Starting a new business requires through and careful planning, which takes all aspects of the business into consideration. Funds for starting the business must also be available and the entrepreneur must be very disciplined and ready to put in a lot of work in order for the business to succeed.
Any step that will result in the eventual failure of the business is not a good step to take. At the early days of the new business especially, care must be taken not to take any step that will put the finances of the business in jeopardy.
The X bar chart will allow the team to monitor the central tendency of the process although the process will not be in control.
<h3>What is the
X bar chart?</h3>
This refers to a Shewhart control chart that are used to monitor the arithmetic means of successive samples of constant size.
Hence, the X bar chart will allow the OM team to monitor the central tendency of the process although the process will not be in control.
Therefore, the Option B is correct.
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Answer:
It is cheaper to make the units in-house.
Explanation:
Giving the following information:
Make in-house:
Direct material $ 8
Direct labor 24
Overhead 40
Total costs per unit $72
Buying price= $60
<u>We need to determine which option provides the lower cost. Because 40% of overhead will remain constant, we have to take it out of the equation.</u>
<u>Production cost:</u>
Direct material $ 8
Direct labor 24
Overhead= 40*0.6= 24
Total production cost= $56
It is cheaper to make the units in-house.
Answer:
Record all transactions in a check register.
Explanation:
It's easier to track how money is spent if there is a paper trail.
