Management Accounting: One of the major implications of JIT manufacturing on management accounting is:

Please show work: 16. One of the major implications of JIT manufacturing on management accounting is: a. the clerical process of management accounting is simplified as there are fewer inventories to monitor and report b. the management accounting system always costs more with a JIT system c. the clerical process of management accounting is made more complex as the JIT system is a more complex manufacturing system d. more management accountants always have to be hired to handle the changes to the management accounting system.

Financial Management

Please show work: 17. Hanlon Company has recorded the following data regarding its inventories. To manufacture product MPC1, it takes 4 hours to move raw materials to the work-in-process area. Transforming the raw materials into finished goods takes three production steps of 3 hours each. The finished goods are then temporarily stored in a storage area for 10 hours. Finally, they are inspected, which takes 4 hours. Calculate the manufacturing cycle efficiency for product MPC1. a. 42.8% b. 100% c. 50.0% d. 33.33% e. none of the above. Please provide the correct answer.

Financiial Management

18. If there is unused capacity available in the short run, then the minimum acceptable price for a special order should cover: (a) both variable and fixed costs (b) both variable and fixed costs plus a regular markup (c) variable costs (d) fixed costs

Dropping a major product line that is produced in large batches

19. The decision to drop a major product line that is produced in large batches will likely affect which of the following types of costs? (a) unit-related costs only (b) unit-related and batch-related costs (c) batch-related costs only (d) unit-related, batch-related, and product-sustaining costs

Financial Management

20. All of the following statements are correct EXCEPT: (a) The short-run price needs to cover only the costs that vary in the short run. (b) The short-run price needs to cover both variable and fixed costs. (c) The long-run price needs to cover both fixed and variable costs. (d) Incremental costs are relevant costs in the short run.