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Lila Battle has determined that the annual demand for number 6 screws is 100,000 screws. Lila, who works in her brother's hardware shop, is in charge of purchasing. She estimates that it costs $10 each time an order is placed. This cost contains her wages, the cost of the forms used in placing the order, and so on. Moreover , she estimates that the cost of carrying 1 screw in inventory for a year is one-half of 1 cent. Suppose that the demand is constant throughout the year.
(a) How many number 6 screws should Lila order at a time if she wishes to decrease total inventory cost?
(b) How many orders per year would be placed? What would the yearly ordering cost be?
(c) What would the average inventory be? What would the yearly holding cost be
Suggestion system The suggestion system is as integral part of an established management system that aims at involving employees in kaizen. The number of worker s suggestion i
Traditional budgeting vs. zero base budgeting 1) Traditional budgeting is accounting oriented. Main stress happens to be on previous level of expenditure. Zero base budgeting m
Under this method, approximated profit is calculated depends on transactions of the ensuing period. Afterward, decrease or increase in working capital is determined adjusting the e
what does it mean by improving materials usage in an organization?
Cash budget is a detailed budget of income and cash expenditure including both capital and revenue items. For control reasons the year's budget is usually phased in smaller periods
full explaination with diagram
Costing Cost accounting can be described as the collection, interpretation of cost and assignment. In succeeding chapters, you will learn about alternative costing techniq
Problem: Fancy Foods Ltd uses a standard costing system to control its material and labour costs. The standard costs for January 2007 were as follows. Standard Costs Materi
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