We may determine the overall cost of the work to be $15,000 based on the various charges involved.
How is the overhead rate determined?The amount your company is spending on producing goods or rendering client services is known as the factory overhead, often known as the overhead percentage. Divide these variable costs by the direct costs, then increase the result by 100 to get the overhead rate.
What is an illustration of an overheads rate?Overhead expenditures include things like rent, power, business permits, accounting fees, marketing costs, and payroll. While direct costs are directly related to the product or service you provide, such which are for raw ingredients or packaging supplies, these prices are often stable and predictable.
Direct labor x 120%
$6,000
Total cost of Job #420
= Direct labor + direct supplies + overhead
= 5,000 + 4,000 + 6,000
= $15,000
In conclusion, the total cost is $15,000.
To know more about Overhead rare visit:
https://brainly.com/question/29583640
#SPJ1
Budgeting, analysis of investment proposals, and provision of funds are activities associated with the _____ function.
a. operations
b. marketing
c. purchasing
d. finance
The answer is d. finance.
What is budgeting?
An estimate of income and expenses for a specific future period of time is included in budgets, which are often generated and analysed on a regular basis. Every organisation that desires to spend money may construct a budget, including businesses, governments, as well as people and households of various economic levels.
The ability to regulate monthly expenses, plan for unanticipated life events, and afford expensive items without going into debt all depend on having a budget. It's not necessary to be a math pro to keep track of your income and spending, and it doesn't mean you can't purchase the things you desire. It simply means that you will have a better understanding of where your money is going and greater control over it.
to learn more about budgeting click:
https://brainly.com/question/6663636
#SPJ1
Data concerning a recent period's activity in the Prep Department, the first processing department in a company that uses process costing, appear below:
Materials Conversion
Equivalent units of production in ending work in process 2,000 800
Cost per equivalent unit $13.86 $4.43
A total of 20,100 units were completed and transferred to the next processing department during the period.
Compute the cost of the units transferred to the next department during the period and the cost of ending work in process inventory.
Calculate the price of the units moved to the subsequent department throughout the time period as well as the price of completing the work-in-progress inventory.
What word would you use in place of subsequent?
consecutive, subsequent, ensuing, following, later, next, posterior, nearby, resultant, resulting, sequent, sequential, serial, succeeding, successional; these words all mean the same thing. Choose the adjective subsequent to describe anything that follows something else in time or order. The teacher will hopefully make following exams a little simpler if the entire class fails one. The word subsequent, which simply means "following or coming after," is from the Latin subsequi, "to follow closely."
Know more about inventory Visit:
https://brainly.com/question/14184995
#SPJ1
fill in the blank. a company's adjusted trial balance shows one revenue account, fees income. it has a credit balance of $4,000. the journal entry to close this account will include a debit to the account in the amount of $4,000; and a credit to the____account, in the amount of $4,000.
The credit will be made to the Retained Earnings account in the amount of $4,000.
How does closing the revenue accounts affect the company's financial statements?Closing the revenue accounts reduces the balance in the accounts to zero and transfers the revenue earned during the accounting period to the retained earnings account. This process is called closing entries and is necessary to prepare the company's financial statements. The income statement shows the revenue earned and expenses incurred during the accounting period, while the retained earnings statement shows the changes in retained earnings, including the net income earned and dividends paid out. By closing the revenue accounts, the company's net income is added to the retained earnings account, which is then used to calculate the company's overall equity position on the balance sheet.
To know more about Financial Statements visit:
https://brainly.com/question/28871574
#SPJ1
a 95% confidence interval for p, the proportion of all shoppers at a large grocery store who purchase cookies, was found to be (0.236, 0.282). which of the following is a correct statement?
Option (e), The statement "Point estimate = 0.259; margin of error = 0.023" is accurate.
An AP Statistics point estimate is exactly what?A point estimator, which is a statistic, provides an estimate of a population parameter. To calculate the value of a statistic from a sample, point estimates are utilized. Point estimation in statistics involves selecting a single value from sample data to represent the "best guess" or "best estimate" of an unknown population parameter. It is the process of using a point estimator to the data in order to generate a point estimate, to put it another way.
What is a 95% confidence interval's margin of error?The margin of error is a statistic that describes the degree of random sampling error in survey data. One should have less faith that a poll's findings will accurately represent the findings of a population-wide census the higher the margin of error.
Z* is equal to 1.96 at a 95% level of confidence. A margin of error of 3.92 is discovered when the value of z*, the population standard deviation, and the sample size are all entered into the equation.
0.236 - 0.282= 0.046
0.046/2=0.023
0.023+0.236=.259
Learn more about margin of error: https://brainly.com/question/29101642
#SPJ1
Your local barista recommends a new Thai restaurant that just opened down the street. This exchange demonstrates the usefulness of ______ in relationships.
A brand-new Thai eatery that just opened nearby is recommended by your neighborhood barista. This interaction shows how relationships can benefit from weak links.
A barista is what?A barista is a person who prepares and serves espresso-based coffee drinks. They are typically coffee shop employees. The words "bartender" and "barista" are derived from Italian and Spanish, respectively, and refer to a person who works behind a counter and often serves hot drinks (like espresso), cold alcoholic and non-alcoholic beverages, and snacks.
According to Prieto (2021), the term "barista" has been used in writing since 1916 in both Italian and Spanish. English and Spanish speakers' native plurals are baristas, while Italian speakers' native plurals are either baristi for masculine or bariste for feminine (literally meaning "barmaids").
Learn more about baristas with the help of the given link:
brainly.com/question/18377287
#SPJ
Which of the following scenarios are either not accounted for or measured inaccurately by either the income or the expenditure methods of calculating GDP for the United States? Check all that apply.
a. The costs of overfishing and other overly intensive uses of resources
b. Expenditures on federal highways
c. The variety of goods available to consumers
d. The value produced by doing your own laundry
The expenses associated with resource overuse, including exploitation. the range of products at customers' disposal. the advantages of doing your own washing.
What is GDP?A country's economic production is measured by its gross domestic product (GDP). It is the total cost of products and services created within the boundaries of a nation over a given time frame, usually a year. GDP is made up of all finished products created for exports, investments, government expenditures, and consumers. As it gives details on the amount of economic activity, output, and quality of living of its people, it is a crucial measure of a nation's economic health. Policymakers and investors frequently use GDP to assess the success of economic policies, project future economic patterns, and decide which investments to make.
To learn more about GDP visit:
https://brainly.com/question/15682765
#SPJ1
ll nine transactions for Ralston Sports Co. for September, the first month of operations, are recorded in the following accounts: Cash (1) (7) (9) 25,000 (3) 11,900 (5) 9,700 (6) 12,500 7,600 10,500 7,000 (8) James Ralston, Capital 25,000 Accounts Receivable 9,900 (9) 9,700 James Ralston, Drawing 7,000 (8) (3) Supplies 12,500 Fees Earned (4) (7) 9.900 11,900 (2) Equipment 9,500 (6) Operating Expenses 10,500 < Previous Next Fees Earned (4) (7) 9,900 11,900 Equipment (2) 9,500 Operating Expenses 10,500 (6) Accounts Payable (5) 7,600(2) 9,500 Refer to the T-accounts above. Prepare a trial balance, listing the accounts in their proper order. If an amount box does not require an entry, leave it blank. Ralston Sports Company Trial Balance September 30 Debit Balances Credit Balances
A transaction is a completed agreement between a buyer and a seller to exchange goods, services, or financial assets in return for money.
What is the meaning of Transaction?An executed contract between a buyer and a seller to trade goods, services, or financial assets in exchange for money is known as a transaction. The phrase is also frequently used in business accounting.
A transaction is a commercial occurrence that results in a monetary impact on the financial statements of a company and is noted as an entry in the accounting records of that firm. These are some examples of transactions: paying a supplier for products or services received.
The movement of money into and out of your bank account is documented by bank transactions.
Learn more about the Transactions here:
https://brainly.com/question/24730931
#SPJ1
which of the following steps are part of the segmentation, targeting, and positioning process? (choose every correct answer.)
Since there are no options to go with, I cannot choose every correct answer! Although I have Found some things that might help!
The segmentation, targeting, and positioning process is a strategic marketing approach that involves the following steps:
Overall, the segmentation, targeting, and positioning process is critical in helping businesses understand their customers and develop a marketing strategy that meets their needs and expectations while remaining competitive in the marketplace. Hope this helps!
Models associated with regression and classification data approaches have all except this important part:
Regression is a statistical technique used in the fields of finance, investing, and other disciplines that aims to establish the nature and strength of the relationship between a single dependent variable (often represented by Y) and a number of independent variables (known as independent variables).
The most popular variation of this method is linear regression, which is also known as simple regression or ordinary least squares (OLS). Based on a line of best fit, linear regression determines the linear relationship between two variables. The slope of a straight line used to represent linear regression thus indicates how changing one variable affects changing another.
To learn more about Regression from the given link:
https://brainly.com/question/28178214
#SPJ1
Suppose instead Brian decides to buy 100 shares of NanoSpeck stock.
Which of the following statements are correct?
a. The Dow Jones Industrial Average is an example of a stock exchange where he can purchase NanoSpeck stock.
b. An increase in the perceived profitability of NanoSpeck will likely cause the value of Brian's shares to rise.
c. Expectations of a recession that will reduce economy-wide corporate profits will likely cause the value of Brian's shares to decline.
The correct option b. An increase in the perceived profitability of NanoSpeck will likely cause the value of Brian's shares to rise.
Explain the causes to change the value of shares?The forces of the market affect stock values every day. This refers to the idea that supply and demand affect share prices.
A stock's price rises if there is a greater demand (buyers) than supply (sellers) for it. On the other hand, if there was a bigger supply than there was a demand for a stock, the price would drop. Earnings are the most significant factor influencing a company's worth. In the long term, no corporation can thrive without earnings, which refers to the profit a company makes. When you consider it, it makes logic. A corporation won't be able to survive if it never turns a profit.Let's say Brian instead chooses to purchase 100 shares of NanoSpeck stock.
Thus, the valuation of Brian's shares will then probably increase as NanoSpeck's perceived profitability increases.
To know more about the shares, here
https://brainly.com/question/28143339
#SPJ1
What is productivity?
A.
quantity of input per unit of output
B.
quantity of output per unit of input
C.
quality of output per unit of input
D.
quality of input per unit of output.
Answer:
The correct answer is B. Quantity of output per unit of input.
Productivity is a measure of efficiency that relates the amount of output produced to the amount of input used. The most commonly used definition of productivity is the amount of output produced per unit of input. This definition can be expressed mathematically as:
Productivity = Output / Input
In this formula, the input can be measured in a variety of ways, such as labor hours, capital invested, or raw materials used. The output can also be measured in a variety of ways, such as units produced, services provided, or revenue generated.
Therefore, productivity is generally defined as the quantity of output per unit of input, which means that answer B is the correct choice.
lassify each of the following costs as either variable, fixed, or mixed Costs are from a manufacturer of portable basketball hoops 1. Factory supervisor salary, 56,000 per month 2. Ulities, 560 per month plus 50 07 per unit produced 3. Assembly worker hourly wages 4. Factory equipment depreciation, 54,000 per month 5. Salesperson pay, 54,000 per month plus 5% of dollar sales 6. Factory insurance $3.500 per month 7. Screws to assemble hoops 8. Factory reri, 35,000 per month 9. Metal for is 10. Class for backboards 11. Oflice salaries 55,000 per month 12. Plastic forhoopbases
Each of the following costs is classified as variable cost, fixed cost, or mixed cost. The costs are mentioned in the table below.
Give a brief account of the various costs.Variable costs are production expenses that rise or fall in response to changes in a company's manufacturing activity. Raw materials used as components of a product, for example, are variable costs because this type of expense typically varies based on the number of units produced.
A fixed cost is the cost of a business expense that does not change regardless of the number of goods and services produced or sold. Fixed costs are recurring expenses that are not directly related to production, such as rent, interest payments, and insurance.
The total cost that combines two types of costs, namely fixed costs and variable costs, and thus implies that a portion of this cost does not change (fixed cost) with changes in production volume. The variable cost, on the other hand, varies with the volume or quantity produced. These expenses are also known as semi-variable expenses.
To know more about Mixed Cost; Visit -
https://brainly.com/question/23877958
#SPJ1
The account of the government held by the central bank on behalf of the state is called
Answer:The Federal Reserve
Explanation:Its the only bank that's part of the government
select the statements below that are correct in regards to entering transactions in a journal. (check all that apply.)
The statements below for writing transactions in a diary are true: the total dollar amount of debits must match the total dollar amount of credits; credited accounts should be indented; leave one blank line between each finished journal entry.
A journal entry is what?A journal entry is used in an accounting record for a business to describe a business transaction. Journal entries are frequently made in the general ledger, but they can alternatively be produced in a subsidiary ledger and then rolled forward into the general ledger after being summarized.
After then, the general ledger is used to create the company's financial statements. For a journal entry to make sense, every business transaction needs to be recorded twice at the very least (known as double entry accounting).
For instance, the income account and the cash account both grow when you make a cash sale. Alternately, if you make a credit transaction, your inventory account and accounts payable account both grow.
Learn more about journal entries with the help of the given link:
brainly.com/question/20421012
#SPJ1
Correct question:
Select the statements below that are correct in regard to entering transactions in a journal. (check all that apply.)
a) Credited accounts
b) Date of transaction
c) The total dollar amount of debits must equal the total dollar amount of credits.
d) Credited accounts should be indented.
e) Leave one blank line between each completed journal entry.
Andrew buys a home entertainment system from an electronics store offering 0% interest for 18 months. Calculate the average monthly payment she should make to avoid paying deferred interest charges for the $8,000 system.
Andrew would need to make payments of $444.44 per month to avoid paying any deferred interest charges over the 18-month promotional period.
To calculate the average monthly payment that Andrew should make to avoid paying deferred interest charges for the $8,000 home entertainment system, we need to first determine the total amount that Andrew would need to pay over the 18-month period. Since the interest rate is 0%, the total cost of the system would be the same as the purchase price, which is $8,000.
Dividing the total cost by the number of months in the promotional period gives us the average monthly payment:
$8,000 / 18 months = $444.44 per month
It's important to note that while there may be no interest charges during the promotional period, there may still be fees or penalties for late payments or early repayment of the balance. It's important for Andrew to review the terms and conditions of the promotion and to make sure he is able to make the required payments on time to avoid any fees or penalties. Additionally, if the full balance is not paid off by the end of the promotional period, interest charges may begin to accrue, so it's important to have a plan in place to pay off the balance before the promotional period ends.
For more such questions on interest charges
https://brainly.com/question/3266408
#SPJ4
In 2005. Americans bought 9.1 million home radios and 3.8 million home-theater-in-a-box units (TWICE. March 27. 2006. www.twice.com/article/CA6319031.html). Suppose (for simplicity) that the cost of the home radios was exist230 million, that the cost of the home-theater-in-a-box units was exist770 million, and that the average consumer has a Cobb-Douglas utility function and buys only these two goods, Estimate a plausible Cobb-Douglas utility function such that the consumer would allocate income in the proportions actually observed. The typical consumers Cobb-Douglas utility function, where R is radios and T is home-theater-in-a-box units, is U(R, T) = (Enter the exponents in your equation rounded to two decimal places)
U(R, T) = R0.70T0.30 This equation suggests that the consumer spent approximately 70% of their income on radios and 30% on home-theater-in-a-box units, which is in line with the observed proportions.
What is consumer spent?Consumer spending is the total amount of money that people spend on goods and services. It is an important indicator of economic health and performance, as it represents the total demand for goods and services in an economy. Consumer spending makes up the majority of economic activity, and it can be used to measure changes in economic conditions over time. When people are feeling confident, they tend to spend more, and this contributes to economic growth. On the other hand, when people become more cautious, they tend to reduce their spending, which can lead to economic slowdowns. Therefore, understanding consumer spending is essential to understanding the health of an economy.
To learn more about consumer spent
https://brainly.com/question/14892236
#SPJ1
You want to buy an apartment at the price of 4 million Hong Kong dollars. You will do this with a mortgage from a bank at the annual interest rate 8% for 30 years. What is your annual payment.
pls show cash flow diagram
Answer:
960,000,000
Explanation:
the four direct effects of tariffs are: a decline in consumption, increased domestic production, tariff revenue, and a(n) .
the four direct effects of tariffs are a decline in consumption, increased domestic production, tariff revenue, and a decline in imports.
Which four direct impacts does a tariff have?A tariff is a charge imposed on an imported commodity with the intention of safeguarding domestic employment, reducing rivalry among domestic industries, and increasing government revenue.
When a country applies tariffs on imported goods, domestically produced goods typically become more affordable than those that are brought in. Owing to the tariff's pricing impact, domestic production and consumption of goods increase while imports from other countries decline.
To know more about tariff's visit:
https://brainly.com/question/13571309
#SPJ1
A project manager is having difficulty obtaining consistent input from stakeholders and needs their input to identify strategic and operational assumptions and constraints. How can the project manager improve stakeholder input?
The correct answer is Make use of effective facilitation techniques. These techniques include brainstorming, go-round, mind maps, check ins, etc.
What is brainstorming?Brainstorming is a method of generating ideas and exchanging knowledge to solve a specific commercial or technical problem, in which participants are encouraged to think non-stop.
Brainstorming is a group activity in which each participant immediately shares the ideas that come to mind. At the end of the session, ideas are categorized and scored for follow-up.
When planning a brainstorming session, it's important to clearly define the topics to cover. A topic that is too specific can limit thinking, but a poorly defined topic will not generate enough directly applicable ideas.
The structure of the brainstorming group is also important. It should include not only people directly related to the topic, but also people who come up with novel and unexpected ideas. It can include employees inside and outside your organization.
To know more about brainstorming, visit:-
https://brainly.com/question/26684333
#SPJ1
Which of the following operational decisions correspond(s) to the price component of the consumer utility function? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer.)
When will the demand be fulfilled?
What are the shipping charges to the customer?
What is the product or service to be delivered?
Where will the demand be fulfilled?
When will the demand be fulfilled? following operational decisions correspond(s) to the price component of the consumer utility function.
Option A is correct.
The everyday strategic decisions made to ensure the smooth operation of the business are referred to as "Operational Decisions." These decisions are made frequently and on a daily basis.
A representation that helps in determining the human desires for goods or services that are not within the actual financial worth of the particular good or service is what is meant to be meant by the term "utility function."
Elaborating:Because the need for goods and services is based on the utility portion of consumption, Option A is correct.
Because the utility function does not correspond to the shipping costs, Option B is incorrect.
Because the delivery of the products and services is a strategic choice, Option C is incorrect.
Because the demand is being met there, Option D is incorrect and is not an operational choice.
Learn more about operational decision:
brainly.com/question/30726413
#SPJ1
What qualities or characteristics might lead to the emergence of an innovation desert? Is it always a geographical definition, or could it be defined in other ways? least 200 words.
If we identify the specific factors that are limiting innovation and to develop targeted strategies to overcome them, they are:
increasing investment in research and development, improving access to resources and education, fostering collaboration between different stakeholders, promoting a culture of innovation and entrepreneurship. What is an Innovation Desert?An innovation desert can be defined as a place or region with limited or no innovation activity occurring.
This can be caused by various factors, including a lack of access to resources, limited investment in research and development, a low level of education, and a lack of infrastructure.
Other factors that can lead to an innovation desert include a lack of collaboration between researchers and entrepreneurs, regulatory barriers, and a weak entrepreneurial culture.
Read more about innovation deserts here:
https://brainly.com/question/29533611
#SPJ1
morgan has just completed writing a long company report. morgan should set it aside for at least a day before proofreading it.T/F
Morgan has just completed writing a long company report. He should set it aside for at least a day before proofreading it is true. The correct option is T.
What is proofreading?Proofreading means carefully checking for errors in a text before it is published or shared. It is the very last stage of the writing process when you fix minor spelling and punctuation mistakes, typos, formatting issues and inconsistencies. It is essential for any text that will be shared with an audience, whether it’s an academic paper, a job application, an online article, or a printable flyer.
Proofreading is the final stage of the writing process when the paper is evaluated for mechanical correctness, such as grammar, punctuation, spelling, omitted words, repeated words, spacing and format, and typographical errors.
Learn more about proofreading, here:
https://brainly.com/question/11845575
#SPJ1
Chadwick also bought one share of macy's stock on nov 1, 2016, but he sold it three years later for $13. 54. How much money did he gain/lose with this one share? what is his return on investment?.
The amount that Chadwick gained on this one share was $ 3.54.
The return on investment was 35. 4 %.
How to find the gain ?To calculate Chadwick's gain or loss on the Macy's stock he purchased on November 1, 2016, we need to know the purchase price. Let's assume he purchased the stock for $10.
The formula for calculating gain or loss is:
Gain/Loss = Selling Price - Purchase Price
Gain/Loss = 13.54 - 10
= $3.54
To calculate the return on investment (ROI), we use the following formula:
ROI = (Gain/Loss ÷ Initial Investment) x 100%
ROI = ( 3.54 / 10) x 100%
= 35.4%
Find out more on return on investment at https://brainly.com/question/22985922
#SPJ1
suppose that when output is 20, marginal cost is $20, and average total cost is $30. then which of the following is most likely to be true?
Suppose that when output is 20, marginal cost is $20, and average total cost is $30. then average total cost is declining.
Option A is correct.
Average total cost:The average total cost is calculated by dividing the number of units produced by the total costs associated with producing a batch. The outcome is regarded as the most comprehensive costing compilation for a production run because it includes both the fixed and variable costs of producing the units.
What is the ATC formula?TC/TP = ATC.
Separating TC into fixed costs (FC) and variable costs (VC), dividing each of those costs by the total product, and adding them up is another way to calculate ATC: FC/TP x VC/TP is ATC.
Question incomplete:
Suppose that when output is 20, marginal cost is $20, and average total cost is $30. Then which of the following is most likely to be true.
A. Average total cost is declining.
B. Average total cost is increasing.
C. Average variable cost declining.
Learn more about average total cost:
brainly.com/question/29802410
#SPJ1
when foreign firms successfully dump their goods on the u.s. market, this leads to in the long run, which is bad for american consumers.
Dumping refers to unfair practices in international trade. When a country or company exports goods for less than it would charge domestically, this phenomenon takes place.
What is dumping?The term "dumping" is used in relation to international trade. It occurs when a nation or business exports a good at a price that is lower on the international market than it is on its home market.
Dumping typically includes unloading a product on a foreign market or exporting big quantities of it.
For instance, American apple farmers would struggle to sell their goods on the home market if UK companies began exporting apples to the US for less than what they are worth in the US.
A giant corporation may invade a tiny nation, saturate the market with inexpensive items, and then push local businesses out of operation.
Therefore, dumping refers to unfair practices in international trade. When a country or company exports goods for less than it would charge domestically, this phenomenon takes place.
Know more about dumping here:
https://brainly.com/question/9493663
#SPJ1
Correct question:
When foreign firms successfully dump their goods on the u.s. market, this leads to in the long run, is bad for American consumers. Noe, explain in dep what is dumping.
The gray wolf has the scientific name canis lupus. What can be concluded from this information? select two correct answers.
The domestic dog is one of the other species in the Canis genus, which also includes the grey wolf. The domestic dog is one of the other species in the Canis genus, which also includes the grey wolf.
What is lupus?The scientific name for the grey wolf, Canis lupus, includes the word lupus, which refers to a species of wolf. The canis family, which also includes dogs, coyotes, and foxes, includes the grey wolf, a sizable carnivorous mammal. As a member of the canid family, the grey wolf is classified as a lupus species, which is derived from the Latin word for "wolf." In many regions of the world, such as North America, Europe, and Asia, the grey wolf can be found. It is a highly social creature that lives in packs. The grey wolf, a top predator, is threatened by a variety of factors, such as habitat loss, hunting, and persecution.
To learn more about species visit here:
https://brainly.com/question/5369753
#SPJ1
You manage inventory for your company and use a continuous review inventory system to control reordering items for stock. Your company is open for business 300 days per year. One of your most important items experiences demand of 16 units per day, normally distributed with a standard deviation of 4 units per day. You experience a lead time on orders from your supplier of seven days with a standard deviation of three days. The unit price, regardless of order size, is $5.95. Your ordering cost is $11. Your inventory carrying cost is 20 percent. You have established a service level policy of 90 percent on this item. Use Table 7-2.
a. What is your optimal order quantity? (Round up your answer to the next whole number.)
b. What is your reorder point? (Round your answer to the nearest whole number.)
c. How much safety stock do you carry? (Do not round intermediate calculations. Round up your answer to the next whole number.)
According to the data, the optimal order quantity is 298 units. The reorder point is 175 units. The safety stocks which is carry is 63 units.
What do you mean by optimal order?The amount of merchandise that a company should have on hand at any particular moment that is most cost-effective is called the optimal order number.
The economic order quantity (EOQ) is the amount of inventory that a business should buy in order to satisfy demand while reducing overall ordering, getting, and holding expenses.
Here,
Average daily demand (d) = 16 units
Number of days per year = 300
Annual demand (D) = d × Number of days per year = 16 × 300 = 4800 units
Ordering cost (S) = $11
Carrying cost (H) = 20% of unit price = 20% of $5.95 = $1.19
Standard deviation of daily demand (d) = 4 units
Lead time(L) = 7 days
Standard deviation of lead time (L) = 3 days
At 90% service level value of Z = 1.28
a) Optimal order quantity (Q) = √(2DS/H)
= √[(2 × 4800 × 11)/1.19]
= √(105600/1.19)
= √88739.49579
= 298 units
b) Standard deviation of demand during lead time(dL) = √[(L × square of d) + (square of d × square of L) ]
= √[(7 × square of 4) + (square of 16 × square of 3) ]
= √[(7 × 16) + (256 × 9) ]
= √(112 + 2304)
= √2416
= 49.1528229
Reorder point = d × L + (Z × dL)
= 16 × 7 + (1.28 × 49.1528229)
= 112 + 62.91561332
= 174.91561332 or rounded off to 175 units
C) Safety stock = Z × dL = (1.28 × 49.1528229)
= 62.91561332 or rounded off to 63 units
Therefore, by the given data in the case follows terms and conditions:
The optimal order quantity is 298 units. The reorder point is 175 units. The safety stocks which is carry is 63 units.To know more about the optimal order, visit:
https://brainly.com/question/15700934
#SPJ2
The table of image is attached:
A car owner pays for new brakes that cost $756. 25, with a credit card that has an annual rate of 24. 5%. Determine the total amount paid, if the car owner pays $100 a month, until the balance is paid off. A spreadsheet was used to calculate the correct answer. Your answer may vary slightly depending on the technology used.
Answer: The car owner will pay a total of $1750 for the new brakes.
Explanation: To determine the total amount paid, we need to calculate the interest that will accrue on the credit card balance and add it to the cost of the brakes.
First, we need to calculate the monthly interest rate by dividing the annual rate by 12:
24.5% / 12 = 0.02042
Next, we can use a formula to calculate the monthly payment required to pay off the balance in a certain number of months:
[tex]P = \frac{r(PV)}{(1 - (1 + r))^{-n} }[/tex]
Where:
P = Monthly payment
r = Monthly interest rate
PV = Present value of the loan (cost of brakes)
n = Number of payments (unknown)
We can solve for n by substituting the given values and the monthly payment ($100) into the formula and using a spreadsheet or calculator to find the value of n that makes the equation true.
After doing this calculation, we find that the car owner will need to make 9 monthly payments of $100 to pay off the balance.
To calculate the total interest paid, we can use the following formula:
Total Interest = Total Payments - PV
Where PV is the present value of the loan (cost of brakes).
Plugging in the numbers, we get:
Total Interest = (9 x $100) - $756.25 = $93.75
Therefore, the total amount paid by the car owner is:
$756.25 (cost of brakes) + $93.75 (total interest) + $900 (9 months of $100 payments) = $1750
So the car owner will pay a total of $1750 for the new brakes.
To learn more about interest payments and loan check out
https://brainly.com/question/8084409
https://brainly.com/question/30664343
The following gives the number of pints of type B blood used at Woodlawn Hospital in the past 6 weeks:
WEEK OF PINTS USED
August 31 360
September 7 389
September 14 410
September 21 381
September 28 368
October 5 374
a) Forecast the demand for the week of October 12 using a 3-week moving average.
b) Compute the forecast for the week of October 12 using exponential smoothing with a forecast for August 31 of 360 and alpha = 0.2.
We estimate that 374 pints will be needed to meet demand during the week of October 12. By using exponential smoothing with a forecast for August 31 of 360 and an alpha value of 0.2, we would estimate the demand to be roughly 364 pints for the week of October 12.
How do you calculate average demand?The overall sales volume for your time period must be added together, and then the number of buying days must be divided by the total to determine the demand average.
a) To forecast the demand for the week of October 12 using a 3-week moving average, we take the average of the pints used in the previous three weeks:
Week of October 5: 374 pints
Week of September 28: 368 pints
Week of September 21: 381 pints
Average demand over the past three weeks = (374 + 368 + 381) / 3 = 374.33 pints
Therefore, we would forecast the demand for the week of October 12 to be approximately 374 pints.
b) To compute the forecast for the week of October 12 using exponential smoothing with a forecast for August 31 of 360 and alpha = 0.2, we can use the following formula:
Forecast for October 12 = alpha * (actual demand for October 5) + (1 - alpha) * (previous forecast)
Using the given values, we can calculate the forecast as follows:
Forecast for October 5 = alpha * (actual demand for September 28) + (1 - alpha) * (previous forecast)
= 0.2 * 368 + 0.8 * 360
= 363.2
Forecast for October 12 = alpha * (actual demand for October 5) + (1 - alpha) * (previous forecast)
= 0.2 * 374 + 0.8 * 363.2
= 364.24
Therefore, we would forecast the demand for the week of October 12 to be approximately 364 pints using exponential smoothing with a forecast for August 31 of 360 and alpha = 0.2.
Learn more about average demand here:
https://brainly.com/question/17173410
#SPJ1
bill o'malley is a buyer in the purchasing department at nilo industries. his speciality is nonferrous metals. bill is attempting to develop a system for force casting monthly copper prices. he has accumulated :6 months of historical price data:
Forecast for month 7 with alpha 0.1 = 0.87
Forecast for month 7 with alpha 0.5 = 0.84
How to calculateData Provided:
Month
Price/Pound
Forecast
1
0.85
0.90
2
0.82
3
0.90
4
0.79
5
0.83
6
0.85
Case 1 when Alpha = 0.1
Using exponential method we make forecast using below formula
Forecast Current = (Alpha * Previous period Actual) + ((1- Alpha)* Forecast of previous period)
Forecast month 2 = (Alpha * Actual price month 1) + ((1-Alpha)*Forecast for month 1)
=(0.1*0.85)+((1-0.1)*0.90)= 0.90
Similarly we can calculate for rest for the periods till month7 as below:
Month
Price/Pound
Forecast
1
0.85
0.90
2
0.82
0.90
3
0.90
0.89
4
0.79
0.89
5
0.83
0.88
6
0.85
0.87
7
0.87
Same needs to be done for Alpha 0.5 as below:
Forecast month 2 = (Alpha * Actual price month 1) + ((1-Alpha)*Forecast for month 1)
=(0.5*0.85)+((1-0.5)*0.90)= 0.88
For rest of the month to be as below:
Month
Price/Pound
Forecast
1
0.85
0.90
2
0.82
0.88
3
0.90
0.85
4
0.79
0.87
5
0.83
0.83
6
0.85
0.83
7
0.84
Calculating MAD for Forecasting with alpha 0.1
Mean absolute deviation (MAD) , In this we 1st find the errors of forecasting by subtracting forecasted value from actual value as below:
Month
Price/Pound
Forecast
Error
1
0.85
0.90
-0.05
2
0.82
0.90
-0.08
3
0.90
0.89
0.01
4
0.79
0.89
-0.10
5
0.83
0.88
-0.05
6
0.85
0.87
-0.02
Now we convert ERROR value in absolute values as below:
Month
Price/Pound
Forecast
Error
|Error|
1
0.85
0.90
-0.05
0.05
2
0.82
0.90
-0.08
0.08
3
0.90
0.89
0.01
0.01
4
0.79
0.89
-0.10
0.10
5
0.83
0.88
-0.05
0.05
6
0.85
0.87
-0.02
0.02
Now we add up |Error| as below:
Month
Price/Pound
Forecast
Error
|Error|
1
0.85
0.90
-0.05
0.05
2
0.82
0.90
-0.08
0.08
3
0.90
0.89
0.01
0.01
4
0.79
0.89
-0.10
0.10
5
0.83
0.88
-0.05
0.05
6
0.85
0.87
-0.02
0.02
Total
0.31
Next we calculate MAD by dividing sum of |Error| by number of errors to get MAD
MAD = 0.31/6 = 0.5167
Same Process we repeat for forecast with alpha 0.5
Month
Price/Pound
Forecast
Error
|Error|
1
0.85
0.90
-0.05
0.05
2
0.82
0.88
-0.06
0.06
3
0.90
0.85
0.05
0.05
4
0.79
0.87
-0.08
0.08
5
0.83
0.83
0.00
0
6
0.85
0.83
0.02
0.02
Total
0.26
Now in this case Month 5 has 0 error means no error, so for this MAD your number of errors will be 5 rather than 6 as in previous forecast with alpha 0.1
MAD = 0.26/5 = 0.5200
So MAD of forecast with alpha 0.1 is lesser than MAD of forecast with alpha 0.5.
Forecast for month 7 with alpha 0.1 = 0.87
Forecast for month 7 with alpha 0.5 = 0.84
Read more about price data here:
https://brainly.com/question/30202359
#SPJ1