"Capital" is sometimes defined as funds supplied to a firm by investors.
Answer the following statement true (T) or false (F)
True
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An automotive company has three divisions. One division manufactures new replacements parts for automobiles, another rebuilds engines, and the third does repair and overhaul work on a line of trucks. All three divisions use the services of a central payroll department. The best method of allocating the cost of the payroll department to the various operating divisions is
a. total labor hours incurred in the divisions. b. value of production in the divisions. c. direct labor costs incurred in the divisions. d. machine hours used in the divisions.
Briefly explain residual variation in the product and service requirements of a market segment
What will be an ideal response?
Integer programming models have an objective function to be optimized, a set of constraints to be satisfied, and a set of constraints that forces some or all decision variables to be integers
a. True b. False
What is the JIT inventory management? What types of costs are minimized with JIT control? In order to use JIT, is it better to have high ordering costs or low?
Why? Do you think companies that use JIT inventory control tend to have high or low carrying costs? Why? What will be an ideal response?