Module 2 Discussion - replacement parts, the new costs are...

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In 200 words or more, explain how cost systems can be used at your employer or a previous position you've held. Also, respond in 100 words or more to two additional postings or more this week. Cost systems were used pretty efficiently and effectively at a previous employer I worked for in New York. The company, located in upstate New York, is a part of a larger company located in Ohio. The New York location manufactures lighting fixtures for use in the commercial building market generally for new construction. Regarding the cost systems, the company, through the computer system, is able to track the cost of each part used to build each lighting fixture down to the cost of each nut and bolt. Additionally, they are able to track the time it takes to build each fixture thereby tracking the cost of personnel time. When ordering new parts or re-ordering
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Unformatted text preview: replacement parts, the new costs are immediately reflected in the computer system for cost accounting and quoting of new order purposes. Inventory is also tracked through the computer system and alerts the correct individual when an item is in need of reorder based on delivery time. This level of timely and accurate part and unit cost information is essential for properly quoting and selling the quantities needed for commercial jobs as most large commercial planners expect a discount based on quantity. Being that these planners have bought previously, the company is able to give those discounts by knowing their costs and receiving discounts of their own from their vendors. Having a good cost system in place can not only help you own business but it can also help the businesses or customers save money by doing business with you. Douglas Silber...
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