Answer:
Consider the following calculations
Explanation:
Answer a.
Delivery Cycle Time = 33.0 days
Throughput Time = 15.0 days
Delivery Cycle Time = Throughput Time + Wait Time
33.0 = 15.0 + Wait Time
Wait Time = 18.0 days
Answer b.
MCE = 0.32
Throughput Time = 15.0 days
MCE = Process Time / Throughput Time
0.32 = Process Time / 15.0
Process Time = 4.80 days
Answer c.
Throughput Time = Process Time + Inspection Time + Move Time + Queue Time
15.0 = 4.80 + Inspection Time + 0.4 + 7.0
Inspection Time = 2.8 days
Answer:
(a) a schedule of cost of goods manufactured
Purchases $ 92,000
Materials inventory, March 1 $ 6,000
Materials inventory, March 31 ($ 8,000)
Material Consumed $ 90,000
Direct labor $ 25,000
Factory overhead $ 37,000
Work in process, March 1 $ 22,000
Work in process, March 31 ($ 23,500)
COGM $ 150,500
(b) an income statement for the month
Sales $ 257,000
COGS
COGM $ 150,500
FG opening $ 21,000
FG closing ($ 30,000)
Total ($ 141,500)
Gross profit $ 115,500
Sales and administrative expenses ($ 79,000)
Net profit $ 36,500
Answer:
Firms have no incentive to change how much they produce.
Explanation:
Office salaries are not a cost element in manufacturing a product.
A product is an item offered for sale. Products are services or items. It can be in physical or virtual or cyber forms. All products are made at a price and sold at a price. The price charged varies by market, quality, marketing, and target segment.
A product is an item or service sold to satisfy a customer's needs or desires. they are physical or virtual. Physical products include durable goods (such as cars, furniture, and computers) and consumables (such as food and beverages).
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