Answer the Following Questions Using the Information Below

question 130

Multiple Choice

Answer the following questions using the information below:
After conducting a market research study, Harry Products decided to produce an electric coffee pot to complement its line of kitchen products. It is estimated that the new coffee pot can be sold at a target price of $23. The annual target sales volume for the coffee pot is 300,000. Potter has target operating income of 18% of sales.
-What is the target cost for each coffee pot?

• A)$17.75
• B)$18.86
• C)$21.08
• D)$23.00

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Definitions:

Integrity Leadership

A leadership approach based on honesty and consistency of values, actions, and ethical principles.

Situational Leadership Model

A theory that proposes leaders should adjust their style of leadership based on the maturity and capability of the individuals or groups they are leading.

Leadership Style

The approach or method a leader uses to inspire, influence, and guide the behavior and work of others towards achieving specific goals.

Fiedler's Contingency Model

A leadership theory proposing that effective leadership style depends on the situational context and the leader’s orientation.