Difference between a periodic-perpetual inventory system

Assignment Help Microeconomics

Reference no: EM133441226

Assignment:

1) A restaurant orders nonperishables every week. The restaurant uses 8 lb of cous cous each week, and management wants a safety net of 4 lb of cous cous in inventory at the end of each order period. If there are 3 lb of cous cous on hand currently, how much cous cous should be purchased for the next week (periodic inventory system)?

a.15 lb

b.12 lb

c.9 lb

d.8 lb

2) What is the difference between a periodic and a perpetual inventory system?

a.Periodic keeps a constantly current inventory, while perpetual counts inventory at regular intervals.

b.Periodic counts inventory at regular intervals, while perpetual keeps inventory at regular intervals.

c.Periodic keeps a constantly current inventory, while perpetual keeps a constantly current inventory.

d.Periodic counts inventory at regular intervals, while perpetual keeps a constantly current inventory.

3) A restaurant forecasts that it will need to serve 70 three-ounce portions of trimmed green beans tomorrow and the next day (the next order period). If the yield percent for green beans is 91% and there are currently 2.5 lb of untrimmed green beans in inventory (with all of today's needs already pulled), how many pounds of green beans must this restaurant order? (Round up to the nearest pound as the only safety net.)

a.14 lb

b.10 lb

c.15 lb

d.12 lb

4) A bistro needs 15 lb of EP watermelon for tomorrow's service. If the yield percent for watermelon is 68%, how many pounds of watermelon must the restaurant order (assuming none currently in inventory)? (Round up to the nearest pound as a safety net.)

a.11 lb

b.20 lb

c.30 lb

d.23 lb

5) As part of the receiving process, receiving clerks must check that product quality matches chef's standards; product quantity matches invoice; price and quantity on invoice match purchaser's order and bid sheets.

True

False

6) A steakhouse forecasts 250 customers for the next order period. Typically, 22% of the guests order the filet mignon. The chef prepares the filet from whole tenderloins and gets a 73% yield. If each guest is served a 6 oz filet, and the chef expects to have 4 lb of his current inventory of whole tenderloin left on hand when the order arrives, how many pounds of tenderloin should the chef order? (Round up to the nearest pound as a safety net.)

a.25 lb

b.18 lb

c.17 lb

d.21 lb

7) It takes a baker earning $9/hour 1 hour to make 100 chocolate chip cookies. The recipe costs $9.25 and uses $1.50 in energy costs. The purchaser can order premade cookie dough at a cost of $29.50; the premade tub yields 250 cookies. The premade version uses only $1.00 in energy costs, but the baker needs 1 ¼ hours to make all 250 cookies. What is the cost per cookie for the scratch version and for the premade version?

a.scratch $0.1975/cookie; pre-made $0.167/cookie

b.scratch $0.1975/cookie; pre-made $0.4175 /cookie

c.scratch $0.167/cookie; pre-made $0.1975/cookie

d..scratch $0.079/cookie; pre-made $0.167/cookie

8) The following are resources needed for a proper receiving area:

a.thermometer, knife, ruler, hand truck, dollies, cleaning supplies, pens, paper, clipboards, calculators

b.well-trained employee, space to receive food, scales

c.purchaser's order sheets, bid sheets, product specifications

d.all of these things are needed for a proper receiving area

9) A cafe uses the perpetual inventory system. Long-grain white rice has a par stock of 150 lb and daily usage of 15 lb. Management wants a safety net of 40 lb of rice in inventory on each delivery date, and it usually takes 3 days for the delivery to arrive once the order is placed. What is the reorder point and the reorder quantity?

a.reorder point is 65 lb, reorder quantity is 85 lb

b.reorder point is 40 lb, reorder quantity is 85 lb

c.reorder point is 85 lb, reorder quantity is 110 lb

d.reorder point is 110 lb, reorder quantity is 85 lb

Reference no: EM133441226

Questions Cloud

Identify a local digital campaign : Identify a local digital campaign that has failed to maximize different marketing platforms and what you think they can improve on.

What pharmaceutical products it will launch with price : Allstar marketing plan from years 10 to 20 and what pharmaceutical products it will launch with price details etc?.

Discuss the four strategic roles of physical evidence : discuss the four strategic roles of physical evidence. describe the impact of music on customer and employee behavior. At least a half of page

Write about the independent music industry : write about the (Independent Music Industry) competitiveness of the industry and a COVID-19 (Coronavirus) Impact. Complete this section with an overview

Difference between a periodic-perpetual inventory system : What is the difference between a periodic and a perpetual inventory system?

Is good will economic gain : Is good will economic gain? The FAA thinks so. Do you agree or disagree? Goodwill is a form of prohibited compensation.

Identify data available to the organization : Identify data available to the organization. Consider both structured and unstructured data. Identify information available to the organization.

Explain the benefits and costs of such a model : explain the benefits and costs of such a model (do not write about your opinion of good or bad customer service, explain how this improves or does not improve

Define consumer trends. briefly explain eight important : Define consumer trends. Briefly explain eight important trends of consumer trends. Give examples to support each of your answer.

User Account

All Pages