Day Mail Order Co. applied the high-low method of cost estimation to customer order data for the first four months of 2005. What is the estimated variable order filling cost component per order? Month Orders Cost January 1,200 $3,120 February 1,300 3,185 March 1,800 4,320 April 1,700 3,895 a. $2.00 b. $2.42 c. $2.48 d. $2.50 6,000 $14,520

Day Mail Order Co. applied the high-low method of cost estimation to customer order data for the first four months of 2005. What is the estimated variable order filling cost component per order? Month Orders Cost January 1,200 $3,120 February 1,300 3,185 March 1,800 4,320 April 1,700 3,895 a. $2.00 b. $2.42 c. $2.48 d. $2.50 6,000 $14,520

Essentials of Business Analytics (MindTap Course List)

2nd Edition

ISBN:9781305627734

Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Chapter3: Data Visualization

Section: Chapter Questions

Problem 3P: The following table provides monthly revenue values for Tedstar, Inc., a company that sells valves...

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Dohini Manufacturing Company had the following 12 months of data on purchasing cost andnumber of purchase orders. Month Purchasing Cost Number of Purchase OrdersJanuary $18,860 370February 18,065 330March 19,250 370April 18,050 410May 19,345 400June 19,500 450July 19,670 460August 20,940 560September 19,430 440October 20,020 500November 18,800 470December 19,340…
Bruin Wholesale has gathered the following data on the number of shipments received and the cost of receiving reports for the first seven weeks of 2010. Number of Shipment Received Weekly Cost of Receiving Reports 50 $175 44 162 40 154 35 142 53 185 58 200 60 202 a. Using the high-low method, develop the equation for predicting weekly receiving report costs based on the number of shipments received. b. What is the predicted amount of receiving report costs for a week in which 72 shipments are received? c. What are the concerns you have regarding your prediction from part (b)?
LO.4 (High-low method) Wyoming Wholesale has gathered the following data on the number of shipments received and the cost of receiving reports for the first seven weeks of 2013. Number ofShipments Received Weekly Cost ofReceiving Reports 50 $175 44 162 40 154 35 142 53 185 58 200 60 202 a. Using the high-low method, develop the equation for predicting weekly receiving report costs based on the number of shipments received.b. What is the predicted amount of receiving report costs for a week in which 72 shipments are received?
a. Using the least squares method, develop the equation for predicting weekly receiving report costs based on the number of shipments received. b. What is the predicted amount of receiving report costs for a month (assume a month is exactly four weeks) in which 165 shipments are received?
In the following MRP planning schedule for Item J, indicate the correct net requirements, planned-order receipts, and planned-order relesses to meet the gross requirements. Lesd time is one week. (Leave the cells blank, whenever zero (0) is required.) WEEK NUMBER 2 ITEM I 1 4 5 Gross requirenents 75 5e 70 On- hand 40 Net requirements Planned-order receipt Planned-order release Perlod 2 4 5 Grass requirements 75 50 70 Scheduled receipts Item: J ОН: 40 LT: 1 SS: 0 Q: L4L Projected available balance Net requirements Planned order receipts Planned order releases
McGarvey Manufacturing Company had the following 12 months of data on purchasing cost and number of purchase orders. Month Purchasing Cost Number of PurchaseOrders January $19,250 370 February 18,060 330 March 18,200 340 April 18,050 410 May 19,345 400 June 19,500 450 July 19,670 460 August 21,300 600 September 19,430 440 October 20,020 570 November 18,800 470 December 19,340 480 Required: 1. Determine the high point and the low point. Month with high number of purchase orders _______ Month with low number of purchase orders _______ 2. Calculate the variable rate for purchasing cost based on the number of purchase orders. (Round to the nearest cent.)$_____ per purchase order 3. Calculate the fixed monthly cost of purchasing.$_____ 4. Write the cost formula for the purchasing activity showing the fixed cost and the variable rate. Round variable rate to the nearest cent. Total purchasing cost…
Pinkton Corporation keeps careful track of the time required to fill orders. The times recorded for a particular order appear below: Hours Move time 2.5 Wait time 31.2 Queue time 8.4 Process time 0.9 Inspection time 0.2 The delivery cycle time was: (Round your intermediate calculations to 1 decimal place.) Multiple Choice 10.9 hours 43.2 hours 2.5 hours
I honestly need help on FIFO, LIFO, weighted average, and specific method on these chapter 7 questions. The following transactions occurred for the month of May. Date Units Cost Total Sales Price 1-May Beginning Balance 65 13 $845 2-May Purchase 75 14 $1,050 3-May Purchase 70 16 $1,120 10-May Sale 100 $30 15-May Purchase 40 17 $680 17-May Sale 45 $30 30-May Sale 100 $30 Calculate the Cost of Goods Sold, Ending inventory, and Gross Profit for the month under Weighted Averages. Do not round the unit cost. Do round total costs to the nearest cent on each transaction. End of the month totals Cost of Goods Sold $ Ending Inventory $ Gross Profit $
on Given the following data, calculate the cost of goods sold using the FIFO costing method: Jan Beginning inventory 110 units at $30 per unit, Feb 25 Purchased 100 units at $32 per unit; June 15 Purchased 80 units at $33 per unit; Sept 20 Purchased 75 units at $31 per unit; Dec 31 Ending inventory 125 units. It might help to make a table. Select one: O a $11,465 O b. $4,965 Oc: $7,490 Od. $3,975
Refer to the information for Farnsworth Company (p. 139) for the first 10 months of data on receiving orders and receiving cost. Now suppose that Tracy has gathered 2 more months of data: Note: For the following requirements, round the intercept terms to the nearest dollar, round the variable rates to the nearest cent, and R2 to two decimal places. Required: 1. Run two regressions using a computer spreadsheet program such as Excel. First, use the method of least squares on the first 10 months of data. Then, use the method of least squares on all 12 months of data. Write down the results for the intercept, slope, and R2 for each regression. Compare the results. 2. CONCEPTUAL CONNECTION Prepare a scattergraph using all 12 months of data. Do any points appear to be outliers? Suppose Tracy has learned that the factory suffered severe storm damage during Month 11 that required extensive repairs to the receiving areaincluding major repairs on a forklift. These expenses, included in Month 11 receiving costs, are not expected to recur. What step might Tracy, using her judgment, take to amend the results from the method of least squares? 3. CONCEPTUAL CONNECTION Rerun the method of least squares, using all the data except for Month 11. (You should now have 11 months of data.) Prepare a cost formula for receiving based on these results, and calculate the predicted receiving cost for a month with 1,450 receiving orders. Discuss the results from this regression versus those from the regression for 12 months of data.
Given the following information, formulate an inventory management system. The item is demanded 50 weeks a year. Item cost Order cost Annual holding cost (N) Annual demand Average demand $ 11.00 $257.00 33 26,600 532 Standard deviation of weekly denand Lead time Service probability 30 units /order % of item cost units /week 2 week 98% a. Determine the order quantity and reorder point. (Use Excel's NORMSINV( ) function to find your z-value and then round that z- value to 2 decimal places. Do not round any other intermediate calculations. Round your final answers to the nearest whole number.) Optimal order quantity units units Reorder point b. Determine the annual holding and order costs. (Do not round any intermediate calculations. Round your final answers to 2 decimal places.) Holding cost Ordering cost C. Assume a price break of $60 per order was offered for purchase quantities of 2,000 units per order. If you took advantage of this price break, how much would you save annually? (Do…
Using Regression Results to Construct and Apply a Cost Formula Dohini Manufacturing Company had the following 12 months of data on purchasing cost and number of purchase orders. Month Purchasing Cost Number of PurchaseOrders January $18,860 370 February 18,065 330 March 19,250 370 April 18,050 410 May 19,345 400 June 19,500 450 July 19,670 460 August 20,940 560 September 19,430 440 October 20,020 500 November 18,800 470 December 19,340 480 The controller for Dohini Manufacturing ran regression on the data, and the coefficients shown by the regression program are: Intercept 15,021 (rounded to the nearest dollar) X…