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What else can I help you with?
What costs are involved in owning a house?
the costs involved are cable, plumbing, lighting, and morgage bills
What does the EOQ formula tell us What assumption is made about the usage rate for inventory?
The EOQ or economic order point tells us at what size order point we will minimize the overall inventory costs to the firm, with specific attention to inventory ordering costs and inventory carrying costs. It does not directly tell us the average size of inventory on hand and we must determine this as a separate calculation. It is generally assumed, however, that inventory will be used up at a constant rate over time, going from the order size to zero and then back again. Thus, average inventory is half the order size.
How is the cost of goods manufactured determined?
Beginning work in process inventory + total manufacturing costs incurred - ending work in process inventory
Do I have to calculate Cost of Goods Sold if the business uses the Cash acounting system?
Costs of goods sold are a type of expense and although the total may vary between the accrual and cash basis' of accounting, the method of calculating them is the same. Beginning Inventory + Purchases - Ending Inventory = Costs of Goods Sold. If you have no beginning or ending inventory (because you're using the cash basis)... you just add the purchases and applicable expenses. Some of which might be: direct materials and supplies, energy costs, freight, direct labor costs, etc.
Is an Explanation of Benefits a bill?
No, an Explanation of Benefits (EOB) is not a bill. It is a document sent by a health insurance company to explain the costs and payments related to a medical service or treatment.
What are the various costs involved in an inventory problem?
Ordering cost carrying cost shortage cost
Which of these costs are involved in Inventory Modeling?
All of these: Unit purchasing costs, Holding costs, and Ordering and setup costs.
What are the various elements of costs associated with inventory decisions?
The cost which are associated with the inventory are: 1) Procurement cact 2) Ordering cost 3) Carrying cost
What report demonstrates that the inventory general ledger account reconciles to the inventory costs?
no
Costs that are treated as assets until the product is sold are called?
Costs that are treated as assets until the product is sold are called product costs. The costs are added to the inventory, and the expense is recognized when the inventory is purchased.
What is influenced by the costs involved?
Which of these is influenced by the costs involved
How do inventory management techiniques reduce inventory costs?
By making the process efficient and accurate.
What costs are to included in the valuation of inventory?
suppose
How do you calculate holding cost for inventory management?
Holding cost for inventory management is calculated by considering factors such as storage expenses, insurance, depreciation, and opportunity cost of tying up capital in inventory. These costs are typically expressed as a percentage of the inventory value and can be calculated using a formula that takes into account these various components.
What are the types of inventory costs?
Item (set-up) costs, holding (storage) costs, and shortage costs (demand > product).
What is ordering quantity?
The Economic Order Quantity (EOQ) is the number of units that a company should add to inventory with each order to minimize the total costs of inventory-such as holding costs, and order costs
What is cost of living?
Cost of living relates to the various costs associated with the livelihood of a human or community. It also includes the various opportunity costs involved in living. It also includes the opportunities foregone in making a living.
