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3 years ago

Lopez Corporation incurred the following costs while manufacturing its product.

Business

1 answer:

grandymaker [24]3 years ago

8 0

Answer:

$358,150

Explanation:

Cost of goods manufactured is calculated in a Schedule of Manufacturing Costs as follows :

Cost of goods manufactured = Beginning Work In Process + Total Manufacturing Costs - Ending Work In Process

where,

Total Manufacturing Costs :

Materials used in product $124,260

Depreciation on plant $69,650

Property taxes on plant $21,750

Labor costs of assembly-line $120,570

Factory supplies used $25,810

Total $362,040

therefore,

Cost of goods manufactured = $13,700 + $362,040 - $17,590 = $358,150

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As part of its commitment to quality, the J. J. Borden manufacturing company is proposing to introduce just-in-time (JIT) produc

Kobotan [32]

Answer:

A. $74,100 $954,700

B. $880,600

Explanation:

A. Preparation to estimate the financial benefits associated with the adoption of JIT

Current situation After JIT

Sales 1,430,000 1,810,000

Less costs

Production level support 214,500 72,400

(15%*1,430,000=214,500)

(4%*1,810,000=72,400)

Variable manufacturing overhead 400,400 181,000

(28%*1,430,000=400,400)

(10%*1,810,000=181,000)

Direct material 429,000 362,000

(30%*1,430,000=429,000)

(20%*1,810,000=362,000)

Direct manufacturing labor 286,000 235,300

(20%*1,430,000=286,000)

(13%*1,810,000=235,300)

Inventory financing costs 26,000 4,600

(10%*260,000=26,000)

(10%*46,000=4,600)

Total costs 1,355,900 855,300

Operating profits $74,100 $954,700

(1,430,000-1,355,900)

(1,810,000-855,300)

Therefore the the financial benefits associated with the adoption of JIT will be $74,100 $954,700

B. Preparation for the estimated change in annual operating income attributable to the JIT implementation

Current situation After JIT Change

Sales 1,430,000-1,810,000=-380,000

Less costs

Production level support 214,500-72,400 =142,100

Variable manufacturing overhead 400,400 -181,000=219,400

Direct material 429,000-362,000=67,000

Direct manufacturing labor 286,000- 235,300= 50,700

Inventory financing costs 26,000-4,600 =21,400

Total costs 1,355,900-855,300=500,600

Operating profits 74,100-954,700=880,600

Therefore the estimated change in annual operating income attributable to the JIT implementation will be 880,600

8 0

3 years ago

Alberto is working with a group of fifteen people to coordinate the merger of two corporations. Everyone in the group is highly

TEA [102]

Answer:

decrease the size of the group

4 0

3 years ago

Suppose that a company needs 1,500,000 items during a year and that preparation for each production run costs $900. Suppose also

elena-s [515]

Answer:

30,000 units

Explanation:

According to the inventory cost model, the production run size that minimizes costs is given by:

$P = \sqrt{\frac{2*D*S}{H}}$

Where D is the annual demand (1,500,000 items), S is the cost of each production run ($900) and H is the holding cost per unit ($3). Applying the given data:

$P = \sqrt{\frac{2*1,500,000*900}{3}}\\P=30,000\ units$

Each production run should consist of 30,000 units.

7 0

3 years ago

Assume that the U.S. population is 300 million. If 70 million individuals are legally classified as unable to work (or are less

Step2247 [10]

Answer: Option (E) is correct.

Explanation:

Given that,

U.S. population = 300 million

Individuals classified as unable to work = 70 million

Individuals classified as unwilling to work = 80 million

Unemployed = 14 million

Labor force = U.S. population - Individuals classified as unable to work - Individuals classified as unwilling to work

= 300 million - 70 million - 80 million

= 150 million

Unemployment rate = $\frac{Unemployed}{Labor\ force} \times100$

= $\frac{14}{150} \times100$

= 9.3%

3 0

4 years ago

Hello guys I'm Filipino

zlopas [31]

Answer: Nice, today is my birthday :D

Explanation:

I’m mexican :)

4 0

2 years ago

Read 2 more answers