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One item a computer store sells is supplied by a vendor who handles only that item. Demand for that item recently changed, and the store manager must determine when to replenish it. The manager wants a probability of at least 96 percent of not having a stockout during lead time. The manager expects demand to average a dozen units a day and have a standard deviation of 2 units a day. Lead time is variable, averaging four days with a standard deviation of one day. Assume normality and that seasonality is not a factor. When should the manager reorder to achieve the desired probability?
Managers need financial information to help them make decisions, communicate important information about their organization, and demonstrate fiscal responsibility to stakeholders.
cost accounting as a descriptive/analytical discipline
STANDARD COSTING STANDARD COSTING is a method, which uses standards for costs and revenues for the idea of control by variance analysis. It can be used either through operation
Bakeson Bearings Ltd is preparing to submit a bid for a bearings order. Janet Lake, CEO of the Manufacturing Division, has asked Jason Docker, the management accountant, to prepa
what is the meaning or definition of cost objective?
Accounts Payable or sundry creditors are generally unsecured debts owed through the firm. These are also considered to as payables on open accounts. They may not be evidenced throu
Question: At the beginning of the year, Asquith Company Ltd initiated a quality improvement program. The program was successful in reducing scrap and rework costs. To help asse
given the following : Constant $21,800 Std.error of Y Est. 4,500 R squared 0.7832 Observations # 22 X coefficient 11.75 Std.error of Coef.
The basic principles of standard costing and variance analysis may be adapted to the needs of relatively new methods of accounting such as activity-based cost
Ask q6) The Net Sales revenue reported is derived from the sale of products. Each year Findley records from cash sells, sells on account and completed purchase orders. During 2016
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