In this year of operation, the company produced 21,000 units but was able to sell only 18,000 units. In its second year, the company needed to get rid of excess inventory (the extra 3,000 units produced but not sold in 2017) so it cut back production to 15,000 units. Requireda. Calculate profit for both years using full costing. b. Note the profit has declined in 2018. Is company performance actually worse in 2018 compared to 2017

Which of the following correctly describes the accounting for indirect labor costs? indirect labor costs are product costs and are expensed as incurred. indirect labor costs are period costs and are expensed when the manufactured product is sold. indirect labor costs are period costs and are expensed as incurred. indirect labor costs are product costs and are expensed when the manufactured product is sold.

Which of the following is false regarding the links between jit and quality? a. jit increases the cost of obtaining good quality. b. as quality improves, fewer inventory buffers are needed; in turn, jit performs better. c. jit reduces the number of potential sources of error by shrinking queues and lead times. d. inventory hides bad quality; jit immediately exposes it. e. if consistent quality exists, jit allows firms to reduce all costs associated with inventory.

Highland company produces a lightweight backpack that is popular with college students. standard variable costs relating to a single backpack are given below