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Alex17521 [72]
3 years ago
9

The mythical Hacker Microbrewery in Rosenheim, Germany, makes a brand of beer called Golden Eagle, which bottles and sells in ca

ses to adjoining pubs and stores in Rosenheim. The setup cost of brewing and bottling a batch of beer is the US $1,800 per setup. The annual demand for the Golden Eagle brand of beer is 20,000 bottles. Hacker Microbrewery brews and bottles beer at a rate of 655 bottles per day. The brewery operates 250 days per year.
a. What is the economic production quantity (EPQ)?
b. What is the average inventory level for this optimum pro quantity? c. How many production setups would there be in a year?
d. What is the optimal length of the production run in days?
e. What would be the savings in annual inventory co can be reduced to $1,500 per setup?
Business
1 answer:
maw [93]3 years ago
5 0

Answer:

Explanation:

Annual demand (D) = 20000 units

Number of days per year = 250

Demand rate(d) = D/number of days per year = 20000/250 = 80 units

Production rate(p) = 655 units

Set up cost(S) = $1800

Holding cost (H) = $1.50

A) Optimum run size(Q) = sqrt of {2DS / H [1-(d/p)]}

= sqrt of {(2x20000x1800) /1.50[1-(80/655)]}

= Sqrt of [7200000/1.50(1-0.1221) ]

= sqrt of [72000000/(1.50 x 0.8779)]

= sqrt of (7200000/1.31685)

= Sqrt of 5467593.1199

= 2338 units

b) Maximum inventory ( I - max) = (Q/p) (p-d) = (2338/655)(655-80) = 3.5695 x 575 = 2052.46 or rounded off to 2052 units

Average inventory = I-max/2 = 2052/2 = 1026 units

C) Number of production setups per year = D/Q = 20000/2338 = 8.55 or rounded up to 6

d) optimal length of production run  = optimal run size /production rate = 2338/655 = 3.56 or rounded up to 4 days

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Answer: (1) journal Total Dr $27,282, Cr $27,282 (2) cash Account Dr: Total $21,823, Cr Balance c /d $19,613 Total $21,823, salary payable Total Dr $381, Cr $381,Account receivable Account Dr :Total $1,929 Cr Total $1,929, salary expense Account Dr Total $ 1,524 Cr: $1,524, common stock Total Dr : $18,270 Cr: Total $18,270, Supplies Account Total Dr : $1,320, Cr $1,320, Account Payable Total Dr :$1,320, Cr :Total $1,320, service revenue Total Dr : $4,771, Total Cr : $4,771, unearned revenue Total Dr :$712, Total Cr :$711, (3) Trial Balance Total Dr $24,767, Total Cr : $24,767

Explanation:

(1) The journal entry for the transaction will be

Apr 1 Dr : Cash $18,270, Cr : common stock $18,270

Apr1 Dr: salary payable$381,Cr: cash $381

Apr 2 No entry required

Apr 3 Dr : supplies $1,320, Cr : Account payable $1,320

Apr 10 Dr Account Receivable $1,929, Cr : service revenue $1,929

Apr 11 Dr cash$ 711,Cr: unearned revenue$ 711

Apr 20 Dr: Cash $2,842, Cr : service revenue $2,842

Apr 30 Dr : $ Account Payable $305 Cr : Cash $305

(2) The T Account will be

Cash Account

Dr common stock $18,270, unearned revenue $711, service revenue $2,842

Cr : salary payable $381, salary expense $1,524, Account payable $305,Bal c/d $19,613 Total Dr $21,823, Cr : $21,823

Salary payable Account

Dr : cash $381,Cr: Balance c/d $381 Total Dr $381,Cr :$381

Account Receivable Account

Dr: service revenue $1,929, Cr: Balance c/d $1,929 Total Dr $1,929, Cr $1,929

Salary expense Account

Dr: salary expense $1,524, Cr Balance c/d $1,524, Total Dr $1,524,Cr $1,524

Common Stock

Dr : Balance c /d $18,270, Cr :Cash $18,270 Total Dr $18,270, Cr $18,270

Supplies Account

Dr: Account payable $1,320, Cr Balance c /d $1,320, Total Dr $1,320, Cr $1,320

Account Payable

Dr: Cash $305,Balance c/d $1,015, Cr supplies $1,320, Total Dr $1,320, Cr $1,320

Service Revenue Account

Dr Balance c /d $4,771 Cr : Account Receivable $1,929, cash $2,842, Total Dr $4,771, Cr $4,771

Unearned Revenue Account

Balance c/d $711, Cr cash $711, Total Dr $711,Cr $711

(3) The trial balance as on 30/04/2017

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Cr : Common Stock $18,270, Account Payable $1,015, service revenue $4,771, unearned revenue $711 Total $24,767

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