The company’s marketing manager estimates that there is a 60% chance that demand will rise faster than the current rate, a 30% chance that it will continue to rise at the current rate and a 10% chance that it will increase at a slower rate or fall. Assuming that the company’s objective is to maximize expected net present value, determine (a)The course of action which it should take (b)The expected value of perfect information.
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The company’s marketing manager estimates that there is a 60% chance that demand will rise faster than the current rate, a 30% chance that it will continue to rise at the current rate and a 10% chance that it will increase at a slower rate or fall. Assuming that the company’s objective is to maximize expected
(a)The course of action which it should take
(b)The expected value of perfect information.
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- Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. Is Ben Gibson acting legally? Is he acting ethically? Why or why not?Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. As the Marketing Manager for Southeastern Corrugated, what would you do upon receiving the request for quotation from Coastal Products?Two items are omitted from each of the following three lists of cost of goods sold data from a manufacturing company income statement. Determine the amounts of the missing items, identifying them by letter. Finished goods Inventory,June1 $61,600 $46,200 (e) Cost of goods manufactured 329,000 (c ) 484,800 Cost of finished goods available for sales (a) $260,400 $540,000 Finished goods Inventory ,June30 72,800 61,600 (f) Cost of goods sold (b) (d) $513,600
- North Pole Toys needs to decide on their newest product line for Christmas. They narrowed their options to two possibilities: Product A would incur a fixed cost of $3,000 and a variable cost of $6 per unit and sells for $7.50; Product B would incur a fixed cost of $1,200 and a variable cost of $9 per unit and sells for $10. __________4a. What is the breakeven point for each of the two products? __________4b. What is the point of indifference between the two products?Muñoz Corporation's decision to produce a new line of recreational products resulted in the need to construct either a small plant or a large plant. The best selection of plant size depends on how the marketplace reacts to the new product line. To conduct an analysis, marketing management has decided to view the possible long-run demand as low, medium, or high. The following payoff table shows the projected profit in millions of dollars. Long-Run Demand Plant Size Low Medium High Small 250 300 300 Large 150 300 600 (a) What is the decision to be made, and what is the chance event for Muñoz problem? The decision is to choose the best plant size . There are 2 alternatives. The chance event is the market demand for the new product line There are 3 possible outcomes. (b) Construct an influence diagram. (Submit a file with a maximum size of 1 MB.) Choose File No file chosen This answer has not been graded yet. (c) Construct a decision tree. (Submit a file with a maximum size of 1 MB.)…Leisure Corporation’s decision to produce a new line of recreational products resulted in the need to construct either a small plant or a large plant. The best plant size depends on how the marketplace reacts to the new product line. To conduct an analysis, marketing management has decided to view the possible long-run demand as low, medium, or high. The following payoff table shows the projected profit in millions of dollars: Profits Long-Run Demand Low Medium High Small Plant 150 200 200 Large Plant 50 200 500 If Leisure Corporation has an extremely pessimistic outlook on demand, would it build a small or a large plant? If Leisure Corporation wanted to minimize the maximum opportunity losses (regrets), would it build a small or a large plant?
- 3) A company needs to decide whether to introduce a recent developed product (codename DEV) to the mass market. It is estimated that test marketing will cost $100K. Data indicates that only 30% of this company's product capture consumers' attention. Only when this product DEV is successful at the test market stage, then the company needs to consider the size of plant to set up to produce DEV in large quantity. A small factory is expected to cost around $150K to build, while a large factory costs around $250K. Productivity for small factory is 2000 units per year, while a large factory produces 4000 units a year. This company might also give up this project and receives $0 back. Given our new product in the market, there is a 40% chance that the competitor will respond with a similar product and that the price per unit sold (in $) will be as follows (assuming all production sold): Small plant Large plant 20 Competition respond Competition do not respond 35 50 65 Assuming that the life…a) For an upcoming red carpet evening, a company is selling tickets at $60 per person at a large theatre which has a capacity of 10,000 people. Each attendant is expected to buy $12 of food and merchandise at the film evening. The cost of providing the food and merchandise is estimated to be $5 per person. All other ancillary services will be provided by the theatre. Initial analysis indicates that the ancillary cost of providing food and merchandise, as well as the staff needed to handle ticket sales, may be described as a semi-variable cost. Data on these costs and tickets sold from three similar events held at the venue have been collected and are tabulated below: Tickets Sold Cost ($) 2100 6640 3824 11284 4650 13525 Use the high-low method to estimate the total cost function relating to these ancillary costs. b) The company will be renting the theatre which will host the upcoming red carpet evening. The budgeted fixed cost of both renting the theatre and paying the…4.1REQUIREDStudy the information given below and calculate the following if the sales manager’s proposal is accepted:4.1.1 Break-even quantity.4.1.2 The number of units that must be sold to achieve the company’s profit objective. INFORMATIONSirloin Enterprises manufactures a product that sells for R9 each. The company presently produces and sells 90 000 units per year. Total variable manufacturing costs and selling costs are R405 000 and R81 000 (10% of sales) respectively. Fixed costs are R226 440 for manufacturing overheads and R97 200 for selling and administrative activities.The sales manager has proposed that the price be increased to R10.80 per unit. The company’s profit objective is 10% of sales. 4.2 ENO Ltd, a pharmaceutical company, is seeking finance for the development of a vaccine aimed at reducing the spread the Corona virus. The company is seeking funding only from the public in the form of equity as well as long-term borrowing.In light of the above, critically discuss…
- Papaya Partners is a distributor of papayas. They purchase papayas from individual growers and package them in 10-pound cartons for delivery to their various customers, generally supermarkets. Last month, they budgeted to sell $500,000 worth of cartons at a price of $25 each. Actual sales met a budget of $500,000 at $25 per carton. The management has received cost information based on actual performance and needs to understand the drivers of the overall variance from the budget. They have asked you, as an analyst in their management accounting department, to calculate and explain the variances. The following data has been provided: Budget Cost of fruit @ 10 pounds per carton $ 200,000 Cost of packaging @ 1 pound per carton $ 10,000 Labor costs @ .5 hourse per carton $ 90,000 Total Cost $ 300,000 Actual Cost of fruit @ 10 pounds per carton $ 244,200 Cost of packaging @ .55 pound percarton$ 11,000 Labor costs @ .75 hourse per carton $ 150,000 Total Cost $405,200 WHAT IS THE STANDARD COST…(b) Solve the linear program developed in part (a), to determine the optimal production plan. If the amount is zero, enter "0". Qty Produced Phillipines Mexico PT-100 PT-200 PT-300 Total Cost = __________$ (c) Use sensitivity analysis to determine how much the production and/or shipping cost per unit would have to change to produce additional units of the PT-100 in the Philippines plant. If required, round your answer to two decimal digits. At least $ _________/ unit. (d) Use sensitivity analysis to determine how much the production and/or shipping cost per unit would have to change to produce additional units of the PT-200 in the Mexico plant. If required, round your answer to two decimal digits. At least $ _______/ unit.TRADEKINGS is a soft drink manufacturer in Zambia. Although it has a commanding share of the soft drink market in Zambia, it is facing increasing competition from a soft drink known as Atia from Kenya and the Coca-Cola line of soft drinks. Required: Use a Product Portfolio (SWOT) Analysis to: Identify the opportunity OR threat to the Identify the company’s strength OR weakness of the company Recommend an appropriate strategy