6 Ram Roy's firm has developed the following supply, demand, cost, and inventory data.Supply AvailableRegularDemandPeriodTimeOvertimeSubcontractForecast4015104030105540151055Initial inventoryRegular-time cost per unitOvertime cost per unit20 units$100$160$200$4Subcontract cost per unitCarrying cost per unit per monthAssume that the initial inventory has no holding cost in the first period and backorders are not permitted.Allocating production capacity to meet demand at a minimum cost using the transportation method, the total cost is $ 13500 (enter your response as a whole number).555-23

Find the Given data below: Given details: Period 1 Period 2 Period 3 Demand 40 55 55…

Answered: Ram Roy's firm has developed the…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

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

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The annual demand for an automobile part is 3200 units. The unit cost is 60 OMR and inventory carrying charge is 25% of unit cost. Ordering cost is 20 OMR per order. (i) Determine the economic order point (ii) If you place an order for 110 units every time, is it profit or loss? How much and Why? (iii) Why demand forecasting is important for an organization? Compare qualitative and quantitative forecasting technique with an example.
21- Which one of the following represent FIFO method of inventory evaluation? a. Old items remain in inventory b. Old merchandise is sold first c. New merchandise is sold first d. Average number of goods are sold
The following lots of a particular commodity were available for sale during the year Beginning inventory 7 units at $49.00 First purchase 18 units at $54.00 Second purchase 25 units at $59.00 Third purchase 14 units at $59.00 The firm uses the periodic system, and there are 23 units of the commodity on hand at the end of the year. What is the amount of inventory at the end of the year according to the FIFO method? Select the correct answer. $1,127.00 $1,357.00 $3,616.00 $3,593.00
can you please help me answer this question.... Rebar Company prepared the following analysis of its year-end inventory on December 31. First, determine the total lower of cost or market value for each product in Rebar Company's inventory. Second, prepare the journal entry needed at year-end to value the inventory at LCM, if applicable. Historical Cost Replacement Cost Product Quantity per unit per unit A 17 $430 $499 B 140 325 299 C 38 75 69
Michael’s Offi ce Supply (MOS) sells offi ce furniture,equipment, and supplies. Th is week the company has received 50customer orders. Each order has an average of fi ve line items. Th eaverage dollar amount of each order is $1200. MOS was able toship 47 of the 50 orders on schedule.(a) Using the percentage of orders shipped on time, calculatethe customer service level.(b) If Michael’s calculates customer service level by using thepercentage of line items shipped on schedule, how manyline items must be shipped to achieve the same customerservice level calculated in part (a)?(c) If Michael’s calculates customer service level by thepercentage of dollar volume shipped, how many dollarsof product must be shipped to achieve the same customerservice level calculated in part (a)?(d) What factors determine the customer service levelmeasure that MOS should use?
9 Cindy’s favorite product in the store is the carrot cookie. Healthy Goods started selling carrot cookies just a few months ago, and they have not kept track of the sell out data. Cindy has been chatting with a few of the cashiers to get a sense of the overall demand for carrot cookies. The cashiers told her the store usually sells around 100 carrot cookies per week, although during the best selling week they can recall 204 carrot cookies were sold, and during a bad week only 49 cookies were sold. If they plan to have 85 cookies in inventory every week, what would be the probability of not fulfilling all the weekly demand?
Thinking tools service assembles customized personal computers from generic parts. Formed and operated by part-time Svci students paulette cruz and maureen luis, the company has had steady growth since it started. The company assembles computers mostly at night, using part time students. Paulette and Maureen purchase generic computer parts in volume at a discount from a variety of sources whenever they see a good deal. Thus, they need a good forecast of demand for their computers so that they will know how many parts to purchase and stock. They have compiled demand data for the last 12 months as reported below A. Use exponential smoothing with smoothing parameter a=0.2 to compute the demand forecast for january (period 13) B. Use exponential smoothing with smoothing parameter a=0.5 to compute the demand forecast for january (period 13). C. Paulette believes that there is an upward trend in the demand, the initial forecast is 37 and the trend over this period is 0 units. Use…
is used by traders to record the yearly profits & losses of the business. * General book Correspondence Inventory book Daybook
Knowing how to use the ABC analysis, make up a list of 10 items in a stores inventory, then decide which 10 items sold at the store would constitute 80% of the revenue and create a Word document using the ABC analysis.
Demand forecasting and planning is not a part of inventory management function. Select one : 1.True 2.Fales
A firm is faced with the attractive situation in which it canobtain immediate delivery of an item it stocks for retailsale. The firm has therefore not bothered to order the item in any systematic way. However, recently profits have beensqueezed due to increasing competitive pressures, and thefirm has retained a management consultant to study itsinventory management. The consultant has determined thatthe various costs associated with making an order for theitem stocked are approximately $70 per order. She has alsodetermined that the costs of carrying the item in inventoryamount to approximately $27 per unit per year (primarilydirect storage costs and forgone profit on investment ininventory). Demand for the item is reasonably constantover time, and the forecast is for 16,500 units per year.When an order is placed for the item, the entire order isimmediately delivered to the firm by the supplier. The firm operates 6 days a week plus a few Sundays, or approxi-mately 320 days per year.…
In determining open-to-buy, what is subtracted from planned purchases? O On hand On order EOM stock BOM stock Question 37 Your department is planning a 10 percent increase in sales for the entire three- month period (February-April). Sales for the period last year were $19,000. Fifty percent of the total planned sales are projected to occur in March, and 25 percent of sales are planned to occur in each of the other two months. Planned stock-sales ratio for each month is 2.0. Total planned reductions for the period are 5 percent of planned sales. Reductions are projected to occur for each month as follows: February (10 percent), March (40 percent), and April (50 percent). An ending inventory of $5,000 is planned for the period. PLANNED PURCHASES FOR FEBRUARY ARE: O $24,200 O $15.779 O None (overbought). $10.895.50

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