Sam's Cat Hotel operates 52 weeks per? year, 5 days per? week, and uses a continuous review inventory system. It purchases kitty litter for ?$11.50 per bag. The following information is available about these bags. Refer to the standard normal table LOADING... for? z-values.
Demand ?= 80 ?bags/week
Order cost? = ?$58?/order
Annual holding cost? = 30 percent of cost
Desired ?cycle-service levelequals90 percent
Lead time? = 2 ?week(s) ?(10 working? days)
Standard deviation of weekly demand? = 16 bags
Current ?on-hand inventory is 310 ?bags, with no open orders or backorders.
a. What is the? EOQ?
?Sam's optimal order quantity is
374 bags. ?(Enter your response rounded to the nearest whole? number.)
What would be the average time between orders? (in weeks)?
The average time between orders is
nothing weeks. ?(Enter your response rounded to one decimal? place.)
b. What should R ?be?
The reorder point is
nothing bags. ?(Enter your response rounded to the nearest whole? number.)
c. An inventory withdrawal of 10 bags was just made. Is it time to? reorder?
d. The store currently uses a lot size of 505 bags? (i.e., Qequals505?). What is the annual holding cost of this? policy?
The annual holding cost is ?$
nothing. ?(Enter your response rounded to two decimal? places.)
What is the annual ordering? cost?
The annual ordering cost is ?$
nothing. ?(Enter your response rounded to two decimal? places.)
Without calculating the? EOQ, how can you conclude from these two calculations that the current lot size is too? large?
A. When Q? = 505?, the annual holding cost is larger than the ordering? cost, therefore Q is too large.
B. Both quantities are appropriate.
C. There is not enough information to determine this.
D. When Q? = 505?, the annual holding cost is less then the ordering? cost, therefore Q is too small.
E. What would be the annual cost saved by shifting from the 505?-bag lot size to the? EOQ?
The annual holding cost with the EOQ is ?$
nothing. ?(Enter your response rounded to two decimal? places.)
The annual ordering cost with the EOQ is ?$
nothing. ?(Enter your response rounded to two decimal? places.)
?Therefore, Sam's Cat Hotel saves ?$
nothing by shifting from the 505?-bag lot size to the EOQ. ?(Enter your response rounded to two decimal? places.)
In: Accounting
Book Depot Inc. sells on terms of 3/20, net 45. What is the implicit cost of trade credit under these terms? Use a 365-day year.
Round the answer to two decimal places in percentage form. (Write the percentage sign in the "units" box)
In: Finance
Toledo Corp owns construction equipment worth $1.5M and has $500M in cash. Toledo Corp takes out a 5-year loan for $1M. Toledo Corp finances the construction of a new building entirely with cash. The cost of the construction is $1.5M. Please fill out Toledo Corp’s balance sheets shown below. The first balance sheet is before developing the new building and the second balance sheet is after developing the new building.
ANSWER
Toledo Corp’s balance sheets after taking the loan Before constructing the new building:
After constructing the new building:
|
Assets |
Liabilities & Equity |
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Cash |
Debt |
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Equipment |
Equity |
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Total |
Total |
||
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Assets |
Liabilities & Equity |
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New Building |
Debt |
||
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Equipment |
Equity |
||
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Total |
Total |
||
Toledo Corp sells the building to Bechtel for 20,000 Bechtel shares @ $100/share. Please fill out Toledo Corp’s balance sheet after proceeds from the sale of the new building to Bechtel:
|
Assets |
Liabilities & Equity |
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Bechtel shares |
Debt |
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Equipment |
Equity |
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Total |
Total |
||
In: Finance
2. Student pricing at the movie theater is a common example of third degree price
discrimination. What is it about students, as compared to everyone else, that makes
movie theaters want or need to charge them a lower price? Why is it important for
movie theaters to make students show their IDs? Additionally, suppose a student could
buy as many tickets as they wanted with their ID. How might that limit the theater’s
ability to charge two drastically different prices for students and non-students?
In: Economics
In a home theater system, the probability that the video components need repair within 1 year is 0.02, the probability that the electronic components need repair within 1 year is 0.005, and the probability that the audio components need repair within 1 year is 0.004. Assuming that the events are independent, find the following probabilities. (Round your answers to four decimal places.)
(a) At least one of these components will need repair within 1
year
(b) Exactly one of these component will need repair within 1
year
In: Statistics and Probability
Given numRows and numCols, print a list of all seats in a theater. Rows are numbered, columns lettered, as in 1A or 3E. Print a space after each seat, including after the last. Ex: numRows = 2 and numCols = 3 prints:
1A 1B 1C 2A 2B 2C
#include
int main(void) {
int numRows = 2;
int numCols = 3;
// Note: You'll need to declare more variables
/* Your solution goes here */
printf("\n");
return 0;
}
In: Computer Science
You are given the sample mean and the population standard deviation. Use this information to construct the 90% and 95% confidence intervals for the population mean. Interpret the results and compare the widths of the confidence intervals. If convenient, use technology to construct the confidence intervals. A random sample of 50 home theater systems has a mean price of $149.00. Assume the population standard deviation is $18.70.
Construct a 90% confidence interval for the population mean. The 90% confidence interval is ( _____, ______). (Round to two decimal places as needed.)
In: Statistics and Probability
Appendix E Analyzing Transactions with Journal Entries The Concordia Construction Corporation (CCC) was formed on March 1 of this year. The company is a full service construction company, specializing in excavation and construction of commercial buildings. Journalize the following transactions for the month of March for Concordia Construction Corporation and prepare a balance sheet and income statement for CCC for the month of March. March 1. The corporation is organized by selling stock for $100,000. March 1. Purchase a parcel of land for $28,000, paid $10,000 in cash and issued a promissory note for the balance. March 1. Purchased excavating equipment with cash for $30,000. March 1. Purchased a two-year liability insurance premium for $6,464, paying cash. March 9. Purchased office supplies, on account, for $1,260. March 11. Purchased a used backhoe for $7,500, paying cash. March 13. Paid $4,800 to rent an office/warehouse building for one year. March 14. Paid Brown Construction Company $8,000 for a pole-shed to be used as a yard office. Paid an additional cost of $2,000 to have the pole-shed moved to the Concordia Construction site.,
March 15. Paid employee wages of $14,000. March 17. Billed Madison Construction Company $8,000 for excavating work preformed on March 13. March 19. Received $15,000 from Brown Dear Contractors, Inc. for excavating work performed on March 5. March 21. Paid $8,000 on the note payable signed on March 1. March 23. Paid $2,300 for advertisement in trade magazine for March. March 23. Received check from Madison Construction Corporation for $4,000 for work completed in March. March 25. Received a bill for utilities from Alliant Energy Company for $1,200 to be paid in April. March 25. Paid BP Oil Company bill for $4,000 for gasoline used during March. March 27. Billed New Berlin Contractors, Inc. $7,500 for work preformed in March. March 28. Paid $2,550 for repairs made on bulldozer. March 29. Recognized insurance expense for the month of March.
March 30. Recognize the employee wages expense of $4,000; these wages to be paid in April. March 30. Remaining office supplies amount is $600. March 30. Recognized a portion of the prepaid rent on the office/warehouse. Post all of the transactions to the appropriate income statement or balance sheet for Concordia Construction Corporation. Concordia Construction Corporation The Income Statement For the Month Ended March 31 Revenues: Expenses: Excavating Revenues Employee Wages Expense Utilities Expense Office Supply Expense Advertising Expense Rent Expense Gasoline Expense Insurance Expense Repairs Expense Concordia Construction Corporation Balance Sheet as of March 31 Assets: Cash Accounts Payable (A/P) Accounts Receivable (A/R) Note Payable Prepaid Insurance Wages Payable Office Supplies Land Common Stock Building Retained Earnings Equipment
Analyzing Transactions with Journal Entries Concordia Construction Corporation Accounts Revenues Excavating Revenues Expenses Employee Wages Expense Utilities Expense Office Supplies Expense Advertising Expense Rent Expense Gasoline Expense Insurance Expense Repairs Expense Assets Cash Accounts Receivable (A/R) Prepaid Insurance Prepaid Rent Office Supplies Land Building Equipment Liabilities Accounts Payable (A/P) Note Payable Employee Wages Payable Owners Equity Retained Earnings Owners Equity
In: Accounting
Define rework in construction project and milestone in construction project and give example .
In: Civil Engineering
Customers arrive at a movie theater at the advertised movie time only to find that they have to sit through several previews and prepreview ads before the movie starts. Many complain that the time devoted to previews is too long. A preliminary sample conducted by The Wall Street Journal showed that the standard deviation of the amount of time devoted to previews was four minutes. Use that as a planning value for the standard deviation in answering the following questions. a. If we want to estimate the population mean time for previews at movie theaters with a margin of error of 69 seconds, what sample size should be used? Assume 95% confidence. b. If we want to estimate the population mean time for previews at movie theaters with a margin of error of 1 minute, what sample size should be used? Assume 95% confidence.
In: Statistics and Probability