is undervalued? Why?
What will be an ideal response?
The railroad's short run cost structure consists of a large proportion of indirect fixed costs resulting from the mode's investment in long-lived assets. Explain the fixed elements of the mode's cost structure