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Jill's Truck Stop sells specialty seat cushions that are designed to keep drivers awake on the road. Her accessories supplier makes deliveries every Tuesday, at which time he can provide her with as many cushions as she needs (he has ample cushions in his truck). Jill has estimated the weekly demand for cushions as normally distributed with mean of 35 and a standard deviation of 10. The cushions cost her $40 wholesale and she sells them for $65. Jill uses a 35% interest rate to evaluate the cost of holding inventory
(a) How many cushions should Jill buy if sales are lost when she runs out of stock during the week? (10%)
(b) How many cushions should she buy if a customer who wants a cushion will still buy it when stock has run out, but Jill will have to pay $5 postage to mail it to the customer? (4%)
(c) How many should she order if she estimates that typically 50% of the sales are lost (as in Part a), and 50% are back ordered (as in Part b)? (4%)
Mark Sexton and Todd Story, the owners of S&S Air, Inc., were impressed by the work Chris had done on financial planning. What are the monthly payments for a 30-year traditional mortgage? What are the payments for a 20-year traditional mortgage? Prep..
The dividend strategy is part of the larger process of trying to keep the shareholders satisfied. A good thing for job security… Clearly, senior managers need to be strategic, but still be aware of the short-term consequences. However, decisions that..
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Marvin’s Interiors issued 9-year bonds 2 years ago. The bonds have a face value of $1,700, a 6.0 percent, semiannual coupon, and a current market price of $1,339. What is the pre-tax cost of debt?
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Your client buys 10 shares of stock at time 0 for $48 per share. What was the client's money-weighted (dollar-weighted) annual return on this position?
What is a joint venture?
Miller Mfg. is analyzing a proposed project. The company expects to sell 11,000 units, give or take 4 percent. The expected variable cost per unit is $7.00 and the expected fixed cost is $35,000. The fixed and variable cost estimates are considered a..
Critics have charged that compensation to top managers in the United States is simply too high and should be cut back. For example, focusing on large corporations, Robert Kotick, CEO of Activision Blizzard, earned about $64.9 million in 2013.
Define what is meant by control environment. Based on the information provided in the case, explain why the control environment is so important to effective internal control over financial reporting at an audit client like the Baptist Foundation of A..
The company requires a profit of 0.21 of selling price. How much is the target cost per unit?
If you deposited the following amount per month (letters in your last name X $80) from your pay check from the time you graduate from school until you retire (at age 75) and your employer contributed an extra 6%, how much wealth would you have accumu..
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