Homework Answers
| Correct answer is: Products on average has less variety |
| Benefits of using a lean manufacturing system shall includes low wastage of resources, increased the quality of product, employees are more satisfied which improves the production flow and make it more smoother, Average inventory decreases etc. Whereas products variety has nothing to do with the benefits of lean manufacturing |
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Products, on average, have less variety Lead times are reduced Average inventory is decreased. Productivity is...
Concord Company is a multiproduct firm. Presented below is information concerning one of its products, the...
Concord Company is a multiproduct firm. Presented below is
information concerning one of its products, the Hawkeye.
Date
Transaction
Quantity
Price/Cost
1/1
Beginning inventory
1,500
$14
2/4
Purchase
2,500
21
2/20
Sale
3,000
35
4/2
Purchase
3,500
27
11/4
Sale
2,700
39
Calculate average-cost per unit. (Round answer to 4
decimal places, e.g. 2.7613.)
Average-cost per unit
$
LINK TO TEXT
Compute cost of goods sold, assuming Concord uses:
(Round average cost per unit to 4 decimal places, e.g.
2.7631...
Answer problem in full. We were unable to transcribe this image1. Determine the fixed and variable...
Answer problem in full.
We were unable to transcribe this image1. Determine the fixed and variable portion of the utility cost using the high-low method. Round the per unit cost to the nearest cent. At High Point At Low Point A Variable cost per unit Total fixed cost A A Total cost 2. Determine the contribution margin per case. Enter your answer to the nearest cent. Contribution margin per case $ 3. Determine the fixed costs per month, including the...
pard> My courses 19/WI BEC-151-99 Part 1: Introduction to Economics and Macroecono uestion 9 Not complete...
pard> My courses 19/WI BEC-151-99 Part 1: Introduction to Economics and Macroecono uestion 9 Not complete P Flag question Points out of 3.00 Monetary and fiscal policies: Select one: a. can reduce the severity of economic busts. e b. have been proven to be ineffective and are no longer used during recessions. e c. only work during times of rapid inflation. d. are tools used during economic booms but not economic busts Check Previous page Type here to search SAMSUNG...
Case 9-2 Receivables and inventory turnover Thorby Inc. completed its fiscal year on December 31. The...
Case 9-2 Receivables and inventory turnover Thorby Inc. completed its fiscal year on December 31. The auditor, Kim Holmes, has approached the CFO, Brad Potter, regarding the year-end receivables and inventory levels of Thornby Inc. The following conversation takes place: Kim: We are beginning our audit of Thornby Inc. and have prepared ratio analyses to determine if there have been significant changes in operations or financial position. This helps us guide the audit process. This analysis indicates that the inventory...
I really need help! Assume it is Monday, May 1, the first business day of the...
I
really need help!
Assume it is Monday, May 1, the first business day of the month, and you have just been hired as the accountant for Colo Con which operates with monthly accounting periods. All of the company's accounting work is completed through the end of Apri ledgers show April 30 balances. During your first month on the job, the company experiences the following transactions and (terms for all its credit sales are 2/10, n/30 unless stated differently): We...
One question, four parts to the same question. Superior Micro Products uses the weighted-average method in...
One question, four parts to the same question.
Superior Micro Products uses the weighted-average method in its process costing system. During January, the Delta Assembly Department completed its processing of 25,200 units and transferred them to the next department. The cost of beginning work in process inventory and the costs added during January amounted to $664.272 in total. The ending work in process inventory in January consisted of 2,800 units, which were 50% complete with respect to materials and 30%...
Textra Plastics produces parts for a variety of small machine manufacturers. Most products go through two...
Textra Plastics produces parts for a variety of small machine manufacturers. Most products go through two operations, molding and trimming, before they are ready for packaging. Expected costs and activities for the molding department and for the trimming department for this year follow. (Round "OH rate and cost per unit" answers to 2 decimal places.) Direct labor hours Machine hours Overhead costs Molding Trimming 52,000 DLH 48,000 DLH 30,500 MH3 ,600 MH $768,000 $628,000 Data for two special-order parts to...
Starfax, Inc., manufactures a small part that is widely used in various electronic products such as...
Starfax, Inc., manufactures a small part that is widely used in various electronic products such as home computers. Results for the first three years of operations were as follows (absorption costing basis): Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income (loss) Year 1 $ 819,200 593,920 225,280 194,560 $ 30,720 Year 2 $ 655,360 409,600 245, 760 184,320 $ 61,440 Year 3 $ 819,200 634,880 184,320 174,080 $ 110,2401 In the latter part of...
Ayayai Inc. manufactures a variety of consumer products. The company’s founders have run the company for...
Ayayai Inc. manufactures a variety of consumer products. The company’s founders have run the company for 30 years and are now interested in retiring. Consequently, they are seeking a purchaser who will continue its operations, and a group of investors, Morgan Inc., is looking into the acquisition of Ayayai. To evaluate its financial stability and operating efficiency, Ayayai was requested to provide the latest financial statements and selected financial ratios. Summary information provided by Ayayai is as follows. Ayayai Inc....
data table requirements part 1 part 2 Requirement 2. Prepare a perpetual inventory record using FIFO...
data table
requirements
part 1
part 2
Requirement 2. Prepare a perpetual inventory record using
FIFO
Start by entering the beginning inventory balances. Enter the
transactions in chronological order, calculating new inventory on
hand balances after each transaction. Once all of the transactions
have been entered into the perpetual record, calculate the
quantity and total cost of inventory purchased, sold, and on hand
at the end of the period. For cost of goods sold, enter the first
layer out under...
Concord Company is a multiproduct firm. Presented below is
information concerning one of its products, the Hawkeye.
Date
Transaction
Quantity
Price/Cost
1/1
Beginning inventory
1,500
$14
2/4
Purchase
2,500
21
2/20
Sale
3,000
35
4/2
Purchase
3,500
27
11/4
Sale
2,700
39
Calculate average-cost per unit. (Round answer to 4
decimal places, e.g. 2.7613.)
Average-cost per unit
$
LINK TO TEXT
Compute cost of goods sold, assuming Concord uses:
(Round average cost per unit to 4 decimal places, e.g.
2.7631...
Answer problem in full.
We were unable to transcribe this image1. Determine the fixed and variable portion of the utility cost using the high-low method. Round the per unit cost to the nearest cent. At High Point At Low Point A Variable cost per unit Total fixed cost A A Total cost 2. Determine the contribution margin per case. Enter your answer to the nearest cent. Contribution margin per case $ 3. Determine the fixed costs per month, including the...
pard> My courses 19/WI BEC-151-99 Part 1: Introduction to Economics and Macroecono uestion 9 Not complete P Flag question Points out of 3.00 Monetary and fiscal policies: Select one: a. can reduce the severity of economic busts. e b. have been proven to be ineffective and are no longer used during recessions. e c. only work during times of rapid inflation. d. are tools used during economic booms but not economic busts Check Previous page Type here to search SAMSUNG...
Case 9-2 Receivables and inventory turnover Thorby Inc. completed its fiscal year on December 31. The auditor, Kim Holmes, has approached the CFO, Brad Potter, regarding the year-end receivables and inventory levels of Thornby Inc. The following conversation takes place: Kim: We are beginning our audit of Thornby Inc. and have prepared ratio analyses to determine if there have been significant changes in operations or financial position. This helps us guide the audit process. This analysis indicates that the inventory...
I
really need help!
Assume it is Monday, May 1, the first business day of the month, and you have just been hired as the accountant for Colo Con which operates with monthly accounting periods. All of the company's accounting work is completed through the end of Apri ledgers show April 30 balances. During your first month on the job, the company experiences the following transactions and (terms for all its credit sales are 2/10, n/30 unless stated differently): We...
One question, four parts to the same question.
Superior Micro Products uses the weighted-average method in its process costing system. During January, the Delta Assembly Department completed its processing of 25,200 units and transferred them to the next department. The cost of beginning work in process inventory and the costs added during January amounted to $664.272 in total. The ending work in process inventory in January consisted of 2,800 units, which were 50% complete with respect to materials and 30%...
Textra Plastics produces parts for a variety of small machine manufacturers. Most products go through two operations, molding and trimming, before they are ready for packaging. Expected costs and activities for the molding department and for the trimming department for this year follow. (Round "OH rate and cost per unit" answers to 2 decimal places.) Direct labor hours Machine hours Overhead costs Molding Trimming 52,000 DLH 48,000 DLH 30,500 MH3 ,600 MH $768,000 $628,000 Data for two special-order parts to...
Starfax, Inc., manufactures a small part that is widely used in various electronic products such as home computers. Results for the first three years of operations were as follows (absorption costing basis): Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income (loss) Year 1 $ 819,200 593,920 225,280 194,560 $ 30,720 Year 2 $ 655,360 409,600 245, 760 184,320 $ 61,440 Year 3 $ 819,200 634,880 184,320 174,080 $ 110,2401 In the latter part of...
data table
requirements
part 1
part 2
Requirement 2. Prepare a perpetual inventory record using
FIFO
Start by entering the beginning inventory balances. Enter the
transactions in chronological order, calculating new inventory on
hand balances after each transaction. Once all of the transactions
have been entered into the perpetual record, calculate the
quantity and total cost of inventory purchased, sold, and on hand
at the end of the period. For cost of goods sold, enter the first
layer out under...
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