A(n) ________ is a product that performs a similar function, or it achieves the same result.
Fill in the blank(s) with the appropriate word(s).
substitute
A substitute is a product that performs a similar function, or it achieves the same result.
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Bohmker Corporation is introducing a new product whose direct materials cost is $25 per unit, direct labor cost is $13 per unit, variable manufacturing overhead is $9 per unit, and variable selling and administrative expense is $4 per unit. The annual fixed manufacturing overhead associated with the product is $18,000 and its annual fixed selling and administrative expense is $9,000. Management plans to produce and sell 1,000 units of the new product annually. The new product would require an investment of $110,500 and has a required return on investment of 10%. Management would like to set the selling price on a new product using the absorption costing approach to cost-plus pricing.Required:a. Determine the unit product cost for the new product.b. Determine the markup percentage on
absorption cost for the new product.c. Determine the selling price for the new product using the absorption costing approach. What will be an ideal response?
In adaptive forecasting, the estimates of level, trend, and seasonality are updated after each demand observation
Indicate whether the statement is true or false.
Higher costs in one functional area of a logistics system may be necessary to achieve
A. better cycle time. B. lower costs in another. C. flexibility in another. D. consistency. E. lower prices.
Anna Levandowski took out a $4,000 simple interest loan at 8% interest for 24 months to buy a wave runner. Her monthly payment is $180.91. After making payments for 9 months, her balance is $2,574.21. She decides to pay the loan off with her next payment. How much will her final payment be? How much interest will she save?