Not use ai please Which of the following statements is true?1. When materials are purchased in a process costing system, a work in process account is debited with the cost of the materials2. The units in beginning work in process Inventory plus the units started into production must equal the units transferred out of the department plusthe units in ending work in process Inventory.Multiple ChoiceOStatement 1 is true.OStatement 2 is true.ОBoth statements are true.ОNeither statement is true.

Explanation: In the given case, we are provided with two statements and we are required to analyze…

Answered: Which of the following statements is…

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter7: Proudction Costs

Section: Chapter Questions

Problem 8SQP

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Ottis, Inc., uses 640,000 plastic housing units each year in its production of paper shredders. The cost of placing an order is $30. The cost of holding one unit of inventory for one year is $15.00. Currently, Ottis places 160 orders of 4,000 plastic housing units per year. Compute the economic order quantity. Compute the ordering, carrying, and total costs for the EOQ. How much money does using the EOQ policy save the company over the policy of purchasing 4,000 plastic housing units per order?
Upgrading an Organization’s ComputersYour organization earns $50 million in annual sales, has 500 employees, andplans to acquire 250 new mobile computers this year along with another 250next year. The goal is to issue every employee a company-owned computer,which they can use at work and at home. The computers will be loaded withantivirus software and productivity software to meet each employee’s business needs. Your organization has decided it will purchase the computersfrom the same manufacturer to obtain a quantity purchase discount. To theextent possible, the goal is to have the same hardware and software foreveryone to simplify the troubleshooting and support of the computers. Thechief financial officer has asked you to lead a project team to define users’computer hardware needs and recommend the most cost-effective solutionfor meeting those needs. Critical Thinking Questions1. Who else (role, department) and how many people would you select to bea member of the team? How would…
7 8 Part 3: Economic Ordering Quantity 9 1. Calculate the company's EOQ for Engine Valve A1100 (make sure to link values to the other tabs): 10 11 Estimated Annual Sales this year: 12 Ordering cost for each order: 13 Carrying Cost per unit 14 15 EOQ: 16 units units 17 2. Complete the table below by linking to the appropriate cells in the other tabs: 18 19 Order Size Total Total Carrying Cost Ordering Cost 24 20 21 28 29 30 22222222223 25 26 5 10 20 50 100 27 3. Create a graph of both the Carrying and Ordering cost. Make sure your EOQ ties to where the two lines cross. Rename your Chart to: Cost of Ordering & Carrying Inventory L
Inventory Management -- Class Work Sheet (CW-14) Q. 14. Jean-Marie Bourjolly's restaurant has the following inventory items that it orders on a weckly hai .. a) Which is the most expensive item, using annual dollar volume? b) Which are C items based on annual dollar volume? c) What is the annual dollar volume for all 20 items? SValue #Ordered per Week 52 week $ Total % of inventory Cumulative Imventory 5 Inventory Item per Case Item no Rank Васon Chickens Eggs (case) Fish filets French fries Garlic powder Lettuce (case) Lobster tail Napkins Oil Order pads Pasta Pepper Prime rib Rib eye steak Salt Sugar Tablecloths Tomato sauce Trashcan liners 56 75 22 143 43 11 2. 3. 14 7. 10 32 35 245 12 28 12 23 8. 6. 2 10 11 12 13 14 15 16 17 18 19 20 166 135 4. 32
a. A contractor, Susan Meyer, has to haul gravel to three building sites. She can purchase as much as 18 tons at a gravel pit in the north of the city and 14 tons at one in the south. She needs 10, 5, and 10 tons at sites 1, 2, and 3, respectively. The purchase price per ton at each gravel pit and the hauling cost per ton are given in the table below. Susan wishes to determine how much to haul from each pit to each site to minimize the total cost for purchasing and hauling gravel. Pit North South Hauling Cost per Ton at Site 1 2 3 $30 $60 $60 $30 $50 $40 Price per Ton $100 $120 Now suppose that trucks (and their drivers) need to be hired to do the hauling, where each truck can only be used to haul gravel from a single pit to a single site. Each truck can haul 5 tons, and the cost per truck is five times the hauling cost per ton given above. Only full trucks would be used to supply each site. Reformulate this assignment problem as an equivalent transportation problem with two sources…
Which of the following related to Transfer payment? O Pocket money to children All the above о wear and tear cost Payment made to housewife Next
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The Calhoun Textile Mill is in the process of deciding on a production schedule. It wishesto know how to weave the various fabrics it will produce during the coming quarter. Thesales department has confirmed orders for each of the 15 fabrics produced by Calhoun.These demands are given in the following table. Also given in this table is the variablecost for each fabric. The mill operates continuously during the quarter: 13 weeks, 7 daysa week, and 24 hours a day.There are two types of looms: dobbie and regular. Dobbie looms can be used to makeall fabrics and are the only looms that can weave certain fabrics, such as plaids. The rateof production for each fabric on each type of loom is also given in the table. Note that ifthe production rate is zero, the fabric cannot be woven on that type of loom. Also, if afabric can be woven on each type of loom, then the production rates are equal. Calhounhas 90 regular looms and 15 dobbie looms. For this problem, assume the time requirementto change…
Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Metters Cabinets, Inc., needs to choose a production method for its new office shelf, the Maxistand. To help accomplish this, the firm has gathered the following production cost data: Variable costs (per unit) ($) Process type Annualized fixed cost labor material energy Of plant & equip. Intermittent $1,000,000 24 26 20 Mass customization $1,190,000 30 18 12 Repetitive $1,385,000 28 15 11 Continuous $1,660,000 25 15 10 Determine the most economical…
Please see the attached two pictures, one for the graph, and the other for the questions.
Output from a process contains 0.02 defective unit. Defective units that go undetectedinto i nal assemblies cost $25 each to replace. An inspection process, which would detectand remove all defectives, can be established to test these units. However, the inspector,who can test 20 units per hour, is paid $8 per hour, including fringe benei ts. Should aninspection station be established to test all units?a. What is the cost to inspect each unit?b. What is the benei t (or loss) from the inspection process?

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