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eduard
3 years ago
14

Which of the following statements is true of​ just-in-time (JIT)​ purchasing? A. Only disadvantage of JIT purchasing is the high

er level carrying and inspection costs. B. In JIT​ purchasing, raw materials​ (or goods) are purchased so that products are delivered just as needed for production or sales. C. JIT purchasing is guided solely by the EOQ model because that model emphasizes the tradeoff between relevant carrying and ordering costs. D. In JIT​ purchasing, the optimal​ safety-stock level is the quantity of safety stock that minimizes the sum of annual relevant stockout and carrying costs.
Business
1 answer:
m_a_m_a [10]3 years ago
8 0

Answer:

B. In JIT​ purchasing, raw materials​ (or goods) are purchased so that products are delivered just as needed for production or sales.

Explanation:

JIT stands for Just in time management.  It is an inventory management approach that advocates for the purchase of materials just when they are needed for production. In JIT, there is no storing of materials for use for future production. The purchase of materials is aligned with the production process.

The success of JIT is dependent on management ability to forecast sales volumes accurately.  Management must work with reliable suppliers to ensure that materials are available when required. JIT lower's the cost of inventory management by eliminating the need to store huge quantities of materials. It reduces wastage by doing away with losses that arise due to the storage of bulk materials.

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1 increasing audience

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7 0
2 years ago
Own price increases are associated with decreases in quantity demanded, ceteris paribus. These decreases in quantity demanded ar
andrew11 [14]

Answer:

Income effect

Explanation:

Own price increases are associated with decreases in quantity demanded, ceteris paribus. These decreases in quantity demanded are composed of two effects, the substitution effect and the<u> Income effect.</u>

We know as per the law of demand, price increases lead to decrease in the quantity demanded if factor remain constant.

Quantity demanded has effect of two other major factors:

  • Subtitution effect.
  • Income effect.

Subtitution effect: It is the price of subtitution goods & services also lead to increase and decrease of demand for any particular goods.

Example: Price of tea and coffee.

Income effect: It is the income of consumer that effect the demand of any goods & sevices, as with the increase in income of consumer, their demand for inferior goods decreases and demand for branded goods increases.

Example: Non branded clothes and branded clothes.

3 0
3 years ago
As a result of a thorough physical inventory, Horace Company determined that it had inventory worth $320,000 at December 31, 201
Alex_Xolod [135]

Answer:

Option (b) is correct.

Explanation:

Correct amount of inventory to be reported:

Amount of inventory as per physical verification = $320,000

Cost of goods under consignment to Herschel Corporation = $47,000

Value of inventory to be reported:

= Amount of inventory as per physical verification + Cost of goods under consignment to Herschel Corporation

= $320,000 + $47,000

= $367,000

3 0
3 years ago
The accounts in the ledger of Seaside Furniture Company as of August 20Y5 are listed in alphabetical order as follows. All accou
musickatia [10]

Answer:

Cash $426,800.00

Debit side $6,500,000.00

Credit side $6,500,000.00

Explanation:

Preparation of the Unadjusted trial balance

SEASIDE Unadjusted Trial Balance

DEBIT SIDE

Cash 426,800.00

Accounts Receivable 660,500.00

Prepaid Insurance 21,600.00

Supplies 11,200.00

Land 1,850,000.00

Dividends 36,000.00

Wages Expense 2,950,000.00

Utilities Expense 82,000.00

Rent Expense 390,000.00

Supplies Expense 23,700.00

Insurance Expense 18,000.00

Miscellaneous Expense 30,200.00

TOTAL $6,500,000.00

CREDIT SIDE

Notes Payable 75,000.00

Accounts Payable 118,600.00

Unearned rent 12,000.00

Common stock 150,000.00

Retained Earnings 1,814,400.00

Fees Earned 4,330,000.00

TOTAL $6,500,000.00

CASH will be the balancing figure since the total of both Debit and Credit columns of trial balance must equal.

Therefore the Unadjusted trial balance be:

Debit side $6,500,000.00

Credit side $6,500,000.00

8 0
2 years ago
Which of these statements about pipeline inventory is best? A. Changing an item's lot size does not directly affect the average
Eddi Din [679]

Answer: Changing an item's lot size does not directly affect the average level of the pipeline inventory.

6 0
2 years ago
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