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MATERIAL CONTROL
It is said that "any fool can sell"—it is buying at the right price that is more critical to the achievement of a satisfactory return on capital employed. Buying price is important of course, but buying the right materials, is equally important if production targets are to be achieved and investment in inventories to be minimized.What to order:
This is governed by product specifications, but an efficient buyer will always have his ear to the ground to discover new and substitute materials and components of advantageous quality and price. Other economies can be realized by reducing the variety of materials purchased by standardization, e.g. reducing the variety of colors of paint stocked, or by introducing value analysis into the decision process.
Funded debt to total capitalization ratio The ratio establishes a link among the long term funds raised from outsider and total long term funds available in the business. The
static budget
Gardner Manufacturing Company produces a product that sells for $120. A selling commission of 10% of the selling price is paid on each unit sold. Variable manufacturing costs are $
Explain the terms - Cost object and Activities Cost object : it is an item for which cost measurement is required for example a product or a customer. Activities: these c
importance of ratio analysis
Conditions necessary in a control cycle There are four necessary conditions that must be satisfied before any system can be said to be controlled. Such are as follows: (1) O
Project C would involve a current outlay of $50,000 on equipment and $15,000 on working capital. The investment in working capital would be increased to $21,000 at the end of the f
Interest coverage ratio (or debt service ratio) Meaning: this ratio establishes a relationship among net profits before interest and taxes and interest on long debt. Obj
prepare all budgets
Production As you would suspect, effectively directing an organization needs prudent management of production. Because this is a hands-on process, and often entails dealing wit
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