Bill Pope Has Developed a New Device That Is So

question 66

Essay

Bill Pope has developed a new device that is so exciting he is considering quitting his job in order to produce and market it on a large-scale basis.Bill will rent a garage for $300 per month for production purposes.Utilities will cost $40 per month.Bill has already taken an industrial design course at the local community college to help prepare for this venture.The course cost $300.Bill will rent production equipment at a monthly cost of $800.He estimates the material cost per unit will be $5,and the labour cost will be $3.He will hire workers and spend his time promoting the product.To do this he will quit his job,which pays $3,000 per month.Advertising and promotion will cost $900 per month.
Required:
Complete the chart below by placing an "X" under each heading that helps to identify the cost involved.There can be "Xs" placed under more than one heading for a single cost,e.g. ,a cost might be a sunk cost,an overhead cost and a product cost;there would be an "X" placed under each of these headings opposite the cost.

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Definitions:

Behavior-Restricting

pertains to any measures or practices that limit or control an individual's actions or behaviors, often for the purpose of maintaining order or safety.

Job Performance

The evaluation of the effectiveness, quality, and efficiency of an individual's work in their professional role.

Blood Pressure

The force of circulating blood on the walls of blood vessels, typically measured to assess health conditions.

Reduced Cholesterol

A decrease in the levels of cholesterol in the bloodstream, which can lower the risk of heart disease.