,Terri Hill question 2
What is operation management (ignore needed 100 words for description the questions is on the picture below.)
Designing and controlling the production process, as well as rethinking company operations in the creation of goods or services, are all aspects of operations management. It entails ensuring that business operations are both efficient in terms of using as little resources as possible and effective in terms of meeting consumer needs.
It is concerned with the whole management of a production or service system, which is the process of converting inputs (raw materials, labour, consumers, and energy) into outputs (goods and/or services for consumers).
Production, quality control, and service creation are all part of operations. Banking institutions, hospitals, and businesses are all examples of operations management.
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ANSWER OPTIONS AVAILABLE:
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2. financial / goods and services
3. An increase / stagnation
4. economic decline / economic growth
5. goods and services / monetary payments
6. goods and services / monetary payments
7. inputs / outputs
8. money / goods and services
9. sellers / buyers
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Prepare Journal Entries for
1. Raw materials were purchased on account: $236000
2. Raw materials were requisitioned for use in production:
$208,000 (85% direct and 15% indirect)
3. Record the costs that were incurred for employee
services.
4. Heat, power, and water costs were incurred in the factory:
$50,100.
5. Prepaid insurance expired during the year: $19,000 (80%
relates to factory operations, and 20% relates to selling and
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and Cost of Goods Sold. Post Relevant data from your journal
entries to these T-Accounts (don't forget to enter the opening
balances in your inventory accounts). Compute and ending balance in
each account.
Ravsten Company uses a job-order costing system. On January 1, the beginning of the current year, the company's inventory balances were as follows: Raw Materials .... ....... Work in Process ..................... Finished Goods ........................ $16,000 $10,000 $30,000 The company applies...
ANSWER OPTIONS AVAILABLE:
1. selling / purchasing
2. financial / goods and services
3. An increase / stagnation
4. economic decline / economic growth
5. goods and services / monetary payments
6. goods and services / monetary payments
7. inputs / outputs
8. money / goods and services
9. sellers / buyers
10. sellers / buyers
11. (check all that apply)
CENGAGE MINDTAP a Search this course Ch 01: Assignment - Understanding the Financial Planning Process 0 Most people recognize...
Answer NO Question Which of the following is not the responsibility of an operations manager? a. acquiring financial resources managing inventories planning production d. scheduling production was a radical change in manufacturing organization which made equipment with complex parts a. division of labor b. scientific management c. interchangeable parts d. craft production In the recent time, there has been a major paradigm shift in the way consumers and business operate. This is motivated by a) Internet Revolution b) Globalization c)...
Prepare Journal Entries for
1. Raw materials were purchased on account: $236000
2. Raw materials were requisitioned for use in production:
$208,000 (85% direct and 15% indirect)
3. Record the costs that were incurred for employee
services.
4. Heat, power, and water costs were incurred in the factory:
$50,100.
5. Prepaid insurance expired during the year: $19,000 (80%
relates to factory operations, and 20% relates to selling and
administrative activities).
6. Advertising costs were incurred, $59,000.
7. Depreciation was recorded...
Exercise # 5-7
Required! 2 Compute the amount of underapplied or overapplied overhead cost IUI I J Prepare a schedule of cost of goods manufactured for the year. EXERCISE 5-7 Prepare T-Accounts (L04, LO6] Granger Products recorded the following transactions for the just completed month. The company had no beginning inventories: a $75,000 in raw materials was purchased for cash. be $73.000 in raw materials was requisitioned for use in production. Of this amount, $67,000 was for direct materials and...
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2. Prepare T-Accounts for inventories, Manufacturing overhead,
and Cost of Goods Sold. Post Relevant data from your journal
entries to these T-Accounts (don't forget to enter the opening
balances in your inventory accounts). Compute and ending balance in
each account.
Ravsten Company uses a job-order costing system. On January 1, the beginning of the current year, the company's inventory balances were as follows: Raw Materials .... ....... Work in Process ..................... Finished Goods ........................ $16,000 $10,000 $30,000 The company applies...
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