On a production report, labor and overhead costs are often added together and called conversion costs. Select one: True False
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On a production report, labor and overhead costs are often added together and called conversion costs.
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- Complete the level production plan, using the following information. The only costs you need to consider here are layoff, hiring, and inventory costs. If you complete the plan correctly, your hiring, layoff, and inventory costs should match those given here. Month Forecasted salesMarch 1,539April 1,422May 1,162June 934July 1,427August 2,089September 2,575October 2,564November 3,023December 3,017January 2,552February 2,104Standard Costing; Variance Analysis; Strategic Considerations In a Wall Street Journalarticle, the author notes that various retailers in the United States (e.g., Meijer, Gap, and OfficeDepot) are turning to consulting firms, such as Accenture, to develop engineered labor standards forcashiers and other retail workers. Monitoring labor-hour consumption (i.e., labor efficiency) undersuch standards involves timing from the first scan of an item in a customer’s purchase to the production of a sales receipt for the customer. A commentator for Meijer states that the system now in usehas enabled the company to more efficiently staff stores while concomitantly increasing customerservice ratings. A representative from another client of Accenture states that the new system allowsthe retailer to determine how many workers to schedule at a given time, resulting in a labor-costreduction of approximately 8%. Engineered standards were developed many years ago in a manufacturing environment, at…The fixed and the variable costs to produce an item are given along with the price at which an item is sold. How many items must be sold to breal-even? Fixed cost: $330,000 Variable cost per item: $5 Price at which the item is sold: $60
- The Betterbilt Construction Company designs and builds residential mobile homes. Thecompany is ready to construct, in sequence, 16 new homes of 2,400 square feet each. Thesuccessful bid for the construction materials in the first home is $64,800, or $27 per square foot.The purchasing manager believes that several actions can be taken to reduce material costs by8% each time the number of homes constructed doubles. Based on this information,a. What is the estimated cumulative average material cost per square foot for the first fivehomes?b. What is the estimated material cost per square foot for the last (16th) home?Which is not considered to be an OPSCM execution process by any of the most popular models? Select one: A. returns B. manufacturing/production/make C. logistics D. procurement/acquisition/purchasing E. research & developmentMany competitive programs contain two phases: research and development, and production. Production profits far exceed R&D profits. The company that wins the R&D contract normally becomes a favorite for the production contract, as well as for any follow-on work. How can the dollar figures attached to follow-on work influence the cost package that you submit for the R&D phase? Would your answer change if the man-hours submitted for the R&D phase become the basis for the production phase?
- Mikey W. Smitty, an emerging rapper, is getting ready to cut his first CD, called “Western Rap.” The cost of record-ing the CD is $5000 but copies are $5 apiece. If the CDs can be sold for $15 each, how many CDs must be sold tobreak even? What is the breakeven point in dollars?6-4. Mikey W. Smitty is confident that demand for his “Westernjust do the estimation product part and i will do the report about it, and please pick something easy to expainThe following information relates to a company’s aggregate production planning activities: Quarter Demand Forecast 1 75,000 2 100,000 3 75,000 4 125,000 Beginning Workforce = 35 workers Production per Employee = 1,250 units per quarter Hiring Cost = $500 per worker Firing Cost = $1,000 per worker Inventory Carrying Cost = $20 per unit per quarter If a level production strategy is used then the cost of the level production plan (inventory costs plus hiring and firing costs) is a) $20,000. b) $645,000. c) $1,250,000. d) $1,270,000. Answer: d Pls explain with steps
- The original weight given is 1.00, whereas the finished product is 1.25. So what is the final product yield? Based on what you have stated, the given were opposite.True or False Cost driver analysis is a comprehensive understanding of how an organization generates output. It involves a determination of which activities that use resources are value adding or non-value adding and how the latter may be reduced or eliminated.The basic objective of the purchasing function is: Select one: To procure the raw materials at the highest quality. To increase the sales and reduce the cost of the final product. To provide required inputs materials and reduce the cost of the final product. To procure the raw materials at the lowest price.