Answer:
a. Determine the standard cost per unit for direct materials and direct labor.
standard direct labor rate = $20 x 30/60 minutes = $10 per faucet
standard direct materials rate = $1.80 x 2.5 lbs = $4.50 per faucet
b. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance.
direct materials price variance = (actual price x actual quantity) - (standard price x actual quantity) = ($1.95 x 13,000) - ($1.80 x 12,500) = $25,350 - $22,500 = $2,850 UNFAVORABLE
direct materials quantity variance = (standard price x actual quantity) -(standard price x standard quantity) = ($1.80 x 13,000) - ($1.80 x 12,500) = $23,400 - $22,500 = $900 UNFAVORABLE
total direct materials variance = direct materials price variance + direct materials quantity variance = $2,850 + $900 = $3,750 UNFAVORABLE
Answer
D) compared to the EOQ, the maximum inventory would be approx 30% lower.
Explanation
EOQ = √(2*Co*D/Cc)
EPQ= √ (2*Co*D/(Cc*(1-x)))
x=D/P
D = demand rate
P =production rate
Co=ordering cost
Cc=holding cost
1) The production rate would be about double the usage rate.
hence, P = 2D
x=D/2D=0.5
EPQ= √ (2*Co*D/((1-0.5)*Cc))
EPQ= √ (2*Co*D/0.5Cc)
EPQ=√ (1/0.5)*EOQ
EPQ=√ (2)*EOQ
EPQ=1.41*EOQ
Hence, EPQ is around 40% larger than EOQ.
Ans.: c) EPQ will be approximately 40% larger than the EOQ.
2) Compared to the EOQ, the maximum inventory would be
maximum inventory = Q
EPQ = 1.41 EOQ
EPQ = 1.41*Q
Q=EPQ/1.41
Q=0.71 EPQ
Hence, compared to EOQ, maximum inventory in EPQ is only 70% of that in EOQ model.
The cost of underestimating the demand is considered a revenue loss that arises due to cancellation of flight costing $134. Hence, cost of underetimating the demand is
.
The cost of overestimating the demand is known as rewards. For example, free round trip ticket worth $263. Hence, the cost of overestimating the demand is
.
The z-score that yields a p-value of 0.3375 is -0.4193.
Thus, super discount airlines should overbook the flight by 35 + (-0.4193 x 24) = 35 - 10.0632 = 24.9368 = 25 seats.
Therefore, super discount airlines should overbook the flight by 25 seats.
Answer:
Technology is defined by how people use scientific knowledge, and not only does scientific knowledge constantly change, but the way we use it is also constantly changing.
Emerging technologies refers to a new technology or technological innovations. The problem is that what can be considered new and how fast will it become obsolete? Our world is changing so fast, that current technology will be obsolete in just a few months, or maybe a year from now.
Because new technologies become old too fast, it is very difficult to identify them before they are no longer an innovation. Only those technologies that become mainstream can be clearly identified as emerging technologies, e.g. the iPhone was considered an emerging technology in 2007 and even though the first iPhone is obsolete now, it became mainstream technology.
Answer: must allow shoppers to go back to their shopping cart when using their desktop computer.
Explanation: It important to use strategies that maximise the size of the mobile screens of people's phones when making a mobile website. This makes it easier for people to return to their shopping cart when they are on their desktop computer, thereby allowing them to carry on again on their desktop, to complete their purchase.
