Inventory control has physical custody of inventory
Indicate whether the statement is true or false
F
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The optimal level of inventory is the level that minimizes the total inventory ordering costs as well as the inventory carrying costs and the costs of not having inventory on hand when needed
Indicate whether the statement is true or false
Flexible market offerings are composed of a few well-chosen naked solutions, each of which is wrapped with well-chosen options, where the supplier makes these choices prior to offering them to customers
Indicate whether the statement is true or false
The ____ refers to techniques managers might use that don’t require their direct intervention.
a. Direct approach b. Formal approach c. Indirect approach d. Informal approach
Grand Products is a price-setter that uses the cost-plus pricing approach for pricing its products
These products are unique, artistically designed architectural decorations. Grand produces and sells 6,200 units per year, which represent maximum capacity. Variable costs are $300 per unit. Total fixed costs are $910,000 per year. The CEO has a target of $60,000 in operating income, which he wants to achieve by year-end. Using the cost-plus pricing method, what sales price should Grand use? (Round your answer to the nearest cent.) A) $309.68 per unit B) $446.77 per unit C) $456.45 per unit D) $156.45 per unit