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- What is inventory management. Give summary.Required: A. What are the actual and budgeted selling prices? What are the actual and budgeted variable costs per unit?B. Calculate all the required variances and present the variance analysis report.a. ABC reports annual sales of $ 5 million, annual cost of goods sold is $ 2 million. Inventory is $ 0.5 million and net income is $0.75 million. What is ABC 's annual inventory turns ? Show all formulas used, calculations and results. Do on Canvas b. XYZ reports annual sales of $ 5 million, annual cost of goods sold of $ 3 million, inventory of $ 0.5 million and net income of $ 0.75 million. What is the months of supply of inventory ? Show all formulas used, calculations and results.
- A. Markets and Welfare IN THE NEWS How Ticket Resellers Help Allocate Scarce Resources modern twist on a practice that has long been registered as a broker from buying and selling demonized by the public and legislators. Scalping certainly results in some con- sumers paying higher prices than they other- wise wuuld. Bul inu exchange for high prices, them most highly. If someone decides at the consumers can get the tickets they want, when last minute to attend a play, a concert or a they want them, without waiting in line or com- game, they can find tickets at some price. peting to be among the first to buy them online Without scalpers, some people who value the at a given time. Opponents mistakenly con- event highly would be unable to buy tickets for clude that high prices are the fault of scalpers, seats of the quality they desire. when in fact prices are high because of a large Is ticket reselling a scourge ora way to make markets more efficient? tickets for a profit. Scalping…Your new company has decided to use a periodic reviewsystem. You have learned that average weekly demand is 48units per week with a standard deviation of 8 units. You believethat your cycle-service level should be 94 percent. Lead timeis two weeks. Initially, you believe that you should do a reviewevery Friday. Determine the required safety stock and the targetinventory level.(a) How would this procedure change if the cycle-servicelevel needed to be 98 percent?(b) What is the impact of changing the review period fromevery Friday to every other Friday, assuming that thecycle-service level is 94 percent?Genuine Reproductions (GR) plans on increasing nextyear’s sales by 20 percent while maintaining its same averageinventory in dollars of $250,000.(a) Calculate the expected inventory turnover for next year.(b) Calculate the expected weeks of supply.
- Explain what is inventory control and it's objectives?Camille forecasts to sell 575 units of the perfume she is selling by the first week of December. At the end of the 1st week of December, she was able to disposed 500 perfumes at Php150 each. Of these 500 units, she gave a total of 20 giveaways. The total cost for each perfume is Php120. Determine Camille’s net sales volume. * a. 75 b. 480 c. 500 d. 20 2. The amount of your product that you will need to produce and sell to cover total costs of production. * a. Break even sales volume b. Sales volume percentage c. Sales volume1. You are starting a business selling ferrets. • You need a pen and supplies which will cost you $100. Also, each ferret costs $10 each. Fill the table for cost. You will sell the ferrets for $15 each. Fill the table for Money. Plot and graph both lines for Cost and Money Use the provided paper (looks like this), take a picture and submit. 400 Money ($) Cost 0. 10 10 200 20 20 30 30 40 40 50 50 10 20 30 40 50 Edit View Insert Format Tools Table 12pt v Paragraph v BIUA v 8888- Ferrets Bought 888- Ferrets sold Money ($)
- Specialty Toys, Inc., sells a variety of new and innovative children’s toys. Management learned that thepreholiday season is the best time to introduce a new toy, because many families use this time to look fornew ideas for December holiday gifts. When Specialty discovers a new toy with good market potential, itchooses an October market entry date.In order to get toys in its stores by October, Specialty places one-time orders with itsmanufacturers in June or July of each year. Demand for children’s toys can be highly volatile. If a newtoy catches on, a sense of shortage in the marketplace often increases the demand to high levels and largeprofits can be realized. However, new toys can also flop, leaving Specialty stuck with high levels ofinventory that must be sold at reduced prices. The most important question the company faces is decidinghow many units of a new toy should be purchased to meet anticipated sales demand. If too few arepurchased, sales will be lost; if too many are…link of PDF : https://docdro.id/psUSO2n https://docdro.id/KV8USNQ question : 1. According to Weele, why should we measure the purchasing function? 2. According to Weele, what elements in the purchasing function should we measure? 3. According to Weele, the items that we measure determines the role of the purchasing function. List these roles, and show the mapping. 4. According to Simpson and et.al, why should we measure the performance of our suppliers? 5. According to Simpson and et. al, what are the characteristics of our suppliers should we measure? List these down in terms of evaluative criteria and its details.9. Marketing Arrangements Target market, definition of the product or service, pricing, distribution and promotion. 10. Financial Consideration Source of financing, capital cost, pre-operating expenses, working capital requirements, cash budget over three years (estimation of the cash inflows and outflows).