Answer:
(Q, R) = (1555, 1400)
shortage imputed = $0.388
Explanation:
Lot size-reorder point system is one of the multi period models. This system is denoted by decision variables (Q, R). This multi period model is implemented when there is uncertain demand in inventory control.
nevertheless, in the simple EOQ model, demand is known and fixed. But when the demand is random, these lot size-reorder point (Q, R) systems allow random demand.
There are two decision variables in a (Q, R) system:
Order quantity, Q and
Reorder point, R
Additional steps are attached as files
Answer:
4. does not do the required homework before beginning development.
Explanation:
Ready Fire Aim approach is undertaken when the company is not prepared and has placed the product in the market with the aim that improvements will come later.
This approach is used to collect the responses of the customers and study the patterns of behavior. As we get the responses we improve the product accordingly.
This approach is used in product development processes.
Explanation:
The motivation for consumption comes from individual needs and desires, which may occur consciously and unconsciously. To meet their needs and wants, people identify and buy products and services that are compatible with their satisfaction.
There are several surveys and studies that seek to identify consumer behavior and explain how the purchasing decision process occurs. One of the most widespread theories in the world is Maslow's theory, which presented a hierarchy of needs that aims to identify a priority system of human needs satisfaction, divided into five parts, which are arranged in order of importance:
- physiological,
- safety,
- love,
- esteem and
- self-actualization
This theory is of great relevance to help marketers target their strategy according to the priority and need of individuals, including in their campaigns messages that send the consumer a sense of urgency for the product or service, directing marketing communication to the bottom of the hierarchy, which is the consumer's priority.
Answer:
1. Going concern
2. Economic entity
3. Monetary unit
4. Periodicitys
Explanation:
1. Since Jumbo's Restaurant is planning to close, the assumption of continuity (going concern) is no more applicable. This should be disclosed. Instead asset was still recorded at historical price which is misleading.
2. Gorloks Tax Services is an economic entity, and the property and assets of owners are not considered to be for the business. In this case the boat Sam bought was wrongly reported as an asset of the company.
3. Claim Jumpers when reporting the 5 trucks purchased must include a monetary value for them. The assumption of monetary unit states that all items reported on the balance sheet must be expressed in monetary terms.
4. Cobbler's Etc violated the assumption of periodicity which states the financial position of the business must be declared in a particular accounting period. Accounting period can monthly, quarterly, biannually, and yearly. The business should choose and accounting period and ensure financial position is reported for each of them. In this case financial reporting is not consistent with reporting happening after 14 months and before that 18 months.
Answer:
b. 65,000 units
Explanation:
The number of units of products y must sell to yield an annual profit of $90,000 is computed as;
Break even point in sales units = (Fixed cost + Targeted profit) / Contribution margin
Given that ;
Fixed cost = $300,000
Targeted profit = $90,000
Contribution margin = $15 - $9 = $6
Therefore,
Break even point in sales units = ($300,000 + $90,000) / $6
= 65,000 units
The number of units of products y must sell to yield an annual profit of $90,000 is 65,000 units.
