8) Carpenter Corporation uses the weighted-average method in its process costing system. This month,the beginning inventory in the first processing department consisted of 600 units. The costs and percentagecompletion of these units in beginning inventory were:Materials costsConversion costsCost$5,200$ 8,500Percent Complete60%55%A total of 7,800 units were started and 7,100 units were transferred to the second processing department duringthe month. The following costs were incurred in the first processing department during the month:CostMaterials costsConversion costs$ 95,000$169,200The ending inventory was 85% complete with respect to materials and 70% complete with respect to conversioncosts.The cost per equivalent unit for materials for the month in the first processing department is closest to:A) $11.31B)$12.21C)$11.58D) $11.93

Step 1:Computation of the equivalent units of production for materials:…

Answered: 8) Carpenter Corporation uses the…

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. As the Marketing Manager for Southeastern Corrugated, what would you do upon receiving the request for quotation from Coastal Products?
Lights Incorporated calculates cost for an equivalent unit of production using the weighted-average method. Data for July: Work-in-process inventory, July 1 (35,000 units): Direct materials (97% completed) Conversion (46% completed) Balance in work in process inventory, July 1 Units started during July Units completed and transferred Work-in-process inventory, July 31: Direct materials (97% completed) Conversion (46% completed) Cost incurred during July: Direct materials Conversion costs $ 122,950 77,400 $ 200,350 86,000 95,900 25,100 $ 185,500 266,000 The cost of goods completed and transferred out under the weighted-average method is calculated to be: (Round your Intermediate calculations to 2 decimal places and final answer to the nearest whole dollar amount.) Multiple Choice $627,740. $553,343. $578,840. $102,946. $569,680.
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Case Exercise 3: Demand Forecasting for an Insurance Company
Table 1. Demand of Hairdryer from January to July [Jadual 1. Permintaan Pengering Rambut dari Januari 2021 hingga Julai 2021] Month Demand January February 2800 2870 March 2968 April Мay 3000 3100 Jun 3150 July 3400 a) Calculate forecast future demand for May, June, July and August by using 3 months simple moving average.[hitung ramalan permintaan masa depan untuk bulan Mei, Jun, Julai dan Ogos dengan menggunakan purata bergerak sederhana 3 bulan.] *
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Mr. Zulhakim being assigned by his manager to develop their production planning for Year 2022. Table 3 shows the information that he able to obtain from the sales & marketing department. After doing the planning, Mr Zulhakim need to present it to his manager. Factory developed a demand forecast based on Table 3 with supplier charges about RM300.00 per unit. The demand forecast is stated as week but, in this planning, it is being considered as an annual quantity for the operation. Ordering cost is RM150.00. Annual holding cost is 10 percent of a purchased price. (b) Develop the ATP of this plan. Initial inventory on hand is 50 units obtained from Year 2021. Lot size for MPS can be obtained by using EOQ model. Table 3: Demand and Customer confirmed order quantity 8 9 10 2 3 10 40 10 00 30 20 40 20 30 Period (Week) 1 4 5 6 7 Forecast (units) Customer orders (booked) (unit) 20 8. 2
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Demand for the last four months was: July,20 units; August, 25 units; September, 34 units; October, 36 units. If the naive method was used to forecast the demand, what would MSE be for these months? O 5.33 O 17.34 O 1.25 O Correct answer is not provided. O 55
On Week a) Item: P24 hand 1 2 3 4 5 6 7 8 Forecast 30 30 30 40 40 40 45 45 Customer Orders 13 8 4 PAB 20 Available to Promise MPS b) Determine if each customer order will be accepted. Order Amount Week Accept (Y/N) 1 40 2 30 3 4 30 25 462M 3 Update the MPS time-phased record for accepted orders. Item: P24 Forecast Customer Orders Problem 3: The MPS planner at Murphy Motors uses MPS time-phased records for planning end-item production. The planner is currently working on a schedule for the P24, one of Murphy's top-selling motors. The planner uses a production lot size of 70 and a safety stock of 5 for the P24 motor. a) Complete the MPS time-phased record for product P24. Use the table on the left. b) Determine if Murphy Motors can accept each of the following customer orders. Update the MPS time- phased record for accepted orders. Order 1234 Amount 40 Desired Week 4 30 30 25 623 8 4 On Week hand 1 2 3 4 5 6 30 30 30 40 40 40 74 45 45 PAB 20 Available to Promise MPS On hand = 20

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