The EOQ is 980 units and should reduce the fixed ordering cost to an amount of $62.50.
<u>Explanation:</u>
a)
Annual demand=Qty per mth multiply with 12 = 1000 multiply with 12 =12000
Annual demand in USD, A= 12000 multiply with USD 100 (cost of each part) = USD 1200000
Preparation cost, P= 4 hrs changeover time multiply with USD 250 per hr = USD 1000
Annual holding cost, I = 25% = 0.25
EOQ in USD= Root over (2 multiply with A multiply with P divide by I ) = USD 9.79 multiply with 10000 = USD 98000
EOQ in nos. = USD 98000 divide by USD 100 (cos of each part) = 980 units
b) Q = 980 divide by 4 = 245
In this case, annual carryring cost, C = EOQ 980 by 4 multiply with 0.5 multiply with Unit cost USD 100 multiply with 0.25 = USD 3062.50
Annual demand, D = 1000 per month multiply with 12 = 12000
Ordering cost = C multiply with 245 / D = USD 62.50
Answer:
$60,000 U
Explanation:
Given:
Direct materials standard (4 pounds @ $1/lb.) = $4 per unit
Direct materials flexible budget variance-unfavorable = $15,000
Actual direct materials used = 103,000 pounds
Actual units produced = 22,000 units
Now,
Direct materials efficiency variance
= (Actual material - Standard material ) × Standard price
= ( 103,000 - 22,000 × 4 ) × $4
= 15,000 × $4
= $60,000 U
Answer:
d. All of these explanations could be relevant.
Explanation:
Change in demand for small luxury condominiums, from large single family homes could be : due to any of these three reasons - changing 'taste & preferences' of people
- Increase in senior citizen (old parents) , whose children have moved away from home. So, they might feel settling in community apartments better rather than full lonely homes (without children)
- Urban area aged people tend to have higher income & financial base for purchasing luxury condominiums
The market demand curve would be 1000 - 0.125Q.
<h3>How to calculate the demand curve?</h3>
It should be noted that the market demand curve will be the sum of the individual demand curve.
The market demand curve will be calculated thus. Mary’s demand curve is 5P = 5000 – 1.25QM. Here, p = 1000 - 0.25QM
Jack’s demand curve for donuts is given by P = 1000 – 0.5QJ. Helen’s demand curve is given by QH = 2000 – 2P. This will be P = 1000 - 0.5QH.
The slope will be:
= 0.5 × 0.25
= 0.15
The demand function of Jack and Helen are the same. The demand curve will be 1000 - 0.125Q.
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