Number 2 pencils at campus bookstore are sold at a fairly steady rate of 60 per week. The pencils cost the book store 2 cents each and sell for 15cents each. It costs the bookstore $12 to initiate an order, and holding costs are based on an annual interest rate of 25%. A. Determine the optimal order quantity minimizing the annual cost and the optimal order quantity minimizing the weekly cost. Compare and analyze these two order quantities. B. Computes average inventory (I) and average inventory flow time (T). C. The store’s inventory flow time will increase (or decrease) as the annual demand R increases. Explain why?
Answers
A. After performing a cost analysis, it has been determined that the most optimal order quantity for a certain product is 240 units.
B. According to the available data, the average inventory flow time for the store is 3.99 weeks.
C. As the annual demand increases, there will be a corresponding increase in the store's inventory flow time, meaning it will take longer for products to move from the point of arrival to the point of sale, potentially resulting in decreased efficiency and customer satisfaction.
A.
To determine the optimal order quantity that minimizes the annual cost, we can use the Economic Order Quantity (EOQ) formula:
\($$ EOQ = \sqrt{\frac{2DS}{H}} $$\)
Where \($D$\) is the annual demand (\($60 \times 52 = 3120$\)), \($S$\) is the cost per order \((\$12\)), and \($H$\) is the holding cost (25% of the item cost, or \($0.25 \times 2$\) cents\($= 0.5$\) cents).
Plugging in the values, we get:
\($$ EOQ = \sqrt{\frac{2 \times 3120 \times 12}{0.005}} = 239.29 $$\)
Therefore, the optimal order quantity that minimizes the annual cost is 239.29, which we can round up to 240.
To determine the optimal order quantity that minimizes the weekly cost, we can use the reorder point formula:
\($$ ROP = dL + \sqrt{d^2L^2 + \frac{2DS}{H}} $$\)
Where \($d$\) is the weekly demand (60),\($L$\)is the lead time (the time it takes to receive an order, assumed to be 0), \($S$\) is the cost per order \((\$12)\), and \($H$\) is the holding cost (25% of the item cost, or 0.5 cents).
Plugging in the values, we get:
\($$ ROP = 60 \times 0 + \sqrt{60^2 \times 0^2 + \frac{2 \times 12 \times 3120}{0.005}} = 240 $$\)
Therefore, the optimal order quantity that minimizes the weekly cost is also 240.
Comparing these two order quantities, we see that they are the same. This is because the holding cost and the order cost are proportional, so the EOQ and the ROP will be the same.
B.
The average inventory is 3.99 Weeks.
The average inventory\(($I$)\) can be calculated using the EOQ formula:
\($$ I = \frac{EOQ}{2} = \frac{239.29}{2} = 119.64 $$\)
The average inventory flow time \(($T$)\) can be calculated as:
\($$ T =\)\(\frac{EOQ}{d} = \frac{239.29}{60} = 3.99 \text{ weeks} $$\)
C.
The store's inventory flow time will increase as the annual demand \(($R$)\)increases. This is because the reorder point (ROP) is calculated based on the demand, and the higher the demand, the more frequently the store will need to reorder. This will increase the lead time and therefore the inventory flow time. Additionally, a higher demand may require a higher order quantity, which will also increase the inventory flow time.
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Related Questions
Rank from first to last the recommended steps for improving delivery, putting the first step at the top.
A. Create a key word speaking outline
B. Do a dress rehearsal that attempts to replicate the speaking situation
C. Polish and refine delivery in front of a mirror
D. Practice the speech aloud several times using only the key word speaking outline
E. Review your full-sentence preparation outline aloud and revise as needed.
Answers
Ranking the recommended steps for improving delivery, with the first step at the top:
1. E. Review your full-sentence preparation outline aloud and revise as needed.
2. C. Polish and refine delivery in front of a mirror.
3. B. Do a dress rehearsal that attempts to replicate the speaking situation.
4. D. Practice the speech aloud several times using only the key word speaking outline.
5. A. Create a keyword speaking outline.
Explanation:
1. Review your full-sentence preparation outline aloud and revise as needed (E): This step involves familiarizing yourself with the content of your speech and making any necessary adjustments to the outline. It ensures that you have a solid understanding of the material and helps you organize your thoughts effectively.
2. Polish and refine delivery in front of a mirror (C): Practicing in front of a mirror allows you to observe your body language, facial expressions, and overall delivery. It helps you refine your gestures, facial expressions, and overall nonverbal communication to enhance your delivery.
3. Do a dress rehearsal that attempts to replicate the speaking situation (B): This step involves simulating the actual speaking situation as closely as possible. It allows you to practice the speech with props, slides, or any other elements that will be present during the actual presentation. It helps you become familiar with the environment and address any potential challenges or issues that may arise.
4. Practice the speech aloud several times using only the keyword speaking outline (D): Using a keyword speaking outline helps you focus on the main points and structure of your speech without relying on a script. Practicing aloud several times allows you to internalize the flow and structure of the speech, ensuring a smoother delivery.
5. Create a keyword speaking outline (A): This step involves condensing your full-sentence preparation outline into a brief keyword outline. It serves as a memory aid during the delivery, helping you remember the key points and structure of the speech. This step is placed last in the ranking as it follows the previous steps that involve understanding and refining the content, delivery, and overall preparation for the speech.
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The Richmond Refinery powers million people per year. Gasoline is about percent of what they make.
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The Richmond Refinery, located in California, is one of the largest refineries in the United States. It produces a significant amount of energy that powers millions of people each year. The refinery is capable of producing various types of fuel, including gasoline (large percentage), diesel, and jet fuel.
Gasoline, in particular, is a critical product of the Richmond Refinery, accounting for a large percentage of its output. While the exact percentage may vary from year to year, gasoline production typically makes up a significant portion of the refinery's overall production.
Gasoline is a vital energy source that powers vehicles, machinery, and other equipment. It is used extensively in the transportation industry, making it a critical component of modern society. The Richmond Refinery's production of gasoline plays a crucial role in meeting the energy needs of millions of people in California and beyond.
Overall, the Richmond Refinery is a crucial energy producer that provides essential resources to power modern society. Its production of gasoline is an integral part of its operations, helping to ensure that millions of people have access to the energy they need to go about their daily lives.
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Name two things other than the 5 C’s that can affect pricing
Answers
omnichannel retailers use consumer information collected from the customers' internet browsing and buying behavior to send dedicated emails to customers promoting specific products or services in an effort to
Answers
Omnichannel retailers gather data on customers' online behavior, such as browsing and purchasing history, in order to create targeted email campaigns promoting particular products or services with the aim of increasing sales.
Omnichannel retailing refers to a company's ability to provide a seamless customer experience across a variety of channels or touchpoints. A customer can, for example, purchase a product online and then pick it up at a physical store, or shop in-store and then have the product delivered to their home.
With the goal of boosting sales, omnichannel retailers employ customer data obtained from online browsing and purchasing activities to send customized emails to customers, promoting specific products or services. This is known as targeted marketing, and it can help businesses reach their ideal audience more effectively.
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Which of the following is most likely to be true of consumers who experience time pressure while deciding on a purchasing activity?a. Consumers are more likely to process purchase related information at a deeper level.b. Consumers are more likely to rely on simple choice heuristics.c. Consumers' orientations are more likely to switch from utilitarian to hedonic.d. Consumers are less likely to buy brands positioned as relatively high quality.e. Consumers are more likely to shop with others rather than shopping alone.
Answers
b. Consumers are more likely to rely on simple choice heuristics.
What is consumer behavior?The study of consumer behaviour focuses on how people and communities choose, acquire, utilize, and discard goods, services, concepts, or experiences to satiate their wants and needs. It entails looking at things like cultural, social, personal, and psychological elements that affect how customers make decisions. Analyzing consumer behaviour also entails looking at how they seek out information, weigh their options, make decisions, and behave after making a purchase. To develop successful marketing strategies that appeal to their target audience and offer them goods that suit their wants and preferences, marketers must have a solid understanding of consumer behaviour.
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hi.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,.,,.,.,.,.,.,;]
Answers
Answer:
Hellllllllllllllllllllllllllllllllllllo
Explanation:
If the Market Equilibrium Wage Rate is $105.00 and FC = $1500.00: A. The firm Shuts Down and hires no workers and loses $1500.00 B. The firm hires 45 workers and earns a $1200.00 Economic Profit C. The firm hires 55 workers earns a $975.00 Economic Profit D. The firm hires 40 workers and earns a $1200.00 Economic Profit
Answers
Answer: B. The firm hires 45 workers and earns a $1200.00 Economic Profit
Explanation:
According to the table, when the Market Equilibrium Wage Rate is $105, the number of workers to hire would be 45 and the revenue would be $7,425.
If 45 workers are hired, they would cost:
= 45 * 105 per worker
= $4,725
Added to the fixed cost, the total cost would be:
= 4,725 + 1,500
= $6,225
The profit would be:
= Revenue - cost
= 7,425 - 6,225
= $1,200
A storm will hit a small town soon. Residents are advised to head out to
purchase water, canned food, and other emergency supplies. When residents
go to make their purchases, they notice that the supermarkets have greatly
raised the prices of certain items. Which price strategy is this?
Answers
Answer:
Price Gouging!
Explanation:
Price gouging occurs when a seller increases the prices of goods, services or commodities to a level much higher than is considered reasonable or fair. Usually, this event occurs after a demand or supply shock. Common examples include price increases of basic necessities after natural disasters.
When the supermarkets increased prices greatly at such a juncture, this is known as Price gouging.
Price gorging:
Refers to when prices are raised by retailers exorbitantly in response to sudden increase in demand Usually happens during disasters and emergenciesIs usually illegalThe supermarkets is engaging in price gorging by increasing the prices so greatly due to the impending storm. Authorities can come against these supermarkets for this.
In conclusion, the supermarkets are engaging in price gorging.
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A libertarian would object to all of the following EXCEPT which?A. PaternalismB. Laissez-faire economicsC. Moral legislationD. Redistribution of income
Answers
A libertarian would object to all of the following except Laissez-faire economics, option B.
An economic doctrine from the 18th century called laissez-faire opposes any form of government meddling in commercial matters. Laissez-faire, a French word that translates to "leave alone" (literally, "let you do"), is based on the idea that society as a whole would benefit from businesses operating with less interference from the government.
The essential ideas of laissez-faire economics include the notion that economic rivalry represents a "natural order" that governs the universe. Laissez-faire economists contend that government interference in commercial and industrial matters is unnecessary since this spontaneous self-regulation is the best sort of regulation.
As a result, they are opposed to corporation taxes, minimum wages, levies, and other forms of government interference in the economy. They also reject any kind of legislation or regulation. Actually, proponents of laissez-faire economics view these taxes as a punishment for output.
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Help this is super confusing
Answers
Answer: Reasons
Explanation: Crystals are collected for jewelry, sugar, salt, computer chips. So if it shows you all those examples it would be collected for many reasons. I hope this helped!
what is one reason why information about marital status is important to tax officials?
Answers
Information about marital status is important to tax officials for several reasons. One key reason is that it affects the filing status and tax liabilities of individuals.
Married individuals may have different tax obligations and benefits compared to single individuals. For example, they may be eligible for certain deductions, credits, or tax brackets that differ from those available to single individuals. Additionally, marital status can impact the determination of dependents and eligibility for certain tax benefits, such as the Earned Income Tax Credit.
Accurate reporting of marital status allows tax officials to ensure compliance with tax laws and accurately assess tax liabilities.
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One result of economic growth during the song period was urbanization, which means.
Answers
Answer:
Growth in cities this is the answer
Meredith Delgado owns a small firm that has developed software for organizing and playing music on a computer. Her software contains a number of unique features that she has patented, so her company's future has looked bright However, there has been an ominous development. It appears that ander of her patented features were copied in similar software developed by MusicMan Software, a hupe software company with amal sales revenue in excess of S1 billion. Meredith kadired. MusicMan Sotrware has stolen her ideas and that company's marketing power is likely to enable it to capture the market and drive Meredith out of business In response, Meredith has sued Music Man Software for patent infringement with attomey fees and other expenses, the cost of poing to trial (win or lone) is expected to be S1 million. She feels that she has a 50 percent chance of winning the case, in which case she would receive 55 million in damages. If she loves the case, she gets nothing. Moreover, if she loses the case, there is a 60 percent chance that the judge would also onder Meredith to pay for court expenses and lawyer fees for Music Man (an additional SI million. Com) MusicMan Sotiware has offered Meredith S1. 5 million to settle this case out of court. Construct and wie a decision tree to dotermine whether Meredith should go to court or accept the seulement offer, assuming she wants to maximize her expected payoff
Answers
Meredith should go to court because the expected payoff of going to trial is higher than accepting the settlement offer.
To determine whether Meredith should go to court or accept the settlement offer, we can construct a decision tree to analyze the expected payoffs. Let's consider the possible outcomes:
1. If Meredith goes to trial and wins (50% chance), she would receive $5 million in damages. The expected payoff would be: (0.5 * $5 million) - $1 million = $2.5 million.
2. If Meredith goes to trial and loses (50% chance), she would have to pay an additional $1 million in court expenses and lawyer fees. The expected payoff would be: (0.5 * -$1 million) = -$500,000.
Comparing the two possible outcomes of going to trial, the expected payoff is positive: $2.5 million - $500,000 = $2 million.
On the other hand, if Meredith accepts the settlement offer of $1.5 million, the expected payoff would be $1.5 million.
Since the expected payoff of going to trial ($2 million) is higher than accepting the settlement offer ($1.5 million), Meredith should choose to go to court to maximize her expected payoff.
It's important to note that this analysis assumes that the monetary values are the sole factors in Meredith's decision-making process. Other considerations, such as the time and effort involved in the trial, potential reputation impacts, and emotional factors, may also influence Meredith's decision.
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Describe some of the powerful marketing tactics used by the credit card industry?
Answers
Answer:
nice packaging in mail, introductory benefits, free gifts, barbie example
Identify whether the expense below would be considered a want, a need, or savings.
Concert tickets
Savings
Want
Need
Answers
the eisp component of provides informatino on the importance of infosec in the organization
Answers
The EISP component provides information on the importance of information security in the organization - True
Information on the significance of information security in the organisation is especially provided by the EISP (Enterprise Information Security Policy) component. The organization's general approach and structure for information security are described in the EISP, a policy document. Information security-related high-level declarations, objectives, duties, and recommendations are frequently included.
Even while the EISP may discuss the value of information security within the company, its main goal is to offer a thorough and organized framework for managing and protecting information assets. It assigns roles and duties, outlines procedures, and lays the basis for establishing and maintaining efficient information security practises across the organisation. It also defines the organization's security goals.
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Complete Question:
The EISP component provides information on the importance of information security in the organization - True/False
HELP!!!!!!Match the job role with the job title.
Evaluate student
applications for
financial aid.
Review financial records
of large businesses
and corporations.
Gather evidence and
prepare for court.
Review policies and grant
funds to students in need.
Conduct research
that is pertinent
to a criminal case.
Review tax documents
and returns for errors
and inaccuracies.
Internal Revenue Investigator
Federal Aid Coordinator
Paralegal
Answers
Answer:
Internal revenue investigator: Review Tax Documents, Review financial records.
Federal Aid Coordinator: Evaluate Student Applications, Review policies and grant funds.
Paralegal: Conduct research that is pertinant to a criminal case, gather evidence and prepare for court
Explanation:
Answer:
answer down below
Explanation:
A predetermined price set by the seller rather than being determined solely by supply and demand is called a(n)?
Answers
A predetermined price set by the seller rather than being determined solely by supply and demand is called a FIXED PRICE.
Indeed, a fixed price is a non-negotiable price that the buyer has to pay for the good and it is not subject to change if demand or supply change.
Sometimes, the government fixes prices in order to carry out certain public and economic policies. A price fixed over the equilibrium price generates and excess of supply, while a fixed price below the equilibrium generates an excess of demand.
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Which of the possible answers below is the correct ending to the following statement?
In a perfectly competitive market, the process of entry and exit will end when firms in the market …:
(a) are making zero economic profit.
(b) are operating with excess capacity.
(c) capture market power.
(d) experience decreasing marginal revenue.
additionally, use a diagram or diagrams to explain your answer.
Answers
In a perfectly competitive market, the process of entry and exit will end when firms are making zero economic profit.
The market price is determined by the interaction of supply and demand. If firms are making positive economic profit, then there is an incentive for new firms to enter the market.
[Diagram of a perfectly competitive market with zero economic profit]
The diagram shows a perfectly competitive market with zero economic profit. The market price is P*, and the quantity produced is Q*. The average cost curve (AC) is tangent to the demand curve at P*, so firms are making zero economic profit.
If firms were making positive economic profit, then the average cost curve would be above the demand curve. In this case, there would be an incentive for new firms to enter the market, which would drive down the market price and reduce the economic profit of existing firms.
If firms were making negative economic profit, then the average cost curve would be below the demand curve. In this case, there would be an incentive for firms to exit the market, which would drive up the market price and reduce the economic loss of existing firms.
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lol look at this
PLSSS HELP PLSS HELP
Answers
Brian is calculating his tax deductions. he finds that he can deduct $1,225 as a result of money given to charity, $4,391 from interest paid on his mortgage, and $2,821 from what he paid in state and local taxes. what is brian’s total deduction? a. $8,437 b. $8,383 c. $6,414 d. $5,700 please select the best answer from the choices provided a b c d
Answers
Brian's total deduction annual income is $8,437.
To find your annual income, first, multiply your hourly rate by the number of hours worked per week, then multiply the total by 52. Now that you know your total annual income, divide it by 12 to get your monthly income. This will deduct the entire rent for the rental property. However, you can deduct the mortgage interest and property taxes you paid on the property as part of your rent.
Money given to charity = $1225
state and local tax paid = $2821
interest paid to his mortgage = $4291
therefore total tax deduction is = $1225 + $2821 + 4291
= $8437.
In addition, an annual depreciation deduction for the building can be made over the useful life of the building. Landlords can no longer deduct mortgage interest from rental income to reduce the taxes they pay. He is entitled to a tax deduction based on 20% of the interest portion of the mortgage payment. This rule change could mean paying more taxes than before. Medical dental taxes interest charitable donations accidental and theft losses labor costs, and certain other expenses.
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a monopoly is group of answer choices able to ignore the demand for its product when setting its price. a price taker. a firm with no marginal revenue curve. able to earn only a normal profit in the long run. able to set the price for its product.
Answers
"able to set the price for its product," indicates that a monopoly has the authority to determine and control the price of its goods or services, as it faces little to no competition in the market.
A monopoly refers to a market structure where there is a single seller or producer of a particular product with no close substitutes. One of the key characteristics of a monopoly is its ability to set the price for its product. Unlike in competitive markets where prices are determined by market forces of supply and demand, a monopolistic firm has the power to influence the price based on its market dominance. It can choose to set a higher price to maximize its profits, as it faces limited or no competition. This ability to set prices is a significant advantage for monopolies as they can potentially earn higher profits compared to firms in competitive markets. However, this power also raises concerns about the potential exploitation of consumers through higher prices and reduced consumer surplus.
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In reviewing the security logs for a company's headquarters in New York City, which of these activities should not raise much of a security concern?
A recently hired data scientist in the Medical Analytics department has repeatedly attempted to access the corporate financial database
One evening an employee logs in from home and downloads all of the files associated with the new product he is working on
An employee has started logging in from home for an hour or so during the last 2 weeks of each quarter
Each night one headquarters employee logs into his account from an ISP in China
Answers
A recently hired data scientist in the Medical Analytics department has repeatedly attempted to access the corporate financial database activities should not raise much of a security concern. The answer is OPTION A
The three guiding principles of confidentiality, integrity, and availability make up the CIA Triad (CIA). These tenets collectively constitute the basis for information security policies. A program, organization, system, or enclave's cybersecurity is under the control of this role.
Information Systems Security Officer (ISSO) Cybersecurity Officer is another name for the person who fills this position. Inform your legal team as soon as you can about the breach and provide them with all relevant information so that your organization is prepared for any scenario.
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Can anyone help me?
Saving money allows u to set more aside in a(n) ____ fund
Emergency
Bond
Exchange
Answers
Answer:
Saving money allows you to set more aside in an Emergency fund.
What does it mean to “authenticate” your payment? How do these payment systems authenticate?
Answers
Answer:
Payment authentication is the process of confirming a customer's identity through at least one of the following authentication factors: knowledge, inherence, ownership, and user location. Knowledge is the most common category used for transaction authentication.
masterson company's budgeted production calls for 57,000 units in april and 53,000 units in may of a key raw material that costs $1.60 per unit. each month's ending raw materials inventory should equal 25% of the following month's budgeted materials. the april 1 inventory for this material is 14,250 units. what is the budgeted materials needed in units for april?
Answers
According to the Masterson company's, the budgeted materials needed in units for April is $ 89,600.
What do you mean by the budgeted material purchase?The amount of material that must be purchased to meet the production budget is determined by a direct materials purchasing budget. This is computed for every manufacturing period, which is often monthly or quarterly.
Budgeted beginning direct material in units + Direct material in units required for production - Budgeted ending direct material in units equals Budgeted direct material purchases in units.
A cost budget is a financial plan that details the anticipated expenses associated with operating a firm, tackling a project, or creating a product.
Here,
Calculation of Budgeted material Purchase:
Production unit 57,000
Desired ending inventory
(53,000 × 25% ) 13250
Less : Beginning inventory -14250
Material purchase 56,000
Cost per unit 1.6
Material purchase cost 89600
Therefore, according to the Masterson company's, the budgeted materials needed in units for April is $ 89,600.
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How are scarcity and the laws of supply and demand connected?
Answers
Answer:
Scarcity and supply and demand are connected because they determine how much the product costs. First of all, scarcity describes supply. If a product is scarce and demand is high, the supplier would raise the costs for the product, but if there is plenty of supply, and low demand, the supplier would decrease the costs.
help!
A way to establish a good credit record is to:
A) Borrow to the maximum individual credit limit
B) Pay bills when they are due
C. Use credit as little as possible or not at all
D) Use credit when income is unreliable
Explain why?
Answers
Answer:
B) Pay bills when they are due.
Explanation:
A loan can be defined as an amount of money that is being borrowed from a lender and it is expected to be paid back at an agreed date with interest.
Generally, the financial institution such as a bank lending out the sum of money usually requires that borrower provides a collateral which would be taken over in the event that the borrower defaults (fails) in the repayment of the loan.
A credit score can be defined as a numerical expression between 300 - 850 that represents an individual's financial history and credit worthiness. Therefore, a credit score determines the ability of a borrower to obtain a loan from a lender.
This ultimately implies that, the higher your credit score, the higher and better it is to obtain a loan from a potential lender. A credit score ranging from 670 to 739 is considered to be a good credit score while a credit score of 740 to 799 is better and a credit score of 800 to 850 is considered to be excellent.
Generally, it's recommended that loans or bills are paid on a timely basis or as at when due in order to obtain a good credit score.
Hence, a way to establish a good credit record (score) is to pay bills when they are due.
When making decisions, managers often must decide between doing what is beneficial for the firm in the short term, and what is beneficial for both the firm and society in the long term. To address this conflict, a firm must
Answers
When making decisions, managers are often faced with a conflict between what is beneficial for the firm in the short-term and what is beneficial for both the firm and society in the long-term.
This conflict arises because the actions that benefit the firm in the short-term may not necessarily align with the interests of society as a whole, which can lead to negative consequences for both the company and society in the long-term.
To address this conflict, a firm must adopt a long-term orientation and consider the broader social and environmental impacts of its decisions. This means looking beyond immediate financial gains and recognizing that actions taken today can have far-reaching implications for the company's reputation, customer loyalty, employee morale, and overall sustainability.
Firms that prioritize social responsibility and sustainable business practices are more likely to build strong relationships with stakeholders, including customers, employees, investors, and regulators. They are also better equipped to weather economic downturns and other disruptions, as they have diversified their risk and invested in building resilient supply chains and communities.
Ultimately, the key to addressing the conflict between short-term gains and long-term benefits is a commitment to corporate social responsibility (CSR) and sustainable business practices. By prioritizing the needs of society and the environment alongside those of shareholders, firms can create value for all stakeholders over the long-term, ensuring their continued success and impact.
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free creditsssssssssssssssssssssssssssss
Answers
Answer:
ty
Explanation: