Frank’s Contract Bakery measured her 2021 Cost of Goods Sold to be 6516265. Her Average Aggregate Inventory Value on raw materials was 2,310,000, work in process (WIP) was 1,500,000 and the finished goods was 1,400,000. Last year Days of Supply is:
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Frank’s Contract Bakery measured her 2021 Cost of Goods Sold to be 6516265. Her Average Aggregate Inventory Value on raw materials was 2,310,000, work in process (WIP) was 1,500,000 and the finished goods was 1,400,000. Last year Days of Supply is:
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- Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. As the Marketing Manager for Southeastern Corrugated, what would you do upon receiving the request for quotation from Coastal Products?Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. Ethical decisions that affect a buyers ethical perspective usually involve the organizational environment, cultural environment, personal environment, and industry environment. Analyze this scenario using these four variables.Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What should Sharon do in this situation?
- Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What does the Institute of Supply Management code of ethics say about financial conflicts of interest?Kwame after his National Service and with no hope of securing a job in the formal sector has decided to run a taxi service. The following forecast has been made for the operation of a service between Abisim and Sunyani. i) Revenue totaling GH¢300 a week for 52 weeks in a year. This is net of fuel and other variable costs. ii) Tyres; four pieces for a year at GH¢120 per unit. iii) Maintenance and servicing; GH¢120 per month. iv) Salaries GH¢3,000 per year v) Insurance GH¢350 per year The net cash flow will increase at 5% per annum for the next five years due to inflation. The cost of the vehicle is estimated at GH¢28,000. The project appears quite profitable based on the NPV criteria using the Government policy rate of 26%. However the banks are offering rates far higher than the policy rate. Required: You are to calculate the break-even rate for the project.The Ashton Furniture Company manufactures coffee tablesand chest of drawers. Last year the company’s cost ofgoods sold was $3,700,000, and it carried inventory of oak,pine, stains, joiners, and brass fixtures, work-in-process offurniture frames, drawers and wood panels, and finishedchests and coffee tables. Its average inventory levels for a52-week business year were as follows. Determine the number of inventory turns and the days ofsupply for the furniture company. Raw Materials Average Inventory Unit CostOak 8000 $6.00Pine 4500 4.00Brass fixtures 1200 8.00Stains 3000 2.00Joiners 900 1.00Work-in-ProcessFrames 200 $30Drawers 400 10Panels 600 50Chests 120 110Tables 90 90Finished GoodsChests 300 $500Coffee tables 200 350
- 10.1. The Fizer Drug Company manufactures over-the-counter and prescription drugs. Last year the company’s cost of goods sold was $470 million. It carried average raw material inventory of $17.5 million, average work-in-process of $9.3 million, and average finished goods inventory of $6.4 million. The company operates 365 days per year. Compute the company’s inventory turns and days of supply for last year.Demand for stereo headphones and MP3 players for joggers has caused Nina Industries to grow almost 50 percent over the past year. The number of joggers continues to expand, so Nina expects demand for headsets to also expand, because yet, no safety laws have been passed to prevent joggers from wearing them. Demand for the players for last year was as follows: MONTH DEMAND (UNITS) January 4,220 February 4,320 March 4,020 April 4,420 May 5,020 June 4,720 July 5,320 August 4,920 September 5,420 October 5,720 November 6,320 December 6,020 Using linear regression analysis, what would you estimate demand to be for each month next year? (Round two decimal places) To be reasonably confident of meeting demand, Nina decides to use 3 standard errors of estimate for safety. How many additional units…The current data for five trees that will be analyzed in the exercise are shown in the following table Expected Yearly Demand Quantity For Sale In-Field Quantity 440 74 Trees Christmas Palm Washingtonia Gumbo Limbo Yellow Poinciana Weeping Podo 81 165 159 49 185 Trees Christmas Palm Washingtonia Std Dev 31 155 35 32 68 Gumbo Limbo Yellow Poinciana The "expected yearly demand" is an estimate of the demand over the next year for the tree. The "std dev" is the standard deviation, a measure of the error, that corresponds to the forecast. For-sale and in-field quantities are given, and finally the total number of trees planted on the farm. The demand forecast and quantities are updated on an ongoing basis as trees are sold and planted on the farm. 374 70 42 290 Your first task is to evaluate the inventory "position" of each tree. The farm does not keep any backorder information, so the only data you have is "for-sale" and "in-field" quantities. Think about "for-sale" as on-hand trees, and…
- Demand for stereo headphones and MP3 players for joggers has caused Nina Industries to grow almost 50 percent over the past year. The number of joggers continues to expand, so Nina expects demand for headsets to also expand, because, as yet, no safety laws have been passed to prevent joggers from wearing them. Demand for the players for last year was as follows: MONTH DEMAND (UNITS) January 4,000 February 4,100 March 3,800 April 4,200 May 4,850 June 4,500 July 5,150 August 4,750 September 5,250 October 5,550 November 6,150 December 5,850 a. Using linear regression analysis, what would you estimate demand to be for each month next year? Using a spreadsheet, follow the general format in Exhibit 3.7. (picture below)(Do not round intermediate calculations. Round your answers to 2 decimal places.) Month Forecast january february march april may june july august september october november decemberDemand for stereo headphones and MP3 players for joggers has caused Nina Industries to grow almost 50 percent over the past year. The number of joggers continues to expand, so Nina expects demand for headsets to also expand, because, as yet, no safety laws have been passed to prevent joggers from wearing them. Demand for the players for last year was as follows: MONTH DEMAND (UNITS) January 4,000 February 4,100 March 3,800 April 4,200 May 4,850 June 4,500 July 5,150 August 4,750 September 5,250 October 5,550 November 6,150 December 5,850 a. Using linear regression analysis, what would you estimate demand to be for each month next year? Using a spreadsheet, follow the general format in Exhibit 3.7. (picture below)(Do not round intermediate calculations. Round your answers to 2 decimal places.) Month Forecast january february march april may june july august september october november december b. To…How to calculate the estimated yearly demand?