Answer:
1. -2.2% 2. 40.6%
Explanation:
95%probability range =0.192±(2*.0107)=-2.2% to 40.6%
With the use of tables, we can work out above figures
95% given in question
Standard deviation given 10.7%
Average return=19.2%
Answer:
The answer is the economic order quantity is 400 units.
Explanation:
For this question, we apply the economic order quantity (EOQ) formula developed by Ford W. Harris in 1913, to find the answer. The formula is shown as below:
EOQ = 
in which: EOQ: Economic order quantity; D: Annual Demand in units; S: Cost per order; H: Annual holding cost per unit.
So by substituting the information we are given in the question, we have: D = 1,200 units; S = $80 and H = $1.2. Thus:
EOQ = 
= 400 units.
So, the economic order quantity is 400 units.
Answer:
The correct answer is B.
Explanation:
Giving the following information:
Apr. 1: Beginning inventory of 490 units for $2.16
Apr. 20: Purchase 420 units for $2.63
Dunbar sold 570 units of inventory during the month.
Under LIFO (last-in, first-out) method, the ending inventory is integrated by the first units incorporated into inventory.
First, we need to calculate the number of units in inventory:
Ending inventory in units= total units for sale - units sold
Ending inventory in units= (490 + 420) - 570= 340 units
Ending inventory ($)= 340*2.16= $734.4
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