Suppose the weekly demand for an item is 3,000 units. It costs 13.7% of the value of the item to hold one for a year. Our supplier delivers pallets of 100 units to us, each one costing $2,000. They are capable of delivering 8 pallets per day. The cost of a delivery (ordering, contracting, physical delivery and receipt) is $350 per order. The business operates all 365 days of the year. A student solves this problem as follows:
EOQ = (2*3,000*2000/(0.137*350))0.5 = 500 units per day (rounded to the nearest whole number)
What mistakes did the student make? Explain.

For each of the following users of financial accounting information and managerial accounting information, specify whether the user would primarily use financial accounting information or managerial accounting information or both: 1. sec examiner 2. bookkeeping department 3. division controller 4. external auditor (public accounting firm) 5. loan officer at the company's bank 6. state tax agency auditor 7. board of directors 8. manager of the service department 9. wall street analyst 10. internal auditor 11. potential investors 12, current stockholders 13. reporter from the wall street journal 14. regional division managers

In a chapter 7 bankruptcy, a debtor:

> > objectives define federalism and explain why the framers adopted a federal system instead of a unitary system. categorize powers delegated to and denied to the national government, and powers reserved for and denied to the states, and the difference between exclusive and concurrent powers.