What is the implied cost of shortage per quart

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Reference no: EM13230228

1) Classify the following list of items as A, B, or C item.

Item	Estimated Annual Demand	UnitPrice
H4-010	20,000	2.50
H5-201	60,200	4.00
P6-400	9,800	28.50
P6-401	14,500	12.00
P7-100	6,250	9.00
P9-103	7,500	22.00
TS-300	21,000	45.00
TS-400	45,000	40.00
TS-041	800	20.00
V1-001	33,100	4.00

2) A small grocery store sells fresh produce, which it obtains from a local farmer. During the strawberry season, demand for fresh strawberries can be reasonably approximated using normal distribution with a mean of 40 quarts per day and a standard deviation of 6 quarts per day. Excess costs run 35 cents per quart. The grocery orders 49 quarts per day.

a) What is the implied cost of shortage per quart?

Reference no: EM13230228

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