report of a company. Lets us know that how to looking for what the inventory had included. For example is this company inventory had included Raw Material‚ Work- in- Process and also Finish Goods. We also can know how this company arranges their stock by using first in first out (FIFO) method or Weighted Average Cost (WAC) method. Our group had chosen HUP SENG Industries BERHAD to support us in assignment. HUP SENG Industries BERHAD established in 1958‚ it had become the most quality biscuit manufacturing
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its inventory levels and increased inventory turnover across the entire retail chains. This will result in reduction in holding and carrying cost. Operational expenses are reduced with planning for procurement‚ manufacturing‚ and transportation. Better order‚ product and execution tracking has lead to improvements in performance and quality - and lower costs. Question 2.Why has Inditex chosen to have both in-house manufacturing and outsourced manufacturing? Why has Inditex maintained manufacturing
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product. Raw materials costs are $40 per product. Direct labor costs are expected to be $30 per product. You expect to sell each product for $110. You plan to produce 100 products next month and expect to sell 90 products. A. Prepare cost of production‚ cost of goods sold‚ and inventories schedules for next (the first) month. B. During the second month‚ you plan to produce 110 products but expect sales in the month to be 115 products. Prepare cost of production‚ cost of goods sold‚ and inventories
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1. Reduce the number of SKUs offered to retailers 2. Insist that retailers order a minimum number of mattresses corresponding to the batch size for each model for which they placed an order 3. Reduce the safety stock requirement for the finished mattresses 4. Relocate the manufacturing to a cheaper overseas location 5. Reconfigure its product design‚ manufacturing‚ and order fulfillment to improve operations Recommendation The root cause of Four Star’s problems is that they have
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Problem One Cost Concepts and Cost Flow (8 points) The following information is from MM wooden bed Co. for September: Wood used in production Carpenters salary Factory supervisors salary Factory security guard and janitor salary Sales persons salary CEO and CFO salary Advertisement expense Depreciation of factory equipment Factory utilities Oil and lubricants for factory equipment‚ and other miscellaneous materials used in production Wood inventory‚ Sept. 1 Work-in-process inventory
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sales to regular customers a. Direct manuf labor - $10 b. Variable manuf overhead - $15 c. Fixed manuf overhead - $30 i. Total manuf costs - $105 Per unit cost when producing ANSWER: $85 2. Selected info regarding a company’s most recent quarter follows: a. Op expenses $700 b. Gross profit $2390 c. Sales rev $4000 d. End finished goods inventory $300 e. Cost of goods manuf $1200 ANSWER: $710 3. selected financial info for Brookeville manuf is presented in the following table a. sales rev $4k b
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Overhead Allocation Overview In many businesses‚ the cost of overhead is substantially greater than direct costs‚ so the cost accountant must expend considerable attention on the proper method of allocating overhead to inventory. There are two types of overhead‚ which are administrative overhead and manufacturing overhead. Administrative overhead includes those costs not involved in the development or production of goods or services‚ such as the costs of front office administration and sales; this is
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Gross and Net profit Gross profit A company’s revenue‚ minus the business’ costs of goods For example: If I sold 5000 cheese sandwiches for £1 each my total revenue would be 50 x £1 = £5000 It costs 25p per sandwich to purchase bread‚ butter and cheese. My gross profit = Revenue – Costs of sales (25p x 5000= £1250.00) = £3750.00 Net profit The business’ gross profit minus expenses For example: My gross profit from my sandwiches is £3750.00 to calculate my Net profit I need to minus
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inventories in the United States other than grain are valued at the lower of cost‚ using the last-in‚ first-out (LIFO) method‚ or market. Grain inventories and all related cash contracts and derivatives are valued at market with all net changes in value recorded in earnings currently. Inventories outside of the United States are valued at the lower of cost‚ using the first-in‚ first-out (FIFO) method‚ or market. Shipping costs associated
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in the ordinary course of business * Less estimated cost of completion * Less estimated cost to sell Fair value is: * The amount for which an asset could be exchanged‚ or a liability settled‚ * Between knowledgeable willing parties‚ in an arm’s length transaction. If the entity runs a retail business‚ then the inventory is generally called merchandise. A manufacturing business will generally call its inventory finished goods; work in process and raw materials. Inventory movement
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