Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Test, once again, this deterministic model for the situation where quantity demanded is more than quantity ordered. What is the profit that you would realize
Test, once again, this deterministic model for the situation where quantity demanded is more than quantity ordered. What is the profit that you would realize for a Order Quantity of 552.0 and a Quantity Demanded of 694.0?
Annual Calendar Sales | |||
Cost per Calendar | $ 5.95 | ||
Retail Price per Calendar | $ 14.95 | ||
Refund per Calendar | $ 1.95 | ||
Order Quantity | 680 | ||
Quantity Demanded | 600 | ||
Leftovers | 80 | '=IF(Order Quantity> Quantity Demanded,Order Quantity - Quantity Demanded,0) | |
Revenue | |||
Sales | $ 8,970.00 | '=MIN(Order Quantity, Quantity Demanded)*Retail Price per Unit | |
Refund | $ 156.00 | '=Leftovers * Refund per Calendar | |
Total Revenue | $ 9,126.00 | '= Sales + Refund | |
Total Cost | $ 4,046.00 | '=Order Quantity * Cost per Calendar | |
Profit | $ 5,080.00 | '= Total Revenue - Total Cost |
Your Answer:
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started