Banks create money when they:

What inventory management procedure helps a firm to control inventory costs?.

lyudmila [28]

Just-in-time (JIT) inventory management is the procedure which helps a firm to control inventory costs.

<h3>What is Inventory?</h3>

These are the goods and services which a company hold for the purpose of resale or production.

Just-in-time (JIT) inventory management helps companies to control inventory costs because raw materials are supplied according to production schedule thereby reducing risks such as dead stock etc.

Read more about Inventory here brainly.com/question/24868116

6 0

3 years ago

Read 2 more answers

The approach to cost management that calls for setting cost reduction goals across numerous stages such as product introduction,

guapka [62]

A. Life cycle cost management:)

5 0

4 years ago

The following data from the just completed year are taken from the accounting records of Mason Company: Sales$658,000 Direct lab

Alex_Xolod [135]

Answer:

1. Prepare a schedule of cost of goods manufactured

schedule of cost of goods manufactured

Direct labor cost $83,000

Raw Materials $133,000

Manufacturing overhead $202,000

Add Beginning Work In Process $5,900

Less Ending Work In Process ($20,500)

cost of goods manufactured $403,400

2. Prepare a schedule of cost of goods sold

schedule of cost of goods sold

Begining Finished goods $74,000

Add cost of goods manufactured $403,400

Less Ending Finished goods ($25,100)

Add Under- Applied Overheads $22,000

cost of goods sold $473,300

3. Prepare an income statement.

Sales $658,000

Less cost of goods sold ($473,300)

Gross Profit $184,700

Less Operating Expenses

Selling expenses ($106,000)

Administrative expenses ($46,000)

Net Income $ 32,700

Explanation:

1. Prepare a schedule of cost of goods manufactured

Raw Materials Consumed in Production

Begining Raw Materials Inventory $8,800

Add Raw material purchases $135,000

Less Ending Raw Materials Inventory ($10,800)

Raw Materials Consumed in Production $133,000

schedule of cost of goods manufactured

Direct labor cost $83,000

Raw Materials $133,000

Manufacturing overhead $202,000

Add Beginning Work In Process $5,900

Less Ending Work In Process ($20,500)

cost of goods manufactured $403,400

2. Prepare a schedule of cost of goods sold

Actual manufacturing overhead costs ($224,000) > Applied Manufacturing overhead($202,000)

Under- Applied Overheads

Applied Manufacturing overhead $202,000

Actual manufacturing overhead costs $224,000

Under- Applied Overheads $22,000

schedule of cost of goods sold

Begining Finished goods $74,000

Add cost of goods manufactured $403,400

Less Ending Finished goods ($25,100)

Add Under- Applied Overheads $22,000

cost of goods sold $473,300

3. Prepare an income statement.

Sales $658,000

Less cost of goods sold ($473,300)

Gross Profit $184,700

Less Operating Expenses

Selling expenses ($106,000)

Administrative expenses ($46,000)

Net Income $ 32,700

6 0

4 years ago

How long after your tax return is accepted do you get it.

irakobra [83]

Should be 21 days but that is not all the time!

8 0

3 years ago

Read 2 more answers

Funds are Scarce, so -------- are needed to re-build homes destroyed by the food.

Eddi Din [679]

The correct answer that would best complete the given statement above would be the second option. Funds are Scarce, so VOLUNTEERS are needed to re-build homes destroyed by the flood. Volunteers include those people who are willing to help and give support without asking in return or be paid, given that the funds are already scarce. Hope this helps.

8 0

4 years ago