The manager of Alaina's Garden Center must make the annualpurchasing plans for rakes, gloves, and other gardening items. Oneof the items the company stocks is Fast-Grow, a liquid fertilizer. Thesales of this item are seasonal, with peaks in the spring, summer,and fall months. Quarterly demand (in cases) for the past two yearsis as follows:Quarter1234TotalYear 139346292228905The first quarter forecast isto the nearest whole number.)Year 2554693153151,154If the expected sales for Fast-Grow are 1,214 cases for year 3, usethe multiplicative seasonal method to prepare a forecast for eachquarter of the year. (Round all intermediate calculations to threedecimal places.)cases. (Enter your response rounded

Here, I have been given the expected sales for year 3, The quarterly demand for the past two years…

Answered: If the expected sales for Fast-Grow are…

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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Problem 20-10 (Algo) You are a newsvendor selling San Pedro Times every morning. Before you get to work, you go to the printer and buy the day's paper for $0.30 a copy. You sell a copy of San Pedro Times for $1.10. Daily demand is distributed normally with mean = 265 and standard deviation = 53. At the end of each morning, any leftover copies are worthless and they go to a recycle bin. a. How many copies of San Pedro Times should you buy each morning? (Use Excel's NORMSINV() function to find the correct critical value for the given a-level. Round your z-value to 2 decimal places and final answer to to 2 decimal places.) Optimal order quantity b. Based on a, what is the probability that you will run out of stock? (Round your answer to the nearest whole number.) Probability
Problem 20-10 (Algo) You are a newsvendor selling San Pedro Times every morning. Before you get to work, you go to the printer and buy the day’s paper for $0.50 a copy. You sell a copy of San Pedro Times for $1.25. Daily demand is distributed normally with mean = 335 and standard deviation = 67. At the end of each morning, any leftover copies are worthless and they go to a recycle bin. a. How many copies of San Pedro Times should you buy each morning? (Use Excel's NORMSINV() function to find the correct critical value for the given α-level. Round your z-value to 2 decimal places and final answer to to 2 decimal places.) b. Based on a, what is the probability that you will run out of stock? (Round your answer to the nearest whole number.)
In August of the current year, a car dealer istrying to evaluate the monthly profitability. Below isinformation the car dealer observed based on historical data:• The ordering cost of carsfollows a triangular distribution, with a minimum cost of $5,000,a maximum cost of $17,000, and most likely to be $11,000.• The monthly demand for the dealer’s cars is normally distributed with mean of 50 andstandard deviation of 10 (use an excel function to round the sales quantity to the nearestinteger).• Depending on the model and year, the dealer sets the selling price of each car followinga uniform distribution between $8,000 and $30,000. Assume that there is no associationbetween each car’s ordering cost and selling price.• In addition, the dealer expends $100,000 every month on the employees’ salary.(2) Build a profit model for this car dealer that incorporates the uncertainties in selling price,ordering cost, and sales quantity. (Hint: Use the Uncertain Profit example as a template,BUT there…
Problem 20-10 (Algo) You are a newsvendor selling San Pedro Times every morning. Before you get to work, you go to the printer and buy the day's paper for $0.45 a copy. You sell a copy of San Pedro Times for $1.40. Daily demand is distributed normally with mean = 340 and standard deviation = 68. At the end of each morning, any leftover copies are worthless and they go to a recycle bin. a. How many copies of San Pedro Times should you buy each morning? (Use Excel's NORMSINV() function to find the correct critical value for the given a-level. Round your z-value to 2 decimal places and final answer to to 2 decimal places.) 8 Answer is complete but not entirely correct. Optimal order quantity 0.05 b. Based on a, what is the probability that you will run out of stock? (Round your answer to the nearest whole number.) * Answer is complete but not entirely correct. Probability 3 X %
The purchasing manager for the Atlantic Steel Company must determine a policy for orderingcoal to operate 12 converters. Each converter requires exactly 5 tons of coal per day to operate,and the firm operates 360 days per year. The purchasing manager has determined that the orderingcost is $80 per order and the cost of holding coal is 20% of the average dollar value of inventoryheld. The purchasing manager has negotiated a contract to obtain the coal for $12 per ton forthe coming year. Determine the total inventory-related costs associated with the optimal ordering policy (do not include the cost of the coal).
The purchasing manager for the Atlantic Steel Company must determine a policy for orderingcoal to operate 12 converters. Each converter requires exactly 5 tons of coal per day to operate,and the firm operates 360 days per year. The purchasing manager has determined that the orderingcost is $80 per order and the cost of holding coal is 20% of the average dollar value of inventoryheld. The purchasing manager has negotiated a contract to obtain the coal for $12 per ton forthe coming year. If 5 days of lead time are required to receive an order of coal, how much coal should be on hand when an order is placed?
The purchasing manager for the Atlantic Steel Company must determine a policy for orderingcoal to operate 12 converters. Each converter requires exactly 5 tons of coal per day to operate,and the firm operates 360 days per year. The purchasing manager has determined that the orderingcost is $80 per order and the cost of holding coal is 20% of the average dollar value of inventoryheld. The purchasing manager has negotiated a contract to obtain the coal for $12 per ton forthe coming year. Determine the optimal quantity of coal to receive in each order.
The book and paper store also distributes a city guidebook that is ordered from the publisher when needed. The purchase cost is $60. and the store must assume a lead - time of three months from the order is placed and the guidebooks arrive. The store reckon for an annual interest rate of 20 % to compute holding costs, and estimates a cost of $40. for a lost sale if the guidebook is requested when they are out of stock. The expense of placing an order is set to $100.The demand of the guidebook can vary a great deal, but the average during a three - month period has been calculated to 125. The demand can be described by a normal distribution and the standard deviation is 15. Find the optimal value of the lot size, Q, and the reorder point, R, in this case.
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for DVD players are as follows: November 1 Inventory 79 units at $63 10 Sale 63 units 15 Purchase 102 units at $67 20 Sale 57 units 24 Sale 14 units 30 Purchase 21 units at $70 The business maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cost of merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Goods Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column. Schedule of Cost of Goods Sold LIFO Method DVD Players Quantity Date Purchased Purchases Unit Cost Purchases Total Cost Quantity Sold Cost of Goods Cost of Goods Sold Unit Cost Sold Total Cost Inventory Quantity Inventory Unit Cost Inventory Total Cost Nov. 1 Nov. 10 Nov. 000…
3
4. A beer store uses a (Q, R) inventory system to control its stock levels. For a particularly popular black ale (a type of beer), historical data shows that the distribution of weekly demand is approximately normal, with mean 7 and standard deviation 2. Replenishment lead time for this beer store is about 5 weeks. Each unit of this beer costs the store $60. Although excess demands are back-ordered, the store owner estimates that unfilled demands cost about $100 per unit in bookkeeping and loss-of-goodwill costs. Fixed costs of replenishment are $150 per order, and holding costs are based on a 30% annual rate of interest. Assume each month is equivalent to 4 weeks. (a) What are the optimal lot sizes and reorder points for this beer? (b) What is the optimal safety stock for this beer? (c) What if the unfilled demands now incur a penalty cost of $75 per unit beer per week?
In determining open-to-buy, what is subtracted from planned purchases? O On hand On order EOM stock BOM stock Question 37 Your department is planning a 10 percent increase in sales for the entire three- month period (February-April). Sales for the period last year were $19,000. Fifty percent of the total planned sales are projected to occur in March, and 25 percent of sales are planned to occur in each of the other two months. Planned stock-sales ratio for each month is 2.0. Total planned reductions for the period are 5 percent of planned sales. Reductions are projected to occur for each month as follows: February (10 percent), March (40 percent), and April (50 percent). An ending inventory of $5,000 is planned for the period. PLANNED PURCHASES FOR FEBRUARY ARE: O $24,200 O $15.779 O None (overbought). $10.895.50

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