Describe the TPM Master Six Sigma Certification Offered by Honeywell

question 61

Essay

Describe the TPM Master Six Sigma certification offered by Honeywell International to its employees.

Understand the assumptions and limitations of cost-volume-profit analysis.

Understand the basic principles and applications of cost-volume-profit (CVP) analysis.

Identify and calculate break-even points in units and dollars.

Calculate margin of safety and understand its significance.

---

Definitions:

Demand

The volume of goods or services that consumers can and want to buy across a range of prices within a certain period.

Price Elasticity

A metric indicating the responsiveness of the quantity of a good demanded to its price change, presented in percentage terms.

Demand

In economics, the desire and ability of consumers to purchase goods and services at given prices.

Revenue Maximizing Price

The price at which a company can sell its product or service to generate the maximum total revenue, considering factors like demand and price elasticity.