MBA 640 (Summer IS 2010) MANAGERIAL ECONOMICS EXAM #1 STUDENT NAME: Exam is open book and open material. 1. Explain the interaction of Managerial Economics with other business disciplines‚ giving specific examples. Managerial economics has been defined by conventional theorists as a science that "is all about how people make choices" After you’ve defined managerial economics and it’s relationship to its economic theory. Managerial economics will interact with each of these business’s
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PROBLEM 1. The Huyden Company builds equipment to customer’s specifications. On March 1‚ two jobs were in process with the following costs and information: | Job 43 | Job 44 | Direct materials | $10‚200 | $34‚400 | Direct labor | 21‚000 | 10‚400 | Applied overhead* | 4‚950 | 7‚370 | Total cost | $36‚150 | $52‚170 | | | | Machine hours | 45 | 67 | *Applied on the basis of machine hours During March‚ Job 45 was started and Job 44 was completed and delivered to
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Midterm Exam You will have 2 ½ hours to complete the exam. The exam is open note and open book‚ everything but open conversation. There are nine (9) problems worth 30 points each. Take your time. You cannot stop and restart the exam. You will not need a proctor for the exam. You will need to know how to calculate the following: Product costs Period costs Variable costs Fixed costs High-low method Prepare a contribution format income statement Prepare a traditional format income statement
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Science of Managerial Economics Running successful businesses requires involvement of well experienced and talented managers; all companies’ stakeholders concern‚ in running companies‚ is to make profits and expectation is on managers’ part to make such desire become the fact of reality. One of the tools managers use to analyse company’s performances and be able to make intelligent decisions- for further profitability and sustainability of the corporations- is by economical tool. “managerial economics
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Problem Solution: Global Communications Global Communications has recently felt the pressures of competitors in the telecommunications industry. With new competitors entering the field constantly and cable and satellite companies reaching out to new adventures‚ it makes it increasingly difficult for them to survive. Cable companies have been able to offer complete packages to consumers including telephone‚ computer and television services with success. The technological edge and financial abilities
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Interpersonal Managerial Role of a Project Manager Liberty University Abstract As project management is becoming more and more of an important to organizations‚ it is important for those taking the position to have the ability to handle the role. A project manager is in charge of managing and leading a team to successfully complete a project for the benefit of the company. For the team to be effective‚ the supervisor‚ or project manager‚ must have both technical and personal skills. A main factor
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Exercise 11-1 (10 minutes) 1. 2. 3. Exercise 11-2 (10 minutes) Average operating assets £2‚200‚000 Net operating income £400‚000 Minimum required return: 16% × £2‚200‚000 352‚000 Residual income £ 48‚000 Exercise 11-3 (20 minutes) 1. Throughput time = Process time + Inspection time + Move time + Queue time = 2.8 days + 0.5 days + 0.7 days + 4.0 days = 8.0 days 2. Only process time is value-added time; therefore the manufacturing cycle efficiency
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Managerial Function in International Business Importance of managerial function in international business When it comes to international expansion of a business‚ there are many things that the organization must keep in mind. An international business may function similar to a domestic business‚ however‚ the procedures and technicalities differ. Due to level of increasing competition between the global companies‚ it is of utmost importance that the employees are trained to be flexible enough to
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+ CONCORDIA UNIVERSITY Course: Managerial Accounting‚ No.: COMM 305 & ACCO. 240 Sections: All Examination: Alternate Final Date: June‚ 2006 No. of Pages: 9 including the cover page Material Allowed: Non-programmable calculators and dictionaries Special Instructions: Answer all multiple choice questions in the Answer Sheet form no. 4521 Return the exam questions with your answers. Student Name: Student ID No
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MEANING SCOPE AND METHODS OF MANAGERIAL ECONOMICS INTRODUCTION Emergence of managerial economics as a separate course of management studies can be attributed to at least three factors.: (a) growing complexity of business decision making process due to changing market conditions and business environment (b) consequent upon‚ the increasing use of economic logic ‚ concepts theories and tools o economic analysis in the process of business decision making (c) Rapid increase in demand for professionally
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