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3 years ago

What lean concept relates to eliminating non-value-added steps and waste in product storage processes?

Business

1 answer:

Effectus [21]3 years ago

5 0

Answer:

Just in time (JIT) inventory management system

Explanation:

The JIT inventory management system was developed by Toyota in Japan. JIT tries to decrease production costs by lowering inventory costs and increasing efficiency by reducing wastes.

Some of the main advantages of JIT are:

Productivity increase
Waste elimination
Higher product quality

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Erastic Company has $14,000 in cash, $8,000 in marketable securities, $34,000 in account receivable, $40,000 in inventories, and

rosijanka [135]

Answer:

1.33

Explanation:

Data provided in the question:

Cash = $14,000

Marketable securities = $8,000

Account receivable = $34,000

Current liabilities = $42,000

Now,

Acid Test Ratio

= (Cash + Marketable securities + Account receivable) ÷ Current Liabilities

= ( $14,000 + $8,000 + $34,000 ) ÷ $42,000

= $56,000 ÷ $42,000

= 1.33

8 0

3 years ago

What describes the overall aims of a buiness organization?

ElenaW [278]

Answer:

The answer is Mission statement.

Explanation:

A mission statement of an organization describes the overall aims of a business organization. Every company has its two statements, one is the mission statement and other is the vision statement. Vision statement describes the vision of the company, where as mission statement describes the overall goals of the organization. It gives information about the type of product it provides, its target market, its potential customers, the region where it is operated, etc. So the mission statement is the one which describes the overall aims of a business organization.

6 0

3 years ago

Playtown Corporation purchased 75 percent of Sandbox Corporation common stock and 40 percent of its preferred stock on January 1

Nesterboy [21]

Answer:

Elimination Journal.

Retained Earnings $210,000 (debit)

Common Stock $ 150,000 (debit)

Investment in Sandbox Corporation $270,000 (credit)

Non-Controlling Interest $90,000 (credit)

Explanation:

When dealing with consolidation of Financial Statements, the Equity and Retained Earning in the Subsidiary has to be eliminated from the records whilst the Investment in Subsidiary and the Non-Controlling Interest in Subsidiary are recognized.

Elimination of the common items in consolidation is done by the use of Pro-forma Journals.

Goodwill or Gain on Bargain Purchase are also recognized on the date of acquisition of subsidiary.

Goodwill is the excess of Purchase Price and Non-Controlling interest over the Net Assets Acquired.While Gain on Bargain Purchase is the excess of Net Assets Acquired over Purchase Price and Non-Controlling interest.

Elimination Journal.

Retained Earnings $210,000 (debit)

Common Stock $ 150,000 (debit)

Investment in Sandbox Corporation $270,000 (credit)

Non-Controlling Interest $90,000 (credit)

8 0

4 years ago

Describe the factors that determine the amount you ultimately pay for borrowing money. How is it possible to reduce the amount y

Gnesinka [82]

It is by interest. You can reduce the amount you pay, by paying more. You can either go ahead and pay it all off, or pay extra when it is time to make a payment.

5 0

3 years ago

Read 2 more answers

The anticipated purchase of a fixed asset for $400,000, with a useful life of 5 years and no residual value, is expected to yiel

Evgesh-ka [11]

The answer is a.True
The cost of the fixed asset is already excluded from the net income. In this case, the rate of return can be computed by the total net income divided by the cost of the fixed asset. So that would be $200,000/$400,000. The rate of return would be 50%

6 0

3 years ago