Skinnerís Fish Market buys fresh Boston blueÖsh daily for $4.80 per pound and sells it for $11.20 per pound. At the end of each business day, any remaining blueÖsh is sold to a producer of cat food for $3.20 per pound. Daily demand can be approximated by a normal distribution with a mean of 88 pounds and a standard deviation of 19 pounds.
1. [4 marks] What are the shortage cost and excess cost?
2. [3 marks] What is the critical ratio?
3. [7 marks] How much fresh Boston blueÖsh should Skinnerís Fish Market order so as to maximize the total expected proÖt?

Answers

Answer 1

1. Shortage Cost= $6.40 per pound
Excess Cost= -$8.00 per pound
2. Critical Ratio= 1.00.3.
3. The optimal order quantity= 28.62 pounds

Skinner’s Fish Market is engaged in the business of buying fresh Boston bluefish for $4.80 per pound and selling it for $11.20 per pound. At the end of each business day, any remaining bluefish is sold to a producer of cat food for $3.20 per pound. The daily demand can be approximated by a normal distribution with a mean of 88 pounds and a standard deviation of 19 pounds.
The following are the calculations of the required answers:
1. Shortage Cost and Excess Cost:
Shortage Cost = Selling Price – Purchase Price = $11.20 – $4.80 = $6.40 per pound.
Excess Cost = Salvage Price – Selling Price = $3.20 – $11.20 = -$8.00 per pound (negative value means no excess cost).
2. Critical Ratio:Critical Ratio = (Shortage Cost) / (Shortage Cost + Excess Cost) = 6.4 / (6.4 + 0) = 1.00.3.
3. Order Quantity:Q* = (zσ + µ - D) / A
Where Q* is the optimal order quantity
A is the selling price per unit minus the variable cost per unit = 11.2 – 4.8
= $6.40z is the number of standard deviations from the mean µ.
It can be calculated by dividing the difference between the optimal service level and the mean by the standard deviation.z = (Service Level – Mean) / Standard Deviation = (0.9 – 0.55) / 0.19 = 1.842
D is the mean demand = 88σ is the standard deviation of demand = 19
Therefore,Q* = (1.842 x 19 + 88 - 0) / 6.40 = 28.62 pounds
Thus, Skinner's Fish Market should order 28.62 pounds of fresh Boston bluefish so as to maximize the total expected profit.

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Related Questions

Suppose your risky portfolio includes the following investments in the given proportions:

Stock A 27%
Stock B 33%
Stock C 40%

30% in T Bill & 70% in your account
What are the investment proportions of your client's overall portfolio, including the position in T-bills?

Answers

Return anticipated: 14% and 18.9% standard deviation. The hazardous portfolio accounts for 70% of the investment, so each stock in it needs to be multiplied by that percentage.

Calculation:

Stock A: 27% times 70% is 18.9%

Stock B: 23.1% x 33% x 70% 40% * 70% = 28% for Stock C

T-Bill: 30%

T-bills have no defaults, hence their standard deviation will be zero. The standard deviation of the client's portfolio is calculated using the weights and the portfolio's standard deviation of 27.

The weight of an investment is the proportionate distribution of various investments within a portfolio. The portfolio's overall returns can be calculated only using these weights.

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the obligation to be fair in the distribution of benefits and risks is referred to as

Answers

The obligation to be fair in the distribution of benefits and risks is referred to as **distributive justice**.

Distributive justice is a moral and ethical principle that requires the fair distribution of benefits and burdens among members of a society or group. This principle is based on the idea that all individuals have a right to a fair share of the benefits and resources available in a society and that risks and burdens should be shared equally as well. Distributive justice is often used in discussions of economic policy, where policymakers must make decisions about how to allocate resources and distribute benefits and risks. This principle also applies to social policies and programs, such as healthcare, education, and welfare, where the goal is to ensure that all members of society have access to basic resources and opportunities. By upholding the principle of distributive justice, individuals and societies can work towards greater fairness and equality, and ensure that everyone has a chance to thrive and succeed.

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In order to pool or share resources and know-how with a foreign company and subsequently share the rewards and risks of starting a new venture in a foreign country, an organization would pursue a?

Answers

To pool or share resources and know-how with a foreign company and subsequently share the rewards and risks of beginning a new venture in a foreign country, an organization would pursue a strategic alliance.

What is strategic alliance?

A strategic alliance is an agreement between two businesses to work together on a project that will benefit both parties while maintaining their individual freedom. Compared to a joint venture, which involves two companies pooling resources to form a new business organisation, the arrangement is less intricate and legally enforceable. A strategic alliance is an agreement between two or more parties to work together to achieve a certain set of goals while still operating as independent businesses.

Strategic alliances are not a fix-all for every business and circumstance. However, through strategic alliances, businesses can strengthen their market position, enter new markets, add necessary talents, and split the cost and risk of large-scale development initiatives.

Hence, To pool or share resources and know-how with a foreign company and subsequently share the rewards and risks of beginning a new venture in a foreign country, an organization would pursue a strategic alliance.

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1.What is MONEY?
2.did MONEY help you?
pls ans im back

Answers

1. Money is a very valuable thing that helps you live. You can get money by getting a job, but there are lots of other ways to get money.

2. money helps with you being able to afford things. Money can get you a house, a tv, or even a phone.

How do I get an old phone or a phone from someone without paying?

Answers

Answer:

go on the wish website and order one

Explanation:

How do I get an old phone or a phone from someone without paying?

Answer:

If you want a device you usually would have to pay unless someone give it to you as a gift. Or if you go to pawn shops or to someone who's willing, you can do a trade. You give them something for a phone. But most of the time your gonna have to end up paying something for a phone, even if its not money directly you might have to give something up.

Explanation:

HGD

even though you believe college tuition should be increased to meet rising expenses, you go along with a group of friends as they organize a protest for lower tuition. this is an example of:

Answers

To maximize benefits and cut down on expenditures is the goal of this trade.In keeping with this notion, people evaluate the advantages and disadvantages of their social connections.

What does it mean that people engage in a way that maximizes benefits and minimizes costs? You join a group of friends as they plan a demonstration for cheaper tuition, despite the fact that you think college tuition should be raised to keep up with rising costs.Identification is demonstrated by this.According to the social exchange theory, exchange processes lead to social behavior.To maximize benefits and cut down on expenditures is the goal of this trade.In keeping with this notion, people evaluate the advantages and disadvantages of their social connections.Government elections call for voting in secret so that we are not subject to outside pressure because it has been found that replies are more likely to be conformist when they are public than when they are private.When kids must publicly cast their votes for something, the Asch effect is plainly visible.

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Plan B” is the label used to describe what you would do if your job ended and might include a. learning new skills. b. developing networking contacts. c. getting a part-time job. d. all of the above.

Answers

Answer:

Explanation:

sense I help you you help me, What are the effects of El Nino? (4 only)

Help me please... help

Answers

Answer:

Job Analysis can be understood as the process of gathering information related to the specific job. ... Job description is a document indicating what a job covers, i.e. tasks, responsibilities, duties, powers and authorities, attached to a job.

his lesson starts on time (change into negative)

Answers

Answer:

His lesson started late

Explanation:

it’s changes intopositive

When a department has no idle capacity and will interrupt their current level of sales to regular customers, the lowest acceptable transfer price to supply product to another division is ______.

Answers

The lowest acceptable transfer price at which the product can be supplied to the regular customer, during no idle capacity, is the selling price of the product.

What is idle capacity?

The idle capacity in terms of the manufacturing department can be understood as the remaining capacity held by the business over its regular production.

Thus, when a department has achieved its idle capacity due to which the current sales to the regular customer will hamper. In this case, the department cannot transfer or supply the product below its basic selling price.

Therefore, the selling price can be taken as the lowest acceptable transfer price.

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Question # 1 Long Text (essay) Submit two news story summaries, noting the following: agency name(s), parties affected by the decision, status on period for comment, status on decision-making, and what decisions you would make in similar situations.

Answers

The answer is The public may not make technical decisions, but their opinions deserve consideration by those who are making those decisions.

What does making decisions mean?

The process of choosing a course of action involves recognizing a decision, acquiring data, and weighing potential answers.

What three ways can one make a decision?

Based on the level at which they occur, decision-making may also be divided into three types. The direction of an organization is decided upon strategically. Decisions regarding how something will be accomplished are considered tactical. Lastly, operational decisions are choices that staff members make every day to manage the company.

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ntex Ltd. issued 10,000, 10% Debentures of Rs.100 each at a premium of

10%, full amount being payable along with application. Applications were

received for the debentures issued and allotment was made. Pass the journal

entries.

Answers

Answer:

1. When the application money is reieved, Debit Bank for Rs.1,100,000; and Credit Debentures Application and Allotment a/c for Rs.1,100,000,

2. To transfer of application money along with premium on debentures allotted to the debentures account, Debit Debentures Application and Allotment a/c for Rs.1,100,000; Debit Debenture a/c for Rs.1,000,000; and Credit Security Premium Reserve a/c for Rs.100,000.

Explanation:

Since allotment were made, it implies the accounts for application and allotment can be combined. Therefore, the journal entries will look as follows:

Accounts Title Dr (Rs.) Cr (Rs.)

Bank (w.1) 1,100,000

Debentures Application and Allotment a/c 1,100,000

(To record the amount received from debenture application with the premium)

Debentures Application and Allotment a/c 1,100,000

Debenture a/c (w.2) 1,000,000

Security Premium Reserve a/c (w.3) 100,000

(To record the transfer of application money along with premium on debentures allotted to the debentures account)

Working:

w.1: Bank = (Units of debentures * Unit price) * (1 + Premium rate) = (10,000 * Rs.100) * (1 + 10%) = Rs. 1,100,000

w.2. Debenture = Units of debentures * Unit price = 10,000 * Rs.100 = Rs.1,000,000

w.3 Security Premium Reserve = Debenture * Premium rate = Rs.1,000,000 * 10% = Rs.100,000

muy bueno bakery sells three different products. currently, it is not able to meet all of its customer demand. using the following information, what price of the cake is needed to meet the same contribution margin as the cookies? cake pie cookies unit contribution margin $18 $11 $3 production bottleneck hours 2 1.5 0.25 variable cost $12 $7 $1 unit contribution margin per bottleneck hour $9 $7.33 $12 current selling price $30 $18 $5 a.$42 b.$36 c.$30 d.$45

Answers

The cake will have to sell for $30.857 Contribution is sales value less variable cost

The contribution margin(CMR) is the percentage of the selling price that is earned as a contribution.

CMR for Pie = 11/18× 100 = 61.%

Let the price of Cake be y

contribution per unit = y -12

0.611111111 = y -12/y

0.6111 y = y-12

12 = y -0.6111 y

12 = 0.388 y

y = 12/0.3888

y=$30.857

The cake will have to sell for $30.857

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Hilltop grading, an american construction firm, recently acquired another company, earth builders, in indonesia. the high-level managers at earth builders eventually quit because they could not cope with the domineering and straightforward approach of their american counterparts. this illustrates how acquisitions may fail because

Answers

Of culture clashes between the two companies

EA19. 5.5 Prepare the journal entry to record the sale of 2,000 units that cost $8 per unit and sold for $15per unit.

Answers

Answer:

hyrufyigkjbhvtdu

Explanation:

fxhdrye75rgikjbhvtdu5ertyhinjbhvcutdbcgjtdlu5et

Accounts receivable arising from sales to customers amounted to $120,000 and $105,000 at the beginning and end of the year, respectively. Net income reported on the income statement for the year was $457,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is

Answers

Answer:

Cash flow from operating activities $472,000

Explanation:

The computation of the cash flows from operating activities to be reported on the statement of cash flows is given below:

Beginning account receivable $120,000

Add: net income $457,000

less: ending account receivable -$105,000

Cash flow from operating activities $472,000

Movie tickets and film streaming services are substitutes. If the price of film streaming increases, what happens in the market for movie tickets?.

Answers

Answer:

Since no one would be buying the movie tickets then the market would go down and probably crash. hope this helps!

A new school building was recently built in the area. The entire cost of the project was $20,000,000. The city has put the project on a 20-year loan with an APR of 2.7%. There are 21,000 families that will be responsible for making monthly payments towards the loan. Determine the total amount that each family should be required to pay each year to cover the cost of the new school building. Round your answer to the nearest cent, if necessary.

Answers

Each family should be required to pay approximately $25.71 per year to cover the cost of the new school building.

To determine the total amount that each family should be required to pay each year to cover the cost of the new school building, we can follow these steps:

Calculate the total loan amount.

The loan amount is the cost of the project, which is $20,000,000.

Calculate the annual interest payment.

The annual interest payment can be calculated using the formula:

Annual Interest Payment = Loan Amount * Annual Interest Rate

Annual Interest Rate = APR / 100

In this case, the annual interest rate is 2.7% or 0.027.

Annual Interest Payment = $20,000,000 * 0.027 = $540,000

Determine the number of families responsible for payments.

There are 21,000 families responsible for making monthly payments.

Calculate the total amount each family should pay each year.

Total Amount per Family = Annual Interest Payment / Number of Families

Total Amount per Family = $540,000 / 21,000

Rounding the result to the nearest cent, each family should be required to pay approximately $25.71 per year to cover the cost of the new school building.

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A writer, an illustrator, a publisher and an agent would form a
a. Functional team
b. Cross-functional team
C. Management team
d. Corporate team

Answers

Answer:

B. Cross-functional team

Explanation:

A writer, an illustrator, a publisher, and an agent would form a Cross-functional team. The correct option is B.

What are cross-functional skills?

A Cross-Functional Candidate, according to Glassdoor, is a candidate with jack-of-all-trades abilities. In other words, a candidate with cross-functional skills is someone who is proficient in one or more related technologies or skills while also being knowledgeable in other technologies or skills.

Working cross-functionally, also referred to as working with teams other than your own, will inevitably occur at some point in your career. And doing it well can inspire innovative ideas, enhance your ability to interact with others, and improve your workplace's culture, productivity, and happiness.

Thus, the ideal selection is option B.

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The accompanying chart shows the qualitative characteristics of useful accounting information. Fill in the blanks. Fundamental Qualities Usefulness Enhancing Qualities Relevance Consistency select an aspect of relevance select an enhancing quality select an aspect of relevance select an enhancing quality select an aspect of relevance select an enhancing quality Understandability Faithful Representation select an aspect of faithful representation Neutral select an aspect of faithful representation

Answers

Answer:

Follows are the solution to this question:

Explanation:

please find the attached file.

In point a the answer is "predictive value", Its sensitivity and precision of the results as well as diseases pervasiveness throughout the populace being tested involve determining predictive power.

In point b, the answer is "confirmatory value" which allows users to check and verify previously estimated or assessments.

In point c, the answer is "materiality" is the importance of certain facts to a sensible user throughout the decision-making and also how their incorporation in the financial reports will impact the assessment of past, portray, and upcoming things.

In point d, the answer is complete.

In point e, the answer is free of error.

In point f, the answer is "comparability " its quality of financial reports, which involves comparing yet another company's financial reporting with yet another firm's earnings reporting.

In point g, the answer is "verifiability " must be verified by the same information and hypotheses.

In point h, the answer is "timeliness "it is a prompt method that is how quickly taking account data for users is accessible.

The accompanying chart shows the qualitative characteristics of useful accounting information. Fill in

What impacts did the decentralization of the u.s. banking system during the free banking era have on the currency in the united states? select the two correct answers.

the purchasing power currencies issued by state banks varied wildly from state to state.

monetary reserves decreased.

the money supply declined.

the amount of loanable funds increased.

land was frequently purchased with counterfeit currency.

Answers

The impacts of the decentralization during the free banking era are :

( A ) The purchasing power currencies issued by state banks varied wildly from state to state.( C ) The money supply declined

Impacts of free banking era

During the free banking era the banks did not survive for long as necessary as they were unable to redeem their notes as the purchasing power of currencies varies from state to state.

Hence we can conclude that the impacts of the decentralization during the free banking era are as listed above.

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Successful retailers of the future must adopt which type of buying experience that is both seamless and integrates multiple types of media?.

Answers

Future successful merchants must embrace social shopping retailing for a seamless and multi-media integrated shopping experience.

What is social shopping marketing?Social commerce is a method of marketing and selling products and services using social media platforms. With this type of selling technique, customers may make purchases without ever leaving social media platforms. Social commerce allows customers to discover new brands.Social commerce makes it simpler to measure and assess business insights. These channels all have pre-built metrics for impressions, interaction, and reach, so you can regularly assess them. You can deliver the relevant material to each group by appropriately segmenting your audiences.

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4) how might food network marketers use social media to speed the adoption rate of a new television show?

Answers

Social media provides a great platform for marketers to connect to the the public of all categories that would in turn speed the adoption rate of a new television show.

What benefits do social networking sites provide?

Billions of people use social media to communicate and exchange information. You have the freedom to engage with loved ones, discover new information, pursue new interests, and be entertained thanks to social media.

What outcomes does social media produce?

However, children's use of social media can also be harmful to them since it can divert their attention, keep them from sleeping, and expose them to peer pressure, rumors, bullying, and unrealistic expectations of other people's life.

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Regina, a 25-year-old professional, wants to start an investment portfolio. What strategy may her financial advisor suggest? Start a low-risk portfolio, then shift to bonds.
Invest only in national companies.
Buy 100% international stocks.

Answers

The strategy may her financial advisor suggest would be: Choose a high-risk portfolio now and change it, if needed, in the future. Therefore, the correct option is D.

Given that Regina is 25 years old, she has a longer investment horizon and can afford to take on more risk in her portfolio. A high-risk portfolio typically includes a higher allocation to stocks or equity-based investments, which have the potential for greater returns over the long run. As she has more time to ride out market fluctuations and benefit from compounding, a higher-risk approach may be suitable for her current stage in life.

Thus, the ideal selection is option D.

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The complete question might be:

Regina, a 25-year-old professional, wants to start an investment portfolio. What strategy may her financial advisor suggest?

A Start a low-risk portfolio, then shift to bonds.

B Invest only in national companies.

C Buy 100% international stocks.

D Choose a high-risk portfolio now and change it, if needed, in the future.

During a severe and persistent recession, Keynesians would most likely propose
A) tax increases.
B) a tight money policy.
C) annually balanced federal budgets.
D) macroeconomic stabilization.

Answers

During a severe and persistent recession, Keynesians would most likely propose macroeconomic stabilization. This involves the use of government intervention to stabilize the economy by increasing government spending, reducing taxes, and adjusting interest rates

This is based on the Keynesian belief that during a recession, demand falls, leading to a decrease in economic activity, which ultimately results in higher unemployment rates.

To combat this, macroeconomic stabilization policies aim to boost demand, which in turn, will stimulate economic activity and help to reduce unemployment rates. Overall, the goal of macroeconomic stabilization is to stabilize the economy and promote growth, even during difficult economic times.

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jenny leplaz is looking to invest in a five-year bond with a face value of $1,000 that pays annual coupons of 6.25 percent and currently sells at $904. what is the current market yield on such bonds? group of answer choices 8.60% 8.80% 8.50% 8.70%

Answers

The current market yield of Jenny Leplaz on such bonds is approximately 8.58%, which is closest to 8.60%. Hence, correct answer is 80.6%

To find the current market yield on a five-year bond with a face value of $1,000, paying annual coupons of 6.25%, and currently selling at $904, we'll use the following steps:

1. Determine the annual coupon payment: 6.25% of $1,000 (face value) = 0.0625 * 1000 = $62.50.

2. Calculate the average annual cash flow received from the bond: (Face value - Purchase price) / Years to maturity + Annual coupon payment = ($1,000 - $904) / 5 + $62.50 = ($96 / 5) + $62.50 = $19.20 + $62.50 = $81.70.

3. Divide the average annual cash flow by the average of the face value and purchase price: $81.70 / (($1,000 + $904) / 2) = $81.70 / ($1,904 / 2) = $81.70 / $952 = 0.0858.

4. Multiply by 100 to get the percentage: 0.0858 * 100 = 8.58%.

The current market yield on such bonds is approximately 8.58%, which is closest to 8.60% among the provided answer choices. Therefore, the correct answer is 8.60%.

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From an internal control standpoint, the asset most susceptible to improper diversion and use is:.

Answers

From an internal control standpoint, the asset most susceptible to improper diversion and use is Cash.

What is cash?

Cash is the most liquid asset because it can easily be used in exchange unlike other assets.

Cash is classified under the Current Assets section of the balance sheet but is always presented first before debtors, inventory, and short-term investments.

Thus, from an internal control standpoint, the asset most susceptible to improper diversion and use is Cash.

What would be the effect if the UDHR and its 30 human rights were broadly known and
enforced?

this is economics/international affairs btw

Answers

The effects of enforcing the UDHR and its 30 human rights include:

Reduced repressions and oppressionsEnjoyment of human rightsElimination of injustices.

What is the UDHR?

The UDHR stands for the Universal Declaration of Human Rights.

The UDHR rights include:

Civil and political rights (the right to life, liberty, free speech, and privacy)Economic, social, and cultural rights (social security, health, and education).Religious freedom (freedom of conscience).

The UDHR confers universal jurisdiction on countries to try violators of universal human rights.

Thus, with UDHR, individuals have regained human dignity and the right to humane and fair trials.

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What does the law of increasing cost explain

Answers

The law of increasing costs holds that when production increases so do costs and its happens when all the factors of production are at maximum output.

What does the law of increasing cost means in economics?

The law of increasing cost is an economic principle stating that when a supplier increases the production of a good, the opportunity cost of producing additional goods increases as well. The term "opportunity cost" refers to the opportunities and benefits that suppliers forego when they select one option over another and devote their resources to that option.

In other words, opportunity cost subtracts the cost of the chosen outcome from the cost of the alternative outcome. As the opportunity cost of producing a product rises, the manufacturing process becomes less efficient.

Answers

Assuming i am the President of U.S. and the country needs a financial assistance to get back on their feet. The most likely fiscal Policies we would initiate are the:

contractionary fiscal policyexpansionary fiscal policy

What do we call a Fiscal policy?

In economics, a fiscal policy refers to a governmental decision to increase or decrease taxation and spending. Most time, a Fiscal and monetary policy are often used together to influence the economy. But the fiscal policy can affect a company’s growth, hiring ability and taxes.

We have 3 types of fiscal policy which includes a neutral, expansionary, and contractionary fiscal policy. The neutral policy is one where government takes no steps to provide economic support because it feels the economy is healthy and stable, the expansionary fiscal policy mainly involves increasing spending or cutting taxes to prevent or end a recession or depression and the contractionary fiscal policy involves cutting spending or raising taxes to slow down unsustainable economic growth.