Question

Walsh Company manufactures and sells one product. What information pertains to each of the company's first two years of operations?

Answer 1

In the first two years, Walsh Company must make decisions regarding product selection, production process, output level, pricing, and labor employment.

Step-by-step explanation:

Walsh Company's first two years of operations involve decisions related to product selection, production process, output level, pricing, and labor employment.

1. Product selection: The company needs to determine which product or products it should produce. This decision may be based on market demand, the company's capabilities, and profitability.
2. Production process: The company needs to establish how it should produce the products. This includes determining the most efficient and cost-effective methods and technologies to use in the production process.
3. Output level: The company needs to decide how much output it should produce. This decision is influenced by factors such as market demand, production capacity, and cost considerations.
4. Pricing: The company needs to determine the price it should charge for its products. This decision is influenced by factors such as production costs, competition, and customer willingness to pay.
5. Labor employment: The company needs to decide how much labor it should employ. This decision is based on factors such as the production process, desired output level, and labor costs.