Fixing a problem will often cost money; to minimize these costs it is best to find and fix the problem-<u> just before we begin the first production operation.</u>
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Explanation:
Before we begin with any operational production function it is necessary to check the proper functioning of the machinery.If the machinery used for the production of the products have any defect then the cost of production increase leading to an overall increase in the production cost of the product.
Thus it is an important mandate to check the operational functionality of the machinery's which are involved in the production .It is advisable to find and fix the problem at the earliest ,so that the cost incurred can be minimized
Hence we can say that Fixing a problem will often cost money; to minimize these costs it is best to find and fix the problem-<u> just before we begin the first production operation.</u>
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Answer: EOQ = 575.38 units ≈ 575 units
Annual holding cost =$862.5 ≈ $863
annual ordering cost=$863.65 ≈ $864
Explanation:
a)the EOQ for the workbooks=
= =
= 575.38 units ≈ 575 units
b)the annual holding costs for the workbooks
Annual holding cost = Economic order quantity x Holding cost /2
= (575 x 3)/2=$862.5 ≈ $863
c) the annual ordering costs = Demand X Ordering cost/ EOQ
= 19,100 x 26/575
=$863.65 ≈ $864
Answer:
The gross profit under percentage-of-completion method is $180000 for the year ended 31st December 2017 as shown in the attached.
Explanation:
The formula for calculating gross profit under percentage-of-completion method is given as
Gross profit =costs incurred to date/total contract costs*contract total gross profit
Costs incurred to date =$800000
Total costs =$2000000
Hence gross profit % is =800000/2000000
=40%
As a result 40% of the total gross profit of $450000 is due to be recognized now.
Find the attached for detailed computations.
The answer is the Treaty of Rome. The treaty of Rome was established to create a certain establishment between the European countries. In this treaty, they were able to create single markets for products and labor. They were able to create policies that had benefitted the agricultural sectors of the European Union as well as lessen the burden of transporting goods from one destination to another