Deforrest Marine Motors manufactures engines for the speedboat racing circuit. As part of their annual planning cycle, they forecasted demand for the next four quarters. The number of available days of production and the anticipated demand are given below.
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- 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 solverFormulate a chase sales and operations plan for a company with the following predicted demand: Month 1 2 3 4 5 6 Total Demand 55,200 49,600 12,800 24,800 50,400 25,600 218,400 The beginning workforce is 160 employees. The monthly output per employee is 400 units. The cost to hire and lay off a worker are $2,500 and $3,500, respectively. The cost to carry an item in inventory for one month is estimated at $14, and the stockout cost is $25 per unit. Show the production schedule, the inventory levels, and the changes in the workforce…Cotton Island Fashions, a clothing producer, has generated a forecast for the next eightweeks. Demand is expected to be fairly steady, except for periods 3 and 4, which havehigher demands.Month 1 2 3 4 5 6 7 8 TotalForecast 1200 1200 1400 3000 1200 1200 1200 1200 11600The company typically hires seasonal workers to handle the extra workload in periods 3and 4. The cost for hiring and training a seasonal worker is $50 per worker, and thecompany plans to hire two additional workers and train them in period 3, for work in period4, and then lay them off (no cost for layoff). Develop an aggregate plan that uses steadyoutput from regular workers with added output from the two seasonal workers in period 4.The output rate for the seasonal workers is slightly less than that of regular workers, sotheir cost per unit is higher. The cost per unit for regular workers is $4 per unit, while costper unit for the seasonal workers is $5 per unit. Backlog cost is $1 per unit per period.
- Briefly describe the planning techniques listed as follows, and give an advantage and disadvantagefor each:a. Spreadsheetb. Linear programmingc. SimulationThe Scottville "Mill" produces five different fabrics. Each fabric can be woven on one or more of the mill's 38 looms. The sales department has forecast demand for the next month. The demand data are shown in Table 1.0 below along with data on the selling price per yard, variable cost per yard, and purchase price per yard. The mill operates 24 hours a day and is scheduled for 30 days during the coming month. The Mill has two types of looms: dobbie and regular. The dobbie looms are more versatile and can be used for all five fabrics. The regular looms can produce only three of the fabrics. The Mill has a total of 38 looms: 8 are dobbie and 30 are regular. The rate of production for each fabric on each type of loom is given in Table 1.1. The time to change over from producing one fabric to another is negligible and does not have to be considered. The Scottsville Mill satisfies all demand with either its own fabric or fabric purchased from another mill. Fabrics that cannot be woven at…Garfield Industries is expanding its operations throughout the Southeast United States. Garfield anticipates that the expansion will increase sales by $1,000,000 and increase operating costs (excluding depreciation and amortization) by $700,000. Depreciation and amortization expenses will rise by $50,000, interest expense will increase by $150,000, and the company’s tax rate will remain at 40 percent. If the company’s forecast is correct, how much will net income increase or decrease, as a result of the expansion?
- Louis Clark, the new administrator for the surgical clinic, was trying to figure out how to allocate his indirect expenses. His staff was complaining that the current method of taking a percentage of revenues was unfair. He decided to try to allocate utilities expense based on square footage for each department, to allocate administration expense based on direct costs, and to allocate laboratory expense based on direct costs, and to allocate laboratory expense based on tests. What would the results be?The following data pertain to the Oneida Restaurant Supply company for the year just ended. Budgeted sales revenue $205,000 Actual manufacturing overhead $340,000 Budgeted machine hours (based on capacity) 10,000 Budgeted direct-labor hours ( based on capacity) 20,000 Budgeted direct-labor rate $14 Budgeted manufacturing overhead $364,000 Actual machine hours 11,000 Actual direct-labor hours 18,000 Actual direct-labor rate $15 Compute the firm's predetermined overhead rate for the year using each of the following common cost drivers: a) machine hours, b) direct-labor hours, and c) direct-labor dollars.Mt. Kinley is a strategy consulting firm that divides its consultants intothree classes: associates, managers, and partners. The firm has been stable in size for the last 20years, ignoring growth opportunities in the 90s, but also not suffering from a need to downsize inthe recession at the beginning of the 21st century. Specifically, there have been—and areexpected to be—200 associates, 60 managers, and 20 partners.The work environment at Mt. Kinley is rather competitive. After four years of working as anassociate, a consultant goes “either up or out”; that is, becomes a manager or is dismissed fromthe company. Similarly, after six years, a manager either becomes a partner or is dismissed. Thecompany recruits MBAs as associate consultants; no hires are made at the manager or partnerlevel. A partner stays with the company for another 10 years (a total of 20 years with thecompany).A. How many new MBA graduates does Mt. Kinley have to hire every year?B. What are the odds that a new hire…
- Wine 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.LPM Corp. produces and sells two types of frozen burgers, Turkey Burgers and Veggie Burgers. In the most recent month, the firm sold 12,000 Turkey Burgers and 8,000 Veggie Burgers. Turkey Burgers sold for $14.00 per box and variable costs were $7.40 per box. The Veggie Burgers sold for $16.00 per box and variable costs were $8.25 per box. The fixed expenses of the entire company were $41,160. If the sales mix were to shift toward the Turkey Burgers product line with total sales volume remaining constant at 20,000, the overall break-even point for the entire company:CVP Analysis Lawn Master Company, a manufacturer of riding lawn mowers, has a projectedincome for the coming year as follows:Sales $46,000,000Operating expenses:Variable expenses $32,200,000Fixed expenses 7,500,000Total expenses 39,700,000Operating profit $ 6,300,000Required1. Determine the breakeven point in sales dollars.2. Determine the required sales in dollars to earn a before-tax profit of $8,000,000.3. What is the breakeven point in sales dollars if the variable expenses increases by 12%?