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How much has the WIP been reduced ?

How much has the WIP been reduced ?

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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How much has the WIP been reduced ?
Arms and Armour's new operations manager has redesigned the process to make the Beowulf sword. With the new process it takes 8 hours for each Beowulf to be made. Using the old Beowulf process, it took 15 hours to make a sword. The process makes one swords each hour, on average, and each Beowulf sword is worth $1,500. How much has the WIP been reduced? Reduction in WIP ook
Transcribed Image Text:Arms and Armour's new operations manager has redesigned the process to make the Beowulf sword. With the new process it takes 8 hours for each Beowulf to be made. Using the old Beowulf process, it took 15 hours to make a sword. The process makes one swords each hour, on average, and each Beowulf sword is worth $1,500. How much has the WIP been reduced? Reduction in WIP ook
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WIP: It is the Work in Process which means that a product which is not finished its and waiting for the completion.

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