The following data represent the beginning inventory and, in order ofoccurrence, the purchases and sales of Meow, Inc. for an operatingperiod.Units UnitTotalUnitsCostCostSoldBeginning Inventory50$62 $3,100Sale No. 140Purchase No. 130501,500Sale No. 232Purchase No. 240441,760Totals120$6,36072Assuming Meow, Inc. uses LIFO perpetual inventory procedures, theending inventory cost is:

Date Unit Unit Cost Total Cost Beginning Inventory 8.00 62.00 496.00 Purchase…

Answered: The following data represent 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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Given that: Sales = $300,000,000 Transportation cost = $15,000,000 Warehousing cost = $4,000,000 Inventory carrying cost rate (W) = 30% Cost of goods sold = $95,000,000 Other operating costs = $55,000,000 Average Inventory (AI) = $15,000,000 Accounts receivable = $35,000,000 What is the total operating cost? Group of answer choices 56,500,000 48,500,000 75,500,000 78,500,000 68,500,000
define the ABC approach to inventory management Several metrics can be used to identify an A-status:explain?
what is an example of a latent demand
Explain the following based on Demand Management Demand Management Independent Demand Dependent Demand Random Variations Safety Stocks
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.)
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.
Kooyman hardware sells 31 different types of drills. They had demand for 25 of the drills and satisfied 78 percent of the demand. What was their fill rate for drills? % ( Do not round intermediate calculations.
Jim's Job Shop buys two parts (Tegdiws and Widgets) for use in its production system from two different suppliers. The parts are needed throughout the entire 52-week year. Tegdiws are used at a relatively constant rate and are ordered whenever the remaining quantity drops to the reorder level. Widgets are ordered from a supplier who stops by every three weeks. Data for both products are as follows: a. What is the inventory control system for Tegdiws? Reorder quantity = 1,225 Reorder point = 824.24 b. Find the total inventory costs if using inventory policy. This is a case considering safety stock (Do not use Excel, show your work) Holding cost per unit per year is given as a percentage of item cost ITEM TEGDIW WIDGET Annual Demand 10,000 5,000 Holding cost (% of item cost) 20% 20% Set up or order cost $150.00 $25.00 Lead Time 4 weeks 1 week Safety stock 55 units 5 units Item cost $10.00 $2.00
The following lots of a particular commodity were available for sale during the year Beginning inventory 9 units at $47 First purchase 15 units at $50 Second purchase 20 units at $21 Third purchase 18 units at $58 The firm uses the periodic system, and there are 27 units of the commodity on hand at the end of the year. What is the ending inventory balance at the end of the year rounded to nearest dollar according to the average cost method? Do not round intermediate calculations. a.$1,269 b.$1,233 c.$1,323 d.$1,148
1) Assume that you are a manager of one of the hotels in the UAE. As you know, UAE has an excellent weather from October to April, so the room occupancy rate is high during this period. However, the occupancy rate becomes low during the period from May to September due to the hot weather and this happens every year. Based on the above information: 1- What is type of demand state that you face in this situation? Explain it? 2- And explain how can you manage this demand state in detail? 2) In this course, you were requested to provide relevant recommendations to intensive growth strategies for a selected hotel of your choice in the UAE, write a report to explain each one of them and show their relevant recommendations as follows: 1- Market penetration strategy (explain and write recommendations) 2- Market development strategy (explain and write recommendations) 3- Product development strategy (explain and write recommendations) 4- Related diversification strategy (explain and write…
Ram Roy's firm has developed the following supply, demand, cost, and inventory data. Supply Available Period 1 W N 3 Regular Time 30 35 40 Overtime 15 15 20 Initial inventory Regular-time cost per unit Overtime cost per unit Subcontract 10 10 10 Subcontract cost per unit Carrying cost per unit per month 20 units $100 $160 $250 $2 Demand Forecast 40 55 60 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).
Algro Inc. keeps a wide range of parts and materials on hand for use in its production processes. Management has recently had difficulty managing parts inventory as demand for its finished goods has increased; they frequently run out of some critical parts while having an endless supply of others. They would like to classify their parts inventory according to the ABC approach to better control inventory. The following is a list of parts, along with their annual usage and unit value: Item Annual Unit Item Annual Unit Number Usage Cost Number Usage Cost 1 36 $350 2 510 30 3 50 23 4 300 45 5 18 1900 6 500 8 7 710 4 8 80 26 9 344 28 10 67 440 11 510 2 12 682 35 13 1216 95 50 14 10 3 15 820 1 KARAN2222222222 16 60 $610 17 120 20 18 270 15 19 45 50 20 19 3200 21 910 3 12 4750 23 30 2710 24 24 1800 25 870 105 26 244 30 27 750 15 28 45 110 29 46 160 30 165 25 a. Classify the inventory items according to the ABC approach using the dollar value of annual demand. b. Clearly explain why you…

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