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Explain the terms - maintenance and improvement
Maintenance; under the maintenance function, the management must first establish policies rules directives and standard operating procedures (SOPs)and then work towards ensuring that everybody follows sop the latter is achieved through a combination of discipline and human resource development measures.
Improvement: under the improvement function management works continuously towards revising the current standers once they have been mastered and establishing higher once improvement cab be broken down between innovation and kaizen. Innovation involves a deasic improvement in the existing process and requires large investments. Kaizen signifies small improvement as a result of coordinated continuous efforts by all employees.
Explain Zero bases budgeting According to David humdinger According to David humdinger, ZBB is a management tool which provides a systematic method for evaluating all operation
Echeverria SA is an Argentinian manufacturing company whose total factory overhead costs fluctuate somewhat from year to year according to the number of machine-hours worked in its
Let a quarry's cost function of producing Q tons of stone per hour be given by TC = Q 3 - 10Q 2 + 40Q + 25, so that marginal cost function is MC= 3Q 2 - 20Q + 40. (i) Find th
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Cyclic Chains: In Markov Chains the current state of the system depends on all previous states. It is a stochastic process. Sometimes transition probability matrices are diff
Once the credit information is accumulated the subsequent step is to analyze the gathered information and isolate those matters that may need further investigation. The factors whi
How might a company use regression results to manage overhead costs?
Determine the Scope and areas of cost reduction Scope and areas of cost reduction the scope of cost reduction is so wide that it is not practicable to develop fully the areas i
1. Calculate the manufacturing costs for the year. 2. Prepare a statement of cost of goods manufactured. 3. Prepare an income statement (assume an income tax 25%)
Compute the ending balance in the Work in Process inventory account. Assume that this balance consists entirely of goods started during the year. If $32,200 of this balance is dire
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