Answer:
Business
Explanation:
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Answer:
a) 32 refrigerators
b) 28.39 approximately 29 refrigerators
Explanation:
Given:
Cost of order, S = $100
H = 20% of 500 = 100
Cost of refrigerator = $500
Annual demand, D = 500
S.d = 10
Lead time, L = 7 days.
a) To find the economic order quantity, Q_opt, let's use the formula:
The economic order quantity is 32 refrigerators.
b) The reorder point, R, is calculated as:
R = (d' * L) + ( z * s.d)
Where d' is daily demand which is calculated by dividing annual demand by 365 days.
d' = 500/365 = 1.37
At 97% service probability.
Using the excel function, NORMSINV(0.97) = 1.88.
Therefore z = 1.88
Solving for R, we have:
R = (1.37 * 7) + (1.88 * 10)
= 28.39
≈ 29
If the distributor wants a 97% service probability, the reorder point, R, should be 29 refrigerators
Answer:
A market economy functions under the laws of supply and demand. It is characterized by private ownership, freedom of choice, self-interest, optimized buying and selling platforms, competition, and limited government intervention.
Answer: Decrease in Assets
Decrease in Owner's equity
Explanation:
Cash account is an asset. Specifically a current asset. Current assets are assets that will be converted within a year. Taking the cash out of the cash account lowers the asset in the business. This will thus lead to a decrease in assets. And the asset will decrease on the credit side of the account.
Because Ramon took money out of the business, this is known as a withdrawal. A withdrawal is money the owner takes out of the organisation to use for his personal expenses. Withdrawals thus lower the cash in the organisation. However when an owner takes cash from the organisation, then this comes from the organisation's share capital. So the owner is basically cashing out a portion of his share in the organisation through this withdrawal. Share capital falls under equity. So when share capital decreases then it will lead to a decrease in equity. This will decrease on the debit side of the account.
Forgone output is the fundamental economic cost of unemployment. So, output (option (b)) is the right choice.
<h3>Forgone labour output </h3>
Forgone labour output is the amount of money that persons would have made over the course of their remaining working lives, discounted to the current year if they had not passed away too soon. Forgone labour production, like other accounting metrics like the Gross Domestic Product (GDP), is not meant to represent a gauge of society's prosperity. This brings us to the welfare-based approach, which is the second method for estimating the costs of premature death.
The potential for the production of goods and services is lost forever when the economy fails to provide enough jobs for everyone who is able and willing to work.
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