39. Mike's Garage, a local automotive service and repair shop, uses oil filters at a fairlysteady rate of 2,400 per year. Mike estimates that the cost of his time to make andprocess an order is about $50. It takes one month for the supplier to deliver the oil fil-ters to the garage, and each one costs Mike $5. Mike uses an annual interest rate of25 percent to compute his holding cost.a. Determine the optimal number of oil filters that Mike should purchase, and the op-timal time between placement of orders.b. Determine the level of on-hand inventory at the time a reorder should be placed.c. Assuming that Mike uses an optimal inventory control policy for oil filters, what isthe annual cost of holding and order setup for this item?

Answered: Image /qna-images/answer/b98f6c18-f4b6-4487-a21d-b82e2f4f15e9.jpg

Answered: 39. Mike's Garage, a local automotive…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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5. Luther crashed his motorcycle on FM 1159 last weekend. His motorcycle was totaled, meaning it cannot be fixed for less than it would cost to replace the bike. He decides that motorcycles are too dangerous, and he's going to get a car instead of a bike this time. The proceeds (the amount paid to Luther by his insurance company for the value of his motorcycle) from his insurance claim would be an example of which kind of cost. a. Direct b. Indirect
Hector has several financial decisions to make in the near future. He is planning to buy a car, open a savings account, and place money in a certificate of deposit (CD) so that he may purchase a boat when he retires. Hector has asked that we help him decide which options are best for him. The car Hector has chosen costs $24,000. Most car loans are calculated using simple interest, a method which interest is calculated only one per year. His first option is a loan with 3% interest over six years. How much will Hector pay over the course of the next six years if he chooses this option?
You are the accountant for a company that owns a chain of 18 fast food restaurants in a state which adjusts the minimum wage for inflation. Each restaurant employs 45 workers, each averaging 20 hours per week at the current federal minimum wage, $7.25 per hour.(a)How many hours at minimum wage are paid out each week by the company?hr(b)At the current rate of $7.25 per hour, what is the amount (in $) of the weekly "minimum wage" portion of the restaurant's payroll?$ (c)If the inflation rate this year is 0.7%, calculate the "adjusted" minimum wage rate (in $ per hour) to be paid next year. (Round your answer to two decimal places.)$ per hour(d)How much in "additional wages" will the company have to pay out next year at the adjusted rate (in $)? (Round your answer to the nearest dollar.)$ (e)Suggest some ways that the restaurant chain or other small businesses can offset the increase in payroll and subsequent decrease in profit as a result of the minimum wage hike.
3. Sloane wants to purchase a package of tennis memorabilia in 6 years. The package costs 350 today but increases its price by 4.5% per year. Sloan decides to deposit 28 into an account at the beginning of each year for 6 years. She also deposits an additional amount Y at the beginning of years 3, 4, 5, and 6 to meet her goal. Calculate Y if the annual effective rate of interest is 9%.
21. The income statement for Otto Construction Company appear below: Net sales (all credit sales) $180000 Cost of goods sold 100000 Gross margin 80000 Operating expenses 30000 Interest expense 12000 Income before taxes 38000 Income tax 9500 Net income $28500 Average total assets total $240000. Otto’s income tax rate is 25%.What is the gross margin percentage? (a) 12.5% (b) 15.8% (c) 33.3% (d) 44.4%
Calculate the Producers' Surplus at the indicated unit price p (in dollars) for the given supply equation. p = 100+q; p A. $15,000 B. $35,000 C. $10,000 D. $5,000 = 200

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