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What is the BOM stock needed for the shoe department for April if the sales are planned at $64,000 and the stock to sales ratio is 18.3?
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- Navajo Company's year-end financial statements show the following. The company recently discovered that in making physical counts of inventory, it had made the following errors: Year 1 ending inventory is understated by $69,000 and Year 2 ending inventory is overstated by $39,000. For Year Ended December 31 (a) Cost of goods sold (b) Net income (c) Total current assets (d) Total equity Year 1 $ 744,000 Year 2 $ 974,000 287,000 1,266,000 1,406,000 294,000 1,379,000 1,599,000 Year 3 $ 809,000 269,000 1,249,000 1,264,000 Required: 1. For each key financial statement figure-(a), (b), (c), and (d) above-prepare a table to show the adjustments necessary to correct the reported amounts. 2. What is the total error in combined net income for the three-year period resulting from the inventory errors? Complete this question by entering your answers in the tabs below. Required 1 Required 2 For each key financial statement figure-(a), (b), (c), and (d) above-prepare a table to show the adjustments…If Exxon uses FIFO for its inventory valuation, calculate the cost of ending inventory and cost of goods sold if ending inventory is 110 barrels of crude oil. Beginning inventory and purchases Barrels Barrel cost Total cost Beginning inventory: Jan 1 129 $ 96 $ 12,384 March 1 54 102 5,508 June 1 69 99 6,831 September 1 79 91 7,189 December 1 54 104 5,616 385 $ 37,528 Cost of ending inventory Cost of goods soldIn preparing for the upcoming holiday season, Fresh Toy Company (FTC) designed a new doll called The Dougie that teaches children how to dance. The fixed cost to produce the doll is $100,000. The variable cost, which includes material, labor, and shipping costs, is $33 per doll. During the holiday selling season, FTC will sell the dolls for $41 each. If FTC overproduces the dolls, the excess dolls will be sold in January through a distributor who has agreed to pay FTC $10 per doll. Demand for new toys during the holiday selling season is uncertain. The normal probability distribution with an average of 60,000 dolls and a standard deviation of 15,000 is assumed to be a good description of the demand. FTC has tentatively decided to produce 60,000 units (the same as average demand), but it wants to conduct an analysis regarding this production quantity before finalizing the decision. (a) Create a what-if spreadsheet model using formulas that relate the values of production quantity,…
- Rochor & Co has the following sales forecast for the next quarter: April, 20,000 units; May, 24,000 units; June, 28,000 units. Sales totalled 16,000 units in March. The March finished goods inventory was 4,000 units. End-of- month finished goods inventory levels are planned to be equal to 20 percent of the next month's planned sales. How many units would be produced in April? Group of answer choices 20,000 units 20,800 units 5,600 units 4,800 unitsAssume you are the manager of a shop that assembles power tools. You have just received an order for 55 chain saws, which are to be shipped at the start of week 8. Pertinent information on the saws follows: Item Lead Time (weeks) On Hand Saw A B C D E F 2 1 2 2 1 1 2 Gross requirements Scheduled receipts Projected on hand Net requirements Planned order receipt Planned order release Ĉ E(3) & E(2) LT = 1 week Lot size: Lot-for-Lot 15 10 5 65 20 10 30 Skip Extension Tip: Double click to open in new tab Show Transcribed Text Develop the material requirements plan for component E using lot-for-lot ordering for all items. (Leave no cells blank - be certain to enter "0" wherever required.) Components A(2), B(1), C(4) E(3), D(1) D (2), F(3) E(2), D (2) Beg. Inv. 1 2 3 190 5 210 6The table above provides the aggregate plan of production by a firm. It is known that the firm uses a level plan with lost sales, i.e., without backorders. Given this information, what is the number in the cell that says xx?
- You work for the Brad's Nailer Company which manufactures two types of nailers: a pneumatic model and a cordless model. You have contracted to supply a national retail chain with both pneumatic nailers and cordless nailers. However, Brad's nailer production capability is limited in three departments: production, testing, and packaging. Your answer will be the production costs needed to execute your production plan - rounded to the nearest whole dollar. (The number of nailers may not be a whole number, which is acceptable in this chapter.) Use Scenario 3 Scenario 1 Scenario 2 Scenario 3 Pneum. Cost 38.50 Pneum. Prod Hrs 0.25 Pneum. Test Hrs 0.4 Pneum. Pkg Hrs 0.1 Pneum. Sales 18,000 Cordless Cost 44 Cordless Prod Hrs 0.4 Cordless Test Hrs 0.4 Cordless Pkg Hrs 0.2 Cordless Sales 14,000 Prod Hrs max 14,000 Testing Hrs max 15,000 Pkg Hrs max 4,800 42 0.3 0.3 0.1 21,000 67 0.3 0.4 0.1 15,000 11.000 15,000 4,800 55.50 0.4 0.3 0.1 24,500 69.75 0.3 0.5 0.1 12,000 14,000 15,000 4,80012. Determine the planned purchases for January (a) at retail and (b) at cost for the lingerie department when the seasonal merchandise plan indicates the following planned figures: Round to the nearest dollar. Sales $88,000 Markdowns 8% BOM Stock $81,000 EOM Stock $66,000 Markup 49%In preparing for the upcoming holiday season, Fresh Toy Company (FTC) designed a new doll called The Dougle that teaches children how to dance. The fixed cost to produce the doll is $100,000. The variable cost, which includes material, labor, and shipping costs, is $29 per doll. During the holiday selling season, FTC will sell the dolls for $37 each. If FTC overproduces the dolls, the excess dolls will be sold in January through a distributor who has agreed to pay FTC $10 per doll. Demand for new toys during the holiday selling season is extremely uncertain. Forecasts are for expected sales of 60,000 dolls with a standar deviation of 15,000. The normal probability distribution is assumed to be a good description of the demand. FTC has tentatively decided to produce 60,000 units (the same as average demand), but it wants to conduct an analysis regarding this production quantity before finalizing the decision. unit production quantity and a more conservative 50,000-unit production…
- 8. If planned sales for the month are $142,000, and the stock-sales ratio is planned at 2.1, what BOM stock is needed to realize this ratio? Round to the nearest dollar.A20Develop a production plan and calculate the annual cost for a firm whose demand forecast is fall, 11,000; winter, 8,000; spring, 6,000; summer, 13,000. Inventory at the beginning of fall is 500 units. At the beginning of fall you currently have 30 workers, but you plan to hire temporary workers at the beginning of summer and lay them off at the end of summer. In addition, you have negotiated with the union an option to use the regular workforce on overtime during winter or spring if overtime is necessary to prevent stockouts at the end of those quarters. Overtime is not available during the fall. Relevant costs are hiring, $100 for each temp; layoff $200 for each worker laid off; inventory holding, $5 per unit-quarter; backorder, $10 per unit; straight time, $5 per hour; overtime, $8 per hour. Assume that the productivity is 0.5 unit per worker hour, with eight hours per day and 60 days per season. a. What is the total cost for this plan?