General Fabricators Assembles Its Product in Several Departments

question 26

Essay

General Fabricators assembles its product in several departments.It has two departments that process all units.During October,the beginning work in process in the cutting department was half completed as to conversion,and complete as to direct materials.The beginning inventory included $12,000 for materials and $3,000 for conversion costs.Ending work-in-process inventory in the cutting department was 40% complete.Direct materials are added at the beginning of the process.
Beginning work in process in the finishing department was 75% complete as to conversion.Direct materials are added at the end of the process.Beginning inventories included $16,000 for transferred-in costs and $20,000 for conversion costs.Ending inventory was 25% complete.Additional information about the two departments follows:

Required:
Prepare a production cost worksheet using weighted-average for the cutting department and FIFO for the finishing department.

Comprehend the potential negative outcomes for employees resulting from mergers, including job reapplication and demotion.

Describe the emotional and psychological effects of mergers on employees, including feelings of deculturation and the stress of surviving a merger.

Appreciate the significance of properly managing organizational culture to avoid merger failures.

Recognize mergers and acquisitions as corporate restructuring strategies with various motives, including economic, strategic, and psychological.

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Definitions:

Resellers

Businesses or individuals that purchase goods with the intention of selling them to end-consumers without significant modification.

Producers

Producers are individuals or businesses that create goods or services, playing a crucial role in the economy by offering products for consumer or business use.

Derived Demand

The linkage between consumers’ demand for a company’s output and its purchase of necessary inputs to manufacture or assemble that particular output.

Waiting Lists

Lists of individuals or entities that are waiting to receive a service, product, or opportunity, often used when demand exceeds current supply or capacity.