Chris Sandvig Irigation, Inc., has summarized the price list from four potential suppliers of an underground control valve. See the table below. Annual usage is 700valves; order cost is $7 per order, and annual inventory holding costs are $2.15 per unit.Vendor AQuantity1-14Vendor BPrice$34.75Vendor CPrice$34.50Vendor DPrice$34.2533.0031.00QuantityQuantity1-149PriceQuantity$35.001-241-4950-149150-29915-2434.7525-99100-19934.0033.7532.50150-29925-99100-199200-39933.5532.3532.80300+31.6030.50200-399300+31.1031.15400+400+30.75Which vendor should be selected and what order quantity is best if Sandvig Irrigation wants to minimize total cost?Chris Sandvig Irigation should orderunits at a time from Vendor B(enter your response as a whole number).

Cost minimization is the method involved with lessening consumptions on superfluous or wasteful…

Answered: Chris Sandvig Irrigation, Inc., has…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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A firm’s cost of goods sold last year was $3,410,000, and the firm operates 52 weeks per year. It carries seven items in inventory: three raw materials, two work-in-process items, and two finished goods. The following table contains last year’s average inventory level for each item, along with its value. a. What is the average aggregate inventory value? b. How many weeks of supply does the firm maintain? c. What was the inventory turnover last year?
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As manager of the St. Cloud Theatre Company, you have decided that concession sales will support themselves. The following table provides the information you have been able to put together thus far. Item % of Revenue Selling Price $1.20 $2.00 $1.00 $1.00 Variable Cost Soft Drink $0.60 24 25 $0.90 $0.30 Wine Coffee 31 Candy $0.35 20 Last year's manager, Scott Ellis, has advised you to be sure to add 10% of variable cost as a waste allowance for all categories. You ostimate labor cost to be $260.00 (5 booths with 2 people each) Even if nothing is sold, your labor cost will be $280.00, so you decide to consider this a fixed cost Booth rental, which is a contractual cost at $80.00 for each booth per night, is also a fixed cost. a) Based on the information available, the per night break-oven point in dollars for the St. Cloud Theatre Company = $(round your response to two decimal places).

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