EOQ How do we calculate annual consumption?

The College Bookstore sells a unique calculator to college students. The demand for this calculator has a normal distribution wi

Strike441 [17]

Answer:

Option (A) is correct.

Explanation:

Given that,

Mean daily demand, M = 20 calculators per day

Standard deviation, SD = 4 calculators per day

Lead time for this calculator, L = 9 days

z-critical value (for 95% in-stock probability) = 1.65 (From z tables)

Normal consumption during lead-time:

= Mean daily demand × Lead time

= 20 × 9

= 180 units of calculator

Safety Stock = z value × SD × L^(0.5)

= 1.65 × 4 × (9)^(0.5)

= 1.65 × 4 × 3

= 19.8 units

Reorder Point = Normal consumption during lead-time + Safety Stock

= 180 units + 19.8 units

= 199.8 or 200 units (Approx)

5 0

3 years ago

Uli produces stereo speakers. The selling price per pair of speakers is $1,930. There is no beginning inventory. Costs involved

blondinia [14]

Answer:

Ending inventory= $240,840

Explanation:

Giving the following information:

Total variable manufacturing costs per unit $470

Fixed manufacturing overhead per year $679,420

During the year, Uli produces 1,610 pairs of speakers and sells 1,340 pairs.

The full costing method (absorption costing) includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead. 

First, we need to calculate the total production cost:

Total cost= 1,610*470 + 679,420

Total cost= $1,436,120

Now, the unitary cost and ending inventory cost:

Unitary cost= 1,436,120/1,610= $892

Ending inventory= $892*270 units

Ending inventory= $240,840

7 0

3 years ago

Which statement describes the word “iterative”?

IrinaVladis [17]

Answer:

D.

Explanation:

The word 'iterative' is derived from the Latin word 'iterare', which means 'to repeat.'

Iterative is a term used to define a process of repetition to attain the desired outcome. It is a repetitive process performed to improve or do better than before.

The statement that correctly defines the term 'iterative' is option D. The statement talks about working in cycles (repetition) to get a desired result of (refined product).

Therefore, option D is correct.

5 0

3 years ago

Marking brainliest!! Ms. Rivera needs advice. She wants to pay her taxes on time and figure out how she can save money to retire

Yuki888 [10]

A. Personal

Personal accountant: A person who has the requisite skill and experience in establishing and maintaining accurate financial records for an individual or a business.

5 0

2 years ago

Read 2 more answers

Patrick Corporation is authorized to issue 1,000,000 shares of $1 par value common stock. During 2014, the company has the follo

gavmur [86]

Answer:

cash 4,900,000 debit

common stock 700,000 credit

additional paid-in 4,200,000 credit

in excess of Par-value

treasury stock: 360,000 debit

cash 360,000 credit

dividends 340,000 debit

dividends payable 340,000 credit

Explanation:

cash proceeds: 700,000 x 7 = 4,900,000

common stock: 700,000 x 1 = 700,000

additional paid-in: (difference) 4,200,00

treasury stock: 20,000 x 18 = 360,000

outstanding shares: 700,000 - 20,000 = 680,000

cash dividends: 680,000 x 0.50 = 340,000

6 0

3 years ago