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Which of the following is not a direct cost associated with inventory? OA. carrying costs O...
54. Business: Inventory Costs Retailers are concerned about inventory costs. The total inventory cost, C(x), for a lot size of x units, is the sum of the carrying costs, H(x), and the order/reorder co...
54. Business: Inventory Costs Retailers are concerned about inventory costs. The total inventory cost, C(x), for a lot size of x units, is the sum of the carrying costs, H(x), and the order/reorder costs, R(x). That is, C(x) = H(x) + R(x). All costs are in dollars. Carrying costs are (carrying cost per unit) ⋅ x/2 Order/reorder costs are (cost per order) ⋅ (number of units sold during time period)/x The lot size x is the number of units the...
As for a given job the direct costs associated with the job are O A. fixed...
As for a given job the direct costs associated with the job are O A. fixed costs O B. actual overhead O C. raw materials D. sunk costs lick to select your answer. 11:5ypm
1- Inventory costs include all of these: purchase costs, holding or carrying costs, and ordering costs....
1- Inventory costs include all of these: purchase costs, holding or carrying costs, and ordering costs. T. True F. False 2- The Economic Order Quantity (EOQ) model tells us........ A. how much to order B. which are higher - holding or ordering costs C. how to use price discounts D. when to order 3- When tracking or counting inventory items, we should focus on which items most? A. A-items B. B-items C. C-items D. D-tems 4- The Economic Order Quantity...
In Base Stock Inventory Model 4. There is no setup cost associated with placing an order;...
In Base Stock Inventory Model 4. There is no setup cost associated with placing an order; and 5. There is no constraint on the number of orders that can be placed per year. Last two assumptions imply that there is no incentive to replenish stock in anything other than one-at-a-time fashion. How we infer this? If there is no setup cost associated with placing an order Wouldn't we like to order more than one because orders setup costs are...
Which of the following costs is classified as a period cost under variable costing? O a....
Which of the following costs is classified as a period cost under variable costing? O a. Fixed manufacturing overhead O b. Variable manufacturing overhead O c. The cost of direct materials O d. The cost of direct labor Which of the following is true of a fixed cost? O a. Fixed costs in total vary in direct proportion to changes in output within the relevant range. O b. The per unit fixed cost increases with an increase in the level...
1. Which of the following affects the calculation of the reorder point? a. Average usage b....
1. Which of the following affects the calculation of the reorder point? a. Average usage b. Average lead time c. Safety stock d. All of the above 2. The role of safety stock in an organization is to a. Reduce the lead-time for an order to be received. b. Reduce the likelihood of a stockout. c. Reduce the reorder point. d. Decrease the economic order quantity. 3. The costs of preparing, issuing, and paying purchase orders, plus receiving and inspecting...
3. Calculate the Economic Ordering Quantity (EOQ) model Aa Aa Inventory costs can be categorized as...
3. Calculate the Economic Ordering Quantity (EOQ) model Aa Aa Inventory costs can be categorized as the costs associated with holding the inventory, ordering and receiving the inventory, or running out of the inventory. For example, costs are the direct and indirect costs of keeping inventory on hand. carrying ordering The number of units in the optimal size order is called the economic ordering quantity (EOQ). Jones Company purchases custom-made durable packing boxes to ship its equipment. Each year, Jones...
1. Which of the following costs are conversion costs? a. direct materials cost and factory overhead...
1. Which of the following costs are conversion costs? a. direct materials cost and factory overhead cost b. direct labor cost and factory overhead cost c. factory overhead cost d. direct materials cost and direct labor cost 2. Given the following data: Work in process, beginning $14,000 Work in process, ending 20,000 Direct labor costs 4,000 Cost of goods manufactured 8,000 Factory overhead 8,000 Direct materials used is a. $2,000 b. $4,000 c. $14,000 d. $8,000 3. Prime...
5.) Which of the following is an example of a direct cost? A.) Raw materials applied...
5.) Which of the following is an example of a direct cost? A.) Raw materials applied to a house during construction. B.) Labor for the sales department, trying to specifically sale house 1. C.) Labor for the cleanup crew. D.) Materials in the warehouse that is divided into the different projects (i.e. house 1, house 2, etc.) 6.) Which of the following accounts represents the costs associated with goods that were completed and sold? A.) Cost of Goods Sold. B.)...
Classifying a cost as either direct or indirect depends upon OA. whether the cost is expensed...
Classifying a cost as either direct or indirect depends upon OA. whether the cost is expensed in the period in which it is incurred O B. whether a cost is fixed or variable ° C. whether the cost can be traced to a particular cost object in an economically feasible way O D. the behavior of the cost in response to volume changes
As for a given job the direct costs associated with the job are O A. fixed costs O B. actual overhead O C. raw materials D. sunk costs lick to select your answer. 11:5ypm
Which of the following costs is classified as a period cost under variable costing? O a. Fixed manufacturing overhead O b. Variable manufacturing overhead O c. The cost of direct materials O d. The cost of direct labor Which of the following is true of a fixed cost? O a. Fixed costs in total vary in direct proportion to changes in output within the relevant range. O b. The per unit fixed cost increases with an increase in the level...
1. Which of the following affects the calculation of the reorder point? a. Average usage b. Average lead time c. Safety stock d. All of the above 2. The role of safety stock in an organization is to a. Reduce the lead-time for an order to be received. b. Reduce the likelihood of a stockout. c. Reduce the reorder point. d. Decrease the economic order quantity. 3. The costs of preparing, issuing, and paying purchase orders, plus receiving and inspecting...
3. Calculate the Economic Ordering Quantity (EOQ) model Aa Aa Inventory costs can be categorized as the costs associated with holding the inventory, ordering and receiving the inventory, or running out of the inventory. For example, costs are the direct and indirect costs of keeping inventory on hand. carrying ordering The number of units in the optimal size order is called the economic ordering quantity (EOQ). Jones Company purchases custom-made durable packing boxes to ship its equipment. Each year, Jones...
5.) Which of the following is an example of a direct cost? A.) Raw materials applied to a house during construction. B.) Labor for the sales department, trying to specifically sale house 1. C.) Labor for the cleanup crew. D.) Materials in the warehouse that is divided into the different projects (i.e. house 1, house 2, etc.) 6.) Which of the following accounts represents the costs associated with goods that were completed and sold? A.) Cost of Goods Sold. B.)...
Classifying a cost as either direct or indirect depends upon OA. whether the cost is expensed in the period in which it is incurred O B. whether a cost is fixed or variable ° C. whether the cost can be traced to a particular cost object in an economically feasible way O D. the behavior of the cost in response to volume changes
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