The higher labour costs under skilled-based pay indicate that it may be a better fit to companies where _____________. labour costs are a small share of total costs labour costs are a large share of total costs employees lack motivation to increase their skills employees focus on seeking promotions to earn more pay the focus is on average performance rather than optimum performance

The higher labour costs under skilled-based pay indicate that it may be a better fit to companies where _____________. labour costs are a small share of total costs labour costs are a large share of total costs employees lack motivation to increase their skills employees focus on seeking promotions to earn more pay the focus is on average performance rather than optimum performance

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter4: Extent (how Much) Decisions

Section: Chapter Questions

Problem 4.2IP

See similar textbooks

Similar questions

Refer to (Total Time = 20 minutes (VA time) + 10 minutes (NVA time) = 30 minutes; Total Cost = $11.67 (VA cost) + $5.417 (NVA cost) = $17.087) the restaurant value stream map, and recompute the total value-added and non-value-added time and cost given the following new information. The chef's time is valued at $30 per hour, oven operation at $10 per hour, precooking order waiting time at $5 per hour, and postcooking order waiting time at $60 per hour. The $60 estimate reflects the cost of poor quality for a dinner waiting too long that might be delivered to the customer late (and cold). If a restaurant uses iPads to place orders and notify waiters when the customer's order is ready, the time on the order board (now an electronic order board) decreases from five to four minutes, and the prepared order wait time decreases from five to two minutes. Round your answer for the total revised time to the nearest whole number and round your answer for the total revised cost to three decimal…
1-18 Katherine D’Ann is planning to finance her college education by selling programs at the football games for State University. There is a fixed cost of $400 for printing these programs, and the variable cost is $3. There is also a $1,000 fee that is paid to the university for the right to sell these programs. If Katherine was able to sell programs for $5 each, how many would she have to sell in order to break even?
LCM stand for lowest counled materials ? true or false
Round off your final answer to whole #. A company produces and sells a consumer product and is able to control the demand by varying the selling price. The approximate relationship between price and demand is p=45 + 2700/D - 5000/D2 for D > 1 The company is seeking to maximize its profit. The fixed cost is $1,000 and the variable cost is $38 per unit. What is the number of units that should be produced and sold each month to maximize profit?
WRITE A COMPREHENSIVE NOTE ON HOW AUTOMOBILE INDUSTRY IN PAKISTAN HAS CHANGED AFTER FIRST AUTO POLICY IN 2016.RELATE YOUR ANSWER TO LECTURE 5 (ENGINEERING ECONOMICS -II).ALSO DISCUSS THE IMPACT OF RECENTLY INDRODUCED ELECTRIC VEHICLE POLICY ON AUTOMOBILE INDUSTRY
1. Direct laborrate: $15.00perhour Production material: $375 per 100 items Factory overhead: 125% of direct labor Packing costs: 75%ofdirectlabor Desiredproﬁt: 20%oftotalmanufacturing cost use the above information to answer how many units must be sold to achieve a proﬁt of $25,000? [Note that the units sold must account for total production costs (direct and overhead) plus desired proﬁt. 2. A small textile plant was constructed in 2004. The major equipment, costs, and factors are shown below. Estimate the cost to build a new plant in 2014 if the index for this type of equipment has increased at an average rate of 12% per year for the past 10 years. Show work and Select the closest answer. a) $4,618,000 b) $10,623,000 c) $14,342,000 d) $ 14,891,000
Upon graduating with an accounting degree, you open your own accounting firm of which you and your assistant are the only employees. To start the firm you passed on a job offer with a large accounting firm that offered you a salary of $50,000 annually. Last year you earned a total revenue of $120,000. Rent and supplies last year were $50,000. Your assistant's salary is $30,000 annually. annual operating profit? A) -$10,000. B) $40,000. C) $70,000. D) $80,000.
Thelma has a long term lease on her cotton farm with an annual lease payment of $10,000. Prior to planting in the spring of 2020, she predicts that she will have $5000 left after paying all of her costs except for the annual lease payment. In this case, what should Thelma do?Select one:a. continue to operate because total revenue exceeds total costb. shut down and experience an accounting loss of $5000c. continue to operate even though she predicts an accounting loss of $5000d. exit the market and experience an accounting loss of $10,000
Q5) A firm is planning to manufacture a new product. The sales department estimates that the quantity that can be sold depends on the selling price. As the selling price is increased, the quantity that can be sold decreases. Numerically they estimate: P = $35.00 - 0.02Q where P =selling price per unit Q = quantity sold per year On the other hand, the management estimates that the average cost of manufacturing and selling the product will decrease as the quantity sold increases. They estimate C = $4.00Q + $8000 where C = cost to produce and sell Q per year The firm's management wishes to produce and sell the product at the rate that will maximize profit, that is, where income minus cost will be a maximum. What quantity should the decision makers plan to produce and sell each year?
Kindly help me fill out the table. Thank you! Maroons Medical Supplies, Inc. must order masks from its supplier in lots of 1 dozen boxes. Given the information provided below, complete the following table: Annual demand 26,000 dozen Cost per order placed P30 Carrying cost 20% Price per dozen P7.80 Order Size (Dozen) 250 500 1,000 2,000 13,000 26,000 Number of orders ? ? ? ? ? ? Average inventory ? ? ? ? ? ? Carrying cost ? ? ? ? ? ? Order cost ? ? ? ? ? ? Total cost ? ? ? ? ? ?
FG Manufacturers wants to determine the effectiveness of their pricing decisions for their product Lylo. As a consultant, you have been asked to develop cost functions that will assist in arriving at the optimal price that will enable the company to maximize profits. During the year, you were provided with the following demand and costs functions for the product: P = 400 – 6Q; where P is the unit selling price and Q is quantity in thousands of units. TC = 8Q2 + 36Q + 150; where TC is total cost in thousands of dollars. Determine the optimal sales revenue. Calculate the maximum profit. Briefly outline two (2) factors to be considered by managementswhen pricing decisions are being made.
*need correct answer for this practice question plz