The Following Question Are Based on the Following Table

question 67

Multiple Choice

The following question are based on the following table:

-A firm is able to purchase 1 unit of raw material for $2 and convert that unit into a finished product that sells for $25.Four production techniques are available,as shown in the table.If labor costs $1 per hour and machine time costs $3 per hour,the firm should

• A) use technique A.
• B) use technique B.
• C) use technique C.
• D) use technique D.
• E) not produce at all.

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Definitions:

Control Equation

Need for Action = Desired Performance - Actual Performance.

Control Process

A systematic approach to managing and monitoring activities to ensure they meet the goals and standards of the organization.

Market Control

The ability of a single entity or a few entities to significantly influence the conditions or terms in a particular market.

Input Standards

Pre-defined criteria or benchmarks used to measure the quality, quantity, or timeliness of inputs in a production or manufacturing process.