Weekly Usage of a Product Is 8 Units

question 29

Short Answer

Weekly usage of a product is 8 units. Since the plant operates 50 weeks per year, this leads to annual usage of 400 units. Setup cost is $40 and annualized carrying cost is $80. Weekly production of this product is 12 units. Lead time is four weeks, and safety stock is one week's production. What is optimal kanban size? What is the optimal number of kanbans?

Understand the process and importance of posting journal entries to ledger accounts.

Comprehend the purpose and structure of a chart of accounts in organizing financial information.

Identify the characteristics and normal balances of various account types (assets, liabilities, owner's equity, revenues, and expenses).

Realize the significance of the trial balance in confirming the mathematical equality of debits and credits in the accounting system.

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Definitions:

Unorganized Information

Data or facts that are disordered or not arranged in a systematic or coherent way, making it difficult to understand or use efficiently.

Personal Finance

The management of an individual's or a family's financial decisions, covering aspects such as budgeting, saving, investing, and financial planning.

Question-and-answer Chain

A sequence of inquiries and responses used to explore or clarify information on a particular topic.

Financial Concepts

Fundamental categories and principles that form the basis for financial analysis, planning, and decision-making.