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polet [3.4K]
2 years ago
13

The following information is available for Elliot Company.

Business
1 answer:
jeka942 years ago
7 0

Answer:

The cost of goods manufactured is $557,300

Explanation:

In order to calculate the cost of goods manufactured we would have to make the following calculation:

cost of goods manufactured=Work in process inventory 1/1+Total manufacturing costs-Work in process 12/31

Work in process inventory 1/1)= $13,500

Total manufacturing costs=Direct materials used+Direct labor+Manufacturing overhead

Total manufacturing costs=166000+220000+180000=$566,000  

Work in process 12/31=$22,200

Cost of goods manufactured=$13,500 +$566,000  -$22,200

Cost of goods manufactured= $557,300

The cost of goods manufactured is $557,300

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Answer:

Whether the technology provides benefits and responds to customers needs

Explanation:

Technological innovation can be defined as the introduction of new technical products and services or improving an existing ones.

One major reason for this is to address human needs and better serve individual . Therefore whenever any firm wants to launch any new product , it is important that it must create a balance between what is technically possible and whether the new technology provides benefits and responds to customers needs.

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2 years ago
Explain the five steps of the theory of constraints (TOC) process. To what processes might the company in the case study apply T
irga5000 [103]

Explanation:

The theory of constraints (TOC) is a theory whose objective is to identify the most limiting constraint related to a systemic organizational process, that is, to identify the bottleneck that prevents an organization from carrying out its activities effectively and consequently achieving its objectives.

The steps are:

1- Identify: The first step is to identify the most limiting current constraint in the organization.

2- Exploit: In the exploit stage, it means making improvements with the resources available in the identified constraint.

3- Subordinate: In this stage, the review of other organizational activities that may interfere with the identified constraint is carried out, to identify whether there is how to make improvements in the subordinate activities that can guarantee the reduction of the constraint.

4- Elevate: In this stage, actions are implemented to eliminate the constraint if it has not yet been eliminated.

5- Repeat: In the last step, each step of the cycle is monitored so that there is continuous improvement in the elimination of the current constraint or a new constraint, so that the processes are constantly optimized.

TOC is effective in companies that use systemic production processes, as in a manufacture for example, whose stages of the production process are subordinate and one interferes in the quality of the other, which can interfere in the process as a whole.

The theory of constraint offers the continuous improvement of all processes and the elimination of current restrictions and the better identification of possible new restrictions, as well as the best use of organizational resources, which generates for the company greater profitability, less waste and less time delivery, improving the entire organizational process.

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2 years ago
Using these data from the comparative balance sheet of Sunta Fe Spice Company, perform horizontal analysis. (Round percentages t
frozen [14]

Answer:

75000,25%;

18000, 30%.

420000, 15%.

Explanation:

From the question above we are given the following parameters Accounts receivable for year 2017 = $ 375,000,

Inventory for the year 2017 = 780,000 and the Total assets for the year 2017 = 3,220,000.

Accounts receivable for year 2016 = $ 300,000, inventory for the year 2016 = 600,000 and the Total assets for the year 2016 = 2,800,000.

Therefore, we have the following simple arithmetic(which is subtraction between the variables in the two years) to determine the solution to the question:

(375,000 - 300,000) = 75,000 = 25%(increase).

(780,000 - 600,000) = 180,000 = 30%(Increase).

(3,220,000 - 2,800,00) = 420,000 = 15%(increase).

8 0
2 years ago
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Imagine that Eveready has developed solar rechargeable batteries that cost only slightly more to produce than the rechargeable b
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Answer: Moderately slow introduction, followed by modest growth, gradually leveling off

Explanation:

The product life cycle is the time a product takes from the introduction stage to the decline stage when it's off the market.

Based on the above scenario, the product life cycle of this product will be moderately slow introduction, followed by modest growth, gradually leveling.

This is because since it's a new product, there will be a slow introduction as people will just be getting used to the product, then as customers begin to buy the product and it's brand becomes known, there'll be a modest growth before it levels off.

8 0
2 years ago
Total quality management (tqm) emphasizes all but which one of the following?a. Team-based work design and the creation of a tot
Sindrei [870]

Answer:

c. Involvement and empowerment of employees at all levels

Explanation:

Total quality management refers to managing the organization in order to develop a success in the long run by considering the low level workers to the high level executive, and at the same time focused on quality improvement and the customer satisfaction

Here are the following points to become important for an organization

1. Quality improvement, management leads to long term success for organization and customers

2. The deficiencies could be determined by performing the work and can be corrected through providing the training, education, etc

3. If the product contains high quality that meet the needs of the customers than it would lead to high customer satifaction

4. And, in case if there is few defective product so the company is in a position to save the cost

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