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MindTap Business Statistics for Ragsdale's Spreadsheet Modeling & Decision Analysis, 8th Edition, [Instant Access], 2 terms (12 months)
8th Edition
ISBN: 9781337274876
Author: Cliff Ragsdale
Publisher: Cengage Learning US
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Chapter 4, Problem 1QP
Summary Introduction
To determine: The person who is right and justify the reason.
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Given information:
![MindTap Business Statistics for Ragsdale's Spreadsheet Modeling & Decision Analysis, 8th Edition, [Instant Access], 2 terms (12 months), Chapter 4, Problem 1QP](https://content.bartleby.com/tbms-images/9781305947412/Chapter-4/images/47412-4-1qp_image_001.png)
Person H’s accountant argues that the AS requires 9 labor hours and the profit margin should be $144 less. Similarly, HL requires 6 labor hours and the profit margin should be $96 less.
Determine the person who is right and justify the reason:
According to the given information, the numbers of Person H is correct and the argument of Person H’s accountant is wrong. This is because, the
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Students have asked these similar questions
Please include an excel sheet showing calculations
A company blends and bottles an energy drink in various flavors for college students. The aggregate forecast for the next four quarters (1 year) in thousands of gallons is as follows:
Quarter Demand forecast per 1000 gallons
1 4002 7003 8504 650Each employee works 550 standard straight-time hours each quarter.
On average, it takes 27 hours to produce and package 1 unit (1,000 gallons).
Straight-time labor costs $6.00/hour; overtime labor costs $9.00/hour.
Inventory holding cost is approximately $4.50/unit (1,000 gallons) per quarter, based on ending inventory per quarter.
Due to the extremely hot weather, there is no initial inventory on hand to start the first quarter.
Management wants a constant workforce (no hiring and no layoffs).
Managers have also decided to always round the number of employees needed to the next integer, i.e., 37.2 yields 38 employees.
Using a level strategy program, what will the annual labor cost be if only 30 employees are available and overtime is used?
A manager uses this equation to predict demand for landscaping services: Ft= 10 + 5t
Over the past eight periods, demand has been as follows:
Period, t: 1
Demand:
15
2
21
Period, t Tracking signal
1
2
3
4
5
6
7
8
3
23
30
5
32
6
38
42
Click here for the Excel Data File
Compute the tracking signals for Periods 1-8. (Negative values should be indicated by
a minus sign. Round your intermediate calculations and final answers to 3 decimal
places.)
8
47
Chapter 4 Solutions
MindTap Business Statistics for Ragsdale's Spreadsheet Modeling & Decision Analysis, 8th Edition, [Instant Access], 2 terms (12 months)
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