Bundle: Managerial Accounting, 14th + Cengagenowv2, 1 Term Printed Access Card
Bundle: Managerial Accounting, 14th + Cengagenowv2, 1 Term Printed Access Card
14th Edition
ISBN: 9781337499989
Author: Carl Warren, James M. Reeve, Jonathan Duchac
Publisher: Cengage Learning
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Chapter 12, Problem 6E
To determine

Lead Time: Lead time is the time consumed for the creation of a product. It refers to the time period between the time the order is placed and the product is completed. Lesser lead time creates a more competitive edge for the company.

Lead Time = Wait time + Process time + Queue time + Move time + Inspection Time

Value added activities: The value added activities are the activities which add to the value of a product.

Non value added activities: The non value added activities are the activities which a customer may think unnecessary and tend to reduce the value of a product.

The value added, non-value added activities and total lead time, and the value added ratio under the traditional and lean manufacturing method.

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