Jack Jones, the materials manager at Precision Enterprises, is beginning to look for ways to reduce inventories. A recent accounting statement shows that the inventoryinvestment for raw materials is $3,770,600, for work-in-process is $7,074,000, and for finished goods is $2,866,000. This year's cost of goods sold will be about $32,396,000.Assume that there are 52 business weeks per year.a. Express total inventory as weeks of supply.The weeks of supply isb. Express total inventory as inventory turns.The inventory turnover isweeks. (Enter your response rounded to one decimal place.)turns per year. (Enter your response rounded to one decimal place.)

Inventory management is a pivotal aspect of supply chain and business operations. It involves the…

Answered: a. Express total inventory as weeks of…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

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Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Jack Jones, the materials manager at Precision Enterprises, is beginning to look for ways to reduce inventories. A recent accounting statement shows that the inventory investment for raw materials is $4,100,400, for work-in-process is $6,538,000, and for finished goods is $2.964,000. This year's cost of goods sold will be about $18,148.000. Assume that there are 52 business weeks per year a. Express total inventory as weeks of supply. The weeks of supply is weeks. (Enter your response rounded to one decimal place.) b. Express total inventory as inventory tums. The inventory turnover is turns per year. (Enter your response rounded to one decimal place.)
The owner of a large machine shop has just finished its financial analysis from the prior fiscal year. The following is an excerpt from the final report Net revenue $ 343,000 Cost of goods sold 302,000 Value of production materials on hand 42,500 Value of work-in-progress inventory 69,000 Value of finished goods on hand 28,000 Compute the inventory turnover ratio (ITR). (Round 1 decimal place) Compute the weeks of supply (WS) (Do not round immediate calculation. Round 1 decimal place)
The owner of a large machine shop has just finished its financial analysis from the prior fiscal year. Following is an excerpt from the final report: Net revenue $375,000 Cost of goods sold 322,000 Value of production materials on-hand 42,500 Value of work-in-process inventory 37,000 Value of finished goods on-hand 12,500 Compute the inventory turnover ratio (ITR). Note: Round your answer to 1 decimal place. Compute the weeks of supply (WS). Note: Do not round intermediate calculations. Round your answer to 1 decimal place.
Last Year Sales $208,000 $221,000 Cost of goods sold 106,000 116,000 Gross margin 102,000 105,000 Other expenses 49,000 49,000 Net income 53,000 56,000 Finished goods inventory 2,700 5,000 Work-in-process inventory 11,000 8,000 Raw material inventory 5,500 7,000 Total inventory (average for year) 19,200 20,000 Other current assets 93,000 109,000 Other assets 210,000 249,000 Total assets 322,200 378,000 ^THIS YEAR The plant manager, Murat Kristal, at York Technologies makes Aircraft Navigation Systems. He expects you, as the new OM analyst, to provide some insight for performance of the plant. High on his list is an understanding of his inventory…
Last Year Sales $208,000 $221,000 Cost of goods sold 106,000 116,000 Gross margin 102,000 105,000 Other expenses 49,000 49,000 Net income 53,000 56,000 Finished goods inventory 2,700 5,000 Work-in-process inventory 11,000 8,000 Raw material inventory 5,500 7,000 Total inventory (average for year) 19,200 20,000 Other current assets 93,000 109,000 Other assets 210,000 249,000 Total assets 322,200 378,000 ^THIS YEAR The plant manager, Murat Kristal, at York Technologies makes Aircraft Navigation Systems. He expects you, as the new OM analyst, to provide some insight for performance of the plant. High on his list is an understanding of his inventory…
The following data are pulled from a recent Walsh Manufacturing annual report. Assets Raw material inventory $120,000 Work-in-process inventory $50,000 Finished goods inventory $300,000 Property, plant & equipment $500,000 Other assets $200,000 Total assets $1,170,000 Condensed Income Statement Revenue $2,000,000 Cost of goods sold $600,000 Other expenses $1,000,000 Net income $400,000 Using the data above calculate: (a) Percent invested in inventory, (b) Inventory turnover, and (c) Weeks of supply. NOTE: please give me the answer within 2 hours only.Thank you
Jack Jones, the materials manager at Precision Enterprises, is beginning to look for ways to reduce inventories. A recent accounting statement shows the following inventory investment by category: raw materials, $3,129,500; work-in-process, $6,237,000; and finished goods, $2,686,500. This year’s cost of goods sold will be about $32.5 million. Assuming 52 business weeks per year, express total inventory asa. Weeks of supplyb. Inventory turns
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a. Express total inventory as weeks of supply. The weeks of supply is weeks. (Enter your response rounded to one decimal place.) b. Express total inventory as inventory turns. The inventory turnover is turns per year. (Enter your response rounded to one decimal place.)