Ram Roy's firm has developed the following supply, demand, cost, and inventory data.Supply AvailableRegularDemandPeriodTimeOvertimeSubcontract Forecast14015550230155603402056030 units$100$150$250$6Initial inventoryRegular-time cost per unitOvertime cost per unitSubcontract cost per unitCarrying cost per unit per monthAssume that the initial inventory has no holding cost in the first period and backorders are not permitted.Allocating production capacity to meet demand at a minimum cost using the transportation method, the total cost is $(enter your response as a whole number).

To minimize costs while meeting demand, Ram Roy's firm must allocate production capacity effectively…

Answered: Ram Roy's firm has developed the…

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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The seasonal demand for a particular product is given below: Period 12 3 4 56 Demand 300 450 100 450 450 100 The fixed parameters are: Fixed Cost $8 Unit Production Cost $1 Holding Cost $1.3 Calculate total ordering cost using the following three methods: i) Lot-for-Lot ii) Wagner-Whitin algorithm iii) Fixed order quantity
Objectives of Inventory Control in Procter & Gamble.
The seasonal demand for a particular product is given below: Period 1 2 3 4 5 6 Demand 300 450 100 450 450 100 The fixed parameters are: Fixed Cost $8 Unit Production Cost $1 Holding Cost $ 1.3 Calculate total ordering cost using following three methods: i) Lot-for-Lot ii) Wagner-Whitin algorithm iii) Fixed order quantity Which method you will chose to order and why? Please do fast... ASAP... do fast
The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Meow, Inc. for an operating period. Units Unit Total Units Cost Cost Sold Beginning Inventory 50 $62 $3,100 Sale No. 1 40 Purchase No. 1 30 50 1,500 Sale No. 2 32 Purchase No. 2 40 44 1,760 Totals 120 $6,360 72 Assuming Meow, Inc. uses LIFO perpetual inventory procedures, the ending inventory cost is:
EOQ, reorder point, and safety stock Alexis Company uses 937units of a product per year on a continuous basis. The product has a fixed cost of $44 per order, and its carrying cost is $4 per unit per year. It takes 5 days to receive a shipment after an order is placed, and the firm wishes to hold 10 days' usage in inventory as a safety stock. a. Calculate the EOQ. b. Determine the average level of inventory. (Note: Use a 365-day year to calculate daily usage.) c. Determine the reorder point. d. Indicate which of the following variables change if the firm does not hold the safety stock: (1) order cost, (2) carrying cost, (3) total inventory cost, (4) reorder point, (5) economic order quantity.
Weiss’s paint store keeps an inventory of white latex paint product in the gallon size. The manager reviews the stock level every 4 months. Demand is observed to be normally distributed with a monthly mean of 28 gallons and a standard deviation of 8. Re-supply lead time is 2.5 months. The store manager targets a 98 percent in-stock probability during the lead time. • What is the target inventory position?
1. Determine the inventory order quantity for Diamant’s distributor.2. Compare the optimal order quantity with a seasonally adjusted forecast for demand. Doesthe order quantity seem adequate to meet the seasonal demand pattern for Diamonds(i.e., is it likely that shortages or excessive inventories will occur)?
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
Josie Gall's firm has developed the supply, demand, cost, and inventory data that follow. Supply Available Period 1 2 3 Regular Time 40 35 40 Overtime 15 15 15 Subcontract 10 10 10 Demand Forecast 30 units $100 $150 $200 $6 50 65 55 Initial inventory Regular-time cost per unit Overtime cost per unit Subcontract cost per unit Carrying cost per unit per month Assume that the initial inventory has no holding cost in the first period, and backorders are not permitted. Allocating production capacity to meet demand at a minimum cost using the transportation method, the total cost is (Enter your response as a whole number.)
The seasonal demand for a particular product is given below: Period 1 2 3 4 5 6 Demand 300 450 100 450 450 100 The fixed parameters are: Fixed Cost $8 Unit Production Cost $1 Holding Cost $1.3 Calculate total ordering cost using following three methods: i) Lot-for-Lot ii) Wagner-Whitin algorithm iii) Fixed order quantity Please do fast .. ASAP.. fast
Michigan State figurines Inc. sells Crystal figurines to spartan fans. They buy the figurines from the manufacture for $19 per unit. They send orders electronically to the manufacturer, cost and $33 per order and they experience an average sleep time of six days for each order to arrive from the manufacture. Their inventory Karen cost is 20%. The average daily demand for the figurines is two units per day. They are open for business 250 days a year. Answer the following questions. I am struggling with the last two.
Bakery A sells bread for $2 per loaf that costs $0.50 per loaf to make. Bakery A gives an 80% discount for its bread at the end of the day. Demand for the bread is normally distributed with a mean of 300 and a standard deviation of 30. What order quantity maximizes expected profit for Bakery A? (use the normal distribution table posted on Canvas and round up to the nearest integer)

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