Answer:
The optimum production quantity is 72 wheel bearings per batch.
Explanation:
Wheel Rite can produce 480 wheel bearings per day.
Setup cost are $39 per batch.
Holding costs are $0.70 per unit per year.
The optimum batch size can be calculated as the one that minimizes the cost. This can be calculated with the Economic Order Quantity formula:
In this case, the units are:
D: daily demand (52 u.)
S: Setup cost per order ($39)
H: holding cost per unit per year ($0.70)
Then, we have:
The optimum production quantity is 72 per batch.
In order to predict future demand, a forecasting process combines data from the market, internal operations, and the wider business environment.
<h3>What really happens during a forecast?</h3>
The process of forecasting entails creating predictions based on historical and current data. These can then be contrasted (resolved) with what actually occurs. For instance, a business can predict its revenue for the following year and then contrast that prediction with the actual outcomes. A comparable but more broad phrase is prediction.
The five stages for forecast,
- Step 1 is to define the issue.
- Step 2: Information gathering.
- Step 3: First exploratory analysis.
- Step 4: Choosing and fitting models
- Step 5: Utilizing and assessing a forecasting model
To learn more about forecast, refer to:
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Answer:
as taxes increase, there is a decrease in supply
Explanation:
Answer:
Units transferred out = 760
Explanation:
If we assume that all units are completed in the order of arrival i.e (FIFO), then the units transferred out is the sum of the opening inventory and the units started and completed in the period. The units started and completed in the period is referred to fully-worked.
Fully worked is computed as the units started in the period less the closing inventory .
Fully- worked = 800 - 240 = 560
The units transferred out = opening inventory + Fully-worked
= 200 + 560 = 760
Units transferred out = 760
Note we assumed that the units of the inventory( started last period i.e January) would be worked on first in the month of February before any other units. So, it is assumed completed by the end of February
