Answer the Following Questions Using the Information Below

question 53

Multiple Choice

Answer the following questions using the information below:
Potter Products has produced an electric coffee pot to complement its range of kitchen products.The new coffee pot can be sold at a target price of $46,and annual target sales volume for the coffee pot is 250 000.Potter has target operating profit of 20% of sales.
-What is the target cost for each coffee pot?

• A)$42.15
• B)$36.80
• C)$35.50
• D)$46.00

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Definitions:

Finite Population

A population set consisting of a limited number of distinct entities that can be fully enumerated.

Queue Discipline

The set of rules determining the order in which tasks are processed, particularly in the context of waiting lines or queues.

Waiting-Line Models

Mathematical models used to analyze the processes and queues in systems where there is demand for service and to predict waiting times and process efficiency.

Operations

Activities involved in the day-to-day running of a business for the purpose of producing value for the stakeholders.