Carmen is the manager of an office furniture company. Instead of producing all the office furniture items itself, her company imports prepackaged office furniture. For individual customers, the company assembles the items ordered and ships them to the client with a markup. The company also sells its prepackaged units to retailers like Office Depot in flat packages. For these retail sales, the company has to ensure that the correct pieces are in the prepackaged units. It also needs to provide assembly instructions and the assembly kit (e.g. nails, screws, washers, bolts, and nuts). One of Carmen's jobs is to monitor the costs of these prepackaged units. She also manages the inventory levels of both the furniture items and the installation kits. She collected the following data sets for the top five most popular items. Furniture Company Kit data set. Product ID is the product identifier. Each product has an assembly kit based on the ID number. To ensure that the company always has the correct assembly kit available, it generally keeps about 400 backup kits for each product in its warehouse. That is, the supplier is supposed to include an assembly kit in the prepackaged unit. In case the supplier forgets to include the kit, the company can always put the correct one in the package. This safety stock amount (400 units) is determined based on information the company collected about three years ago. Furniture Company Sales data set. Sales_ID is the number that identifies each sales transaction on a specific date (invoice_date). The sale is handled by a specific employee (employee_ID) for a specific customer (customer_ID). Customer number 999 is assigned to all individual consumers (the company only assigns a specific customer number to each business client). The data also shows the product sold (product_ID) and the quantity sold on that date (Q_sold). Furniture Company PO data set. This file shows all the purchase orders (PO_num) on a specific date (PO_date). The purchase is for a specific product (product_ID) from a vendor (vendor_ID). It also shows total quantity ordered (Q_ordered). Furniture Company Product Search data set. Carmen asked the webmaster of the company's shopping website to tell her the number of searches for a product during the month when the sales occur. She wants to get a sense of the popularity of each product. To better prepare herself for the next period, Carmen created the following two visualizations to show the trend of sales and purchase order quantity for product 1. Product ID Invoice Data, January 648
Carmen is the manager of an office furniture company. Instead of producing all the office furniture items itself, her company imports prepackaged office furniture. For individual customers, the company assembles the items ordered and ships them to the client with a markup. The company also sells its prepackaged units to retailers like Office Depot in flat packages. For these retail sales, the company has to ensure that the correct pieces are in the prepackaged units. It also needs to provide assembly instructions and the assembly kit (e.g. nails, screws, washers, bolts, and nuts). One of Carmen's jobs is to monitor the costs of these prepackaged units. She also manages the inventory levels of both the furniture items and the installation kits. She collected the following data sets for the top five most popular items. Furniture Company Kit data set. Product ID is the product identifier. Each product has an assembly kit based on the ID number. To ensure that the company always has the correct assembly kit available, it generally keeps about 400 backup kits for each product in its warehouse. That is, the supplier is supposed to include an assembly kit in the prepackaged unit. In case the supplier forgets to include the kit, the company can always put the correct one in the package. This safety stock amount (400 units) is determined based on information the company collected about three years ago. Furniture Company Sales data set. Sales_ID is the number that identifies each sales transaction on a specific date (invoice_date). The sale is handled by a specific employee (employee_ID) for a specific customer (customer_ID). Customer number 999 is assigned to all individual consumers (the company only assigns a specific customer number to each business client). The data also shows the product sold (product_ID) and the quantity sold on that date (Q_sold). Furniture Company PO data set. This file shows all the purchase orders (PO_num) on a specific date (PO_date). The purchase is for a specific product (product_ID) from a vendor (vendor_ID). It also shows total quantity ordered (Q_ordered). Furniture Company Product Search data set. Carmen asked the webmaster of the company's shopping website to tell her the number of searches for a product during the month when the sales occur. She wants to get a sense of the popularity of each product. To better prepare herself for the next period, Carmen created the following two visualizations to show the trend of sales and purchase order quantity for product 1. Product ID Invoice Data, January 648
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
100%
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 1 steps
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education