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kiruha [24]
3 years ago
12

Alfredo manufactures high-quality tennis shoes for specific sports. He has a large storage facility at the manufacturing plant b

ecause he stores a large supply of shoes. He has them on hand so he will never be out of stock when they are requested. He also keeps a large quantity of materials on hand to rapidly make shoes if he doesn’t have the shoes that are ordered in his storage facility. The holding cost of all the storage is causing a huge financial drain on his business.
He has come to you for advice about how to eliminate these overhead costs. What is your best advice to him?

a. Review the work-in-progress inventory and complete all shoes in a timely manner.
b. Require buyers to pick up their shoes immediately so he is not required to store them.
c. Route materials to the manufacturing plant so they arrive where they are needed when they are needed.
d. Change to a just-in-time inventory system and make the shoes as they are ordered rather than making and storing many shoes and hoping to sell them.
Business
1 answer:
AleksandrR [38]3 years ago
6 0

Answer:

d. Change to a just-in-time inventory system and make the shoes as they are ordered rather than making and storing many shoes and hoping to sell them.

Explanation:

In the Just-in-time inventory management system, materials purchased go straight to the production line. The business keeps minimum or nil raw material in its stores. Demand for goods guides the production process.

Should Alfredo manufactures adopt a Just in time production style, its inventory budgetary requirement will significantly reduce. Alfredo will be ordering for material need for production at that moment. The company will be manufacturing shoes that customers are ready to buy. Its cost of finished inventory will also decrease.

For Just-in-time system  to work well at Alfredo, managers must learn how to predict demand accurately and employ an excellent order management system

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On April 1, the company retained an attorney for a flat monthly fee of $3,500. Payment for April legal services was made by the
nirvana33 [79]

Answer:

A. Adjusting Entries on April 30:

Debit Legal Services Expense $3,500

Credit Legal Services Expense Payable $3,500

To record April legal services expense.

Debit Notes Interest Expense $1,932

Credit Notes Interest Payable $1,932

To record accrued interest expense.

Debit Salaries Expense $5,600

Credit Salaries Expense Payable $5,600

To record 2 days salaries accrued.

B. Journal Entries during May:

May 3:

Debit Salaries Expense Payable $5,600

Debit Salaries Expense $8,400

Credit Cash Account $14,000

To record payment of salaries.

May 12:

Debit Legal Services Expense Payable $3,500

Credit Cash Account $3,500

To record the payment of legal services for April.

May 20:

Debit  Notes Interest Payable $5,787

Credit Cash Account $5,787

To record payment of interest on notes.

Explanation:

Adjusting entries are made at the end of an accounting period to record expenses and revenue that have accrued but are not yet paid or received.  They are also used to account for expenses and revenue made in advance.  The purpose is to ensure that the accounting records reflect the period's actual expenses and revenue incurred and earned.

8 0
3 years ago
Pina Corporation entered into an operating lease agreement to lease equipment from Badger, Inc. on January 1, 2017. The lease ca
posledela

Answer:

= $80,273

Explanation:

Value of the right of use asset = Value of lease liability - cash incentive received + costs incurred for lease

                  = $82,773 -$ 6,000 + $3,000 + $500

                     =$80,273

4 0
3 years ago
Understand the general arguments made in sections 1, 2, and 7 of Kraut's "Aristotle on Becoming Good" and consider how these ide
lions [1.4K]

Answer:

Aristotle argues that what differentiates human beings from other animals is the human reason.

Explanation:

"Good life" can be seen as the one in which a person understand and exercise their rational faculties. The word "good" can be used to show moral approval. Therefore, for someone to be called good, they must have possessed and practiced many important virtues and not pursuing their own pleasure all the time.

According to Aristotle, happiness consists in achieving all the goods like health, wealth, knowledge, friends etc throughout a lifetime. He sees happiness as the central purpose of human life.

Aristotle believes that the highest good is a solitary nucleus which all other goods are acted upon and this highest good is happiness.

4 0
3 years ago
This introduces an applicant and the applicants resume to a potential employer
MrRa [10]

Answer

B. Cover Letter

Explanation

It is a single-page introductory document prepared for the recruiting agent which gives a glimpse of the potential candidate to the recruiter. It gives an highlight of the candidate’s overall strengths and the potentials that present him/her to the position as a great fit for the company. The cover letter typically helps the candidate to stand out from the rest of the recruits and aims at engaging the employer before going through the resume of the candidate.

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Savanna Smiles invested $5,000 for one year in a CD that earns interest at a rate of 3.5% compounded monthly. What is the intere
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We are asked to solve for the interest during the year given that it is compounded monthly, we are given with the formula A = P(1+r)^n. The solution is shown below;
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A = $5,000 (1.000292)^12
A = $5,177.84

Hope this helps!
7 0
3 years ago
Read 2 more answers
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