1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
raketka [301]
3 years ago
12

Vernon Inc. has analyzed the setup time on its computer-controlled lathe. The setup requires changing the type of fixture that h

olds a part. The average setup time has been 140 minutes, consisting of the following steps:
Turn off machine and remove fixture from lathe 15 minutes
Go to tool room with fixture 15
Record replacement of fixture to tool room 18
Return to lathe 20
Clean lathe 20
Return to tool room 20
Record withdrawal of new fixture from tool room 12
Return to lathe 15
Install new fixture and turn on machine 5
Total setup time 140 minutes
Required:
a. Why should management be concerned about improving setup time?
b. Which of the following are the ways to improve Hammond Inc.'s setup time?1. limit the trips to the tool room to one round trip, rather than two.2. change the location of the fixtures to reduce lathe setup time.3. eliminate the tool room and instead locate the tools in a visible location near the lathe.4. change the entire lathe room layout, so that fewer steps are required to turn the lathe on and off, as well as clean the lathe and change fixtures for the lathe.5. All of these are ways to improve setup time.c. How much time would be required for a setup, using your suggestion in (b)?

Business
1 answer:
umka21 [38]3 years ago
6 0

Answer:

Explanation:

Please locate the attached file below for the answer for the given problem.

You might be interested in
Tabares Corporation had these transactions during 2020.
kozerog [31]

Answer:

Tabares Corporation

Indication of whether each transaction is an operating activity, investing activity, financial activity, or noncash investing and financing activity:

a) Financing activity

b) Investing activity

c) Noncash financing activity

d) Financing activity

e) Investing activity

f) Operating activity

g) Operating activity

Explanation:

A statement of cash flows is a financial statement that shows the inflow and outflow of cash for a period.  It is divided into 3 main activities and noncash investing and financing activity.

The activities are Operating, Financing, and Investing.  The Operating Activity section shows the inflow and outflow of cash from normal business operations.

The Financing Activity section shows the inflow and outflow of cash from financing (raising funds and repayment of funds) the business.

The Investing Activity section shows the inflow and outflow of cash as a result of the investments made by the entity, including the purchase of noncurrent assets and security investments, and their disposal.

4 0
3 years ago
aw materials purchased on account, $210,000. Raw materials used in production, $190,000 ($178,000 direct materials and $12,000 i
WITCHER [35]

Answer:

raw materials   210,000 debit

  account payable     210,000 credit

--to record purchase of raw materials on account--

WIP                                  178,000 debit

Manufacturing overhead 12,000 debit

        Raw materials                       190,000 credit

-- to record use of materials during the period--

WIP                                    90,000 debit

Manufacturing overhead 110,000 debit

        Wages payable                       200,000 credit

-- to record accrued labor during the period--

Manufacturing overhead  40,000 debit

    Accumulated depreciation equipment    40,000 credit

-- to record accrued labor during the period--

Manufacturing overhead 70,000 debit

        Account payable           70,000 credit

--to record other overhead cost accrued--

WIP       240,000 debit

   Manufacturing Overhead 240,000 credit

--to record applied overhead--

Finished Goods    520,000 debit

        WIP                                 520,000 credit

--to record transferred-out goods for the period--

Accounts receivable   600,000 debit

       Sales Revenue                   600,000 credit

--to record sales revenue--

COGS      480,000 debit

    Finished Goods    480,000 credit

--to record cost of goods sold --

  Overhead

Debit       Credit

12,000

110,000

40,000

70,000

<u>                  240,000</u>

<u>232,000   240,000</u>

Balance:       8,000

      WIP

Debit       Credit

 42,000

178,000

 90,000

240,000

<u>                520,000</u>

<u>550,000  520,000</u>

  30,000

Explanation:

For labor and raw materials we will assign the direct cost as part of Work In Process inventory. The indirect part will be post Overhead.

All this actual cost of overhead will be debited. When doing the applied overhead we credited so the difference will tell us the over or underapplied overhead.

Applied overhead calculation:

30,000 machine hours x $8 per hour = $240,000

Then we transfer the finished goods from WIP into finished goods inventory.

The sales price will be 480,000 x (1 + 25% markup) = 600,000

For the T-accounts we will post each value of the WIP and Overhead account. Then add each column and calculate the balance considering the 42,000 beginning inventory

3 0
3 years ago
The income elasticity of demand for a food is unity. a consumer's monthly income is $2,000, of which 20 percent is spent on food
Anna11 [10]
Obviously, it becomes half so it'll be 10%
Forgive me if its wrong. im answering as best as i can.
8 0
4 years ago
Jason felt the restaurant was too expensive for his taste as soon as he looked at the menu posted on the outside wall by the ent
harina [27]
<span>A product used in this way is known as a Benchmark Item.
Benchmark item refers to the type of  product that is used as a standard when we want to compare it another similar product.
By seeing the price of Burger in this particular situation, Jason could predict the price of other product that being sold in that place.</span>
6 0
3 years ago
On December 31, the balance in the office supplies account is $1,385. A physical count shows $435 worth of supplies on hand. Pre
deff fn [24]

Answer:

Supplies Expense         $ 950 Dr.

     Supplies Account                                $ 950 Cr  

To record supplies used .

Explanation:

Supplies are assets until they are used. When they are used up their costs are reported as expenses. The cost of unused supplies are recorded in a supplies asset account.

The entry above shows that supplies of $ 950 have been used up during the accounting period from the amount of $ 1385 leaving supplies of $ 435.  

Not making an adjustment entry on 31 Dec would underestimate expenses and overstate net income.

7 0
4 years ago
Other questions:
  • In making business decisions, Glenda, personnel manager for HVAC Maintenance, Inc., applies his belief that all persons have fun
    5·1 answer
  • Jupiter Systems, an information technology company, determines that most problems handled by employees at its help desk can be r
    7·1 answer
  • Which of the following would make a segment less attractive to​ enter? A. A lack of aggressive competitors B. Suppliers with wea
    7·1 answer
  • When a company organizes its research, new business development, and product development activities into separate organizational
    5·1 answer
  • Select the correct answer from each drop-down menu.
    8·1 answer
  • Buzz Appliances manufactures two​ products: Food Processors and Espresso Machines. The following data are​ available:
    11·1 answer
  • What event had an enormous effect on US workplace safety?
    6·2 answers
  • Haven Company uses the percentage of sales method for recording bad debts expense. For the year, cash sales are $600,000 and cre
    10·1 answer
  • Flychucker Corporation is evaluating an extra dividend versus a share repurchase. In either case $14,000 would be spent. Current
    14·1 answer
  • ____?____ brands are a form of private, no-frills goods stocked by some retailers that usually get secondary shelf locations, ha
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!