38,880 is the total amount to be budgeted in pounds for direct materials to be purchased for the month
Option 3 - 38,880.
Production estimation purchased for the month : 870 boxes.
Each box requires 44 pounds of clay mix and a quarter hour of direct labor.
The company has 3900 pounds of clay mix in the beginning inventory and wants to have 4500 pounds in the ending inventory.
The formula for the computation of the purchase is :
Purchase in units = Usage + Desired to end material inventory units - Beginning inventory units.
So, the total amount to be budgeted in pounds for direct materials to be purchased for the month :
(870) (44) + 4500 - 3900 = 38880
Direct material budget
When the level of production has been computed, a direct material budget should be constructed to show how much material will be required for production and how much material must be purchased to meet this production requirement. The purchase will depend on both the expected use of materials and inventory levels. The direct material budget is usually accompanied by a computation of expected cash payments for materials.
The purpose of the direct materials budget is to determine the number of raw materials to be purchased each period to fulfill the production needs and to provide for adequate inventories.
Disclaimer: The question was incomplete. Please find the full content below.
Question
What is the total amount to be budgeted in pounds for direct materials to be purchased for the month?
38,280
37,680
38,880
40,200
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If the fed wants to increase the money supply through an open market operation, it will:_____.
a. purchase government securities.
b. sell government securities.
c. first purchase, then sell, government securities.
d. lend more reserves to commercial banks.
Answer
Purchase government securities
Explanation:
When a central bank wants to increase money supply, a key tool in the open market operation is to sell purchase government securities. With this, they give out money to the economy increasing money supply.
In a bilateral monopoly, how are wages and level of employment determined compared to the competitive labor market case?
Bilateral monopolies determine wages and level of employment when compared to the competitive labor market, in an indeterminate manner.
What is an indeterminate wage level policy?This refers to the fact that the wages in a bilateral monopoly have no set way of being determined because the factors affecting employment can change based on the goods being produced.
Some goods will lead to wages and level of employment being quite competitive like the competitive labor market, while others will lead to low levels of competition which would lead to higher wages.
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In Year 8, Emil Gow won $5,000 in a state lottery. Also in Year 8, Emil spent $400 for the purchase of lottery tickets. Emil elected the standard deduction on his Year 8 income tax return. The amount of lottery winnings that should be included in Emil's Year 8 taxable income is
The amount of lottery winnings that should be included in Emil's Year 8 taxable income is: $5,000.
What is taxable income?Taxable income can be defined as the income that are reduce by tax or other deduction.
Since we were told that the amount of $5,000 was won in the state lottery, which means that the amount of lottery winnings that should be included in Year 8 taxable income is will be the total or the whole amount of the gambling winnings which is $5,000.
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Identify the practices that help entrepreneurs achieve success in crowdfunding.
Crowdfunding is the practice of using small donations from a large number of people to fund a business that would not otherwise be possible. By gaining the required cash flow boost, these ventures can get off the ground or start new campaigns.
The majority of these campaigns take place on online platforms, have time limits for raising funds, and disclose specific monetary goals. Crowdfunding occurs when a "crowd" rather than one or two major investors funds a project or the business.
Crowdfunding is divided into four categories: rewards, donations, debt, and equity. To run a successful crowdfunding for the campaigns.
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If the banking system has demand deposits of $100,000, total reserves equal to $15,000, and a required reserve ratio of 10 percent, the banking system can increase the volume of loans by a maximum of
The banking system can increase the volume of loans by a maximum of $50,000
What are total reserves?A bank's reserves are calculated by multiplying its total deposits by the reserve ratio. For example, if a bank's deposits total $500 million, and the required reserve is 10%, multiply 500 by 0.10. The bank's required minimum reserve is $50 million.Calculation of total reservesThe reserve ratio is the portion of reservable liabilities that commercial banks must hold onto, rather than lend out or invest. This is a requirement determined by the country's central bank, which in the United States is the Federal Reserve. It is also known as the cash reserve ratio.Total Reserves = Cash in vault + Deposits at Fed.
Required Reserves = RR x Liabilities.
Excess Reserves = Total Reserves - Required Reserves.
Change in Money Supply = initial Excess Reserves x Money Multiplier.
Money Multiplier = 1 / RR.
Therefore banking systems can increase the volume of loans by $50,000
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When a homeowner is delinquent on property taxes, the first step taken by the government in correcting the late payment is:
When a homeowner is delinquent on property taxes, the first step taken by the government is delinquent taxpayer names are published in the local paper
Property taxes are delinquent on April first of the year following non-payment. A list of delinquent payers is published in a local county wide-newspaper.
A taxpayer is an individual or entity (such as a company) that is subject to tax liability. Modern taxpayers may have an identification number, an identification number issued by the government to citizens and businesses.
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Adjustment for unearned revenue on august 1, 20y1, newhouse co. received $39,670 for the rent of land for 12 months. journalize the adjusting entry required for unearned rent on december 31, 20y1. round your final answer to the nearest dollar amount. if an amount box does not require an entry, leave it blank
Cash A/c (debit) 39670
To unearned rent A/c (credit) 39670
What is unearned revenue?
Unearned revenue is money that a person or company receives in exchange for a good or service that hasn't yet been provided or performed. It might be considered a "prepayment" for goods or services that a person or company anticipates offering the customer later.
How do you record unearned revenue?
Unearned income should be recorded in your diary as a debit from the cash account and a credit to the unearned income account. This journal entry demonstrates that the company has received payment in cash for a service, but it was obtained on credit as a down payment for upcoming deliveries of goods or delivered services.
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A job shop is an example of a(n): line process. intermittent process. specialized process. continuous process. repetitive process.
A job shop is an example of an intermittent process.
An intermittent process is one in which manufacturing facilities are periodically shut down and reset to produce slightly different products before resuming production. Intermittent processes are used in intermittent systems that make things only when the buyer needs or orders them.
Production is not the same every day. Products are typically manufactured on a microscale, and industrial processes are not continuous, making them intermittent processes. Products developed through this process come in a wide variety of types, designs, and dimensions. This is considered a flexible system.
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The ability to capture and analyze all customer interactions, generate appropriate responses, and gather data to create and build effective and efficient marketing campaigns is known as contact management. Group of answer choices True False
TRUE, The ability to capture and analyze all customer interactions, generate appropriate responses, and gather data to create and build effective and efficient marketing campaigns is known as contact management.
A contact manager is a software program that allows users to easily store and retrieve contact information such as names, addresses, and phone numbers. These are contact-centric databases that provide a fully integrated approach to tracking all contact-related information and communication activity.
Contact management is the process of storing and tracking data about customers and leads. In addition to providing quick access to customer data, investing in contact management can help grow and diversify your customer base.
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When the economy was expanding in early 2007, fewer than _______ percent of the unemployed had been jobless for more than 6 months.
When economy was expanding in early 2007, fewer than 20 percent of the unemployed had been jobless for more than 6 months. Because it shows whether or not employees can find gainful employment and contribute to the economy's productive output, unemployment is a crucial economic statistic.
More unemployed workers equate to lower overall economy output. People who quit the labor for reasons including retirement, higher education, and disability are not included in the definition of unemployed. When someone actively seeks job but is unable to do so, this is referred to as being unemployed. One important indicator of the state of economy is unemployment.
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Storage and handling expenses as well as property taxes and insurance are all examples of ________ costs.
Storage and handling expenses as well as property taxes and insurance are all examples of inventory carrying costs.
What are the inventory carrying costs?The entire cost of keeping unsold products in inventory includes all storage-related costs. The total covers warehousing expenses as well as intangibles like depreciation and lost opportunity cost. Typically, a company's carrying costs for inventory range from 20 to 30 percent of its total inventory expenditures.
Carrying cost, carrying cost of inventory, or holding cost are all terms used in marketing to describe the overall expense of retaining goods. This covers warehousing expenses like rent, utilities, and salaries as well as financial outlays like opportunity costs and expenses for perishable, shrinkable, and insured goods.
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Ncic operates under shared management between the _____ and the _____ in each state.
NCIC operates under a shared management concept between the FBI and federal, state, local, and tribal criminal justice users under provisions of the Federal Advisory Committee Act of 1972.
The NCIC is a computerized database of documented criminal justice information available to law enforcement agencies nationwide. NCIC also prompts disclosure of information in the system from other criminal justice agencies about crimes and criminals.
This information assists authorized agencies in criminal justice and related law enforcement objectives, such as apprehending fugitives, locating missing persons, locating and returning stolen property, as well as in the protection of the law enforcement officers encountering the individuals described in the system.
Data contained in NCIC is provided by the FBI, federal, state, local and foreign criminal justice agencies, and authorized courts. Users access the NCIC computer located at FBI headquarters through regional or State computer systems or with direct tie-ins to the NCIC computer. The data is stored in 12 files: article, boat, Canadian warrant, gun, interstate identification index, license plate, missing person, securities, U.S. Secret Service Protective, unidentified person, vehicle, and wanted person.
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Which printmaking method operates with the understanding that oil and water do not mix?
A printing method that takes advantage of the fact that water and grease don't mix. The image is transferred using a greasy media, such as a particular greasy ink called tusche, crayon, pencils, lacquer, or synthetic materials, to a grainy surface (traditionally stone but more typically aluminium).
The inked image is transferred (or "offset") from a plate to a rubber blanket and then to the printing surface in offset printing, a typical printing technique. The offset method makes use of a flat image carrier when combined with the lithographic process, which is based on the attraction of oil and water.
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In _____, a defined target population is ordered in some way, usually in the form of a taxpayer roll, customer list, or membership roster, and selected systematically. Multiple choice question.
In systematic random sampling, a defined target population is ordered in some way, usually in the form of a taxpayer roll, customer list, or membership roster, and selected systematically.
What is Sampling?The sample is the group of individuals who will actually participate in the research.
There are two types of sampling methods:
Probability sampling
Involves random selection, allowing you to make strong statistical inferences about the whole group.
Non-probability sampling
Involves non-random selection based on convenience or other criteria, allowing you to easily collect data.
How many types of Probability Sample ?There are four main types of probability sample:
Simple random samplingSystematic samplingStratified samplingCluster samplingWhat is Simple random sampling?In simple random sampling (SRS), each sampling unit of a population has an equal chance of being included in the sample. Consequently, each possible sample also has an equal chance of being selected. To select a simple random sample, you need to list all of the units in the survey population.
Therefore, we can conclude that the correct option is A.
Your question is incomplete, but most probably your full question was:
In _____, a defined target population is ordered in some way, usually in the form of a taxpayer roll, customer list, or membership roster, and selected systematically. Multiple choice question.
A. Simple random sampling
B. Systematic sampling
C. Stratified sampling
D. Cluster sampling
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What is the primary hazard or significant drawback ofa permanent team
Drawback of a permanent team: Decreased innovation/ Lack of latest ideas-
while an worker focuses n the wellbeing in their crew and neglect to carry out their personal innovative thoughts to the desk.
Permanent teams- these groups carry out on a everlasting basis and aren't dissolved as soon as the challenge is done.teams may be divided into 4 important businesses: mission groups, self-controlled groups, digital groups, and operational groups. What type of team you have got relies upon on its purpose, region, and organizational structure.
Dangers encompass challenges with digital groups can lie in communication, terrible leadership/control and incompetent crew individuals.Confidentiality is hard to achieve as personal knowledge is shared with the organization. companies do now not fully aid institution paintings as they are no longer clear approximately its usefulness. group paintings often degenerates into games and a laugh neglecting the remedy procedure.
Four unique forms of groups:
1: purposeful teams. functional teams are permanent and consist of individuals of the equal branch with special obligations.
2: cross-functional groups. go-purposeful teams are made of people from numerous departments.
3: Self-controlled teams.
4: virtual groups.
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A zero coupon bond: Group of answer choices is sold at a large premium. has a market price that is computed using semiannual compounding of interest. can only be issued by the U.S. Treasury. has less interest rate risk than a comparable coupon bond. has a price equal to the future value of the face amount given a positive rate of return.
zero coupon bond equal to the future value of the face amount given a positive rate of return.
Bond with No Coupon Zero coupon bonds do not pay interest during the term of the bond. Rather, investors purchase zero coupon bonds at a significant discount to their face value, which is the amount the investor would get when the bond "matures" or comes due.
What is Zero coupon bonds?A zero-coupon bond, also known as an accrual bond, is a debt security that does not pay interest but instead trades at a steep discount, yielding a profit when redeemed for its full-face value at maturity.
A zero-coupon bond is a type of debt asset that does not pay interest.Zero-coupon bonds trade at steep discounts and pay full face value (par) at maturity.The difference between the purchase price and the par value of a zero-coupon bond represents the investor's return.What is the difference between regular bonds and zero-coupon bonds?Regular bonds, commonly known as coupon bonds, pay interest over the life of the bond and reimburse the principle when it matures. A zero-coupon bond, also known as an accrual bond, is a debt security that does not pay interest but instead trades at a steep discount, yielding a profit when redeemed for its full-face value at maturity.
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6. Corinne has just gotten her first job and wants to apply for her first credit card. Based on what you have learned in this unit, what advice can you give Corinne? Your response should include the following information:
-What Corinne should do before applying for the credit card
-Which elements of the credit card agreement Corinne should focus on once her application is accepted
-What Corinne should do in order to best manage her credit
-The potential downsides of having a credit card
The things that Corinne should do before applying for the credit card include:
See what the fee includes.Make sure the rewards align with your spending habits. Time the sign-up bonus appropriately.What are credit cards?Credit cards gives one a line of credit that can be used to make purchases, balance transfers and cash advances and requiring that you pay back the loan amount in the future.
The things that she should focus on include:
Practice responsible spending.
Choose a credit card payment plan.
There should be an emergency fund.
The thing that Corinne should do in order to best manage her credit include building a budget and paying the credit card bills at the appropriate time.
The potential downsides of having a credit card are:
Paying high rates of interest.
Credit damage.
Credit card fraud.
Cash advance fees and rates.
Annual fees.
Credit card surcharges.
Other fees can quickly add up.
Overspending.
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A comparable property showed adjusted value of $40,000. The property sold two years ago, and the adjustments indicated a 7% annual appreciation rate. Assuming the appreciation was the only adjustment, how much was the total adjustment
a. plus $5,063 was the total adjustment.
The definition of adjustment is the act of creating an alternate or is the exchange that is turned into made. An instance of an adjustment is the time that it takes for someone to end up comfy living with someone else. The settlement of ways tons is to be paid in cases of loss or declaration, as with the aid of insurance. a way of fixing.
A pay adjustment is a change in a worker's pay fee. you could exchange an employee's hourly salary or profits. Normally, reimbursement adjustment is a boom within the pay charge, which includes when an employee earns a raise.
Aadjustments to income encompass such items as Educator charges, scholar mortgage hobby, Alimony bills, or contributions to a retirement account. Your AGI will by no means be more than your Gross general earnings on you come back and in a few cases may be decreased.
Your question is incomplete. Please find the complete question below.
A comparable property showed an adjusted value of $40,000. The property sold two years ago, and the adjustments indicated a 7% annual appreciation rate. Assuming the
appreciation was the only adjustment, how much was the total adjustment?
a. plus $5,063
b. plus $5,404
c. minus $5,063
d. plus $5,600
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A project budget report is showing our project as spending $35,000 against a budgeted amount of $40,000. Which of the following is true
From the above information, it is true that the company is running a budget deficit.
What is budgeting?Budgeting is the process of planning for an allocating resources efficiently and effectively.
A budget deficit is when the expended amount is above the budgeted figure.
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Create a project justification for Global Treps Running Case. Prepare a business case for the Global Treps project. Assume that the project will take six months to complete, use many volunteer hours, and cost about $130,000 for hardware, software, travel, and labor. Use the business case template provided on the Companion website for this text. Be sure to research information on the television show and events held by colleges and other groups, which have been sparked by the need for more successful entrepreneurs. Also visit DonorsChoose.org to see how that site operates and look into steps for forming a non profit organization.
It should be noted that a business case gives justification for undertaking a project or portfolio.
What is a business case?It should be noted that business case evaluates the benefit, the cost and risk of alternative options and gives a rationale for the preferred solution.
When writing a business case, it's important to always define the scope and include an executive summary, detailed information about finances, as well as.an overview of the project's structure.
Every member of the project team should contribute to the business case and the business case should be concise and only include relevant information
In conclusion, the business case provides decision makers, stakeholders and public for evidence based and transparent decision making.
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Complete question:
You and your team are continuing your work on the Global Treps Project. Your project sponsor, Dr. K. has asked you to refine the existing cost estimate for the project so you can evaluate supplier bids and have a solid cost baseline for evaluating project performance. Recall that your schedule and cost goals are to complete the project in six months for under $120,000. You planned to use up to $50,000 total to pay yourself and your team members, and your initial estimates were $30,000 for travel expenses, $20,000 for hardware and software, and $20,000 for organizing four events, including consultants, legal/business fees, etc.
Under a system of floating exchange rates, changes in the value of the U.S. dollar relative to other currencies are the result of
Under a system of freely floating exchange rates, an increase in the international value of a nation's currency will cause its imports to rise.
What are floating exchange rates?A floating exchange rate (also known as a fluctuating or flexible exchange rate) is a type of exchange rate regime in which the value of a currency is permitted to fluctuate in reaction to foreign exchange market occurrences. A floating currency is one that uses a floating exchange rate, as opposed to a fixed currency, the value of which is determined in terms of material items, another currency, or a group of currencies (the idea of the last being to reduce currency fluctuations).When the international value of a country's currency rises, so do its imports, and vice versa.As it is given in the description itself, when the international value of a country's currency rises, so do its imports, and vice versa.
Therefore, Under a system of freely floating exchange rates, an increase in the international value of a nation's currency will cause its imports to rise.
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The question you are looking for is here:
Under a system of freely floating exchange rates, an increase in the international value of a nation's currency will ____.
The three steps in the financial planning process are to forecast the firm's short- and long-term needs, develop budgets, and ______.
Answer: establish financial controls
Explanation:
The three steps in the financial planning process are to forecast the firm's short- and long-term needs, develop budgets, and establish financial controls.
What is Financial Planning?A financial plan is a detailed review of an individual's present pay and future financial situation that predicts future income, asset values, and outflow plans using current known factors.
The job of calculating how a corporation will afford to fulfill its strategic goals and objectives is known as financial planning. Typically, a corporation develops a Financial Plan shortly after establishing its vision and objectives.
The financial planning process involves assessing your net worth and risk profile, establishing short to long-term financial objectives, and adjusting those goals as needed. It also includes techniques for retiring without worrying about finances and protecting your family's future.
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The debit to work-in process for materials used in production is recorded at ______.
The debit to work in process for materials used for production is recorded in the cost of direct materials.
A work in process is the partially unfinished goods waiting for their completion which usually includes overheads , labour work and raw materials used in the procedure.
The cost are then transfer to finish good account with the sales of production held in the inventory for the anticipation of the future sales.
For direct materials, debit side of the process inventory account and for the raw materials credit side of the management is used. Assume and assign the raw material, production equipments , expenditures which will be the work in process.
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The marginal benefit curve is:
Answer:
the demand curve is the marginal benefit curve.
Explanation:
The maximum amount of other goods and services. they are willing to sacrifice for one more unit of the good.] Therefore, the demand curve is the marginal benefit curve. Consumer Surplus. When an individual pays less than his or her marginal benefit.
The concept that under the right circumstances, groups are smarter than the smartest individuals in them is referred to as ________.
The concept that under the right circumstances, a group is smarter than the smarter individuals in them is referred to as the wisdom of crowds.
Wisdom of crowds is a principle that assumes that the knowledge of crowd outcomes in higher decision-making, innovation, and problem-fixing than that of a person. A crowd needs to be large, and diverse, and people within the crowd cannot be prompted by others for the principle to work.
The mathematical concept plays an important role in the Wisdom of crowds, The crowd's squared error equals the average person squared errors minus the variety of the predictions. this can be referred to as the diversity prediction theorem. This occurs now not the handiest in this example; it is actually in each example. it's far a mathematical identity, like the Pythagorean theorem.
There is diversity inside the group and their wondering is unbiased of what others have to say. The idiosyncratic errors canceling each other out is not a gain of 'understanding of crowds'. because the opinion of a huge group of people could be very numerous of their thinking and it is their unbiased opinion.
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_____ is a term used by evolutionary psychologists to denote the amount of time and effort men or women must devote to parenthood.
Parental Investment is a term used by evolutionary psychologists to denote the amount of time and effort men or women must devote to parenthood.
Parental investment in offspring (as first described by Robert Trivers) sacrifices a parent's ability to invest in other offspring (current or future siblings), at the expense of that offspring's chances of survival and reproduction. It is an investment by parents that enhances
For birds, for example, during the egg stage, a parent's investment includes incubating the eggs and protecting the nest from potential predators. This stage is called hatching) and the continuation of the nest
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As a percentage of u.s. gdp, today exports are _________ and imports are _______ than they were in 1950.
a. lower, lower
b. higher, higher
c. lower, higher
d. higher, lower
As a percentage of U.S GDP, today exports are higher and imports are lower than they were in 1950.
Option D. higher, lower.
In 2020, exports of goods and services from the United States accounted for approximately 10.13% of gross domestic product (GDP). This is up from his 9.25% of US GDP in 1990.
When a country exports goods, it sells them to foreign markets: consumers, businesses, or governments in other countries. These exports bring money to the country and increase the GDP of the exporting country.
US exports of goods and services (based on national income) account for approximately 14% of the US GDP. In recent years, the United States has: We export more services abroad than we import.
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The currency drain ratio for m1 is ______ than for m2, and the banks' reserve ratio for m1 is ______ than for m2.
'The currency drain ratio for m1 is lesser than for m2, and the banks' reserve ratio for m1 is greater than for m2. Read below about currency drain ratio.
What is currency drain ratio?Currency drain ratio is the percentage of banknotes that households keep in form of cash rather than depositing in a bank. It is the amount of cash a person holds and the amount of money she maintains in readily accessible bank accounts, such as checking accounts.
Therefore, the correct answer is as given above.
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Britney is selling her bungalow via an installment contract. The buyer made payments dutifully for five years, but has not made any payments for more than a year. Which of the following is true
"Britney is selling her bungalow via an installment contract. The buyer made payments dutifully for five years, but has not made any payments for more than a year." This is further explained below.
What is an installment contract.?Generally, A contract known as an installment purchase agreement is one that facilitates the financing of the purchase of assets.
In conclusion, Britney has the right to retain the whole of the money that was received and to reclaim the property.
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marquis suites shows movies in a living room atmosphere with comfortable chair and food and beverage service it deliverately chares more than otehr theaters for ths ecpierence
The different pricing strategies are matched with the best scenarios below.
What are pricing strategies?When selling a product or service, a company can employ a number of pricing tactics. Senior executives must first assess the company's price position, pricing segment, pricing capacity, and competition pricing reaction strategy before determining the most successful pricing strategy for the company.The scenario to the strategy it best illustrates is shown below:
1. When the Mays family went to Europe, they used a travel agent who worked out a trip that included airfare, hotels, and some tours all for one price.
Most Suitable Pricing Strategy: Bundling
2. Marquis Suites shows movies in a "living room" atmosphere with comfortable chairs and food and beverage service. It deliberately charges more than other theaters for this experience.
Most Suitable Pricing Strategy: Competition-based pricing
3. Chad is a do-it-yourself guy. He shops at Home Depot because, although they don’t usually run sales, he knows the store will offer the lowest price around on the tools he needs.
Most Suitable Pricing Strategy: Everyday low pricing (EDLP)
4. A major national retailer charges "full retail" for most of the lines it carries but runs "special sales" during which the company lowers its price.
Most Suitable Pricing Strategy: High-low pricing
5. When Walmart enters a new geographic area, the company undersells its more well-established competitors and eventually raises its prices once it has a loyal customer base.
Most Suitable Pricing Strategy: Penetration pricing
6. When Aaron was looking for mortgage lenders, he noticed that one major lender lowered their rates, and several others did the same within a few days.
Most Suitable Pricing Strategy: Price leadership
7. Larry Dietzel, a real estate agent, advised his clients to price their home at $199,900 when they listed with his agency.
Most Suitable Pricing Strategy: Psychological pricing
8. Overture Audio home theater systems can run as high as $100,000 but there are only a few companies offering the systems.
Most Suitable Pricing Strategy: Skimming price
9. Toyota’s approach to entering the U.S. market was to set a certain net profit margin, then determine what price the company had to offer to get Americans to buy its cars instead of domestic cars.
Most Suitable Pricing Strategy: Target costing
Therefore, the different pricing strategies are matched with the best scenarios.
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Complete question:
Decisions about pricing strategies should be set in conjunction with other marketing decisions about product design, packaging, branding, distribution, and promotion. All these marketing decisions are interrelated. Prices must be related to the cost of producing the product and prices are usually set somewhere above cost. But price and cost aren't always related. There are three major approaches to pricing strategy: cost-based, demand-based (target costing), and competition-based. Other pricing strategies include skimming price strategy, penetration strategy, everyday low pricing (EDLP), high-low pricing strategy, bundling, psychological pricing, and demand-oriented pricing. Match each scenario to the strategy it best illustrates.
1. When the Mays family went to Europe, they used a travel agent who worked out a trip that included airfare, hotels, and some tours all for one price.
2. Marquis Suites shows movies in a "living room" atmosphere with comfortable chairs and food and beverage service. It deliberately charges more than other theaters for this experience.
3. Chad is a do-it-yourself guy. He shops at Home Depot because, although they don’t usually run sales, he knows the store will offer the lowest price around on the tools he needs.
4. A major national retailer charges "full retail" for most of the lines it carries but runs "special sales" during which the company lowers its price.
5. When Walmart enters a new geographic area, the company undersells its more well-established competitors and eventually raises its prices once it has a loyal customer base.
6. When Aaron was looking for mortgage lenders, he noticed that one major lender lowered their rates, and several others did the same within a few days.
7. Larry Dietzel, a real estate agent, advised his clients to price their home at $199,900 when they listed with his agency.
8. Overture Audio home theater systems can run as high as $100,000 but there are only a few companies offering the systems.
9. Toyota’s approach to entering the U.S. market was to set a certain net profit margin, then determine what price the company had to offer to get Americans to buy its cars instead of domestic cars.
A. Psychological pricing
B. Bundling
C. Target costing
D. Penetration pricing
E. High-low pricing
F. Competition-based pricing
G. Price leadership
H. Skimming price
I. Everyday low pricing (EDLP)