When Panera Bread Opened Panera Cares Cafes,they Implemented a Pricing

question 207

Multiple Choice

When Panera Bread opened Panera Cares Cafes,they implemented a pricing model that allowed consumers to pay what they wished for their items.The goal of this cafe was to still be:

• A)self-sustaining
• B)profit maximizing
• C)profit minimizing
• D)a charity service

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Definitions:

Standard Cost System

An accounting system that uses standard costs for product costs, facilitating budgeting and performance evaluation.

Direct Labour Hours

The total time workers spend producing a product or service, which directly correlates to the production.

Labour Efficiency Variance

A metric that assesses the difference between the expected amount of labor time to produce a given level of output and the actual labor time used.

Labour Rate Variance

The difference between the actual wage rate paid to workers and the expected (or standard) wage rate, multiplied by the actual hours worked.