Hannah has been analyzing the manufacturing process for a local company. First, she defined the problem as the amount of unusable products created, and then she measured employee actions to clarify the work process. Next, she found the root causes of the problem through analysis and considered different ways to improve the process. Finally, Hannah proposed automating a pair of machines where process errors currently occurred. This decreased the number of defective products by 7%. Hannah will continue to monitor the number of unusable products to be sure the problem doesn’t reoccur.

This scenario is an example of [budget review, Six Sigma, Total quality managment], a principle that is most likely being implemented to[eliminate waste, foster teamwork, exceed customer expectations].

Lynch company manufactures and sells a single product. the following costs were incurred during the company’s first year of operations: variable costs per unit: manufacturing: direct materials $ 12 direct labor $ 6 variable manufacturing overhead $ 1 variable selling and administrative $ 1 fixed costs per year: fixed manufacturing overhead $ 308,000 fixed selling and administrative $ 218,000 during the year, the company produced 28,000 units and sold 15,000 units. the selling price of the company’s product is $56 per unit. required: 1. assume that the company uses absorption costing: a. compute the unit product cost. b. prepare an income statement for the year. 2. assume that the company uses variable costing: a. compute the unit product cost. b. prepare an income statement for the year.

The questions of economics address which of the following ? check all that apply

Consider derek's budget information: materials to be used totals $64,750; direct labor totals $198,400; factory overhead totals $394,800; work in process inventory january 1, $189,100; and work in progress inventory on december 31, $197,600. what is the budgeted cost of goods manufactured for the year? a. $1,044,650 b. $649,450 c. $657,950 d. $197,600