Problem 1The following information applies to the City View Restaurant.May 1 Food inventory value:$73,480 bnldeMay 31 Food inventory value:$77,550bonenCost of food used during May$386,4101. What is the inventory turnover rate for food products for the City View Restaurant?2. What does the answer (inventory turnover ratio) in question 1 mean?

Inventory control is also described as the control of stock and is a means of managing of inventory…

Answered: Problem 1 The following information…

Marketing

20th Edition

ISBN:9780357033791

Author:Pride, William M

Publisher:Pride, William M

Chapter19: Pricing Concepts

Section: Chapter Questions

Problem 6DRQ

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Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. Is Ben Gibson acting legally? Is he acting ethically? Why or why not?
Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. As the Marketing Manager for Southeastern Corrugated, what would you do upon receiving the request for quotation from Coastal Products?
Problem 3-14 (Algo) Demand for stereo headphones and music players for joggers has caused Nina Industries to grow almost 50 percent over the past year. The number of joggers continues to expand, so Nina expects demand for headsets to also expand, because, as yet, no safety laws have been passed to prevent joggers from wearing them. Demand for the players for this year was as follows: MONTH DEMAND (UNITS) 4,150 4,25e 3,950 4, 350 4,95e 4,650 5,25e 4,850 5,35e 5,65e 6,25e 5,95e January February March Аpril Мay June July August September October November December a. Using linear regression analysis, what would you estimate demand to be for each month next year? Using a spreadsheet, follow the general format in Exhibit 3.8. (Do not round Intermedlate calculatlons. Round your answers to 2 decimal places.) Month Forecast January February March April May June July August September October November December b. To be reasonably confident of meeting demand, Nina decides to use 3 standard errors…
Subject: Logistic management Q): calculate inventory turn over ratio, Where sales is 2,000,000COGS is 65% of sales And average inventory is 125,435 What will be inventory ratio in days and weeks
Question 6 of 10 Moving to another question will save this response. Question 6 The following transactions relate to the SHEHNILA CORP. for the month of November 2015: Product - A Product – B Production 10,000 units 8,000 units Beginning Inventory 1,000 units 900 units Ending Inventory 2,000 units 100 units Unit Cost applicable to inventories and Production Direct Material Rs. 4 per unit Rs. 3 per unit Direct Labour Rs. 10 per unit Rs. 20 per unit Factory Overhead Rs. 7 per unit Rs. 14 per unit Actual FOH was Rs. 182,400, under or over applied factory overhead is to be adjusted in Cost of Goods Sold. Calculate Conversion Cost.
What do figures below mean
Problem 16-15 (Algo) The owner of a large machine shop has just finished its financial analysis from the prior fiscal year. Following is an excerpt from the final report: Net revenue Cost of goods sold Value of production materials on hand Value of work-in-process inventory Value of finished goods on hand Inventory turnover ratio $350,000 307,000 a. Compute the inventory turnover ratio (ITR). (Round your answer to 1 decimal place.) Weeks of supply 42,500 47,000 17,500 per year b. Compute the weeks of supply (WS). (Do not round intermediate calculations. Round your answer to 1 decimal place.)
4. In the past, Peter Kelle's tire dealership in Baton Rouge sold an average of 1,100 radials each year. In the past 2 years, 220 and 250, respectively were sold in fall, 360 and 300 in winter, 150 and 160 in spring, and 320 and 440 in summer. With a major expansion planned, Kelle projects sales next year to increase to 1,300 radials. Part 2 Based on next year's projected sales, the demand for each season is going to be (enter your responses as whole numbers): Season Demand Fall __________
Discussion Questions 1. The customer order decoupling point was described as the point at which the demand changed from independent to dependent. Describe what this means and why it is important to managers. 2. Provide examples of make-to-stock, assemble-to-order, and make-to-order products. What advantages are there in moving from make-to-stock to assemble- or make-to- order?
Demand for stereo headphones and MP3 players for joggers has caused Nina Industries to grow almost 50 percent over the past year. The number of joggers continues to expand, so Nina expects demand for headsets to also expand, because yet, no safety laws have been passed to prevent joggers from wearing them. Demand for the players for last year was as follows: MONTH DEMAND (UNITS) January 4,220 February 4,320 March 4,020 April 4,420 May 5,020 June 4,720 July 5,320 August 4,920 September 5,420 October 5,720 November 6,320 December 6,020 Using linear regression analysis, what would you estimate demand to be for each month next year? (Round two decimal places) To be reasonably confident of meeting demand, Nina decides to use 3 standard errors of estimate for safety. How many additional units…
Problem 16-16 (Algo) The McDonald's fast-food restaurant on campus sells an average of 4,800 quarter-pound hamburgers each week. Hamburger patties are resupplied twice a week, and on average the store has 465 pounds of hamburger in stock. Assume that the hamburger patties cost $3 a pound and there are 52 weeks in a year. a. What is the inventory turnover for the hamburger patties? (Round your answer to 2 decimal places.) Inventory turnover ratio per year b. On average, how many days of supply are on hand? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Average days of supply
Problem 16-11 (Algo) One of your Taiwanese suppliers has bid on a new line of molded plastic parts that is currently being assembled at your plant. The supplier has bid $0.10 per part, given a forecast you provided of 100,000 parts in year 1; 300,000 in year 2; and 500,000 in year 3. Shipping and handling of parts from the supplier's factory is estimated at $0.01 per unit. Additional inventory handling charges should amount to $0.003 per unit. Finally, administrative costs are estimated at $30 per month. Although your plant is able to continue producing the part, the plant would need to invest in another molding machine, which would cost $20,000. Direct materials can be purchased for $0.05 per unit. Direct labor is estimated at $0.04 per unit for wages plus a 50 percent surcharge for benefits and, indirect labor is estimated at $0.011 per unit plus 50 percent benefits. Up-front engineering and design costs will amount to $50,000. Finally, management has insisted that overhead be…

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