Sweet Sweet Lisa stocks a variety of handcrafted bon-bons that feature fillings made from her hobby farm in eastern Oklahoma County. The blackberry jam is popular, as is the strawberry and peach varieties. This summer, she believes she can take the market for two new varieties, okra and kitty litter. She has 5,600 different SKUs in her most recent catalog. In June, her customer base ordered 2,500 of these items and she was able to fulfill 600 of her orders. What is her stockout probability? Report your answer to the hundredths place wer
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- Sanjana's Sweet Shoppe operates on the boardwalk of a New England coastal town. The store only opens for the summer seaso the business is heavily dependent on the weather and the economy in addition to new competition. Sanjana Sweet, the owner, prepares a budget each year after reading long-term weather forecasts and estimates of summer tourism. The budget is a first ste planning whether she will need any loans and whether she needs to consider adjustments to store staffing. Based on expertise ar experience, she develops the following. Scenario Good Fair Poor Gross Margin per Customer (Price Cost of Poor Fair Good Poor Fair Good Poor Fair Good Sanjana assumes, for simplicity, that the gross margin and the estimated number of customers are independent. Thus, she has nine possible scenarios. In addition to the cost of the products sold, Sanjana estimates staffing costs to be $31,000 plus $2 for every customer in excess of 26,000. The marketing and administrative costs are estimated to be…As the bakery manager at the local grocery store, Donald monitored the mix of products most popular with consumers. Just two years earlier, this store sold eight loaves of bread for each package of buns sold. Today, the ratio is closer to six to one, bread to buns. Donald isn't sure why tastes or buying behavior have changed, but it's significant, so his purchasing behavior has changed accordingly. For the year just ended, the bakery department budgeted for sales of 10,200 loaves of bread and 1,800 packages of buns. Actual sales were 9,900 loaves of bread and 1,100 packages of buns. Budgeted selling price and variable cost per unit for each were as follows. Bread Buns Budgeted selling price $2.00 $2.80 Budgeted variable cost 0.60 1.00 Budgeted contribution margin $1.40 $1.80 This year, the bread actually sold for $2.07 per loaf, while the package of buns sold for $2.92. (a1) (b1) Determine the sales mix and sales quantity variances for the bakery this period, specifying the amount and…May Company produces a variety of labels, including iron-on name labels, which are sold to parents of camp-bound children. (The camps require campers to have their name on every article of clothing.) Each roll consists of 25 yards of paper strip with 1,000 copies of the child’s name. Each yard of paper strip costs $0.30. Manning has budgeted production of the label rolls for the next four months as follows: Rolls in Units March 20,000 April 60,000 May 100,000 June 12,000 Inventory policy requires that sufficient paper strip be in ending monthly inventory to satisfy 20 percent of the following month’s production needs. The inventory of paper strip at the beginning of March equals exactly the amount needed to satisfy the inventory policy. Required 1. Prepare a direct material purchases budget for March, April, and May showing purchases in units and in dollars for…
- Sandra owns a small manufacturing company, Tamarisk Camping Stuff Co. The company has been working to perfect a lightweight plastic material to be used for a variety of camping products. Sandra plans to enter the marketplace with a durable, lightweight folding table. Similar tables regularly sell for $39-$44 for a 6-foot table, so Sandra realizes that she'll have to stay within that range. She believes her table could sell on the higher end of this range, however, so she is using a target selling price of $44 for planning purposes. Sandra needs to generate an ROI of at least 20% on her invested assets to make this worthwhile in the long term. Her invested assets are $800,000, and she expects to sell 5,000 tables in her first year of activity. (a) Calculate the target cost for one table. Target cost for one table $ (b1) eTextbook and Media Text 12 Attempts: 1 of 1 used If the SG&A portion of that unit cost is estimated to be $7, how much does that leave for the product cost per unit?…Wildhorse's Wind Toys manufactures decorative kites, banners, and windsocks. During the month of January, Wildhorse received orders for 5,000 Valentine's Day banners and 1,300 Easter kites. Because several sewing machines are in the shop for repairs, Wildhorse's has only 1,200 sewing machine hours available for production of these orders. Each Valentine's Day banner sells for $11.00. The banners take one hour to sew and have a total variable cost of $9.00 per banner. The Easter kites sell for $15.00. They take 30 minutes to sew and have a total variable cost of $12.00. (a) With only 1,200 sewing machine hours available, how many units should Wildhorse produce for the below items? Kites Banners Based on your calculations above, which products should Wildhorse prioritize for production in January?Payton Bags (PB) is a designer of high-quality backpacks and purses. Each design is made in small batches. Each spring, PB comes out with new designs for the backpack and for the purse. The company uses these designs for a year and then moves on to the next trend. The bags are all made on the same fabrication equipment that is expected to operate at capacity. The equipment must be switched over to a new design and set up to prepare for the production of each new batch of products. When completed, each batch of products is immediately shipped to a wholesaler. Shipping costs vary with the number of shipments. Budgeted information for the year is as follows: 1(Click the icon to view the budgeted information.) Read the requirements2. Requirement 1. Identify the cost hierarchy level for each cost category. Cost Cost Hierarchy Level Direct materials—purses (1) Direct materials—backpacks (2) Direct labor—purses (3) Direct…
- Timothy Donaghy has developed a unique formula for growing hair. His proprietary lotion, used regularly for 45 days, will grow hair in bald spots (with varying degrees of success). Timothy calls his lotion Hair-Again and is selling it via the telephone and Internet. His major form of marketing is through 15-minute infomercials and Internet advertising. Timothy sells each 16-ounce bottle of Hair-Again for $15 and pays a commission of 3 percent of sales to telephone operators who field the 1-800 phone calls from potential customers. Fixed marketing expenses for each quarter of the coming year include: Internet banner ads $7,600 Telephone operator time 5,000 Travel 3,000 In addition, early next year Timothy intends to film and show infomercials on television. He expects the cost to be $12,000 in quarters 1 and 2, and that the cost will rise to $25,000 in each of quarters 3 and 4. Timothy expects the following unit sales of Hair-Again: Quarter 1 5,000 Quarter 2 15,000…Amber, owner of Amber’s Flowers and Gifts, produces gift baskets for various special occasions. Each giftbasket includes fruit or assorted small gifts (e.g., a coffee mug, deck of cards, novelty cocoa mixes, scentedsoap) in a basket that is wrapped in colorful cellophane. Amber has estimated the following unit sales of thestandard gift basket for the rest of the year and for January of next year.September 260October 250November 270December 350January 170Amber likes to have 5% of the next month’s sales needs on hand at the end of each month. This requirement was met onAugust 31. Two materials are needed for each fruit basket:Fruit 2 poundsSmall Gifts 4 itemsThe materials inventory policy is to have 5% of the next month’s fruit needs on hand and 30% of the next month’sproduction needs of small gifts. (The relatively low inventory amount for fruit is designed to prevent spoilage.) Materialsinventory on August 31 met this company policy.1. Prepare a production budget for September,…A local manufacturer of Toys produces several toys. Among the most popular is Elsa Doll. Suppose that there are currently 100 Elsa Doll in inventory and that there are customer orders that have been committed and must be filled Suppose that a production lot size of 150 Elsa Dols. The weekly forecasts for the eight weeks are 176, 172, 50, 130, 40, 120, 132, and 135 respectively. The customer orders for wecks1,2 3 through B are the 80, 86, 25, 65,20, 51, 0, 0 respectively. Using the standard principles of Master Production Schedule (MPS) along with Awailable-To-Promise (ATP) for the Fisa Dolls, what is the Available to promise (AIP) level in week 6 Select one O a 79 Ob. None is correct Oc. 162 Od 150 Oe 39
- Ten years ago, Judy Kaplan lost her marketing position due to a merger and was looking for a new job. As she discussed her search with Marty and Angela Curry, they realized she might be the perfect partner for their new business. For the last six years, the Curry’s had made and sold six different flavors of pickled garlic at local festivals. People who tried the product really seemed to like it. They had made the decision to go into the pickled garlic business full-time, but needed about $20,000 more to actually make the final move. Kaplan looked at their business plan and agreed to become a partner in the business. One of the first problems the partnership experienced was over pricing. Kaplan wanted to price the bottled garlic high enough so her money would earn the interest it would have received (10%) if she had left it in her investment account. The Curry’s wanted to set a low price so that they could acquire loyal customers. In its first year of operation, the company sold 8,000…Hh1. AccountKathy’s Kettle Potato Chips produces gourmet chips distributed to chain sub shops throughout California. To ensure that their chips are of the highest quality and have taste appeal, Kathy has a rigorous inspection process. For quality control purposes, Kathy has a standard based on the number of pounds of chips inspected per hour and the number of pounds that pass or fail the inspection. Kathy expects that for every 1,000 pounds of chips produced, 200 pounds of chips will be inspected. Inspection of 200 pounds of chips should take 1 hour. Kathy also expects that 1% of the chips inspected will fail the inspection. During the month of May, Kathy produced 113,000 pounds of chips and inspected 22,300 pounds of chips in 120 hours. Of the 22,300 pounds of chips inspected, 215 pounds of chips failed to pass the inspection. Q. Compute two variances that can be used to evaluate the percentage of the chips that fails the inspection