Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer:
1. 300 tires
2. 150 units
3. 32 times
4. 11.4 days
5. $2,400
6. $2,400
Explanation:
Economic order quantity is the quantity at which business incur minimum cost. This is the level of order where the holding cost equals to the ordering cost of the business.
Material cost remains the same whatever the the order level. The costs that vary with the change in order level are ordering cost and holding cost.
The cost incurred to for each order placed is called ordering cost and cost which incurred to hold the inventory for a specific period is called holding cost.
EOQ = 
EOQ = 
EOQ = 300 units
1. EOQ is the level of order That should be placed to minimize the total cost of the business. The manager should order 300 tires in each lot.
2.
Average Inventory = EOQ / 2 = 300 / 2 = 150 units
3.
Number of orders = Total yearly demand / EOQ = 9,600 / 300 = 32 times
4.
Number of days = ( EOQ / total demand ) x 365 = 300 / 9600 x 365 = 11.4 days
5.
Fixed ordering cost = Total Demand / EOQ x $75 = (9600 / 300) x $75 = $2,400
6.
Holding cost = Average Inventory x holding cost per unit = 150 units x $16 = $2,400
Here Holding cost and ordering cost is same at EOQ level.
Answer:
- b. As the population in the United States ages, fewer workers have the physical ability to work in the industry.
- d. Due to global warming, working conditions on farms have become undesirable for more and more people.
- e. The adoption of strict immigration laws reduces the number of legal and illegal immigrants in the United States.
- h. New machinery is replacing workers in the harvesting of crops.
Explanation:
With workers getting older and being unable to be as productive as they used to be, they will have to drop out of industries that require physical strength including farming. This will therefore reduce people working in agriculture.
With global warming having made working in the fields much more harsh, people are avoiding careers that would keep them outdoors including farming which has led to a drop in the labor supply for agriculture.
A significant portion of workers in agriculture are immigrants so when immigration laws limit the number of immigrants coming in, labor supply in agriculture will reduce.
New machinery reduces the need for workers in agriculture so the more they are bought, the less workers are needed. This will therefore directly reduce the number of people working in agriculture.
Answer:
Current = 5.00
Company A = 6.30
Company B = 6.71
The company B would have the highest productivity in terms of revenue per dollar of input, that is 6.71.
Explanation:
Current:
Average time = 40 minutes
Cost = 40 minutes x $2 = $80
Productivity (Revenue per $ input) = $400 / $80 = 5.00
Company A:
Average time = 40 - 10 = 30 minutes
Cost = (30 minutes x $2) + $3.50 = $60 + $3.50 = $63.50
Productivity (Revenue per $ input) = $400 / $63.50 = 6.30
Company B:
Average time = 40 - 12 = 28 minutes
Cost = (28 minutes x $2) + $3.60 = $56 + $3.60 = $59.60
Productivity (Revenue per $ input) = $400 / $59.60 = 6.71
Current = 5.00
Company A = 6.30
Company B = 6.71
The company B would have the highest productivity in terms of revenue per dollar of input, that is 6.71.
Hope this helps!
Answer with Explanation:
"Unemployment" remains to be Zimbabwe's <em>very big challenge</em> in its society. The "employment syndrome" among the indigenous Zimbabweans is caused by several reasons of different origins.
One of the reasons is the country's "social culture." Working is considered a "social pressure" in the country. It doesn't stem from the individual's desire to work. So, this puts pressure unto the person when it comes to helping his family rise up from poverty. When one cannot achieve the desired job to do this, they are being laughed at in the society and <em>this creates more trouble. </em>
Another reason for this is that, the desired job that a person is looking for is "not available" in the country. People have hard time looking for work for many of these workplaces have already been shut down. So, this means that <em>the country's education doesn't coincide with the workforce in the country.</em>
"Lack of democracy" is also one reason. The country has been governed with <em>careless leadership</em>. This perpetuated unemployment because the government uses a <em>dishonest approach.</em> So, the educational issue and other developments in the country<u> cannot be addressed properly</u>.
