Rather than assigning the actual costs of direct materials, direct labor, and manufacturing overhead to a product, some manufacturers assign the expected or standard costs. This means that a manufacturer’s inventories and cost of goods sold will begin with amounts that reflect the standard costs, not the actual costs, of a product. Since a manufacturer […]

The reorder point can be scheduled regularly (e.g., on a certain day of the week) or can be kept under continuous review. So the 9 usual days of supplier delay + the 6 days of ordering delay + the 2 days from the supplier + 1 day of road delays. How long will it take […]

He is a CFA charterholder as well as holding FINRA Series 7, 55 & 63 licenses. He currently researches and teaches economic sociology and the social studies of finance at the Hebrew University in Jerusalem. Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for more than 25 years. In […]