Describe the costs that would be affected by implementing a just in time system.

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Answer 1

Question

Chapter 2, Problem 2MC

1.

To determine

Describe the costs that would be affected by implementing a just in time system.

2.

To determine

Describe whether the customer of P Company would reap benefits from the change to the just in time system.

3.

To determine

Describe whether Mr. V will have to make any changes in accounting inventory under just in time system.

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4. ABG produces and sells a single product at the price of 20 euros. During its first year of operation (20X7), the company had no initial stocks. The production cost of a product unit is as follows: Variable production cost of 8 euros per unit. Fixed production cost 9,600 euros. Also, the company has fixed sales expenses of 5,400 euros. In the first year of operation, the company had budgeted that it would produce and sell 3,200 units of product. In fact, during the period production and sales amounted to 3,200 units of product. Requested: To calculate the operating result of the company for the first year of its operation using absorption and marginal costing. Calculate the operating result of the company for the first year of its operation using absorption and marginal costing, assuming that sales for the period amounted to 2,700 units and 500 units remained as final inventory. What is the value of the final inventory of stocks with both costing techniques in this case?

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Answer 2

Question

Chapter 2, Problem 2MC

1.

To determine

Describe the costs that would be affected by implementing a just in time system.

2.

To determine

Describe whether the customer of P Company would reap benefits from the change to the just in time system.

3.

To determine

Describe whether Mr. V will have to make any changes in accounting inventory under just in time system.

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Answer 3

Question

Chapter 2, Problem 2MC

1.

To determine

Describe the costs that would be affected by implementing a just in time system.

2.

To determine

Describe whether the customer of P Company would reap benefits from the change to the just in time system.

3.

To determine

Describe whether Mr. V will have to make any changes in accounting inventory under just in time system.

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Answer 4

Question

Chapter 2, Problem 2MC

1.

To determine

Describe the costs that would be affected by implementing a just in time system.

2.

To determine

Describe whether the customer of P Company would reap benefits from the change to the just in time system.

3.

To determine

Describe whether Mr. V will have to make any changes in accounting inventory under just in time system.

Expert Solution & Answer

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Answer 5

Chapter 2, Problem 2MC

1.

To determine

Describe the costs that would be affected by implementing a just in time system.

2.

To determine

Describe whether the customer of P Company would reap benefits from the change to the just in time system.

3.

To determine

Describe whether Mr. V will have to make any changes in accounting inventory under just in time system.

Answer 6

Chapter 2, Problem 2MC

1.

To determine

Describe the costs that would be affected by implementing a just in time system.

Answer 7

Chapter 2, Problem 2MC

1.

To determine

Describe the costs that would be affected by implementing a just in time system.

Answer 8

2.

To determine

Describe whether the customer of P Company would reap benefits from the change to the just in time system.

Answer 9

2.

To determine

Describe whether the customer of P Company would reap benefits from the change to the just in time system.

Answer 10

3.

To determine

Describe whether Mr. V will have to make any changes in accounting inventory under just in time system.

Answer 11

3.

To determine

Describe whether Mr. V will have to make any changes in accounting inventory under just in time system.

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 2 - What are the two major objectives of materials...Ch. 2 - Prob. 2Q Ch. 2 - What factors should management consider when...Ch. 2 - Prob. 4Q Ch. 2 - What kind of information and data are needed to...Ch. 2 - How would you define the term economic order...Ch. 2 - What kind of information and data are needed to...Ch. 2 - What factors should be considered when determining...Ch. 2 - Prob. 9Q Ch. 2 - Prob. 10Q

Describe the costs that would be affected by implementing a just in time system.

Describe the costs that would be affected by implementing a just in time system.

Describe whether the customer of P Company would reap benefits from the change to the just in time system.

Describe whether Mr. V will have to make any changes in accounting inventory under just in time system.

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