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Gutierrez Porcelain Inc. manufactures vases. The vases are manufactured only after a purchase order is received. During the current year, the company manufactured and sold 11,600 vases, which represents an average level of sales. It sells to 100 stores with each order averaging 50 vases at a time. Vases take an average of 15 minutes to manufacture, and the machine that produces the vases has an annual capacity to run 4,000 hours. What is the average wait time for production?
Wait time to the start of production 5.0 days, Delivery Cycle time 18 days, Move time 3.0 days, Inspection time 2.5 days, Queue Time during the production process 3.5 days.
ACCT567 Case Study I (Week 2), Prepare closing entries.Prepare a General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance for the year ended June 30, 2012. Prepare a General Fund Balance Sheet as of June 30, 2012.
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The total premium for each policy was paid in full (for all months) at the purchase date, and the Prepaid Insurance account was debited for the full cost. (Year-end adjusting entries for Prepaid Insurance were properly recorded in all prior years...
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