Imagine you own a small business that makes toy trains and toy cars in the same factory. The production manager'ssalary is a manufacturing overhead cost. Provide two specific ways you could allocate this person's salary to the toytrains and toy cars.

As in this case, the production manager salary is equal to the manufacturing overhead cost we divide…

Answered: Imagine you own a small business that…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

See similar textbooks

Similar questions

A company is composed of 5 cost centers. Using the information given below, estimate the total product cost for 75 products. Material cost for each unit is estimated to be $2000. Direct labor cost is $417000. Direct Labor Hours is 112000. Overhead Rate = $25.92.
An organization was capable of manufacturing or purchasing all the components needed to produce a finished product or device.
In determining whether a job order cost or a cost method should be used in any given manufacturing situation, there are various factors to consider.
Explain when companies are likely to use a job costing system or a process costing system. Provideexamples.
please answer all parts of the question within 30 minutes with detailed explanation. Make sure calculation form part of the answer and are in details for better understanding. If calculations are not shown or are poorly done i will surely give negative ratings.
14
Why might Avion want to reduce the lead times on its purchased materials and components?
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.
Business Process is a defined sequence of business activities that use resources to transform specific inputs into specific outputs to achieve a business goal. Explain business process documentation showing its importance
In conducting interviews and observing factory operations to implement an activity-based costing system, you determine that several activities are unnecessary or redundant. For example, warehouse personnel were inspecting purchased components as they were received at the loading dock. Later that day, the components were inspected again on the shop floor before being installed in the final product. Both of these activities caused costs to be incurred but were not adding value to the product. If you include this observation in your report, one or more employees who perform inspections will likely lose their jobs. Required 1. As a plant employee, what is your responsibility to report your findings to superiors? 2. Should you attempt to determine if the redundancy is justified? Explain. 3. What is your responsibility to the employees whose jobs will likely be lost by your report? 4. What facts should you consider before making your decision to report or not?
TRUE OR FALSE Production requirements and quantities should be determined based on the exact number of machines and material necessary for fabrication.
Assistance please

SEE MORE QUESTIONS

Recommended textbooks for you

Understanding Business

Management

ISBN:

9781259929434

Author:

William Nickels

Publisher:

McGraw-Hill Education

Management (14th Edition)

Management

ISBN:

9780134527604

Author:

Stephen P. Robbins, Mary A. Coulter

Publisher:

PEARSON

Spreadsheet Modeling & Decision Analysis: A Pract…

Management

ISBN:

9781305947412

Author:

Cliff Ragsdale

Publisher:

Cengage Learning

Understanding Business

Management

ISBN:

9781259929434

Author:

William Nickels

Publisher:

McGraw-Hill Education

Management (14th Edition)

Management

ISBN:

9780134527604

Author:

Stephen P. Robbins, Mary A. Coulter

Publisher:

PEARSON

Spreadsheet Modeling & Decision Analysis: A Pract…

Management

ISBN:

9781305947412

Author:

Cliff Ragsdale

Publisher:

Cengage Learning

Management Information Systems: Managing The Digi…

Management

ISBN:

9780135191798

Author:

Kenneth C. Laudon, Jane P. Laudon

Publisher:

PEARSON

Business Essentials (12th Edition) (What's New in…

Management

ISBN:

9780134728391

Author:

Ronald J. Ebert, Ricky W. Griffin

Publisher:

PEARSON

Fundamentals of Management (10th Edition)

Management

ISBN:

9780134237473

Author:

Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo

Publisher:

PEARSON

SEE MORE TEXTBOOKS

Imagine you own a small business that makes toy trains and toy cars in the same factory. The production manager's salary is a manufacturing overhead cost. Provide two specific ways you could allocate this person's salary to the toy trains and toy cars.