Finch Company Began Its Operations on March 31 of the Current

question 146

Multiple Choice

Finch Company began its operations on March 31 of the current year.  Finch has the following projected costs: (1) Of the manufacturing costs, three-fourths are paid for in the month they are incurred; one-fourth is paid in the following month.
(2) Insurance expense is $1,000 a month; however, the insurance is paid four times yearly in the first month of the
     quarter, (i.e., January, April, July, and October) .
(3) Property tax is paid once a year in November.
The cash payments expected for Finch Company in the month of May are

• A) $185,600
• B) $149,900
• C) $187,600
• D) $189,100

Comprehend the role and application of technology in enhancing process efficiency and effectiveness.

Identify the utilization and importance of various tools (e.g., crossover charts, time-function mapping) in process selection and improvement.

Recognize the principles behind mass customization and the importance of modular design in its execution.

Grasp the concept of service productivity strategies, including postponement and service blueprinting.

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Definitions:

Human Resource

The department within an organization that deals with recruitment, management, and development of its employees.

Human Capital

The collective skills, knowledge, and expertise that individuals possess, which can be utilized to create economic value.

Economic Output

The total value of all goods and services produced by an economy over a specific time period.

Labor

The human effort, including both physical and mental capabilities, utilized in the production of goods and services.