StudyQuestions_CH20_001

When priced at $10, Jasmine sells five packages of her home-made Mediterranean flat-bread per day. When she raised her price to $15, she still sold five packages per day. Based on this information, the demand for her flat-bread is            A) price inelastic.      B) perfectly price inelastic.     C) unit price elastic.      D) perfectly price elastic

Revenue management requires management to deal with:a) multiple pricing structures.b) changes in demand.c) fo recasts of use.d) forecasts of duration of use.c) all of the above

SoundsUp, a local amphitheater is getting ready for the upcoming summer concert season. They want to purchase reusable plastic water bottles to sell to concert attendees. Bottles cannot be reused as they will be customized with that week's artist and date. The expectation for this upcoming concert is an average demand for 3000 bottles with a standard deviation of 600. The bottles sell for $20.00 each and cost SoundsUp $12 per bottle. In the event some bottles are left over after the concert, a local radio station has indicated that they will purchase some of the leftover bottles for $15 per bottle for use in promotions, but they have not committed to any particular number that they will buy. SoundsUp estimates a 5% chance that the radio station will purchase no bottles, a 10% chance they purchase 150, a 40% chance they purchase 175, a 30% chance they purchase 225, and a 15% chance they purchase 275. If SoundsUp has any leftover bottles that are not purchased by the radio station, then…

Please help with the numbers given below! Richardson Ski Racing (RSR) sells equipment needed for downhill ski racing. One of RSR's products is fencing used on downhill courses. The fence product comes in 150-foot rolls and sells for $215 per roll. However, RSR offers quantity discounts. The following table shows the price per roll depending on order size: Quantity Ordered From To Price per Roll 1 80 $215 81 160 $195 161 320 $175 321 and up $155 Click on the datafile logo to reference the data. (a) Use the VLOOKUP function with the preceding pricing table to determine the total revenue from these orders. $ (b) Use the COUNTIF function to determine the number of orders in each price bin. From To Price per Roll Number of Orders 1 80 $215 81 160 $195 161 320 $175 321 and up $155 172

Please help me with this practice problem. Please use specific equations that apply and where to put them. Please list out the steps. Thank you

Maya is setting prices for her home remodeling business. Over the course of the year, there are times of peak activities—such as pre-holidays—and times when consumers were not as interested in home remodeling. This is an issue throughout the industry, so she knows it isn’t just her business. After she determines a base price for the service, she could stimulate demand during the slow periods by using   a. premium pricing   b. no-cost consultations   c. bundling   d. discounts

The management of two different-sized sachets of maize meal—5 kg and 3 kg—is entrusted to you. The larger sachet is priced at R45 and the smaller one is R30, according to Shoprite your primary supplier. Currently, the promotion for the smaller packet says, "Buy ONE get the second HALF PRICE!" Propose which size of Sugar currently gives you the best value for money.what is the annual demand of Maize Meal = 750 units (bigger size), Delivered purchase cost = R35/units, Annual carrying cost percentage= 25 percent, Order cost = R50/order. The lead time is 10 working days. Assuming 20 working days per month. Determine the Economic Order QuantityDetermine the reorder pointDetermine the average inventorySuppose orders are placed only at review time. what is the optimal period and the optimal order quantity.

Please do not give solution in image format thanku

Grand Styles Furniture Store is overstocked in (has excess inventory of) one type of chair. Based on the Price-Demand Relationship, what advice would you provide to the store manager to deal with this problem? Please use no more than 2 bullet points

customers. Do this in your notebook. and customers. Do this in Situation: a substantial number of customersS who will claim remittance through him and will buy his sari-sari store afterwards. Value Proposition: Unique Selling Proposition:

Please only answer D-1 and D-2 Assume that Painless Dental Clinics, Inc., offers three basic dental services. The following are its prices and costs.     Priceper Unit Variable Costper Unit Units Soldper Year Cleaning $ 400   $ 220   8,500 Filling   680     660   1,200 Capping   1,550     920   300     Variable costs include the labor costs of the dental hygienists and dentists. Fixed costs of $540,000 per year include building and equipment costs, marketing costs, and the costs of administration. Painless Dental Clinics is subject to a 20 percent tax rate on income.   A cleaning “unit” is a routine teeth cleaning that takes about 45 minutes. A filling “unit” is the work done to fill one or more cavities in one session. A capping “unit” is the work done to put a crown on one tooth. If more than one tooth is crowned in a session, then the clinic counts one unit per tooth (e.g., putting crowns on two teeth counts as two units).   Required: a. Given this information, how…

Suthar Timber Merchants in Patiala, India, features a large selection of building supplies,including timber, fencing and decking, moldings, hardwood flooring, sheet materials,windows, doors, ironmongery, and other materials. The prices of building materials areconstantly changing. When a customer asks about the price on fixtures, fittings, hangings,and other items, sales representatives consult a manual price sheet and then call thesupplier for the most recent price. The supplier in turn uses a manual price sheet, whichFor Theoretical AnswerAssessment Parameter WeightageIntroduction 20%Concepts and Applicationrelated to the question60%Conclusion 20%For Numerical AnswerAssessment Parameter WeightageUnderstanding and usageof the formula20%Procedure / Steps 50%Correct Answer &Interpretation30%has been updated each day. Often, the supplier must call back Suthar's sales reps becausethe company does not have the newest pricing information immediately on hand. Assesshow the use of ERP…

To drive more sales of its new LED light bulbs, GreenLED gave customers who sent in the right paperwork, a check for $1 for each light bulb they purchased. This is an example of

Explain how RPM can be used to increase retailer demand for inventories and thereby increase manufacturer profit. Explain whether profitable RPM can either increase or decrease welfare and how this depends on the variation in demand. Use diagrams and verbal explanation to explain your answer. Demonstrate the profit and welfare consequences of RPM by solving the 'RPM and Inventories Model' model done in class for the parameter value indicated below. RPM and Inventories Model Manufacturer MC = 0, Dealer MC = 0, Low and high demand are equally likely Low demand: qL = 1 - pL, High demand: qH = S(1 - pH) Parameter value: S = 4

1) Grand Styles Furniture Store is overstocked in (has excess inventory of) one type of chair. Based on the Price-Demand Relationship, what advice would you provide to the store manager to deal with this problem? Please use no more than 2 bullet points for your answer. 2) Fancy Fashions sells jeans for $59 and sweaters for $39, To increase sales of jeans and sweaters, Fancy Fashions promotes this Product Price Bundle: "Buy a pair of jeans and a sweater for $98'. Will this Product Price Bundle will work well to increase the sales of jeans and sweaters? Explain your answer In no more than 2 bullet points. 3) What Is the man (most Important) way that Cost-Based Pricing is different from Customer Value-Based Pricing? Please use no more than 2 bullet points for your answer. 4) Would the cost of coffee beans purchased by McDonald's be a Fixed Cost or a Variable Cost? Please use no more than 2 bullet points for your answer.

We have demand for a product with 1500 units/ month. The vendor offers. quantity discounted method for purchasing as the table below: Order Quantity condition Price (USD) 1+299 10 >300 7 Ordering lead-time is 3 days. Ordering cost 10 $/ order, salary for ordering staff is 3S/ order. Monthly Warehouse renting free is 5%, and interest rate is 7%. Salary for warehousing staff is 300$/month. Please suggest the best ordering policy. I

is the percentage of the billed cost given by a vendor when a stipulated quantity is purchased. 1. Quantity Discount 2. Cash Discount 3. Vendor discount 4. List price discount

Which term describes the phenomenon where fans are willing to pay more for tickets to high-demand games, such as rival matches or playoff games?   A. Price discrimination B. Dynamic pricing C. Elastic demand. D. Inelastic demand.

What are the average sales of S1, S2 and S3?

Great Skin Corporation tries to acquire sehlf space in major supermarkets, (SM, Robinsons, Rustans supermarket) because its target market (young women) frequently shops there for skincare and haircare products. Great Skin Corporation move refers to which of the 4P's?PriceProductPromotionPlace Personnel

A 30-minute massage at Massage Envy costs on average about $50. A massage at The Woodhouse Day Spa in contrasts costs about $125 for a 30-minute massage. Unlike physical products whose price is largely dependent on the quality of materials used to produce it, the price of services is often harder to determine What can contribute to the price disparity in the example above? Include in your discussion the characteristics of services discussed in Chapter 13 and presented in the video clips in this module.

In this method a price reduction is given to customers based on the quantity of their purchase. a. Trade b. Seasonal discount O c. Quantity discount d. Quality discount

Your widget factory requires GWium for polishing. GWium is expensive but worth it and a little goes a long way. Each widget requires 0.1 ounces of GWium to produce. Your supply contract enables you to buy 10,000 ounces of GWium per day for $30/ounce. This is a good deal; the market price is $40/ounce. Total cost of other materials and labor (excluding GWium) is $2.25/widget. You sell to a wholesaler, who buys all widgets you produce at a non-negotiable price of $6.25/widget. Which of the following are true. A. Selling the widgets is a much better course of action than selling the GWium B. Selling the GWium on the open market is a much better course of action than making the widgets O C. You could produce 100,000 widgets per day D. Both A and B E. Both B and C

Please do not give solution in image format thanku The purchasing department can reduce order quantity and work wtih suppliers to deliver purchases items more frequently. This should lower total inventory.   Make option Buy option   fixed cost $125,000 Fixed Cost $5,000   Variable Cost $15 Variable Cost $17   Find the break-even quantity and the total cost at the break-even point.

The regular price is $569. The store is offering a 25% discount and a sales tax of 6% is added after the discount. What is the total cost of the TV

At a recent manufacturing workshop, XYZ, Incorporated explained that demand for disposable masks increase rapidly in March 2020 when quarantine mandates first took effect. At the time, retailers could only place a single order to cover demands through the end of the summer. A certain retailer purchased disposal masks from a supplier at a cost of $20 per unit and sold them for $30 per unit. By the end of summer, demand for masks subsided considerably and all masks that weren't sold during the summer could be sold at a discounted price of $18 per unit. The retailer estimated that demand between March and August would be Normally distributed with mu = 10,000 and sigma = 1525 units With, supply chains becoming more stable since March 2020, the retailer is currently in the process of establishing a contract with a disposable mask supplier. The supplier has agreed to sell masks to the retailer for $18 per unit and will make deliveries any time the supplier places an order for a cost of $100…

Please help solve all questions

Don't give answer in image format

Exel Division is part of the Supeer Group. It produces a basic fabric that is then converted in other divisions within the group. The fabric is also produced in other divisions within the Supeer Group and a limited quantity can be purchased from outside the group. The fabric is currently charged out by Exel Division at total actual cost plus 20% profit mark-up. Required: Explain why the current transfer pricing method used by Exel Division is unlikely to lead to: a) maximization of group profit b) and effective divisional performance measurement.

Pls solve this question correctly in 5 min i will give u like for sure Question # 1 Teresa Cohan is attempting to perform an inventory analysis on one of her most popular products. Annual demand for this product is 5,000 units; unit cost $200; carrying cost is considered to be approximately 10% of the unit price. Order costs for her company typically run nearly $30 per order and lead time averages 10 days. Discounted unit cost of Rs. $150 (carrying cost remain the same) for more than 300 units is also being offered. (Assume a 50-week year. a)What is economic order quantity? b)What is the reorder point? c)What is the total carrying + ordering cost? d)What is optimal number of orders per year? e)Would you recommend availing the discount?

Please answer with short explanation. I will really upvote. ASAP. Thanks

The purchasing agent for a company that assembles and sells air-conditioning eqpt in US has noted that the cost of compressors has increased significantly each time they have reordered. The company uses EOQ model to determine order size. What are the implications of this price escalation with respect to order size? What factors other than price must be taken into consideration?

Please help me with this practice problem. Please be specific on where to put the equations and what equations to use. Thank you

The management of two different sized sachets of maize meal—5 kg and 3 kg—is entrusted to you. The larger sachet is priced at R45 and the smaller one is R30, according to Shoprite your primary supplier. Currently, the promotion for the smaller packet says, "Buy ONE get the second HALF PRICE!"  2.1 Propose which size of Sugar currently gives you the best value for money.

This is my guess, what is the correct answer?

MAY I ASK FOR THE SOLUTIONS AND ANSWERS OF NOS. 12 to 17 (kindly refer to the table) Thank you! ABC Corporation resells one type of candle. It has 250 working days. Each day, it sells an average of 500 boxes but may sometimes sell a maximum of 600 boxes. The supplier takes an average of 5 days to deliver the order. During busier times, the supplier may take 7 days. Based on ABC’s records, ordering cost average P400 per order. Storage cost per box average P5 per year. There is also an opportunity cost of 1% per year for every peso invested in inventories. Each box of candles costs P450. If ABC would continue its current inventory management policy, it would keep 10,000 boxes as safety stock and order tendays-worth of inventory. (A) Reorder Point 1. What should be the reorder point in boxes? 2. How much would the normal lead time usage be? 3. How much should ABC keep as safety stock? (B) Economic Order Quantity 4. What is the annual demand for the boxes of candles? 5. How much is the…

Help me understand how to do this problem