weighted-average method is: | Student Answer: The same as the number of units put into production. | 2. | Question : | (TCO F) Process costing would be appropriate for each of the following except: | Student Answer: custom furniture manufacturing. | 3. | Question : | (TCO F) Which of the following accounts is debited when direct labor is recorded? Student Answer: Work in process | | 4. | Question : | (TCO F) During December at Ingrim Corporation‚ $74‚000 of raw materials
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possibly one of the most interesting manufacturing revolution where companies involved in the production are integrated not only in their business processes moreover in their physical plants. The concept has been successfully developed and implemented in Valencia‚ Spain and is due to be adopted in other Ford production plants. The case study clearly shows how companies can work together in a harmonic and synchronised system meeting probably the most idealistic manufacturing principles (JIT) to produce the
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TABLE OF CONTENT 1. MERCHANDISING BUSINESS a. Examples b. New Account on Income Statement c. Income Statement of Merchandising Business 2. DIFFERENCE: MERCHANDISING‚ MANUFACTURING & SERVICE RENDERING BUSINESS a. Service Business b. Merchandise Business c. Manufacturing Business 3. RECORDING SYSTEM OF MERCHANDISING BUSINESS a. Perpetual Inventory System i. Journal Entries 1. Purchases 2. Sales 3. Inventory Shrinkage Loss b. Periodic Inventory System i. Journal Entries 1. Purchases
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Study unit 8.2 Global manufacturing and materials management 8.2.1 Importance of strategy‚ management and logistics a. Production: * Activities involved in creating a product * Applies to service and manufacturing activities b. Logistics: * Activity that controls the transmission of physical materials through the value chain (procurement -> production -> distribution) * Linked to production – firm’s ability to perform production
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1. Why should manufacturing companies build smart products and provide smart services? What business benefits can be gained? Provide several examples beyond those discussed in this case? In business‚ “Smart” means solving problems fast and efficiently. For manufacturing companies‚ decreasing the cost‚ increasing the profit and expanding the market are the benefits they can obtain. If manufacturing companies can develop smart products or smart services‚ they can gain those benefits
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direct materials‚ direct labor and manufacturing overhead. In terms of differences‚ they are different in the way how the overhead costs are allocated. For conventional costing‚ it assigns manufacturing overhead based on a single volume based cost driver such as direct labour hours. In contrast‚ ABC approaches cost from the perspective that products do not cause costs. It requires activities which are the causes of all costs incurred so it allocates manufacturing overhead according to the activities
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assess the growth of the automobile industry in India‚ and to discuss some of the advantages and disadvantages of manufacturing automobiles on a large scale in this region. As the car manufacturing industry in this region grows‚ it is important to understand why companies would be attracted to this region‚ and what can be done to attract even more companies‚ making the manufacturing process more equitable for all involved. The advantages of both Nissan and Hyundai investing in the same region are
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sound‚ heat and vibration. The economic development has higher and higher requirement for the technical level of the crushing equipment‚ so that many crusher manufacturing companies in China is conforming to the tide of the time and shifting from technical introduction to independent innovation. As a professional crushing equipment manufacturing company in China‚ vipeak thinks that mining machinery industry is an industry integrated with technology‚ capital and labor. In recent years‚ The fast development
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materials $5‚033‚600 $228.80 $2‚569‚600 $642.40 Direct manufacturing labour a 435‚600 19.80 184‚800 46.20 Machine costs b 3‚484‚800 158.40 316‚800 79.20 Total direct costs $8‚954‚000 $407.00 $3‚071‚200 $767.80 Manufacturing overhead costs c $4‚840‚000 $220.00 $440‚000 $110.00 Total cost of goods sold $13‚794‚000 $627.00 $3‚511‚200 $877.80 a Mammoth requires 1.5 hours per unit and Maximum requires 3.5 hours per unit. The direct manufacturing labour cost is $13.20 per hour. b Machine costs include
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Riordan Manufacturing Service Request SR-rm-022 part 2 BSA/375 Ty Bauer Service Request SR-rm-022 part 2 In part one of the Riordan Manufacturing Service Request we discussed Hugh McCauley and his request to take advantage of the more sophisticated state-of-the- art information systems that are implemented in the Riordan Manufacturing department. This week we will discuss the application architecture‚ process design‚ and security controls that are recommended for the design of the Riordan
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