What is the reduction in work-in-process value

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Reference no: EM133993224

Questions:

1) A firm has redesigned its production process so that it now takes 10 hours for a unit to be made. Using the old process, it took 15 hours to make a unit. If the process makes one unit each hour on average and each unit is worth $1,500.

What is the reduction in work-in-process value?

2) Is certification under the ISO standards necessary for competing in the modern market? What should companies consider when deciding whether to become certified?

3) Provide an example of ISO certification of an organization, and how it has been helpful or not helpful in competing with other organizations.

Reference no: EM133993224

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