The following dataset contains the number of defects found on each of 12 randomlychosen bicycle frames manufactured by Luigi Bikes Inc. over a period of two weeks:57159198161695710Construct a histogram in order to present the quality manager of Luigi Bikes Inc. with agraphical representation of the data.(4)

Here is the histogram depicting the defects found on 12 randomly selected bicycle frames made by…

Answered: The following dataset contains the…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Michael's Pottery makes decorative garden pieces using three consecutive processes: Moulding, Baking & Spraying. Quality control check takes place during the process, at which point, rejected units are separated from good units. The following details relate to production for the month of October 2020, for the Baking Department. i) Work-in-process, October 1: -0- ii) Transfer from Moulding: 2,000 units valued at $336.40 each iii) Other manufacturing costs incurred during October: Direct material added $202,120 Direct Manufacturing Wages $212,840 Manufacturing Overhead Applied $306,160 iv) Normal losses are estimated to be 5% of the units transferred in during the period. Losses from the Baking Department are deemed to be scrap and sold at $382 each. v) At inspection 300 decorative pieces were rejected as scrap. These units had reached the following degree of completion: From Moulding 100% Direct material added 40% Conversion costs 12%% vi) 1,200 pieces were completed and transferred out…
Noora Company manufactures quality hair care product. The ingredients are combined in themixing department and put in 16-ounce containers in the packaging department. Thefollowing information pertains to the mixing department for the month of May 2021: Noora Company had used the weighted-average method.Required:(a) Develop a physical flow schedule for the mixing department for the month of May. (b) Calculate the equivalent units of production for materials and conversion of the mixingdepartment for the month of May.
State the journal entries necessary to record the assignment of direct materials, direct manufacturing wages and manufacturing overhead applied to the Baking Department. Also, give the journal entries to record the cost of goods completed and transferred to the Spraying Department.
The abnormal spoilage is 300 units and the cost per equivalent unit is $2 for direct materials and $3 for conversion. The inspection point is at the end of processing. There are 600 units in ending Work-in-Process and normal spoilage is 200 units. What are the equivalent units for material and conversion using the weighted -average method and the FIFO method? Please provide an explanation of the calculation.
Figure 11-2 Owens Ltd. produces specially machined parts. The parts are produced in batches in one continuous manufacturing process. Each part is custom produced and requires special engineering design activity (based on customer specifications). Once the design is completed, the equipment can be set up for batch production. Once the batch is completed, a sample is taken and inspected to see if the parts are within the tolerances allowed. Thus, the manufacturing process has four activities: engineering, setups, machining, and inspecting. In addition, there is a sustaining process with two activities: providing utilities (plantwide) and providing space. Costs have been assigned to each activity using direct tracing and resource drivers: Engineering £1,000,000Setups 900,000Machining 2,000,000Inspection 800,000Providing space 250,000Providing utilities 180,000 Activity drivers for each activity have been identified and their practical capacities listed: Machine hours 25,000Setups…
Christmas Express makes wreaths in batch sizes of 23. The cutting and assembly process takes 4 minutes per wreath, and the decorating process time is 12 minutes per wreath. It takes minutes to move the wreaths from the cutting and assembly process to the decorating process. a. Compute the value-added, non-value-added, and total lead times of the wreath process. Value-added lead time Non-value-added lead time: Move time Within-batch wait time minutes Total lead time b. Compute the value-added ratio. Round to one decimal place. % minutes
The following data shows the results for 20 students in one of the post graduate unit.42 66 67 71 78 62 61 76 71 6761 64 61 54 83 63 68 69 81 53Based on the information given you are required toCompute the mean, median and mode.
Michael’s Pottery makes decorative garden pieces using three consecutive processes: Moulding, Baking & Spraying. Quality control check takes place during the process, at which point, rejected units are separated from good units. The following details relate to production for the month of October 2020, for the Baking Department. Work-in-process, October 1: -0- Transfer from Moulding: 2,000 units valued at $336.40 each Other manufacturing costs incurred during October: Direct material added Direct Manufacturing Wages Manufacturing Overhead Applied $202,120 $212,840 $306,160 Normal losses are estimated to be 5% of the units transferred in during the period. Losses from the Baking Department are deemed to be scrap and sold at $382 each. At inspection 300 decorative pieces were rejected as scrap. These units had reached the following degree of completion: From Moulding 100% Direct material added 40% Conversion costs 12½% 1,200 pieces were completed and transferred out to the…
The Early Pearly Company makes product for lovers only in two departments: Forming and Scenting. Forming began the month with 500 products for lovers only in process that were 100% complete as to material and 40% complete as to conversion. During the month, 6,500 products only for lovers were started. At month end, Forming had 2,100 products for lovers only that were still in process that were 100% complete as to material and 50% complete as to conversion. Assume Forming uses the weighted average method of process costing. Costs in the Forming Department are as follows: Beginning Work in process costs: Material P1,000 Conversion 1,500 Current Costs: Material P3,200 Conversion 5,045 The Scenting Department had 600…
Christmas Express makes wreaths in batch sizes of 14. The cutting and assembly process takes 6 minutes per wreath, and the decorating process time is 15 minutes per wreath. It takes 6 minutes to move the wreaths from the cutting and assembly process to the decorating process. a. Compute the value-added, non-value-added, and total lead times of the wreath process. Value-added lead time fill in the blank 1 minutes Non-value-added lead time: Move time fill in the blank 2 Within-batch wait time fill in the blank 3 Total lead time fill in the blank 4 minutes b. Compute the value-added ratio. Round to one decimal place.fill in the blank 5 %
Brightmore Corporation manufactures three styles of lighting fixtures using five sequential operations. Within each operation, regardless of the style of fixture produced, the same procedures are used to perform that operation (so that time and costs are the same). All direct materials are added for each batch at the beginning of the operation for that batch. During June, 1,500 units of Style A, 500 units of Style B, and 1,000 units of Style C were started in the first operation; all were completed and transferred to the second operation, except 500 units of Style C which were 60% complete as to conversion costs. There was no work in process on June 1. Following are production costs for June: Direct Labor $18,000 Overhead 10,000 Direct Materials: Style A 20,000 Style B 10,000 Style C 30.000 Total Costs $88,000 Required: 1. Compute the total cost of work completed and transferred to the second operation in June for each of the three styles of lighting fixtures produced. 2. Compute the…
Christmas Express makes wreaths in batch sizes of 16. The cutting and assembly process takes 3 minutes per wreath, and the decorating process time is 14 minutes per wreath. It takes 6 minutes to move the wreaths from the cutting and assembly process to the decorating process. a. Compute the value-added, non-value-added, and total lead times of the wreath process. Value-added lead time minutes Non-value-added lead time: Move time Within-batch wait time Total lead time minutes b. Compute the value-added ratio. Round to one decimal place.

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