Briefly discuss the four decisions that management must make concerning joint processes
The four decisions that managers must make regarding joint processes are as follows. They must try to determine what joint costs, selling costs, and separate processing costs are expected to occur when certain products are manufactured. Next, management must decide on the best use of resources that are available. Managers must next classify, as joint products and/or by-products/scrap, the output of production. The last decision that must be made is whether some or all of the products will be processed further or sold at split-off. This decision is made based on the incremental costs that would be incurred to process further and the incremental revenue if processed further. Joint production costs are irrelevant to this decision.
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What will be an ideal response?
Suppose that Germany levies a tariff on oranges, but none are grown in Germany. This tariff has
a. only a protective effect. b. only a revenue effect. c. both a protective effect and revenue effect. d. no effects on trade.
Which of the following statements about the use of color in retail stores is true?
A) Blue and green are warm colors. B) Bright colors make shoppers feel more relaxed. C) Reds and yellows convey an atmosphere of elegance and cleanliness. D) Orange is used to stimulate hunger. E) Light colors convey excitement.
When there are personality clashes between team members, effective team building would involve:
a. getting rid of one or both of the members. b. helping team discuss expectations to negotiate an agreement between conflicting members. c. referring members to therapy. d. breaking up the team.