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Jimbo Elrod has obtained fixed and variable cost information
for four potential
locations for his professional wrestling school and summarized
it in tabular form
below. All values are in dollars - ANSWER -Location B,
4000 Students
The phenomenon that a dollar in cost savings increases pretax
profits by a dollar, while a dollar increase in sales increases
pretax profits only by the dollar multiplied by the pretax profit
margin is known as the: - ANSWER -Profit
Leverage Effect
The use of supply chain partners to provide products or
services is called -
ANSWER –
Outsourcing
One advantage of outsourcing is that it - ANSWER -Increases
the company's
, access to state of the art products and
processes
The two basic types of purchasing contracts are: - ANSWER -
Fixed Price and
Cost
Based
The purchasing team examined all of their purchasing patterns
in order to identify any irregularities or possible areas of cost
savings in a little scheme they liked to call: - ANSWER -Spend
Analysis
Qualitative forecasts are used when there is plenty of relevant
data - ANSWER
-
False
When there is a significant upward or downward trend in the
data, the two best forecasting models are exponential
smoothing and linear regression - ANSWER -False
Demand was low two years ago but increased sharply last year
thanks to an aggressive marketing campaign. A time series
model that puts the greatest emphasis on the most recent
period is probably the best choice to predict next year's
demand. - ANSWER -False