Discuss real-world applications of the Wilson approach in different industries, such as retail, manufacturing, and healthcare.
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Discuss real-world applications of the Wilson approach in different industries, such as retail, manufacturing, and healthcare.
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- 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.How do non-linear system models differ from linear models, and what are the challenges associated with analyzing and controlling them?What type of linear optimization model is used in an healthcare industry. Describe the industry's needs, including any unique factors, how the linear optimization model was used, and the problem or challenge it addressed. Would you suggest a different model be used? Why or why not?
- The XYZ Corporation has been engaged in the manufacture of electronic components for automobiles for the last 5 years. The company employs 350 employees and about 30 supervisors and managers. The increase in technology requires that employees be sent to training to cope with the increasing demand for updated new products consistent with the demand of local and foreign customers. The HR manager suggested that 3 of the managers and 8 supervisors be sent to the mother company in Japan for updates in technology on car electronics. The Vice President for Finance and the Operation Manager opposed the recommendation on the basis of cost-cutting and lack of personnel to handle the operations while they were away for 2 months. They suggested that technicians from the mother company be invited instead to handle the training in the Philippines. The cost of training by the mother company would double the cost of training as they are paid higher allowances and salaries that will be…Palisades Eco-Park is a small ecological reserve that admits a relatively small number of visitors on any day, but provides both educational and entertaining lectures, exhibitions, and opportunities to observe nature. The company has collected the following data on labor costs and number of visitors to the park over the last 30 months. Month Labor Cost Visitors 1 $ 26,720 2,600 2 $ 37,555 3,964 3 $ 41,361 4,299 4 $ 32,751 3,398 5 $ 36,022 3,630 6 $ 33,811 3,336 7 $ 33,139 3,372 8 $ 39,671 4,093 9 $ 39,912 4,222 10 $ 48,568 5,463 11 $ 43,627 4,551 12 $ 40,390 4,289 13 $ 35,644 3,694 14 $ 34,330 3,573 15 $ 38,260 3,836 16 $ 27,424 3,210 17 $ 31,732 5,195 18 $ 31,005 4,260 19 $ 28,552 3,689 20 $ 31,049 4,546 21 $ 26,588 3,058 22 $ 25,515 2,744 23 $ 29,899 4,997 24 $ 31,204 5,838 25 $ 29,099 3,964 26 $ 32,795 5,007 27 $ 29,650 4,572 28 $ 30,970 4,665 29 $ 29,429 3,841 30 $ 28,846 3,174 Required: a. Estimate the labor…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…
- A manufacturing company has the following financial information (in millions of $)Sales $562Cost of goods soldDirect labor 43Purchased materials 267Overhead 35All other costs 142Pretax earnings 75a. What is the profit leverage effect of purchasing in this company?b. What is the percent increase in earnings from a 5 percent savings in purchasing?NetScan IT Solutions is an IT service and support organization located in a major metropolitan area. The organization consists of eight first-line supervisors, 30 field technicians/installers, 10 part time Tier 1 help desk technicians, 1 CCNE, 1 CCNA, and numerous personnel that provide organizational administrative support. NetScan provides diagnostic, installation, consultation, and numerous other services related to all aspects and domains in information technology. The organization has not been very progressive with its internal service records, service scheduling, and other service and support information as many of these records are paper-based. Procedures and processes are not formally documented by the organization and the staff is having difficulty keeping up with the daily demands of normal operations. Documentation is lost or misplaced on a fairly regular basis, putting the staff into crisis mode as they try to make things right. The Board of Directors recently hired a…Apha Research Consultants is a marketing research consultancy operating in Jamaica for approximately 3 years. Its proprietor and sole employee, Mr. John Waterman is a graduate of the University of the West Indies with an elective in Management Studies. In his previous job before starting with Alpha, Mr. Waterman worked for 10 years with a major research consultancy; 3 of these years he was employed in the capacity of Assistant Manager-Market Research. Mr. Waterman considers himself a very good researcher and with experience and knowledge gained from his previous job along with his Management Studies degree, he believes that he is equip for successfully managing this entity despite only doing one course in market research in his degree programme; completed in semester one of 2000. Alpha Research Consultants offers 3 distinct services – employee satisfaction survey, product demand studies and customer satisfaction survey. These services are priced below market as Alpha’s operating costs…
- Apha Research Consultants is a marketing research consultancy operating in Jamaica for approximately 3 years. Its proprietor and sole employee, Mr. John Waterman is a graduate of the University of the West Indies with an elective in Management Studies. In his previous job before starting with Alpha, Mr. Waterman worked for 10 years with a major research consultancy; 3 of these years he was employed in the capacity of Assistant Manager-Market Research. Mr. Waterman considers himself a very good researcher and with experience and knowledge gained from his previous job along with his Management Studies degree, he believes that he is equip for successfully managing this entity despite only doing one course in market research in his degree programme; completed in semester one of 2000. Alpha Research Consultants offers 3 distinct services – employee satisfaction survey, product demand studies and customer satisfaction survey. These services are priced below market as Alpha’s operating costs…Apha Research Consultants is a marketing research consultancy operating in Jamaica for approximately 3 years. Its proprietor and sole employee, Mr. John Waterman is a graduate of the University of the West Indies with an elective in Management Studies. In his previous job before starting with Alpha, Mr. Waterman worked for 10 years with a major research consultancy; 3 of these years he was employed in the capacity of Assistant Manager-Market Research. Mr. Waterman considers himself a very good researcher and with experience and knowledge gained from his previous job along with his Management Studies degree, he believes that he is equip for successfully managing this entity despite only doing one course in market research in his degree programme; completed in semester one of 2000. Alpha Research Consultants offers 3 distinct services – employee satisfaction survey, product demand studies and customer satisfaction survey. These services are priced below market as Alpha’s operating costs…Apha Research Consultants is a marketing research consultancy operating in Jamaica for approximately 3 years. Its proprietor and sole employee, Mr. John Waterman is a graduate of the University of the West Indies with an elective in Management Studies. In his previous job before starting with Alpha, Mr. Waterman worked for 10 years with a major research consultancy; 3 of these years he was employed in the capacity of Assistant Manager-Market Research. Mr. Waterman considers himself a very good researcher and with experience and knowledge gained from his previous job along with his Management Studies degree, he believes that he is equip for successfully managing this entity despite only doing one course in market research in his degree programme; completed in semester one of 2000. Alpha Research Consultants offers 3 distinct services – employee satisfaction survey, product demand studies and customer satisfaction survey. These services are priced below market as Alpha’s operating costs…