Classify the items according to an abc classification system

Assignment Help Econometrics
Reference no: EM13239154

Pure Plastics Inc. manufacture molded plastic pieces. A sample of their raw material inventory is shown in the table below:

Item Average Inventory (units) Value ($/unit)
128 400 3.75
234 300 4.00
233 120 2.50
236 75 1.50
239 60 1.75
240 30 2.00
678 20 1.15
784 12 2.05
821 8 1.80
831 7 2.00
911 6 3.00

A) How would the plant classify these items according to an ABC classification system?
B) How can Pure Plastics use this information?

Reference no: EM13239154

Questions Cloud

Determine the profit maximizing price in each market : The price elasticity of demand for a textbook sold in the United States is estimated to be -2.0, whereas the price elasticity of demand for books sold in overseas markets is -3.0. The U.S. market requires hardcover books with a marginal cost
Explain lithium hydroxide which contains of oxygen : What is the total sample size (in grams) for a sample of lithium hydroxide which contains 3.66 g of oxygen
Find the c and y components of the initial velocity vector : A baseball player hits the ball and it lands in the field seat 10 m above the point, find the c and y components of the initial velocity vector of the baseball
Research about yahtzee : Previously you conducted research about Yahtzee. Hopefully you gained valuable information on the game, scoring, and the outcomes. Now, let's work on creating our dice and our number generator.
Classify the items according to an abc classification system : Pure Plastics Inc. manufacture molded plastic pieces. A sample of their raw material inventory is shown in the table below. How would the plant classify these items according to an ABC classification system.
Explain the values of h and s are independent of temperature : Use a table of standard thermodynamic values to predict the standard cell potential at 81 C: Cu(s)|CuSO4||AgNO3|Ag(s) Assume that the values of ?H and ?S are independent of temperature.
Calculate the temperature and pressure of the helium gas : A sealed container of volume 0.10 m^3 holds a sample of 3.0 x 10^24 atoms of helium gas in equilibrium, Calculate the temperature and pressure of the helium gas
Data governance improvements : Data Governance Improvements
How useful is the demand equation for forecasting demand : The cup is placed over the pill and as the cup is pressed down, the pill is split into pieces which are contained inside the cup. Because the cup is above the pill, persons can see how the pill is cut and keep the pieces contained.

Reviews

Write a Review

Econometrics Questions & Answers

  Determine a threshold for annual demand

Flanger is an industrial distributor that source from hundreds of supplier .The two modes of transportation available for inbound shipping are LTL (less-than-truckload) and TL (truck-load).LTL shipping cost $1 per unit, whereas TL shipping cost $4..

  Calculate the total change in money supply

One alternative way (from the formula on p. 419) to calculate the total change in money supply when the Fed injects money into the economy or takes away money from the economy is the amount of money injected or taken away by the Fed times the mone..

  What price will the profit-maximizing monopolist charge

A monopolist has the following short-run total cost function and demand function Total Cost: TC = 32 + 2Q + 1/2Q^2 Marginal Cost: MC = 2 + Q Demand: Q = 52-2P where P is the price per unit of output, and Q is the quantity of output.

  What is the marginal cost of the last unit

The daily wage (per worker) is $70, and the price of the firm's output is $32. The cost of other variable inputs is $2,000 per day. You are told that the firm's fixed cost is "high enough" so that the firm's total costs exceed its total revenue.

  Should lee sell business nd go to work for chemistry company

If Mr. Lee decides to take the job, he knows that he can sell the store for $350,000 because of the goodwill built with a steady clientele of neighborhood customers and the excellent location of the building. He would still hold on to the building..

  Calculate the marginal physical product and marginal revenue

Suppose that there is an increase in the demand for personal computer systems. Explain the likely effects on marginal revenue product, marginal factor cost, and the number of workers hired by the firm.

  What is the owenership cost of the vehicle

Susan is considering buying a 2011 Smart ForTwo costing $21,635 and finds that the retaining values of the vehicle over next five years are as follows: Percent of the total value retained after 36 months: 28% Percent of the total value retained aft..

  Explain production schedule for boxes of apples

Suppose that the price of apples falls to $12 per box, but the wage rate remains at $200. Now, live happley should hire? (1,2,3,4,5 workers) Assuming that all the apple-producing firms have a similar production schedule, a decrease in the price o..

  What is the future worth of the cost of the machinery

A company is going to upgrade it machinery. It costs $150,000 to buy the machinery and have it installed. Operation and maintenance cost are $1500 per year for the first 3 years and then increase by $500 per year for the machine's 10-year salvage ..

  Which includes new wage rate and mandated overtime premium

Assuming that this 50 percent overtime-pay premium is newly required for all work beyond eight hours per day, draw a budget constraint that pictures a strategy of cutting hourly pay so that, at the original hours of work.

  What is estimated number of cans of tennis balls demanded

Dependent Variable: Q R-Square F-Ratio P-Value on F Observations: 20 0.8435 28.75 0.001 Parameter Standard Variable Estimate Error T-Ratio P-Value Intercept 425120.0 220300.0 1.93 0.0716 P -37260.6 12587 -22.96 0.0093 M 1.49 0.3651 4.08 0.0009 PR ..

  How the bargaining rounds of alternating offers

S makes the first offer, with 4 bargaining rounds of alternating offers, and with S discounting 2% between each bargaining round. Compare bargaining outcomes when B discounts 10% between each bargaining round with B discounting only 1% between eac..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd