Jillian Inc. produces leather handbags. The production budget for the next four months is: July 5,000 units, August 7,000, September 7,500, October 8,000. Each handbag requires 1.3 hours of unskilled labor (paid $8 per hour) and 2.2 hours of skilled labor (paid $15 per hour). How much will be paid to skilled labor during the three months July through September?
A. $643,500
B. $292,500
C. $4,387,500
D. $742,500
Answer: A
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Charley Jones has an idea that he believes will improve his organization. He proposes this idea to his boss. His boss is receptive but does not act on or promote Charley’s idea. Charley decides to back off and perhaps bring his idea to his boss again in several months.
a. Charley is managing up. b. Charley is displaying a lack of courage. c. Charley might be afraid of his boss. d. Charley is most likely an ineffective follower.
The 80/20 principle can be used to explain why salespeople use:
A. trial closes a minimum of three times per sales call. B. three different types of routing patterns. C. mobile offices and technology. D. the ELMS system to segment accounts in their sales territories. E. waiting time for non-selling activities.
_____________ is the influence a leader gains over others when they desire to identify and be associated with him or her.
a. Referent power b. Legitimate power c. Expert power d. Reward power
Investment A has an expected return of 15% per year, while Investment B has an expected return of
12% per year. A rational investor will choose A) Investment A if A and B are of equal risk. B) Investment A because of the higher expected return. C) Investment B because a lower return means lower risk. D) Investment A only if the standard deviation of returns for A is higher than the standard deviation of returns for B.