The inventory planners at ABC Electronics have recently become aware that variation in the delivery of a key item from the supplier was causing a shortage problem. It has been decided that safety stock should be added to the order quantity to prevent stock out. After researching the item, the following planning data was detailed: • Average demand per day is 25 units
• Replenishment lead time is 10 days
• Standard deviation of supply lead time is 3 days Standard deviation of demand is 2 units
• Target customer service level is 98 % (hint: 2.0537)

a. What would be the safety stock on this item?
b. What would be the new reorder point?

Inputs
Average Demand/day 25
Lead Time per Day 10
Standard Deviation of Demand (sD)/day 2
Target Customer Service Level 98%
Standard Deviation of Lead Time (sLT)/day 3

What are ways individuals may reduce their total education and training costs?

Price and efficiency variances, journal entries. the schuyler corporation manufactures lamps. it has set up the following standards per finished unit for direct materials and direct manufacturing labor: direct materials: 10 lb. at $4.50 per lb. $45.00 direct manufacturing labor: 0.5 hour at $30 per hour 15.00 the number of finished units budgeted for january 2017 was 10,000; 9,850 units were actually produced. actual results in january 2017 were as follows: direct materials: 98,055 lb. used direct manufacturing labor: 4,900 hours $154,350 assume that there was no beginning inventory of either direct materials or finished units. during the month, materials purchased amounted to 100,000 lb., at a total cost of $465,000. input price variances are isolated upon purchase. input-efficiency variances are isolated at the time of usage. 1. compute the january 2017 price and efficiency variances of direct materials and direct manufacturing labor. 2. prepare journal entries to record the variances in requirement 1. 3. comment on the january 2017 price and efficiency variances of schuyler corporation. 4. why might schuyler calculate direct materials price variances and direct materials efficiency variances with reference to different points in time

Explain the relationship between consumers and producers in economic growth and activity