Discuss whether the following are included in the GDP: 1) Tires Ford buys to put on a car. 2) A used tire you buy for your perso
1 answer:
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Answer:
Cost for Nuts = $80,000 2/5 = $32,000
Cost for bolts = $80,000 3/5 = $48,000
Explanation:
Provided joint cost = $80,000
Total quantity of nuts and bolts at separation
Nuts = 5,000 pounds
Bolts = 10,000 pounds
Weights of cost will be based on value of goods.
Nuts = 5,000 $20 = $100,000
Bolts = 10,000 $15 = $150,000
Thus, weights will be 10:15 = 2:3
Cost for Nuts = $80,000 2/5 = $32,000
Cost for bolts = $80,000 3/5 = $48,000
Answer:
a) 32 refrigerators
b) 28.39 approximately 29 refrigerators
Explanation:
Given:
Cost of order, S = $100
H = 20% of 500 = 100
Cost of refrigerator = $500
Annual demand, D = 500
S.d = 10
Lead time, L = 7 days.
a) To find the economic order quantity, Q_opt, let's use the formula:
The economic order quantity is 32 refrigerators.
b) The reorder point, R, is calculated as:
R = (d' * L) + ( z * s.d)
Where d' is daily demand which is calculated by dividing annual demand by 365 days.
d' = 500/365 = 1.37
At 97% service probability.
Using the excel function, NORMSINV(0.97) = 1.88.
Therefore z = 1.88
Solving for R, we have:
R = (1.37 * 7) + (1.88 * 10)
= 28.39
≈ 29
If the distributor wants a 97% service probability, the reorder point, R, should be 29 refrigerators