Manufacturing uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2010, Job No. 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $20,000, direct labor $12,000, and manufacturing overhead $16,000. As of January 1, Job No. 49 had been completed at a cost of $90,000 and was part of finished goods inventory. There was a $15,000 balance in the Raw Materials Inventory account. During the
Words: 947 - Pages: 4
figure out what this change means to MARS Inc. in terms of transportation cost, inventory and storage costs, and continue the enforcement of MARS INC.’s implementation of lean manufacturing. Case Study Questions 1. What were MARS total costs per year prior to the new price structure when the diesel engine price was $4,800? Was Mars’s using the EOQ method? The total yearly cost for warehousing is $1215. The total yearly cost per unit based on the sheet given by the Portland supplier is $11,280
Words: 826 - Pages: 4
cash but 25.1% account receivables. When people buy tickets they normally pay online by using credit card, so an airline company would have very little cash. Railroad—Data 4 There is no inventory in this set of data. Railroad is a kind of company which has no inventory since it is just there and no inventory is needed. Also, cash has a high percentage 31.8% among all current assets. People driving pass one railroad would normally pay cash instead of using card. Pharmaceutical—Data 7 This set
Words: 959 - Pages: 4
Tiffany S. Williams, MBA 06/01/2012 My Mentor: Megan Murphy Houston, Texas- Central Standard Time Task 1 Supply Chain Management Simulation Analysis (B): With utilizing the pro-forma balance sheets revealed that I did not use the correct approach. My overall market share for traveler was around 94% however in the workhorse line my overall market share was only around 42%. I made a decision to invest $500.000 into a certificate of deposit which proved to be disastrous. I only opened
Words: 6226 - Pages: 25
I. Investments | | | | | | | | | | | | | | | | | | | | | | | | January 1, 2006 | | Bonds Investment (Available for Sale) | | $322,744.44 | | | | | | Cash | | | | | | | | $ 322,744.44 | | | | Purchases Bonds for Cash (Available for Sale) | | | | | | | | | | | | | | | | | | December 31, 2007 | | Cash | | | | | | $36,000.00 | | | | | | Interest Revenue | | | | | | $36,000.00 | | | | Received
Words: 791 - Pages: 4
Here are the resources I use from internet. http://www.improvemybusiness.com.au/improve-cash-flow/professional-services/cash-inflow-cash-outflow-managing-your-business-cash-flow http://www.csun.edu/~hfact004/inventory_cost_flow_assumptions.htm Ideally, a company will have more money flowing into the business than out. Businesses sell products and services to generate income. Generally, the most common sources of cash for a company are: payment for goods or services from customers, receipt of
Words: 1712 - Pages: 7
balances and July 31, 2012, Budgeted amounts for Oleans.com: a. June 30 inventory balance, $17,750 b. July payments for inventory, $4,300 c. July payments of accounts payable and accrued liabilities, $8,200 d. June 30 accounts payable balance, $10,600 e. June 30 furniture and fixtures balance, $34,500; accumulated depreciation balance, $29,830 f. June 30 equity, $28,360 g. July depreciation expense, $900 h. Cost of goods sold, 50% of sales i. Other July expenses, including income tax
Words: 1868 - Pages: 8
To understand fully the client’s (MTI) business and risks, PEST (political, economical, social, and technological) model and Porters Five Forces model should be used. For political factors, MTI imports 40% of their inventory from countries like Europe that are usually highly regulated due to differing requirements in safety standard for imported goods. On top of that, there are significantly different taxes and tariffs imposed on goods from different countries and these may change due to different
Words: 1335 - Pages: 6
PRODUCTION PLANNING AND CONTROL Assignment A Marks 10 Answer all questions. 1. a) Explain the forecasting process? What are the techniques for monitoring forecasts? b) Explain various forecasting models. a) A planning tool that helps management in its attempts to cope with the uncertainty of the future, relying mainly on data from the past and present and analysis of trends. Forecasting starts with certain assumptions based
Words: 3903 - Pages: 16
Under the periodic inventory system, the opening stock is accounted as an asset and purchases are accounted as expense. The closing stock is accounted as an asset and is determined based on physical count. Basically, the periodic inventory system is designed to maintain updated figures in both the inventory and cost of goods sold accounts. Separate subsidiary ledger accounts show the balance for each type of inventory so that the company can manage the size and types of merchandise (Littlehale, 2010)
Words: 322 - Pages: 2
