You recently overheard that your company's competitors have started to purchase their materials from an online marketplace. You identify your company's top three products and collect information about their material usage, their standard costs, and the average costs you find from the sellers on the online marketplace at the end of December 2020. Here are the definitions of the fields. Online Marketplace Material usage data set. Material_ID: a unique identifier for each raw material. Product ID: a unique identifier for each product. Standard_usage: the standard usage of materials for a specific product. Online Marketplace Price data set. Standard_price: the standard purchasing price for one unit of each raw material. Material_ID: a unique identifier for each material. Grade_main: the grade level of the material. (Note: The company only keeps materials with grade level "A.") Quantity on hand: the number of units of the raw material on hand in inventory. Marketplace vendor: vendor for raw materials on the online marketplace. Required Avgtransactionprice: average transaction price per unit for a specific vendor and a specific raw material. Use the Online Marketplace data sets available in Wiley Course Resources to answer the following questions about the online marketplace: a. If the company had purchased all of its materials from the online marketplace, what inventory cost would be shown for all materials on hand based on the average transaction price? Is that value higher or lower than the value of all materials if using their standard price? b. If the company can freely choose the lower of the standard price or the average price in the online marketplace, what is the lowest possible inventory cost of all materials on hand? c. Is there a particular marketplace vendor that always sells at a price lower than the standard price? d. Based on your observations in (a) and (b), can you explain why the competitors are switching to the online marketplace? What would you recommend to your company? B D 0.49 1 3 $ 2.64 2 A A 1 STANDARD_PRICE MATERIAL_ID GRADE_MAIN QUANTITY_ON_HAND MARKETPLACEVENDOR 2 $ AVGTRANSACTIONPRICE 4 $ 2.86 3 A 5 $ 10.91 4 A 6 $ 13.86 5 A 7 $ 3.39 6 A 8 $ 13.03 7 A 9 $ 3.68 8 A 10 $ 2.53 9 A 11 $ 12.35 10 A 12 $ 2.47 11 A 13 $ 4.73 12 A 14 $ 1.28 13 A 15 $ 13.72 14 A 16 $ 6.41 15 A 17 $ 14.73 16 A 18 $ 9.55 17 A 19 $ 12.96 18 A 20 $ 5.07 19 A 21 $ 9.52 20 A 22 $ 8.39 21 A 23 $ 12.55 22 A 24 $ 4.18 23 A 25 $ 14.42 24 A 26 $ 11.01 25 A 27 $ 8.85 26 A 28 $ 11.54 27 A 29 $ 9.72 28 A 30 $ 1.26 29 A 31 $ 9.04 30 A 32 $ 6.93 31 A 33 $ 1.81 32 A 34 $ 0.90 33 A 35 $ 9.85 34 A 36 $ 14.09 35 A 37 $ 6.85 36 A 38 $ 3.43 37 A 39 $ 8.03 38 A 40 $ 5.36 39 A c88 8 25 $ 12.65 23 $ 0.54 9 $ 6.81 33 $ 2.85 15 $ 8.17 32 $ 5.34 8 $ 1.86 4 $ 4.51 7 $ 9.17 20 $ 5.26 10 $ 14.14 34 $ 7.31 29 $ 10.05 32 8 $ 10.35 34 $ 3.16 6 $ 5.92 5 $ 7.17 2 $ 5.81 26 $ 13.34 26 $ 10.18 11 $ 3.90 25 $ 11.24 26 $ 6.81 20 $ 1.70 17 $ 10.31 7 $ 7.80 15 $ 7.87 24 $ 1.29 3 $ 13.53 34 $ 9.64 20 $ 12.62 27 $ 10.26 2 $ 1.46 32 $ 14.39 2 $ 1.14 20 $ 1.34 2 $ 10.15 17 $ 13.18 35 $ 3.26 G H J K L M N P R S T U V W X File Home Insert Page Layout Formulas Data Review View Help 1 PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. 1 fx MATERIAL_ID A B C MATERIAL ID PRODUCT_ID STANDARD_USAGE 1 3 2 1 2 3 1 3 4 1 5 5 1 1 6 1 4 7 1 4 8 1 3 9 1 4 10 1 4 ==== 992222222222222223-2345 11 1 1 12 1 1 13 1 1 14 1 5 15 1 2 16 1 4 17 1 3 18 1 1 1 5 20 1 5 21 1 1 1 1 1 2 1 4 1 1 26 1 4 27 1 3 1 3 1 1 30 1 1 31 1 1 1 3 1 3 1 1 2 5 2 3 2 2 2 2 2 3 Enable Editing Comments Share x D E F G H J K M N P R S T U V W X Y Z AA Specifically, you must address the following rubric criteria: Presentation 1. Explain the key points to communicate to the CFO. Use the data sets linked in the Supporting Materials section to answer questions a, b, and c. Include the following details in your response: A. If the company had purchased all its materials from the online marketplace, describe what inventory cost would be shown for all materials on hand based on the average transaction price. B. Explain if the inventory cost value is higher or lower than the value of all materials if using their standard price. C. If the company can freely choose the lower of the standard price or the average price in the online marketplace, explain what the lowest possible inventory cost of all materials on hand is. D. Identify whether there is a particular marketplace vendor who always sells at a price lower than the standard price cost of all materials on hand. 2. Create effective basic visualizations (line chart or column chart) that support key points. A. Create a basic visualization for Data Set One, linked in the Supporting Materials section. B. Create a basic visualization for Data Set Two, linked in the Supporting Materials section. 3. Present options for the CFO when considering switching to the online marketplace. Answer question d of the textbook problem. Include the following details in your response: A. Explain why the competitors are switching to the online marketplace. B. Provide recommendations and rationale for the best options moving forward for your company. 4. Create slides that are simple, neat, and only contain relevant information for the needs of the stakeholder. 5. Record narration using Bongo with a clearly articulated and well-paced delivery. 6. Capture a screenshot of the automated feedback from Bongo Learn.