000=$100‚000 In its December 31‚ 2013‚ balance sheet‚ Rigsby would report In 2013‚ Rigsby would recognize realized gross profit of: entry at December 31‚ 2013? Gross profit % = ($4‚500‚000-3‚600‚000)/$4‚500‚000=20% 2013:20%x$500‚000=$100‚000In 2014‚ Rigsby would recognize realized gross profitof:Grossprofit%=($4‚500‚000-3‚600‚000)/$4‚500‚000=20%2013:20%x$500‚000=$100‚0002014:20%x[($4‚500‚000-500‚000)/2]= $400‚000 In its December 31‚ 2013‚ balance sheet‚ Rigsby would report: At December 31
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is referred to as the a. stand alone concept. b. monetary unit assumption. c. economic entity assumption. d. corporate form of ownership 2. All of the financial statements are for a period of time except the a. income statement. b. balance sheet c. owner’s equity statement. d. statement of cash flows 3. A trial balance will not balance if a. a journal entry is posted twice. b. a wrong amount is used in journalizing. c. incorrect account titles are used in journalizing. d. a journal
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Riordan Manufacturing is a global plastics manufacturer that employs 550 people. It is a wholly owned subsidiary of Riordan Manufacturing Industries which has earnings of more than $1 billion. The company is headquartered in San Jose‚ California‚ and has facilities worldwide. The mission of Riordan Manufacturing is to ensure that it remains an industry leader in the plastic manufacturing business and provides solutions to the existing customer base while expanding. The company will achieve this
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Google+Search Functions and Activities of Operations Management August 11th‚ 2009Leave a commentGo to comments Operations management involves the management of human‚technology and system resources.The operations management functions‚like in other management disciplines‚ include planning‚directing‚organizing‚staffing‚motivating and controlling to achieve the set organizational goals. In addition to the above management functions operation managers perform many other activities as given
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Factory Office 1‚500 500Rent Factory Office 5‚000 2‚500Commission to Salesman 1‚250Advertising 1‚250Income Tax 10‚000 Sales1‚89‚500Q1. Prepare the cost sheet Q 2 Prepare a cost sheet for the year ended March 31‚2009 Stock of finished goods ( April 1‚ 2008) 6‚000Stock of raw materials (April 1‚ 2008) 40‚000Work in Progress (April 1‚ 2008) 15‚000Purchase of raw Material 4‚75‚000Carriage inwards 12‚500Factory rent
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DDJ 3003 : MANUFACTURING PROCESSES CHAPTER 1 : INTRODUCTION MANUFACTURING - derived from Latin It is converting raw materials into Products using machinery and operations through a well-organized plan It has the function of adding value. Discrete or Continuous products 1. DEFINITION OF MANUFACTURING 1. The application of physical and chemical processes to alter the geometry‚ properties‚ and/or appearance of a given starting material to make parts or products. 2. The transformation of
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Advantages of Lean Manufacturing 1. Reduce in Waste Lean manufacturing refers to the techniques‚ processes and strategies taken by organizations all over the world in order to reduce unproductive and useless tasks‚ functions and behaviors in work environment. It helps to reduce operational costs and aims to boost‚ reinstate and raise the competitiveness of an organization. There are seven types of waste within the work environment which lean manufacturing strives to reduce‚ if not remove totally
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departments‚ they can vary widely from industry to industry. 1. Reciprocal relations: when a company deliberately buys as much as possible from its own customers it is said to practice reciprocity. 2. New materials and products: engineering and manufacturing managers are always interested in new products and materials that will help them more efficiently and there by achieve one of their objectives. 3. Economic make or buy: make or buy decisions are generally made by committees consisting of departmental
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6935 OPERATIONS MANAGEMENT UNIVERSITY OF BALLARAT SCHOOL OF BUSINESS MIT CAMPUS‚Melbourne. Individual Assignment Word Count: 1798 LECTURER:- DR. Maria Mullin TUTOR:- DR. Maria Mullin Student Name Kalani Swarnamalee Jayathunga UB 30079319 Executive Summary: The Following report explained about “Cargills (Ceylon) PLC”‚ the biggest producer and retailer of foods in Sri Lanka. Specially discussed about the five objectives of the operations management
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DSME 2030 Operations Management Introduction to Operations Management Sean Zhou CUHK Business School CUHK DSME 2030 Page 1 Why is so Successful? Founded in 1971‚ based in Memphis‚ Tennessee‚ with $44.3 billion annual revenue in 2013 Serve 220 countries and regions‚ 300 thousand employees Deliver 3.4 million packages daily with 654 planes and 43‚000 trucks Multiple divisions/operating units: FedEx Express‚ FedEx Ground‚ FedEx Freight‚ FedEx Services Fast and reliable On-time
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