The cycle of money where it results to profits for business
and salaries for workers are when we pay money for the services or things that
we buy and this ends when we receive the items and services we need. Cash
conversion is also another term for this cycle.
FALSE. Pay down the credit card, 100%, FIRST because it's probably the most expensive credit you have. Don't put things on the credit card that you won't be able to pay for this month.
Just-in-time production is a highly coordinated activity that delivers goods or services when they are needed.
Just-in-time management is a philosophy, not a method. If the "customer" is the eventual consumer of the product or a process further along the production line, the term originally referred to the manufacturing of goods to precisely fulfill customer demand in time, quality, and quantity.
By minimising the time and resources needed for production operations, JIT increases productivity. More rapid product production is possible thanks to manufacturers.
This simplified strategy can save costs and boost productivity while things are going as usual, but it is vulnerable to changes in supply and demand. JIT production can make manufacturers unable to meet demand when global supply networks are interrupted for a variety of reasons, deepening an economic downturn.
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96,000 is the cost of goods sold.
Beginning inventory, $30,000;
Add: Purchases, $90,000.
Less: Ending inventory $24,000;
Cost of Goods Sold $96,000
Cost of Goods Sold is the number of direct materials, direct labor, and manufacturing overhead charged to the units sold during the period. Presented as a deduction from net sales to obtain gross margin for the period. The cost of goods sold is the total amount paid by a company for expenses directly related to the sale of its products. Depending on the business, this may include direct labor associated with manufacturing or selling products, raw materials, packaging, and merchandise purchased for resale purposes.
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