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Luba_88 [7]
3 years ago
8

What are the benefits of "inventory pooling"? Establishing pools of inventory at each supplier and customer locationsCentralizes

inventory into fewer locations thus reducing safety stocks and the amount of inventory needed in the supply chain.Pulling back inventory when firms have too much at retail level.Providing a one-stop means for the customer to return goods
Business
1 answer:
PolarNik [594]3 years ago
8 0

Answer:

The benefits of Inventory Pooling includes:

  • centralizing inventory into fewer locations thus reducing safety stocks and the amount of inventory needed in the supply chain.
  • Pulling back inventory when firms have too much at retail level.

Explanation:

inventory pooling is an operational strategy used to increase efficiency in stock management and analysis.

It is a supply chain tool that consolidates multiple inventory locations into a single one.

It is a centralized system that helps with stock keeping. It makes projections easier and helps manage shortfalls that may arise due to demand uncertainty.

It is cost effective by reducing cost of employing more staff and reduces the percentage error due to the centralized portal.

By reducing operational costs, profit is maximized.

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​ Jim saw a decrease in the quantity demanded for his firm’s product from 8000 to 6000 units a week when he raised the price of
Delicious77 [7]

Answer:

The demand for Jim’s product is elastic

Explanation:

In this question, we are to calculate the price elasticity of demand for the product.

We proceed as follows;

The formula for calculating elasticity of demand is

e = [(Q2 - Q1) / {(Q1 + Q2) / 2}] / [(P2 - P1) / {(P1 + P2) / 2}]

Here, Q2 = 6000

Q1 = 8000

P2 = $250

P1 = $200

e = [(6000 - 8000) / {(8000 + 6000) / 2}] / [($250 - $200) / {($200 + $250) / 2}]

e = [(- 2000) / 7000] / [(50 / 225]

e = - 1.3

That means absolute value of e is 1.3.

So, as the absolute value of e is more than 1 (i.e., 1.3), that means the demand for the product is elastic.

6 0
3 years ago
Read 2 more answers
The following production data were taken from the records of the Finishing Department for June:
Svetlanka [38]

Answer:

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4 0
3 years ago
Osage Corporation issued 2,000 shares of stock. Instructions Prepare the entry for the issuance under the following assumptions.
Artyom0805 [142]

Answer:

The journal entries will as under the explanation below.

Explanation:

(a) The stock had a par value of $5 per share and was issued for a total of $52,000.

<u>Account Name                                          Dr ($)                 Cr ($)   </u>

Cash                                                        52,000

Common stock (2,000 * 5)                                              10,000

Paid in capital in excess of per value                             42,000

<em><u>(To record common stock issued in excess of par value.)            </u></em>

(b) The stock had a stated value of $5 per share and was issued for a total of $52,000.

<u>Account Name                                             Dr ($)              Cr ($)   </u>

Cash                                                            52,000

Common stock (2,000 * 5)                                                10,000

Paid in capital in excess of stated value                          42,000

<em><u>(To record common stock issued in excess of stated value.)            </u></em>

Note: The stated value is used for internal accounting purpose when there is no par value for the stock.

(c) The stock had no par or stated value and was issued for a total of $52,000.

<u>Account Name                                    Dr ($)              Cr ($)            </u>

Cash                                                   52,000

Common stock                                                         52,000

<em><u>(To record common stock issued that had no par or stated value.)  </u></em>

Note: When stock had no par or stated value, the total proceeds from the issue becomes the legal capital.

(d) The stock had a par value of $5 per share and was issued to attorneys for services during incorporation valued at $52,000.

<u>Account Name                                       Dr ($)                 Cr ($)                </u>

Attorney service expenses                   52,000

Common stock (2,000 * 5)                                              10,000

Paid in capital in excess of per value                            42,000

<em><u>(To record common stock issued to attorneys for services at a premium.) </u></em>

(e) The stock had a par value of $5 per share and was issued for land worth $52,000.

<u>Account Name                                        Dr ($)                 Cr ($)       </u>

Land (Fair value)                                     52,000

Common stock (2,000 * 5)                                              10,000

Paid in capital in excess of per value                            42,000

<em><u>(To record common stock issued for land at a premium.)                  </u></em>

6 0
3 years ago
Harper Chicken Corporation processes and packages chicken for grocery stores. It purchases chickens from farmers and processes t
mrs_skeptik [129]

Answer:

a1)

drumstink  3,780

breast        5,670

a2)

drumstink  (280)

breast       3,570

a3) it cannot be eliminated as it is a subproduct of the breast we cannot produce breast without also, produing the drumstink

b) joint-cost and gross margin considering market value as wat to allocate joint-cost

drumstink  2.596,15

breast  .853,85

gross margin

drumstink 903.85

breast    2,386.15

<em>Questions:</em>

a-1. Allocate the joint cost to the joint products, drumsticks and breasts, using weight as the allocation base.

a-2. Calculate the gross margin for each product.

a-3. If the drumsticks are producing a loss, should that product line be eliminated?

b-1. Reallocate the joint cost to the joint products, drumsticks and breasts, using relative market values as the allocation base.

b-2. Calculate the gross profit for each product.

Explanation:

cost for the joint process:

7,000 raw materials + 2,450 conversion cost = 9,450

weights: 2,800 drumstiks  

           <u>   4,200 breast         </u>

total       7,000

drumstink 9,450 x 2,800/7,000  = 3780

breast  9,450 x 4,200/7,000  = 5670

gross margin

drumstink 2,800 * 1.25  - 3,780=  (280)

breast 4,200 * 2.20  - 5,670 =     3,570

<em>using market value as weight:</em>

drumstink 2,800 * 1.25  =  3,500

breast 4,200 * 2.20       = <u> 9,240 </u>

total sales value                12,740

drumstink 9,450 x 3,500/12,740  = 2.596,15

breast  9,450 x 9,240/12,740  = 6.853,85

gross margin

drumstink 3,500  - 2,596.15 = 903.85

breast 9,240  - 6,853.85 =   2,386.15

3 0
3 years ago
Maintaining ___________ involves producing what the customer wants while reducing errors before and after delivery to the custom
morpeh [17]
Maintaining quality involves producing what the customer wants while reducing errors before and after delivery to the customer. 
4 0
3 years ago
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