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Module 7
Discussion Topic 1
Whether you time a person doing a task along side them or behind a one-way-
mirror, they will perform more efficiently than would be expected if they weren't observed at all. Is this a good statement or not?
I think this is a true statement (assuming they know you are behind a one way mirror), though I’m not sure I would call it a ‘good’ statement. If they don’t know they are being observed, this statement is false. I believe that people work more efficiently and give more effort when they know they are being observed in any sense. Make that person a boss or coach of some sort and I think their effort goes up even more. Most people do not want to fail or look mediocre in front of others, hence the higher efficiency. But I say this is not a good statement because it doesn’t
represent day-to-day scenarios. Very rarely are you being observed regularly and therefore their efforts during observation should not be considered typical or used for expected outcome. Discussion Topic 2
The US Bureau of Labor Statistics has been used by both US and foreign governments in negotiating contracts. Can one manipulate the indexes to the sellers or buyers advantage and how can this be done?
Any weaknesses in using the indexes? Any better ones out there and why? I feel it would be hard to manipulate the actual data in the US Bureau of Labor Statistics. The data is regularly available for anyone to look up and therefore, they’d
find any discrepancies if you were to manipulate information prior to sending. On average, the data is assumed to be 90% accurate and therefore means 90% confidence level in using the data. However, that doesn’t mean one cannot twist the
information to fit their desire. For example, if the data presents a 0.1% increase in wages, one could use that data to increase their team’s labor cost even if they are not truly increasing their pay. Similarly, some statistics are heavily weighted due to increases or decreases in a specific area. If half the country is seeing a rising trend while the other half is remaining steady, the statistics may show a 25% increase across the board. One could use this data to argue in their favor, even if they are part of the population that has remained somewhat steady. In addition to the above examples, not all occupations have data available for every
location. The information is heavily focused on the national level, missing individual data in smaller areas. I feel like state labor departments and local workforce development boards could have more accurate data. US Bureau of Labor Statistics provides great, high level detail while state and local information can provide better insight to a specific areas’ data.
Discussion Topic 3
Acme Machine has furnished you the following labor quote to build a quantity of 100 KISS circuit cards.
Per unit labor costs:
Description
Std. Labor hours (hours)
Quantity
Set-up
.20
1 per assy.
Identify parts
.10
1 per assy.
Position Capacitors & Solder
.10
2
Position Resistors & Solder
.10
3
Position Transistor & Solder
.20
2
Position Transformer &
Solder
.30
1
Attach L-Bracket to Circuit Board
.10
2
Attach Bolt to PCB and Bracket
.10
4
Attach Washer to PCB & Bolt
.10
4
Attach Machine Screw to Transformer
.20
4
Inspection
1.00
1
Packing
.30
1
Shipping to Stores
.50
1
Total Labor Hours
5.10
1
According to Acme, previous production runs for the same quantity of circuit cards ran 2.5 times standard and were fully manual in nature. They intend to incorporate a new flow solder machine on this run. They don’t believe that incorporating this new process will benefit this run as no learning is expected in the first production lot.
Standard Labor Hours
5.10
PFD factor
.25
Over Standard
12.65
Rework
2.0
Total Unit Factored Hours
20.0
Total Quantity Labor Hours
20,000.0
Hourly Labor Rate (at sell)
$100.00
Total Direct Labor Cost
$2,000,000.00
Is the above Direct Labor Cost proposed price reasonable?
Without knowing more about the assemblies, the above quote seems high to me. The first thing I notice is that the total quantity seems off. Per the above, total unit factored hours is 20, meaning 20 hours per unit to produce. To make 100 parts as requested, total quantity labor hours should be 20 x 100 = 2,000 but the above states 20,000. This would make the total cost $200,000 and not $2,000,000.
Putting that aside, the hourly labor rate of $100 seems extremely high to me- I understand there are varying positions of different ranging salaries (engineering, QC, manufacturing employees, etc.) but I’d like to see the justification of $100/hour for any of the positions involved. Secondly, Over Standard seems high- standard labor hours of 5.10 seems reasonable but the Over Standard is more than double this time. What makes up this additional time? Cost of the parts using standard labor hours would be 5.10 x 100 units x $100 = $51,000. Using my math above, total cost is coming out to $200,000 with the Over Standard which is a difference of almost $150,000 compared to Std Labor Hours alone. I would need to see justification on this over standard factor.
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Related Questions
Note: Answers to only D and E are required.
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Question 1
You are hired as a consultant for Skater Boys Incorporated, a firm with over five years
experience in the skate board industry.Due to changing demand and a move to
environmentally friendly products, the company wishes to enter the market with a new eco-
friendly finish on its skate boards. Based on your analysis of the company's operations,
Skater Boys Inc has three main choices. After careful inspection of their current equipment
the company can spend $800 in refurbishment of their old equipment or make major
modifications to its operations at a cost of $1100. If these options are not taken, they can also
choose to purchase new equipment at a cost of $1800.
If the firm chooses to refurbish their existing equipment, materials and labour per skate board
will be $1.10 while a material and labour cost of $0.70 per board is associated with the major
modification choice. If however the company chooses to buy new equipment, the associated
variable cost is estimated to be $0.40 per…
arrow_forward
Question 1
You are hired as a consultant for Skater Boys Incorporated, a firm with over five years
experience in the skate board industry.Due to changing demand and a move to
environmentally friendly products, the company wishes to enter the market with a new eco-
friendly finish on its skate boards. Based on your analysis of the company's operations,
Skater Boys Inc has three main choices. After careful inspection of their current equipment
the company can spend $800 in refurbishment of their old equipment or make major
modifications to its operations at a cost of $1100. If these options are not taken, they can also
choose to purchase new equipment at a cost of $1800.
If the firm chooses to refurbish their existing equipment, materials and labour per skate board
will be $1.10 while a material and labour cost of $.70 per board is associated with the major
modification choice. If however the company chooses to buy new equipment, the associated
variable cost is estimated to be $0.40 per…
arrow_forward
Case Study 1:
Nancy is leading a Scrum project for her organization. The project is to create new software for the Accounting Department. She is meeting with Tom, the director for the accounting department and the project team members to discuss the requirements of the project. Tom, Nancy, and the project team have identified all the requirements that Tom would like the app to have, but now Nancy wants to organize the list of requirements in a prioritized view.
Based on this scenario,What role does Tom play?What can the scrum team do to help Nancy and Tom at this point of the project?What is the list of requirements called?Who should be prioritizing the list of requirements in this scenario?Case Study 2:
Jason is a project manager for his organization, and he’s been asked to lead an XP project. This project will create a new app to rate restaurants in an area based on how romantic the restaurant is for couples on dates. Jason is meeting with his organization’s client, Sara, to discuss…
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View a video conference from YouTube titled: “A Conference Call in Real Life by Tripp and Tyler.” Then answer the following questions.
What was the topic of the video conference?
Who were the participants? Where were they from?
How was the flow of the video conference?
Were there some technical glitches encountered? Were they resolved immediately? Explain further.
After viewing the sample video conference, what do you think are some of the constraints of this communication mode?
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5. In an FEA simulation, you did a mesh independence study. The results were compared
with an experimental test and errors were plotted in Figure 7.
a) Is the mesh with 8000 elements fine enough, and why?
b) Is there another error source in the simulation and what type of errors could it be?
Page 3 of 6
ENGG20071 Industrial Design & Product Case Studies
Errors
60%
50%
40%
30%
20%
10%
0%
500
1000
2000
4000 8000
Figure 7 Errors plot against number of elements
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Problem 01-03 (algo, with video solution)
To earn extra money in the summer, you grow tomatoes and sell them at a local farmers' market for $0.15 per pound. By adding
compost to your garden, you can increase your yield as shown in the accompanying table.
Instructions: Determine the number of additional pounds of tomatoes you are able to grow by using each additional pound of
compost. Then compute the additional revenue for marginal benefit) from each additional pound of compost. Enter your responses in
the table below, rounding the marginal benefit of each pound of compost to the nearest penny (two decimal places).
Pounds of
compost
0
1
2
3
4
5
Pounds of
tomatoes
100
6
120
125
128
130
131
131.5
Additional
pounds of
tomatoes
20
5
3
2
Additional
revenue (or
marginal benefit)
$
$
$
$
$
$
0.5
If compost costs $0.50 per pound and your goal is to make as much profit as possible, how many pounds of compost should you add?
Instructions: Enter your answer as a whole number
You should add]…
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Topic A Problem: While on vacation, you go to a miniature golf course on a weekday and notice no other
customers there while you golf. Why do you think a miniature golf course would stay open during the week
when it seems like the revenue from so few customers could not possibly cover the costs of running the golf
course? What is an example of another business that stays open even when it's slow, and their revenue does
not seem like it could cover their costs?
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(This is an intermediate mircoeconomics question) Arif and Aisha agree to meet for a date at a local dance club next week. In their enthusiasm, they forget to agree which venue will be the site of their meeting. Luckily the town has only two dancing venues, Palms and Oasis. Having discussed their tastes in dancing venues last week, both know that Arif prefers Palms to the Oasis and Aisha prefers the Oasis to Palms. In fact, their payoffs reflect that if both go to Oasis, Aisha’s utility is 3 and Arif’s 2, while if both go to Palms Arif’s utility is 3 and Aisha’s is 2. If they do not go to the same venue, then they both have a utility of 0.
(a) Write the payoff matrix and explain whether there are any pure Nash equilibria. Carefully explain what these are and why. Comment on the existence of any dominant strategy equilibria.
(b) Please calculate mixed strategy equilibria, if any, and then derive the probability that Arif and Aisha will find themselves at the same venue. (Carefully…
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A trader wants to open a diamond shop in the Singapore area with a choice of
the Kembangan, Orchard or Sembawang area. Each'of these area options has a
local supplier providing a price quote for the diamond as detailed in the table
below.
Area
Kembangan
Orchard
Sembawang
Questions:
a. What is the volume that must be met to get the economic value per area?
Determine the volume range for each area.
b. Make a crossover chart sketch that describes these conditions
c. If in the end the merchant wants to sell as many as 600 cans at a selling price of
Rp. 60,000 per can, calculate the profit from each area. Where did the merchant
finally determine his location?
Fixed cost
5,500,000.00
11,500,000.00
21,500,000.00
Variable cost
55,000.00
35,500.00
15,500.00
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(Only answer number 2 but use the info from number 1 on an excel file to show formulas used)
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Question 2
What are the two main problems that have caused the demise of the command systems?
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Assume you are an engineer working for a chemical production company. You are on the technical team that is responsible for deciding what to do about the dangerous chemical that your company is using to produce its best-selling chemical product. Recent reports have just made known the dangers of this chemical, and the company now needs to decide how to proceed. There are several options to consider: stop producing the harmful product altogether and take a hit on total profits; continue to make the product and sell it, like nothing's wrong, since the federal government has not cracked down. You could also spend money and engineering efforts in R&D to develop a safe chemical that would take its place. There is no guarantee that this would happen any time soon, but the scientists think it is realistically possible. To make matters worse, your biggest competitor produces this harmful product off-shore and is not hampered by the US regulations. If you stop producing this product…
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Question:
How does the average hourly manufacturing salary in Australia affect cost efficiency? How does the average hourly manufacturing salary in Asia and nearby countries impact Ford’s decisions to halt production? Elaborate and explain.
please answer
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Examples of tradeoffs that have both monetary and non monetary cost
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Break-Even Analysis Your buddy comes to you with a sure-fire way to make some quick money and help pay off your student loans. His idea is to sell T-shirts with the words “I get” on them. “You get it?” He says, “You see all those bumper stickers and T-shirts that say ‘got milk’ or ‘got surf.’ So this says, ‘I get.’ It’s funny! All we have to do is buy a used silk screen press for $7,200 and we are in business!” Assume there are no fixed costs and you depreciate the $7,200 in the first period. The tax rate is 21 percent. a. What is the accounting break-even point if each shirt costs $3.20 to make and you can sell them for $15 apiece? Now assume one year has passed and you have sold 5,000 shirts! You find out that the Dairy Farmers of America have copyrighted the “got milk” slogan and are requiring you to pay $20,000 to continue operations. You expect this craze will last for another three years and that your discount rate is 12 percent. b. What is the financial break-even point for your…
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Specific Subject: Microeconomics - Cost Functions
Complete the following attached table, assuming that P = 100
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Please could you help me answering this question, based on if you created a Virtual Reality game.
Please make sure that your answer is very detailed throughout each step of the answer
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I want a Clear and Specific graph. Thanks
You also can provide some verbal explanations.
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Question:
How does the average hourly manufacturing salary in Australia affect cost efficiency? How does the average hourly manufacturing salary in Asia and nearby countries impact Ford’s decisions to halt production? Elaborate and explain.
need help
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There are two parts to this question; first is a chart and second are fill in the blanks. I am getting a graph that doesn’t look exactly like I’d expect, and therefore I’m having some trouble with the fill-in the blanks. If you could show how you got your answer as well, that would be great! Thanks!
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Homework (Ch 09)
* MindTap - Cengage Learning
x +
atic/nb/ui/evo/index.html?deploymentld=58830023220612202193347127562&elSBN=9781337622349&id=D908491136&snapshotld=19375308&
CENGAGE MINDTAP
Homework (Ch 09)
Suppose Ginny gives haircuts on Saturdays to make extra money. She is the only person in town cutting hair on Saturdays and therefore has some
market power. Assume that she does not incur fixed costs, and the only significant variable cost to Ginny is her time. As she gives more haircuts,
Ginny must increasingly forgo other valuable Saturday activities. For example, if she gives one haircut, she forgoes reading the paper after breakfast.
If she gives two haircuts, she gives up reading the paper and sleeping an extra half-hour.
Ginny's clients are a varied group willing to pay between $16.00 and $28.00 for a haircut. Assume that Ginny cannot price discriminate, i.e., charge
different clients different prices. If Ginny charges $28.00 per haircut, she will have one client per week; if…
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Don't answer without diagram
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Note : Please (Only do part 3)
Part 1: Some Once-lers live in a wonderful land filled with beautiful truffula trees. They each independently chop down the truffula trees to make and sell thneeds. The total value of thneeds sold is f(x) = 150x − 5x2, where x is the number of truffula trees chopped down. If it costs 20 dollars to chop down a truffula tree, how many trees will the members of the Once-ler family collectively chop down?
a. 13
b. 28
c. 24
d. 15
e. 14
Part 2: (continued from previous question) The Lorax appears from a truffula stump and demands that the Once-lers act more responsibly. He demands that they chop down the socially optimal number of truffula trees. How many trees would be chopped down in the social optimum?
a. 13
b. 16
c. 15
d. 14
e. 12
Part 3: (Continued from above) Because the Once-lers are motivated by individual profit and won’t simply do what the Lorax says, he instead imposes a fine for every tree that the Once-lers chop down. How big must this fine be…
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We have the results from our first Facebook ad campaign. The following table summarizes the
results broken down by age and whether the person seeing the add clicked through.
Age 40 or under
85
Age more than 40
65
Total
Clicked Through
150
Did Not Click
590
260
850
Total
675
325
1000
For our up(combing) (pun intended) campaign, I want to make it as effective as possible, a cut
above all other ad campaigns! I'm thinking that since 85 (or 56.7%) of the 150 people who
clicked through to our website are age 40 or less, we should focus our ads to only younger
people. I'm not great with number though, and since I know you had a stats class in college, I
wanted to get your opinion. Should we focus our adds only to those age 40 and under or should
we do something else?
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1-18 Katherine D’Ann is planning to finance her college education by selling programs at the football games for State University. There is a fixed cost of $400 for printing these programs, and the variable cost is $3. There is also a $1,000 fee that is paid to the university for the right to sell these programs. If Katherine was able to sell programs for $5 each, how many would she have to sell in order to break even?
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