Chapter 23 Homework - Nicholas Kuras Chapter 23 Q: 1, 5, 7,...

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Nicholas Kuras Chapter 23 Q: 1, 5, 7, 10 | P: 3A, 2B 1) 1. Identify the problem and assign responsibility 2. Determine and evaluate possible courses of action 3. Make the decision 4. Review the results of the decision 5) Total cost per unit, expected revenue, variable manufacturing costs 7) Opportunity cost is the potential benefit that may be obtained from following an alternative course of active. It is relevant because you need to think about the costs associated with choosing a course of action, and what other options you may have. For example, if you choose to buy a certain part, you don’t have to spend the time making it, thus you can use that time for something else. 10) While that product may not be profitable, it may cause other sales for that product. For example, many video game consoles are not profitable and are sold at a loss, but the accessories and games that are sold because of the console sale more than make up for the loss from the console itself. 3A)
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Chapter 23 Homework - Nicholas Kuras Chapter 23 Q: 1, 5, 7,...

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