Question

In: Operations Management

The stationery and greeting cards department was given the following data to use in developing a...

The stationery and greeting cards department was given the following data to use in developing a merchandise plan for the spring-summer season:

Planned sales for the season               $90,000

February 1 inventory                             31,320

July 31 inventory                                  36,000

Season markdown percent                  5.43%

                                               

% of Season’s             BOM Stock Sales               % of Season’s

Month                    Sales                             Ratio                                    Markdowns

February                 12%                               2.9                                     6.6%

March                      14%                               2.7                                     4.5%

April                        20%                               2.2                                     4.7%

May                         21%                               2.1                                     4.9%

June                         19%                               2.2                                     5.2%

July                         14%                               2.7                                     7.5%

        

Calculate:

Monthly planned sales

BOM stocks

Monthly and total season planned dollar markdowns

Monthly and total season planned purchases at retail

Solutions

Expert Solution

keosha answered 6 months ago
Next > < Previous

Related Solutions

The stationery and greeting cards department was given the following data to use in developing a...
The stationery and greeting cards department was given the following data to use in developing a merchandise plan for the spring-summer season: Planned sales for the season               $90,000 February 1 inventory                             31,320 July 31 inventory                                  36,000 Season markdown percent                  5.43%                                                 % of Season’s             BOM Stock Sales               % of Season’s Month                    Sales                             Ratio                                    Markdowns February                 12%                               2.9                                     6.6% March                      14%                               2.7                                     4.5% April                        20%                               2.2                                     4.7% May                         21%                               2.1                                     4.9% June                         19%                               2.2                                     5.2% July                         14%                               2.7                                     7.5%          Calculate: Monthly planned sales BOM stocks Monthly and total season planned dollar markdowns Monthly and total season planned purchases at retail
A stationery store wants to estimate the mean retail value of greeting cards that it has...
A stationery store wants to estimate the mean retail value of greeting cards that it has in its inventory. A random sample of 100 greeting cards indicates a mean value of ​$2.53 and a standard deviation of ​$0.41 . Complete parts​ (a) and​ (b). A. Is there evidence that the population mean retail value of the greeting cards is different from $2.50 ​? ​(Use a 0.10 level of​ significance.) State the null and alternative hypothesis. Identify the critical value(s). Determine...
During the month of February Hallmark announced that there is a shortage for romantic greeting cards...
During the month of February Hallmark announced that there is a shortage for romantic greeting cards due to a delivery problem. Draw and the graph and explain which curve shift first and, then what cause the second curve to shift. Final what happens to price and quantity at the nee equilibrium point?
Problem 7.6A. Unmatched Elegance Gift Shop sells cards, supplies, and various holiday greeting cards. Sales to...
Problem 7.6A. Unmatched Elegance Gift Shop sells cards, supplies, and various holiday greeting cards. Sales to retail customers are subject to an 8 percent sales tax. The firm sells it merchandise for cash; to customers using bank credit cards, such as MasterCard and VISA; and to customers using American Express. The bank credit cards charge a 2 percent fee. American Express charges a 3 percent fee. Unmatched Elegance Gift Shop also grants trade discounts to certain wholesale customers who place...
A stationary store wants to estimate the mean retail value of greeting cards that it has...
A stationary store wants to estimate the mean retail value of greeting cards that it has in its inventory. A random sample of 20 greeting cards indicates a sample mean value of $4.95 and a sample standard deviation of $0.82. (a) Assuming the population follows a normal distribution, construct a 95% confidence interval estimate of the mean of all greeting cards in the store’s inventory. (Hint: use the t-tables.) (b) Interpret the interval constructed in part (a). (Hint: an interpretation...
1. Grace Greeting Cards Incorporated is starting a new business venture and are in the process...
1. Grace Greeting Cards Incorporated is starting a new business venture and are in the process of evaluating its product lines. Information for one new product, traditional parchment grade cards, is as follows: ∙     Sixteen times each year, a new card design will be put into production. Each new       design will require $600 in setup costs. ∙     The parchment grade card product line incurred $75,000 in development costs and       is expected to be produced over the next four...
A philanthropic organisation sent free mailing labels and greeting cards to a random sample of 100...
A philanthropic organisation sent free mailing labels and greeting cards to a random sample of 100 comma 000 potential donors on their mailing list and received 5404 donations. ​(a) Give a 90​% confidence interval for the true proportion of those from their entire mailing list who may donate. ​ (b) A staff member thinks that the true rate is 5.2​%. Given the confidence interval you​ found, do you find that rate​ plausible?
Greetings Inc. has operated for many years as a nationally recognized retailer of greeting cards and...
Greetings Inc. has operated for many years as a nationally recognized retailer of greeting cards and small gift items. It has 1,500 stores throughout the United States located in high-traffi c malls. As the stock price of many other companies soared, Greetings’ stock price remained fl at. As a result of a heated 2013 shareholders’ meeting, the president of Greetings, Robert Burns, came under pressure from shareholders to grow Greetings’ stock value. As a consequence of this pressure, in 2014...
10. (Short Answer) Grace Greeting Cards Incorporated is starting a new business venture and are in...
10. (Short Answer) Grace Greeting Cards Incorporated is starting a new business venture and are in the process of evaluating its product lines. Information for one new product, traditional parchment grade cards, is as follows: ∙Sixteen times each year, a new card design will be put into production. Each new design will require $600 in setup costs. ∙The parchment grade card product line incurred $75,000 in development costs and is expected to be produced over the next four years. ∙Direct...
Use the data given in the table to answer the following questions. The data represents the...
Use the data given in the table to answer the following questions. The data represents the average number of miles that a salesperson travels in a day verses the number of sales made each month. Miles, x 24 32 75 41 76 107 32 46 112 Sales, y 76 58 190 112 141 235 24 147 188 (a) What is the value of the correlation coefficient for this set of data? Round to 3 decimal places. (b) What is the...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT