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SENSITIVITY ANALYSIS OF EOQ MODEL
Sensitivity Analysis is regarded with the manner in which those results of solutions change in response to change in model parameters.
It is important to appreciate that in formulating our inventory models, we have really been performing a planning exercise. Thus we have made certain assumptions and estimates (e.g. annual demand D, holding costs H, & ordering costs O) and out solutions have obviously been affected by these. When for example calculating a deterministic EOQ value with maximization of total inventory costs as the objective, expected annual demand (D) is taken into account. If we subsequently find that annual demand has differed from that expected then we will find that the EOQ we selected was not the optimum and, as an outcome, the total inventory cost was not really minimum.
Pantheon Company has prepared the following forecasts of monthly sales: July August September October Sales (in units) 4,300 5,100 3,800 2,500 Pantheon has decided that the num
Service time-probability distribution curve A common example is that service times follow an exponential probability distribution i.e. y=e -x Service channels - t
Explain what is meant by traditional costing system. Support with example.
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Answer each of the following independent questions in the space provided on page 11. Round all computations to the nearest dollar. a) Company A deposited $15,000 in a savings ac
Elements of cost: 1. Material: the substance from which the product is made is known as material it may be in a raw or a manufactured state. It can be direct as well as indir
Describe the Principles of cost accounting Principles of cost accounting: The fundamental principles of costing are identical and are given below: 1. Cost is related to
Manufacturing cost data for Sassafras Company, which uses a job order cost system, are presented below. Indicate the missing amount for each letter. Assume that in all cases manufa
given the above data what would the breakeven in units and dollars be if u wanted a necessary after tax profit of $ 36,000 (assume a 30% tax rate ) units __________ ales dollars _
Explain standard costing according to backer and Jacobsen According to backer and Jacobsen, standard cost is the amount the firm to measure the variation from standard costs th
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