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Bell Computers purchases integrated chips at $350 per chip. The holding cost is $35 per unit per year, the ordering cost is $120 per order, and sales are steady, at 400 per month. The company’s supplier, Rich Blue Chip Manufacturing, Inc., decides to offer price concessions in order to attract larger orders. The price structure is shown below.

a) What is the optimal order quantity and the minimum annual cost for Bell Computers to order, purchase, and hold these integrated chips?

b) Bell Computers wishes to use a 10% holding cost rather than the fixed $35 holding cost in (a). What is the optimal order quantity, and what is the optimal annual cost?

 
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Joe Henry’s machine shop uses 2,500 brackets during the course of a year. These brackets are purchased from a supplier 90 miles away. The following information is known about the brackets:

a) Given the above information, what would be the economic order quantity (EOQ)?

b) Given the EOQ, what would be the average inventory? What would be the annual inventory holding cost?

c) Given the EOQ, how many orders would be made eachyear? What would be the annual order cost?

d) Given the EOQ, what is the total annual cost of managing the inventory?

e) What is the time between orders?

f) What is the reorder point (ROP)?

 
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University of Florida football programs are printed 1 week prior to each home game. Attendance averages 90,000 screaming and loyal Gators fans, of whom two-thirds usually buy the program, following a normal distribution, for $4 each. Unsold programs are sent to a recycling center that pays only 10 cents per program. The standard deviation is 5,000 programs, and the cost to print each program is $1.

a) What is the cost of underestimating demand for each program?

b) What is the overage cost per program?

c) How many programs should be ordered per game?

d) What is the stockout risk for this order size?

 
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1. Processes, formulas, methods, procedures, and lists are all examples of __________.

  • trademarks

  • service marks

  • trade secrets

  • copyrighted materials

2. Nearly two-thirds of the states have enacted criminal codes based on the Uniform Criminal Code (UCC).

True or False

3. The Coca-Cola Company’s soft drink syrup recipe is an example of a __________.

  • patent

  • trade secret

  • trademark

  • copyright

4. In terms of intellectual capital, __________ knowledge is highly individualized knowledge that is hard to replicated or even explain.

  • explicit

  • tacit

  • tangential

  • savant

5. A warrant may be issued based on __________.

  • a preponderance of the evidence

  • proof beyond reasonable doubt

  • probable cause

  • proof beyond a shadow of a doubt

6. A Ponzi scheme is a fraudulent investment operation that pays returns to investors from their own money or money paid by subsequent investors rather than from any actual profit earned.

True or False

7. In a civil case, the plaintiff must prove __________ that the defendant committed a civil wrong.

  • by a preponderance of the evidence

  • beyond a shadow of a doubt

  • beyond reasonable doubt

  • by the substantial weight of the evidence

8. Suppose that Al Kaypon (Al) sets up a scheme to fool investors into thinking that he has invented a new product that will generate millions of dollars in sales. He designs a brochure and mails it to several individuals. At this point in the scheme, what crime (if any) has Al committed? rev: 08_25_2020_QC_CS-223792

  • Conspiracy to commit fraud

  • Mail fraud

  • Embezzlement

  • No crime, since none of the individuals contacted have responded to the brochure

9. “Look-and-feel” trademark features are called __________.

  • public domain characteristics

  • generic traits

  • trade dress

  • secondary trademarks

10. Agency rules that have the legal effect and impact of the rights of parties are known as __________.

  • codified statutes

  • legislative rules

  • persuasive authority

  • executive rules

 
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