Answer: 27.28 units
Explanation:
From the question, we are told that a company wants to determine its reorder point (R) and that demand is variable and they want to build a safety stock into R. We have also been given the information that the company wants to have a service level of 95 percent and that average daily demand is 8, lead time is 3 days and the standard deviation of demand during lead time is 2.
It should be noted that a service level of 95% will have a desired z score of 1.64. To get the desired value of R, we multiply the average daily demand by the number of the days in lead time and then add to the multiplication between the standard deviation during the lead time and the desired z score. Mathematically, this will be expressed as:
= (8 × 3) + (2 × 1.64)
= 24 + 3.28
= 27.28
Therefore, the desired value of R = 27.28 units
We can actually deduce here that when building the Complete 2nd Order Model, one can do all except: C. Create an interaction between age and each of the levels of job satisfaction.
<h3>What is Complete Second Order Model?</h3>
The complete second degree (order) model is actually known to be a polynomial model that includes the linear terms, second degree terms and the interaction term.
The options that complete the question are:
A. Create a curvilinear term for job satisfaction
B. Create an interaction between unemployment rate and age
C. Create an interaction between age and each of the levels of job satisfaction
D. Create a curvilinear term for age.
Thus, options C is the one that wouldn't be carried out in the Complete Second Order Model.
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Answer:
Net income = $20,940
Explanation:
Answer 1.
Accounts
Cash Receipts 32,000
Expenses
Advertising 500
Depreciation 3,200
Car & Truck Expense 1,360
Employee Compensation 5,000
Education 1,000 11,060
Net Income 20,940
Therefore, the net income that Smith should report from his business after considering all the cash receipts and all the expenditures associated with his business is $20,940. All the expenses are to be deducted from income.
Answer:
Total sales variance $87,340 Favorable
See report below
Explanation:
The sales budget for the month of June would like as follows:
Budgeted Sales
Product units Price Total($)
A 40,000 $7 280,000
B 39,000 $9 351,000
Actual sales
Product units Price Total($)
A 39,000 $7.10 276,900
B 49,600 $8.90 441440
Sales Budget Report for the month of June 2019
Budget Actual Variance ($)
A 280,000 276,900 3,100 Unfavorable
B 351,000 441,440 <u>90,440 </u>favorable
Total sales variance <u> 87,340 Favorable</u>
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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