Answer the Following Questions Using the Information Below

question 108

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.
-Companies that use manufacturing lead time as the base for allocating manufacturing costs to products consider that it has the following benefit(s) :

• A)Managers are motivated to reduce the time taken to manufacture products.
• B)Total overhead costs decrease.
• C)Operating income rises.
• D)All of these answers are correct.

Differentiate between the major protostome groups based on key characteristics.

Understand the adaptations associated with a parasitic lifestyle in protostomes.

Describe the significance of the molluscan body plan and its unique features.

Explain the role and function of segmentation and coeloms in certain protostome groups.

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Definitions:

Competitive Labor Markets

Labor markets characterized by numerous employers and employees where neither side can individually influence wages or employment conditions, leading to market-determined outcomes.

Marginal Cost

The additional cost incurred by producing one more unit of a good or service.

Additional Unit

Pertains to an extra quantity or unit added to existing quantities, often analyzed in economic contexts like production and consumption.

Purely Competitive Conditions

describe a market structure characterized by many buyers and sellers where no single participant has the power to influence market prices significantly.