Answer:
124,300
Explanation:
Finished goods is the inventory which is completed during the period and is ready to be sold out. Finished goods is a part of available for sale inventory of a company. Crane corporations finished goods inventory on the year end December 31 is 124,300. This is calculated as follows,
Finished goods inventory = Beginning Work in process - Materials added - Ending work in process .
Finished goods inventory = $14,600 + $126,400 - $16,700
Finished goods inventory = 124,300
Answer:
Stockholders' equity at the end of the year was $110,000.
Explanation:
Beginning Balance of Stockholder's Equity = $40,000
Net Income for the year = $90,000
Dividend declared in the year = $20,000
Ending Balance of Stockholder's Equity = Beginning Balance of Stockholder's Equity + Net Income for the year -Dividend declared in the year
Ending Balance of Stockholder's Equity = $40,000 + $90,000 - $20,000
Ending Balance of Stockholder's Equity = $110,000
Answer:
Explanation:
this is called make or buy decision, in this prblem we consider the that are directly related to product which can be avoided by purchasin g from other supplier instead producing it, fix cost irrelevant cost because they will occur whether or not company make production of items.
lets solve the problem as follows
Total Variable Cost :
Material 66950
Labor 56650
Variable O.H 30900
Total 154500
Remotes = 10300
Cost per unit Excluding fix cost= 154500/10300 = 15
Cost per unit Including fix cost= 206000/10300 = 20
1.cost between making and buying the remotes if none of the fixed costs can be avoided
Making Cost = 20
Buying Cost = 18
Differrence = 2
Net income If purchase from outside = 2*10300 = 20600
2. if $20,600 of the fixed costs can be avoided.
Total Cost = 206000
Cost avoided = -20600
Net Cost = 185400
Cost per units = 185400/10300 = 18
the cost of making and buying is equal due to decrease fix cost by 20600.
Change in net income = 20600
3.
Rental Income = 20600
Fix Cost save =20600
41200
Answer:
Lean production
Explanation:
Lean production refers to the management approach in which the company reduced its cost or do cost cutting so that it can improve the quality of their product and services. It is applied to each level each department of management like - design, production, etc
In the given situation, Calvin Manufacturing reduced their setup times that results in improving their quality control measures
So this situation represent the lean production technology
