Answer the Following Questions Using the Information Below

question 9

Multiple Choice

Answer the following questions using the information below:
Tri-State Manufacturing expects to spend $800,000 in 2012 in appraisal costs if it does not change its incoming materials inspection method. If it decides to implement a new receiving method, it will save $80,000 in fixed appraisal costs and variable costs of $0.40 per unit of finished product. The new method involves $120,000 in training costs and an additional $160,000 in annual equipment rental. It takes two units of material for each finished product.
Internal failure costs average $160 per failed unit of finished goods. During 2011, 5% of all completed items had to be reworked. External failure costs average $400 per failed unit. The company's average external failures are 1% of units sold. The company carries no ending inventories, because all jobs are on a per order basis and a just-in-time inventory ordering method is used.
-The amount of time from when a customer places an order for a product or requests a service to when the product or service is delivered to the customer is referred to as:

• A)manufacturing lead time
• B)bottleneck
• C)customer-response time
• D)a time driver

Understand the relationship between stress and various health outcomes.

Familiarize with positive psychology and its approach to stress and coping.

Understand how the Federal Reserve system and its components operate within the US economic framework.

Comprehend the principles of fractional-reserve banking and its implications for the money supply.

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Definitions:

Conventional Morality

A stage in moral development characterized by adherence to rules and standards of one's group or society.

Cultural Differences

Variations in the norms, values, beliefs, and practices among different groups, societies, or communities.

Lawrence Kohlberg

An esteemed psychologist from the US, widely acclaimed for his foundational theory on the different stages of moral growth.

Western Values

A term often used to describe the set of cultural, ethical, and philosophical principles that are commonly held or valued in Western societies, including democracy, individual rights, and freedom of expression.