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Instructions

Submission Format:

Please address each of the following issues in a separate paragraph or two, with each response identified by the corresponding letter of the issue you are addressing. Your responses should reflect issues you have studied in the modules and must be your own work. If you do incorporate other sources, be sure to clearly identify them as such.

Assignments submitted to the corresponding drop-box will be screened for academic honesty using Turnitin. Assignments must have less than 25% similarity index in order to be graded.

Please DO NOT include the questions; just number your responses appropriately. All submissions are expected to be college-level work, with appropriate spelling, grammar, formatting, etc., and must be submitted in .doc or .dox format.

Assignment 3

Issue 1.

Describe a current product (good or service) you believe has entered the Decline Stage of the Product Life Cycle. What factors caused it to go into decline? Can you think of any change in the 4Ps that might allow the life of the product to be extended?

Issue 2.

Of all the promotional tools we looked at, which one is the most effective in getting your attention and interesting you in a product? Conversely, which of the tools is something that has a slim to zero chance of reaching you, much less interesting you?

Issue 3.

Keeping the Fundamental Accounting Equation in mind (Assets = Liabilities + Equity), categorize the items below into the proper category to create a simple balance sheet.

Please provide the balance sheet in its entirety, not just the answer to the equation. Do NOT paste a picture of a file... write the balance sheet out. Do NOT use a template created elsewhere. If you use an electronic spreadsheet, submit the spreadsheet file in addition to the word file used for the rest of this assignment.

Refer to your BC Online ID number and determine what the first two (2) non-zero numbers are. (For instance, if my ID was E00123456, my first two numbers would be "12". If it was E100524, it would be 15.) Use those two numbers to replace the "XX's" in the two entries below.

Equipment	200000
Accounts Payable	50000
Cash	25000
Loans Payable	125000
Buildings	400000
Retained Earnings	8300XX
Land	125000
Accounts Receivable	100000
Inventory	1550XX

Issue 4.

Barrell Racer Betty has decided to make and sell custom saddles. She was able to rent a workshop/garage in an industrial park for $5,000 a month, which includes all utilities, and she already owns the equipment and tools she needs. She anticipates being able to sell her saddles for $2,000 each. The raw materials (leather, wood, etc.) will cost an average of $800 for each saddle, and he plans to spend $200 sales commission per saddle to the regional tack shops who have agreed to sell them to the public.

Assuming these are all the costs and revenues, what will be Bettys monthly break-even point in units? Does this seem like a reasonable amount for her to produce and sell every month? Please show your calculations. Again, do NOT paste a picture of a solution... write the answer out yourself.