Use the Information for the Question(s)below

question 81

Multiple Choice

Use the information for the question(s) below.
As an oil refiner,you are able to produce $76 worth of unleaded gasoline from one barrel of Alaska North Slope (ANS) crude oil.Because of its lower sulfur content,you can produce $77 worth of unleaded gasoline from one barrel of West Texas Intermediate (WTI) crude.
-Assuming you just purchased 10,000 Bbls of WTI crude at the current market price,the total benefit (cost) to you if you were to refine this crude oil and sell the unleaded gasoline is closest to:

• A)$730,600
• B)$770,000
• C)$771,400
• D)$773,908
• E)$775,000

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Definitions:

Planning and Budgeting

The process of defining an organization's goals, establishing strategies to achieve those goals, and allocating resources accordingly.

Controlling

The management function that involves monitoring performance, comparing it with goals, and taking corrective action as needed.

Democratic Style

A leadership approach that involves team members in the decision-making process, valuing their input and fostering a collaborative working environment.

Autocratic Style

A leadership style characterized by individual control over all decisions and little input from group members.