Answered: For the following three questions,… | bartleby

Practical Management Science

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...

See similar textbooks

Related questions

Question

Houts Plastics is a large manufacturer of injection-molded plastics in North Carolina. An investigation of the company's manufacturing facility in Charlotte yields the information presented in the table below. How would the plant
assify these items according to an ABC classification system? (Round dollar volume to the nearest whole number and percentage of dollar volume to two decimal places.)
Item number 2349 should be classified as
Item
Code
1289
2347
2349
2363
2394
2395
6782
7844
8210
8310
9111
Item number 8210 should be classified as
L. Houts Plastics Charlotte Inventory Levels
Value
($/unit)
3.75
4.00
2.50
1.50
1.75
2.00
1.15
2.05
1.80
2.00
3.00
Avg. Inventory (units)
400
300
120
18822
75
60
30
20
978
Dollar
Volume
6
1,200
300
105
23
25
O
% of Dollar Volume
35.59
8.90
14
18
3,372
For the following three questions, consider only items 1289, 2349, and 8210 from the above table for relative classification (these are some of the items for which you computed the metrics).
Based on the percentages of dollar volume, item number 1289 should be classified as
3.11
0.68
0.73
0.42
0.53

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 3 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Blurred answer

Similar questions

hello, can someone help me with this question?: if a company regularly holds 50 units of safety stock of a product and places orders in quantities of 500 units for the same product, what would be the average warehouse inventory for that product?
Dr. Wei and Dr. Tusang have a small optometry practice, and they have been in business for over 15 years. They currently store charts in an offsite storage facility and do not have a retention plan or destruction policy. They are considering storing their records electronically. Dr. Wei saw your advertisement in the Journal of Optometry and phoned you for a consultation to discuss their options. What suggestion do you have for the doctors to reduce their off-site storage costs?
please fill out the table
Classify the items in a warehouse inventory using the ABC method, where Group A contributes 80%, Group B contributes 15%, and Group C contributes 5% to the total inventory value Product Code Annual Demand Pick List Frequenscy Weighted Volume Weighthed Percentage Comulative Weight Percentage ABC Category A001 20000 2200 A002 19000 1700 A003 7800 700 A004 9840 1400 A005 16000 1300 A006 12000 2000 A007 9950 400 A008 10500 1700 A009 8200 515 A010 4700 258 A011 5100 367 A012 8800 800 A013 8900 711 A014 15000 1900 A015 7900 350 A016 9620 2000 A017 8800 550 A018 25000 2000 A019 9950 380 A020 10500 1100
What would be the relationship (one-to-one, one-to-many, or many-to-many) relationship between: Sales and inventory Inventory and Order form Order and Vendor
Alpha Products, Inc., is having a problem trying to control inventory. There is insufficient time to devote to all its items equally. The following is a sample of some items stocked, along with the annual usage of each item expressed in dollar volume. ITEM ANNUAL DOLLAR USAGE ITEM ANNUAL DOLLAR USAGE a S 30, 100 k S 1,700 b 27,000 120,000 c 93,000 m 111,000 d 1,400 n 3,000 e 1,800 o 500 f 30,000 p 114, 000 g 1,600 q 2,600 h 2,500 г 28,000 i 3, 200 s 2, 800 j 1,500 t 3, 100 a. Suggest a system for allocating control time? multiple choice ABC analysis Cycle counting b. Specify where each item from the list would be placed.
What is the difference between a list of inventory items and their quantities on hand and a physical inventory?
Inventory Management You are the store manager at a local branch of DigiLife, a large electronics retail chain. A new version of a popular consumer electronics device called the Amulet is coming out this year. It is your job to sell as many Amulets as you can while minimizing your costs in order to maximize your store's profits. Your Goal Earn $1,000,000 in net profits of Amulet sales.
The U.S. Airfilter company has hired you as a supply chain consultant. The company makes air filters for residential heating and air- conditioning systems. These filters are made in a single plant located in Louisville, Kentucky, in the United States. They are distributed to retailers through wholesale centers in 100 locations in the United States, Canada, and Europe. You have collected the following data relating to the value of inventory in the U.S. Airfilter supply chain: QUARTER 1 QUARTER 3 (JULY THROUGH QUARTER 4 QUARTER 2 (APRIL THROUGH JUNE) (JANUARY (OCTOBER THROUGH THROUGH MARCH) SEPTEMBER) DECEMBER) All amounts in millions of U.S. dollars Sales (total quarter): United states 356 532 552 436 Canada 130 127 116 151 Europe 42 34 49 24 Cost of goods sold (total quarter) 338 445 465 398 Raw materials at the Louisville plant (end-of-quarter) 93 49 79 89 Work-in-process and finished goods at the Louisville plant (end-of-quarter) 194 175 127 176 Distribution center inventory…
What factors should a company consider when deciding whether to adopt the Wilson approach for its inventory management?
The following lots of a particular commodity were available for sale during the year Beginning inventory 7 units at $49.00 First purchase 18 units at $54.00 Second purchase 25 units at $59.00 Third purchase 14 units at $59.00 The firm uses the periodic system, and there are 23 units of the commodity on hand at the end of the year. What is the amount of inventory at the end of the year according to the FIFO method? Select the correct answer. $1,127.00 $1,357.00 $3,616.00 $3,593.00
Use the inventory table and the gross profit inventory method to estimate the ending inventory and cost of goods sold if a 40% gross profit is realized on sales and net sales are $115,990. Date of purchase Units Cost per Total Retail price Total retail purchased unit cost per unit value Beginning inventory 41 $830 $34,030 $985 $40,385 February 5 20 $1,750 $35,000 $2,115 $42,300 February 19 15 $975 $14,625 $1,996 $29,940 March 3 28 $470 $13,160 $610 $17,080 Goods available for sale 104 $129,705 Units sold 81 Ending inventory 23 The estimated cost of goods sold is $

SEE MORE QUESTIONS

Recommended textbooks for you

Practical Management Science

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

Operations Management

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Practical Management Science

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

Operations Management

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Business in Action

Business in Action

Operations Management

ISBN:

9780135198100

Author:

BOVEE

Publisher:

PEARSON CO

Purchasing and Supply Chain Management

Purchasing and Supply Chain Management

Operations Management

ISBN:

9781285869681

Author:

Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:

Cengage Learning

Production and Operations Analysis, Seventh Editi…

Production and Operations Analysis, Seventh Editi…

Operations Management

ISBN:

9781478623069

Author:

Steven Nahmias, Tava Lennon Olsen

Publisher:

Waveland Press, Inc.

SEE MORE TEXTBOOKS