An operations planner, Lovell Bradley, is developing a sales and operations plan that involves back orders. The company's demand and production rates for the next four periods are as follows. Period Demand Production 1 8,200 8,000 2 10,000 8,000 3 7,000 8,000 4 6,600 7,600 Beginning inventory at the start of period 1 is 400 units. a) The company holds a positive level of ending inventory in periods [ Select] 4 ✓, and this level equals [Select] 2 and 4 3 and 4 1 and 2 1 and 3 1 and 4 2 and 3 in ea rs in periods
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- The Tinkan Company produces one-pound cans for the Canadian salmon industry. Each year the salmon spawn during a 24-hour period and must be canned immediately. Tinkan has the following agreement with the salmon industry. The company can deliver as many cans as it chooses. Then the salmon are caught. For each can by which Tinkan falls short of the salmon industrys needs, the company pays the industry a 2 penalty. Cans cost Tinkan 1 to produce and are sold by Tinkan for 2 per can. If any cans are left over, they are returned to Tinkan and the company reimburses the industry 2 for each extra can. These extra cans are put in storage for next year. Each year a can is held in storage, a carrying cost equal to 20% of the cans production cost is incurred. It is well known that the number of salmon harvested during a year is strongly related to the number of salmon harvested the previous year. In fact, using past data, Tinkan estimates that the harvest size in year t, Ht (measured in the number of cans required), is related to the harvest size in the previous year, Ht1, by the equation Ht = Ht1et where et is normally distributed with mean 1.02 and standard deviation 0.10. Tinkan plans to use the following production strategy. For some value of x, it produces enough cans at the beginning of year t to bring its inventory up to x+Ht, where Ht is the predicted harvest size in year t. Then it delivers these cans to the salmon industry. For example, if it uses x = 100,000, the predicted harvest size is 500,000 cans, and 80,000 cans are already in inventory, then Tinkan produces and delivers 520,000 cans. Given that the harvest size for the previous year was 550,000 cans, use simulation to help Tinkan develop a production strategy that maximizes its expected profit over the next 20 years. Assume that the company begins year 1 with an initial inventory of 300,000 cans.Planners for a company that makes several models of skateboards are about to prepare theaggregate plan that will cover six periods. They have assembled the following information.Period 1 2 3 4 5 6 TotalForecast 200 200 300 400 500 200 1,800CostsOutputRegular time = $2 per skateboardOvertime = $3 per skateboardSubcontract = $6 per skateboardInventory = $1 per skateboard per period on average inventoryBack orders = $5 per skateboard per periodThey now want to evaluate a plan that calls for a steady rate of regular-time output,mainly using inventory to absorb the uneven demand but allowing some backlog. Overtimeand subcontracting are not used because they want steady output. They intend to start withzero inventory on hand in the first period. Prepare an aggregate plan and determine its costusing the preceding information. Assume a level output rate of 300 units (skateboards) perperiod with regular time (i.e., 1,800/6 = 300). Note that the planned ending inventory iszero. There are 15…The ABC Company is making a production plan for the next year, given the sales forecast for the next year as: Quarter 1 2 3 4 Total Sales Forecast (units) 9,000 12,000 16,000 12,000 49,000 Currently, the firm has 12 employees, each producing up to 1,000 units per quarter and earning $2,000 per quarter. The firm estimates its inventory carrying cost to be $2 per unit of ending inventory per quarter and its hiring or layoff costs to be $1,600 per employee. The company currently has an inventory of 2,000 units and wishes to have an ending inventory of at least 1,000 units at the end of each quarter. The company does not plan to incur inventory shortages. Find the optimal production plan that minimizes the total cost by Excel solver
- Lake Stevens Marina has estimated that fixed costs per month are $350,000 and variable cost per dollar of sales is $0.30 . The selling price per dollar of sales is: $1.00 Determine the effect on the break-even point in sales dollars considering each of the following independently. 1. Total fixed costs increase to $365,000. Break-even point = ÷ = 2. Variable costs decline to $0.25 per sales dollar. Break-even point = ÷ = 3. The anticipated sales volume increases to $1,100,000. Break-even point = ÷ = Comment on the BEPs from the above analyses in questions 1,2,3.Northwest Pipe (NP) makes water pipe. NP is planningproduction for the next seven months, March through September.Th e forecast demands (in thousands of feet) are, respectively, 40,60, 70, 80, 90, 100, and 80. NP can make 75,000 feet of pipe permonth using regular-time production, at a cost of $1.25 per foot.Th ey can make up to an additional 15,000 feet using overtimeproduction at a cost of $1.50 per foot. Any pipe made in onemonth and sold in a later month incurs an inventory holding costof $0.15 per foot, per month. NP expects to end February with5000 feet of pipe and would like to plan to end September with10,000 feet in inventory. NP would like to plan their productionschedule to minimize total cost during the next seven months. (a) Formulate an LP to minimize total costs.(b) Set up and solve the problem on a spreadsheet.(c) What is the optimal solution? Explain the rationale for thesolutionDemand for a product is forecasted for the six periods is 263, 256, 301, 312, 304, and 294 respectively. If a CHASE DEMAND strategy is adopted, and the regular production cost is RO 12 per unit with a maximum regular production of 280 units per period. While, the overtime and subcontract costs are RO 20 and RO 25 per unit respectively. There is no limit on subcontracting however, maximum overtime production capacity is 10. Average inventory holding cost is RO 5 per unit per period. What will be the tatal cost of subrontracting the production? Select one: O a 12/5 O b. 19668 O C. RO0 Odo O e. None is correct
- The Yeasty Brewing Company Produces a popular local beer known as Iron Stomach. Beer sales are somewhat seasonal, and Yeasty is planning its production and workforce levels on March 31 for the next six months. The demand forecasts are as follows: month production days demand(in hundred of cases) April 14 75 May 20 100 June 24 200 July 26 140 August 20 100 September 18 50 As of March 31, Yeasty had 70 workers on the payroll. Over a period of 20 working days when there are 100 workers on the pay roll, Yeasty produced 10,000 cases of beer. The cost to hire each worker is $200 and the cost of laying off each worker is $400. Holding costs amount to 1 dollar per case per month. As of March 31, Yeasty expects to have 3,000 cases of beer in stock. It plans to start October with 3,500 cases on hand. a) Formulate the problem of planning Yeasty’s production levels as a linear program. b) Use Excel solver to solve the problem and give the solution (decision variables and…Demand for a product is forecasted for the six periods is 263, 256, 301, 312, 304, and 294 respectively. If a CHASE DEMAND strategy is adopted, and the regular production cost is RO 12 per unit with a maximum regular production of 280 units per period. While, the overtime and subcontract costs are RO 20 and RO 25 per unit respectively, There is no limit on subcontracting: however, maximum overtime production capacity is 10. Average inventory holding cost is RO 5 per unit per period. How many units in total are held as inventory? Select one Oa 40 Ob 51 Oco Od None is correct Oe. 1629Management at the Kerby Corporation has determined the following aggregated demand schedule (in units):Month 1 2 3 4Demand 500 800 1,000 1,400Month 5 6 7 8Demand 2,000 3,000 2,700 1,500Month 9 10 11 12Demand 1,400 1,500 2,000 1,200An employee can produce an average of 10 units per month. Each worker on the payroll costs $2,000 in regular-time wages per month. Undertime is paid at the same rate as regular time. In accordance with the labor contract in force, Kerby Corporation does not work overtime or use subcontracting. Kerby can hire and train a new employee for $2,000 and lay off one for $500. Inventory costs $32 per unit on hand at the end of each month. At present, 140 employees are on the payroll and anticipation inventory is zero.a. Prepare a production plan that only uses a level workforce and anticipation inventory as its supply options. Minimize the inventory left over at the end of the year. Layoffs, undertime, vacations, subcontracting, backorders, and stockouts are not…
- The company is expected to have a cash balance of 65,000 on January 1, 2021. The company wants to maintain a minimum cash balance of $15,000. Loan and interest payments are made in multiples of 10,000 in the earliest quarter in which there is sufficient cash (that is, when the cash on hand exceeds the $15,000 minimum required balance). Prepare a 1.labour and 2.manufacturing overhead budgetWine Accessories Inc. (WAI) produces two models of corkscrews, the standard model and a deluxe model. WAI follows a level aggregate plan, producing 20,000 corkscrews per month, or 5000 corkscrews per week. Th e MPS is developed in weekly time periods. Th e forecasts for each model and the projected available are shown in the next two tables. Th e replenishment order quantity is 2000 units for the standard model and 1000 units for the deluxe model. Note that you can place multipleorders if a single order is insuffi cient to cover the forecast (you can produce 4000 units of the standard model if necessary, or 2000 or 3000 units of the deluxe model). Remember that total weekly production is limited to 5000 corkscrews. Develop an MPS for each of the products.Barker Company produces and sells a single product with budgeted or standard costs as follows: Inputs Standards Direct materials 10 lbs at $10.00 per pound Direct labor 8 hours at $12.50 per hour Variable factory overhead 8 hours at $20.00 per hour Fixed factory overhead 8 hours at $40.00 per hour Overhead rates are based on 8,000 standard direct labor hours per month, i.e., this is the master budget denominator activity level. Desired ending inventories of materials are based on 10% of the next months materials needed. Desired ending finished goods are based on 5% of next periods budgeted unit sales. Unit Sales are budgeted as follows: January February March April 1,000 1,200 1,600 1,400 The budgeted sales price is $1000 per unit. Sales are budgeted as 80% credit sales and 20% cash sales. Past experience indicates that 60% of credit sales are collected during the month of sale, 38% are collected in the following month, and…