Complete Question:
Yasmin Company expects to sell 1,900 units of finished product in January and 2,250 units in February. The company has 270 units on hand on 1st January and desires to have an ending inventory equal to 20% of the next month's sales. March sales are expected to be 2,350 units. Prepare Yasmin's production budget for January and February.
Answer:
680 Units for January and 250 units for February.
Explanation:
Production Budget can be calculated using the following formula:
<u>Production Budget = Expected Sales + Desired Ending Inventory Units - Opening Inventory</u>
The formula is reflected in a tabular form below:
<u>Production Budget For Yasmin Incorporation</u>
January February
Expected Future Sales (Unit) 900 250
<u>Add:</u> Desired Ending Inventory Units 50 70
<u>Less:</u> Openning Inventory Units <u> 270 </u> <u> 70 </u>
Production Units 680 250
The potential use of a service at a location is related directly to population and inversely to distance in the directly to population and inversely to distance.
This statement is according to the gravity model<span> of international trade in international economics</span>, which <span>predicts bilateral trade flows based on the economic sizes, like population and distance in this example.</span>
A situation in which a country specializes in producing the goods it produces most efficiently and buys the products it produces less efficiently from other countries, even if it could produce the good more efficiently itself is referred to as Ricardo's Theory of Comparative Advantage (1817).
<u>Explanation:</u>
In 1817, David Ricardo introduced the classical hypothesis of comparative advantage, which contributed the reason and advantages of foreign trade to disparities in the relative price of opportunity (cost of certain goods giving up) of generating the same product between nations.
Oil exporting countries, for an instance, have a competitive advantage in chemicals. A regional oil, as opposed to nations without these, offers a cheap source of material for the chemicals. In the system of oil distillery a lot of the raw materials are made. As a consequence, Kuwait, Saudi Arabia and Mexico compete with US chemical manufacturing companies.
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