Bowling Ball Company (BBBC) uses a job-order costing system to accumulate manufacturing costs. The company’s work-in-process on December 31‚ 20x3‚ consisted of one job (no. 3088)‚ which was carried on the year-end balance sheet at $78‚400. There was no finished-goods inventory on this date. BBBC applies manufacturing overhead to production on the basis of direct-labor cost. Budgeted totals for 20x4 for direct labor and manufacturing overhead are $2‚100‚000 and $2‚730‚000‚ respectively. Actual results
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FINANCIAL RATIOS Financial ratios are indicators of a company’s performance as discernable from the company’s Balance Sheet and income Statement. We will discuss some of the simple ratios of a company and talk about their significance. Liquidity Ratios: Show the company’s ability to pay of its current liabilities from its current assets. 1. Current Ratio Current assets should be significantly higher than current liabilities so that the current ratio is higher than 2:1. 2. Quick Ratio
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Computer-aided manufacturing (CAM) is the use of computer software to control machine tools and related machinery in the manufacturing of workpieces.[1][2][3][4][5] This is not the only definition for CAM‚ but it is the most common;[1] CAM may also refer to the use of a computer to assist in all operations of a manufacturing plant‚ including planning‚ management‚ transportation and storage.[6][7] Its primary purpose is to create a faster production process and components and tooling with more precise
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Manufacturing and Service Technologies technology refers to the work processes‚ techniques‚ machines‚ and actions used to transform organizational inputs into outputs. One important theme in this chapter is how core technology influences organization structure. Understanding core technology provides insight into how an organization can be structured for efficient performance. Core technology is the work process that is directly related to the organization’s mission. A non-core technology is a department
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times fall‚ quality improves and costs shrink. The methodology that an increasing number of companies are using to accomplish such a business strategy is the implementation of the Toyota Production System (TPS)‚ also called lean manufacturing. Lean Manufacturing is best defined as a management philosophy that focuses on reducing waste in all business processes. Although it originates from a time when the Toyota of today was a manufacturer of power looms‚ in its modern form‚ lean was pioneered
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TABLE OF CONTENTS INTRODUCTION 3 MANAGERIAL FINANCE: 3 FINANCIAL STATEMENTS ANALYSIS: 3 RATIO ANALYSIS: 3 FAUJI CEMENT BALANCE SHEET AND PROFIT AND LOSS ACCOUNT 4 RATIO ANALYSIS: 9 INTRODUCTION MANAGERIAL FINANCE: • Managerial finance is concerned with the duties of the financial manager in the business firm. • The financial manager actively manages the financial affairs of any type of business‚ whether private or public‚ large or small‚ profit-seeking or not-for-profit
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Operation Management’s Group Discussion Question 1: Consider the two categories of products that Timbuk2 makes and sells. For the custom messenger bag‚ what are the key competitive dimensions that are driving sales? Are their competitive priorities different for the new laptop bags sourced in China? “Timbuk2 is more than a bag; it is more than a brand…” If you have an opportunity to go to the web site www.timbuk2.com‚ you will find out something… Timbuk2 is so different‚ so unique. I think you
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direct labor hours would be worked and $1‚300‚000 of manufacturing overhead costs would be incurred. During the year‚ the company actually worked 24‚000 direct labor hours and incurred the following manufacturing costs: Direct materials used in production $1‚240‚000 Direct labor 1‚800‚000 Indirect labor 280‚000 Indirect materials 220‚000 Insurance 150‚000 Utilities 190‚000 Repairs and Maintentance 180‚000 Depreciation 320‚000 Required: 1. Calculate the predetermined overhead application rate for the
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Class Manufacturing Is… A position of international manufacturing excellence‚ achieved by developing a culture based on factors such as continuous improvement‚ problem prevention‚ zero defect tolerance‚ customer-driven just-in-time production‚ and total quality management The capability of a manufacturer to compete with any other manufacturing organization in a chosen market‚ with the aspiration of achieving world-beating standards in all organizational aspects. World class manufacturing encompasses
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| Assignment Two Salary Inequities at ACME Manufacturing | Human Resource Management | | The case study of Salary Inequality within
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