Response to the following questions:
1. How could traceability of costs improve managerial decisions?
2. What are the three types of inventory on a manufacturing company's balance sheet?
3. Compute and interpret (a) manufacturing cycle time and (b) manufacturing cycle efficiency using the following information from a manufacturing company
Process time . . . . . . . . . 15 minutes
Inspection time . . . . . . . 2 minutes
Move time . . . . . . . . . . . 6.4 minutes
Wait time . . . . . . . . . . . 36.6 minutes