Define maximum probable yearly aggregate loss (MPY) and estimated maximum loss (EML) and describe their application.
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Define maximum probable yearly aggregate loss (MPY) and estimated maximum
loss (EML) and describe their application.
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- Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. As the Marketing Manager for Southeastern Corrugated, what would you do upon receiving the request for quotation from Coastal Products?When creating an Event, which field reflects the current stage of the negotiating process and controls whether the rooms, space, and items will deduct from inventory?A forecast of 240 units in January, 320 units in February, and 240 units in March has been approved for the seismic-sensory product family manufactured at the Rockport facility of Maryland Automated, Inc. Three products, A, B, and C, comprise this family. The product mix ratio for products A, B, and C for the past 2 years has been 35 percent, 40 percent,and 25 percent, respectively. Management believes that the monthly forecast requirements are evenly spread over the 4 weeks of each month. Currently, 10 units of product C are on hand. The company produces product C in lots of 40, and the lead time is 2 weeks. A production quantity of 40 units from the previous period is scheduled to arrive in week 1. Thecompany has accepted orders of 25, 12, 8, 10, 2, and 3 units of product C in weeks 1 through 6, respectively. Prepare a prospective MPS for product C and calculate the availableto-promise inventory quantities.
- Examine the principle of postponement in relation to the manufacturing and logistics interface.Can you please assist me with Problem 8 thank youa) For an upcoming red carpet evening, a company is selling tickets at $60 per person at a large theatre which has a capacity of 10,000 people. Each attendant is expected to buy $12 of food and merchandise at the film evening. The cost of providing the food and merchandise is estimated to be $5 per person. All other ancillary services will be provided by the theatre. Initial analysis indicates that the ancillary cost of providing food and merchandise, as well as the staff needed to handle ticket sales, may be described as a semi-variable cost. Data on these costs and tickets sold from three similar events held at the venue have been collected and are tabulated below: Tickets Sold Cost ($) 2100 6640 3824 11284 4650 13525 Use the high-low method to estimate the total cost function relating to these ancillary costs. b) The company will be renting the theatre which will host the upcoming red carpet evening. The budgeted fixed cost of both renting the theatre and paying the…
- As of January 1, 2023, outstanding account receivable (sales made the previous year pending collection) amounted to 20,000. Throughout 2023, sa;es totalling 180,000 euros (income statement) were made. As of December 31, 2023, outstaning receivables from customers amounted to 32, 000 euros. What was the total collection in 2023 for sales made both in that year and in previous year? a. 168,000 euros b 184,000 euros c. 132,800 eurosGongjin Hotel is a budget hotel in the province of Gyeongsan. Due to the COVID-19 pandemic, the hotel wanted to convert the hotel to a facility for OFWs that were returning to the country because of the protocols mandated by the government where they need to be quarantined for 3-7 days before returning to their cities. Furthermore, the hotel is expected to be fully booked because they are the only hotel that would offer this service. Being the Executive Housekeeper, how will you encourage the general manager to convert the hotel? What protocols would you be implementing for the hotel as well for the housekeeping employees for them to be allowed to convert to the hotel? Give at least five (5) recommendations and support your answers with related literature.Break-even analysis is an important tool for managing any business, including colleges and universities. Identify 3 areas where break-even analysis might be used at a university. For each area, identify the revenues, fixed costs, and variable costs.
- Explain the PPP structure of the habibiganj railway station and Identify the major risks that will be taken by the concessionaire.multiple choicesActivity-Based Supplier Costing Noguchi Company manufactures cooling systems. Noguchi produces all the parts necessary for its product except for one electronic component, which is purchased from two local suppliers: Manzer Inc. and Buckner Company. Both suppliers are reliable and seldom deliver late; however, Manzer sells the component for $89 per unit, while Buckner sells the same component for $86. Noguchi purchases 80% of its components from Buckner because of its lower price. The total annual demand is 4,000,000 components. To help assess the cost effect of the two components, the following data were collected for supplier-related activities and suppliers: I. Activity Data Inspecting components (sampling only) Activity Cost $780,000 Reworking products (due to failed component) 6,520,000 10,270,000 Warranty work (due to failed component) II. Supplier Data Unit purchase price Units purchased Sampling hours* Rework hours Warranty hours Manzer Buckner Inc. Company $89 $86 800,000…
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