Quiz_ Practice Problems for Exam 2 (3)

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10/19/23, 9:38 AM Quiz: Practice Problems for Exam 2 https://osu.instructure.com/courses/145300/quizzes/908941/take 1/3 Practice Problems for Exam 2 Started: Oct 19 at 9:38am Quiz Instructions Practice Problems (DO NOT COUNT TOWARDS YOUR GRADE) 1 pts Question 1 Randy wants to figure out his optimal number of hats per year based on the EOQ quanitty. He knows his demand is 80,695 hats per year and the cost to place an order is $20 and the holding cost is $5. Assume Randy has 200 working days per year. What is the optimal number of orders per year for Randy's Hats? (Round to the nearest whole number) 1 pts Question 2 Lily has been running out of stuffed animals and cannot seem to keep any on the shelf. She decides she needs to increase her safety stock. She knows that the average lead time delivery is 2 weeks. She also knows that her demand is 159 stuffed animals each week. She wants to boost her safety stock up to 3 weeks of demand. How low can her inventory get before she needs to purchase more stuffed animals? (Round to the nearest whole number) 1 pts Question 3 Finn is a ﬂip-ﬂop producer who is trying to figure out his annual cycle inventory cost. His annual demand is 64,960 ﬂip-ﬂops. He orders them in quantities of 100 and the order cost is $20 for each order. His Holding cost is $5. He works for 245 days a year. What is his annual cycle inventory cost? (Round to the nearest whole number) 1 pts Question 4 Andy is a firm believer in waking up early each morning to start his day. His passion for waking up early drove him to start his own business of making alarm clocks for deep sleepers. He knows that total monthly demand next month exceeds his capacity available for production. He produces 3 types of alarm clocks: vibrating, sunrise and foghorn. Each of these 3 alarm clock models pass through 3 stations in the assembly process. Andy estimates demand for next month to be 140 units of Vibrating clocks, 170 units of Sunrise clocks, and 195 units of Foghorn clocks. Andy's Alarms operates two 4-hour shifts per day and are scheduled to work 20 days next month. Additionally, each station requires a 10% capacity cushion. What is the total profit using the traditional method. P time in (min/unit) Processing time Processing time Processing time Product Station 1 Station 2 Station 3 RM ($/unit) Price ($/unit) Vibrating (V) 15 15 20 15 100 Sunrise (S) 10 20 15 10 90 Foghorn (F) 20 10 20 5 75

10/19/23, 9:38 AM Quiz: Practice Problems for Exam 2 https://osu.instructure.com/courses/145300/quizzes/908941/take 2/3 1 pts Question 5 Andy is a firm believer in waking up early each morning to start his day. His passion for waking up early drove him to start his own business of making alarm clocks for deep sleepers. He knows that total monthly demand next month exceeds his capacity available for production. He produces 3 types of alarm clocks: vibrating, sunrise and foghorn. Each of these 3 alarm clock models pass through 3 stations in the assembly process. Andy estimates demand for next month to be 140 units of Vibrating clocks, 170 units of Sunrise clocks, and 195 units of Foghorn clocks. Andy's Alarms operates two 4-hour shifts per day and are scheduled to work 20 days next month. Additionally, each station requires a 10% capacity cushion. When using the bottleneck method which product should be utilized first to be produced at full capacity? P time in (min/unit) Processing time Processing time Processing time Product Station 1 Station 2 Station 3 RM ($/unit) Price ($/unit) Vibrating (V) 15 15 20 15 100 Sunrise (S) 10 20 15 10 90 Foghorn (F) 20 10 20 5 75 Sunrise Foghorn Vibrating 1 pts Question 6 The figure above shows the time it takes for each step at Randy's other Icecream parlor in a different town. A customer walks in and goes to the sampling section, places their order at step 2, step 3 is when the worker makes their icecream- step 3a is the amount of time it takes to make a milkshake, while step 3b is the amount of time it takes to make a sundae and step 4 is the amount of time it takes to check out. How many customers can randy serve in an hour at his ice cream shop? 4 customers per hour 3 customers per hour 8 customers per hour 6 customers per hour 5 customers per hour 1 pts Question 7

10/19/23, 9:38 AM Quiz: Practice Problems for Exam 2 https://osu.instructure.com/courses/145300/quizzes/908941/take 3/3 Quiz saved at 9:38am Lily currently uses a subcontractor to make her jewelry which costs her $30 per necklace. She finds out she can buy equipment for $11,463 a year and it will cost her only $12 to make each necklace. She wants to figure out if it is worth it. Right now she currently sells 400 necklaces a year. How many more will she have to sell in order to hit the break-even point for the in-house making and using a subcontractor? (Round to the nearest whole number) 1 pts Question 8 Finn has been asked to make footballs for high schools around the nation. He has to make 30,000 this year. He is deciding if he should make them himself or plan to use a subcontractor. He knows the equipment will cost him $7,669 for a year and a variable cost of $10. A subcontractor will charge him $14 a football with no cost for equipment. What is the total price of the least costly way for Finn to produce footballs? (Round to the nearest whole number) 1 pts Question 9 Debbie makes packages of almonds. She has been working hard and wants to take a very long vacation. She leaves her best friend in charge of running her store. Debbie doesn't want to give her secret recipe to her friend, so she wants to leave her with enough inventory to last her vacation. She knows her average aggregate inventory is $30,000. Each week she sells 794 packages of almonds costing $10. How many weeks can Debbie take for vacation? (Round to one decimal place) Submit Quiz

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