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Karolina [17]
2 years ago
10

'Nagia Steel Pvt. Ltd.' has divided the whole of its business into five departments. Now the

Business
1 answer:
iVinArrow [24]2 years ago
3 0

Answer:

Generally speaking, there are five functions of Management. They are:

  • Setting Objectives
  • Planning
  • Execution
  • Measurement
  • Control

The two functions of management identifiable from the passage are:

  1. The setting of Objectives and
  2. Control

Explanation:

Objectives in business are multilateral in nature. They speak to

  • Identifying where the company wants to go
  • How the company is going to get there
  • Who the company will need to get there and
  • What the company will need to get there

In the passage above, the company via it's general manager is defining clearly those the company will need and what each person's role is in helping to achieve such objectives

It is not the responsibility of the employee to define his or her own job or objectives. It is the responsibility of Management.

With regard to the second function which we will identify as Control, when management admits employees, there has to be structure otherwise there would be chaos.

It is the function of management to clearly define reporting lines. Who reports to whom? Who is responsible for overseeing who? Who will lead what team? etc.

We see from the passage that the general manager distributed jobs according to each employees ability. And in doing so also defined reporting lines.

This is an example of the Control function of management.

Cheers!

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The following information has been gathered for Foxmoor Industries for its fiscal year ending December 31: Estimated factory ove
lions [1.4K]

Answer:

Estimated manufacturing overhead rate= $32 per labor hour

Explanation:

Giving the following information:

The estimated factory overhead costs $ 2,496,000. Estimated labor hours 78,000.

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 2496000/78000= $32 per labor hour

5 0
2 years ago
Sue now has $125. How much would she have after 8 years if she leaves it invested at 8.5% with annual compounding
hichkok12 [17]

Answer:

FV= $240.08

Explanation:

Giving the following information:

Sue now has $125.

Number of periods= 8 years

Interest rate= 8.5% with annual compounding

<u>To calculate the future value of the investment, we need to use the following formula:</u>

FV= PV*(1+i)^n

FV= 125*(1.085)^8

FV= $240.08

8 0
2 years ago
Which of the following statements are true about this natural monopoly? Check all that apply. The cable company is experiencing
solong [7]

Answer:

The answers are It is more efficient on the cost side for one producer to exist in this market rather than a large number of producers. And It is true that without government regulation, natural monopolies can earn positive profit in the short run.

Explanation:

It is more efficient on the cost side for one producer to exist in this market rather than a large number of producers.

Without government regulation, natural monopolies can earn positive profit in the short run.  It is a true statement.

3 0
2 years ago
Read 2 more answers
LO 2.1Explain how the income statement of a manufacturing company differs from the income statement of a merchandising company.
marshall27 [118]

Answer:

Revenue: The revenue of Manufacturing company comes from the sale of the products that they manufacture. However the merchandising company purchases goods from manufacturing companies and distribute them to make it easier for the customer to access the product and earn a profit on it which increases the cost of the product to end consumer. The contract between the manufacturing and merchandising company can be an agreement of principal and agent. In this case, the revenue for the merchandising company would be commission earned from manufacturing company. This commission paid to merchandising company will be cost to manufacturing company.

Cost of Sale: Now the raw material costs plus depreciation of production machinery plus direct labour plus variable Overhead cost plus if their is any commission paid for sale of finished goods will be the cost of sale for manufacturing  company. Whereas in the case of Merchandising company, the cost of sale will be only the cost of goods they sold in the year. The depreciation charge will be minor in merchandising company as they don't have any production machineries.

These the are major difference between manufacturing and merchandising company.

Explanation:

7 0
2 years ago
The phenomenon that magnifies the variability in order quantities for goods as orders move through the supply chain from the cus
AleksandrR [38]

Answer:

The answer is letter A, True.

Explanation:

In order to understand the answer better, let's get to know what a bullwhip effect is in a supply chain.

Supply Chain- this is defined as a network of all the individuals, organizations,resources, technology and activities involved in the creation and sale of a product. This starts from the delivery of the source materials from the supplier to the manufacturer up to the delivery to the end user.

Bullwhip effect- <em>this is considered to be a phenomenon of variability magnification. </em>The view moves from the customer to the producer of the supply chain. Thus, the answer is letter A.

<u>Additional Information</u>

The bullwhip effect occurs when the <em>changes in consumer demands cause the companies to order more goods to meet the new demand.</em> This affects the expectations around it, causing a domino effect along the supply chain.

This effect can be prevented by having a clear communication between suppliers and customers. This will allow suppliers to prevent the occurrence of increase cost that will affect the overall supply chain.

3 0
2 years ago
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