:Work in progress 4000 Purchase of material 110000 Material – At the beginning of the year 3000 * At the end of the year 4000 Direct labour 65000 Factory overhead 60% of the direct labour cost Inventory at the end of the year: Work in progress 6000 : Finished goods 8000 Other expenses: Selling expenses 10 % of sales and administrative expenses 5% of sales . Answer – 224000 2. Prepare a cost sheet and cost per unit Raw materials consumed Rs. 200000 Direct wages
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7. Materials Conversion Units completed and transferred out (all units are 100% complete with respect to materials) 190,000 190,000 Work in Process, March 31: Materials: 60,000 X 100% 60,000 Conversion: 60,000 X 30% 18,000
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large and small retailers and both urban and resort retailers. RECOMMENDATION #3. Decrease lead times for both raw materials and finished goods, thereby allowing more time to utilize existing capacity. Since the business strategy should emphasize Dependability more than Cost, lead-times can be reduced using some or all of the following methods: Choose suppliers of raw materials more on the basis of D than C. Expedite orders through information sharing with suppliers. Expedite shipments using
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They prepare accounts, e.g. invoices, management accounts, financial accounts for shareholders and inland revenue Preparing wages and salaries Obtaining capital and resources, e.g. money for expansion or to pay for such as equipment and materials. |Marketing professionals determine the products that their companies introduce to the marketplace, often using marketing research surveys to determine what consumers need and want. The marketing department determines the right distribution
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Loren Case Study 02/11/2015 Chris Ray Background Information. Brent Miller is the raw material buyer at Loren Inc. He needs to speak with representatives from four suppliers about raw material quotations. Then discuss the situations with his superior, Mr. Williams. Following this discussion he must make recommendation for Loren’s annual hexonic acid requirements. Key Issues * Loren expected to use approximate 3,000 tons of hexonic acid in the following year * A single bid policy
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president. It was organized by commodity lines and Brent Miller was appointed as a raw material buyer reporting to the manager of the chemical buying group. His tasked is to select the desired suppliers that would supply Hexonic Acid to the company.Brent is very much aware that Hexonic Acid is a major raw material in most Loren products and this will not be an easy task for him. The company’s requirements to this raw material had grown steadily over the years and were expected to remain significant in the
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because eggshell is quickly decomposed in the compost pile and add valueable calcium and other minerals to the soil in the process. It can be use as a non toxic material for garden purposes and you can make powder the eggshell to less bitterness of coffee. We the researcher as prove the study in natural materials produced a non toxic substances product that can be utilized in every day life without harmful effect ouer body. B. STATEMENT OF THE PROBLEM
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variance | Raw materials | | | | | Oct | £6000 | £5,700 | £300 favourable | They could’ve found a cheaper supplier or there may be a drop in sales | Nov | £8000 | £8,100 | £100 adverse | They may have overspent on raw materials or made more sales meaning they needed to use more electricity and raw materials | Dec | £8000 | £8,500 | £500 adverse | They may have overspent on raw materials or made more sales meaning they needed to use more electricity and raw materials | Item | Budget
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Changing the importance of the three sectors 1. What are the 3 sectors of business activity? There are three sectors and they are: • The Primary Sector- this is the sector where raw materials are collected for example, farming, fishing and mining. • The Secondary Sector- In this sector the raw materials are manufactured and turned into a selling product, for example making a plastic bottle from oil. • The Tertiary Sector- this is the retail sector where the manufactured products are sold but
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become the leading inventor of raw materials in the country. David, himself was able to recover the mismanagement of the company under Rafael Buenaventura. In 1988, the American principal offered his plans to David of GPC engaging in the contract manufacturing of pharmaceutical products for both domestic and export markets. The proposed project was to compound locally all products that it will manufacture and sell, importing only the active ingredients and bulk materials that is unable to produce locally
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