QUESTION 2A) On the average, a firm has 10 weeks of work-in-process, and annualcost of goods sold is $15 million. Assuming that the company works 50weeks a year:a) What is the dollar value of the work-in-process?b) If the work-in-process could be reduced to 7 weeks and the annual cost ofcarrying inventorv was 20% of the inventory value, what would be theannual saving?B). Warsop Factory sales are $10 million. The company spends $3.5million for purchase of direct materials and $2.5 million for direct labor;overhead is $3.5 million and profit is $500,000. Direct labor and directmaterial vary directly with the cost of goods sold, but overhead does not.The company wants to triple its profit.By how much should the firm increase sales?By how much should the firm decrease material costs?By how much should the firm decrease labor cost?а.b.с.

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Answered: QUESTION 2 A) On the average, a firm…

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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