At the Beginning of the Current Year,Peters Company Installed a JIT

question 11

Multiple Choice

At the beginning of the current year,Peters Company installed a JIT purchasing and manufacturing system.The following information has been gathered about one of the company's products: $$\begin{array} { l r } \text { Theoretical annal capacity } & 2,000 \\\text { Actual production } & 1,800 \\\text { Production hours available } & 500 \\\text { Actual conversion cost per hour } & \$ 7\end{array}$$
- What is the ideal conversion cost per unit?

• A)$0.9 per unit.
• B)$1.75 per unit.
• C)$25.50 per unit.
• D)$28 per unit.

Identify factors that influence group decision-making, including the presence of a strong, directive leader and self-censorship.

Understand the impact of diverse opinions and independent thinking on group effectiveness ("wisdom of crowds").

Recognize behavioral contagion in groups, exemplified by the "bad apple" effect.

Comprehend how group decisions can suffer from limited information and lack of optimal leadership.

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Definitions:

Product Modification

The process of altering or improving an existing product to meet customers' needs better or take advantage of new market opportunities.

Low-fat Alternative

A product or food item designed to have reduced fat content compared to the standard or original version, catering to health-conscious consumers.

Market Modification Strategy

Tactics aimed at changing existing market conditions to improve a company's sales potential, often through product tweaks or target market adjustments.

Market Modification Strategy

A plan of action aimed at changing various aspects of the market, such as product features, prices, or distribution channels, to improve competitive positioning and market share.