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Application of Skills (Scenario)

question 76

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Application of Skills (Scenario)
Harris, a budding stand-up comedian, spent months hanging out at Laugh Town, a local club, meeting other stand-ups, doing a lot of listening and finding out how they learned their trade. It got to the point where several of the star acts were trying out their new material on Harris. If Harris laughed, the material must be good, they said. Finally Harris got to the point where he wanted to try out his own act. Bobby G, a successful comic, agreed to listen to Harris. Bobby laughed a few times, but as he performed his material Harris couldn't help but wonder about the odd, pained expression on Bobby's face. When it was over, Bobby told him, "Very funny, Harris. Keep working on it." It was at that point that Harris decided he would become an agent for other comedians. Somehow, he knew that that was what he was truly suited for.
-The fact that Harris was able to switch from being an unsuccessful comedian to being a successful agent primarily shows that Harris has which competency?

Recognize different types of performance appraisal methods and their definitions.

Identify the focus areas in performance appraisals (results, behavior).

Comprehend the reasons behind separating discussions of pay from performance appraisals.

Understand the role of regulatory bodies in setting guidelines for performance appraisals.

Definitions:

Relevant Range

The range of activity within which the assumptions about fixed and variable costs are valid. Beyond this range, cost behaviors may change.

Per Unit Basis

A method of cost allocation or measurement that divides a total by the number of units to find the cost per unit.

Fixed Production Costs

Manufacturing costs that remain constant regardless of the level of production, such as rent and salaries of permanent staff.

Per Unit

A term that describes costs or revenues on a single unit basis.