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- Goldratt’s “Theory of Constraints”A 2-3 line answer/explanation is enough for each question.#1. What is the goal? #2. Alex’s thinking seems to be “distorted” by conventional management accounting metrics. What problem or problems does this lead to?#3. What are the three operational measurements? Include a one or two sentence description of each. #4. How is each operational measurement computed? #5. Of the three measures, which measure has the greatest impact on profitability? Briefly, describe why this differential impact might be true.#6. What are the five focusing steps as first described? #7. What are the five focusing steps that are finally settled upon? #8. What are the six “takeaways” on how to drive continuous improvement? #9. How might this approach be useful almost any organization)? #10. Any other comments that you care to make. *** Your general assessment of TOC. *** *** Of special interest is any experience you might have had with using the TOC. Basic situation or…College Creations, Inc (CC), builds a loft that is easily adaptable to most dorm rooms or apartments and can be assembled into a variety of configurations. Each loft is sold for $500, and the cost to produce one loft is $300, including all parts and labor. CC has fixed costs of $100,000. A.What happens if CC produces nothing? B.Now, assume CC produces and sells one unit (loft). What are their financial results? C.Now, what do you think would happen if they produced and sold 501 units? D.How many units would CC need to sell in order to break even? E.How many units would CC need to sell if they wanted to have a pretax profit of $50,000?Suppose the military bureaucracy consistently misinforms Congress on the total costs of producing militaryhardware. Assume that it underestimates the actual costs and that the political representatives believethese estimates. Show how this is likely to cause a loss in efficiency. Show the efficient output of militaryhardware, the output desired by the military bureaucracy, and how the output chosen will differ from the efficient output even if Congress attempts toachieve efficiency. In your answer, assume that the military seeks to maximize the size of its budget.
- So and Ralph have joined forces to start SoRap Chip Products, a processor of packaged okra chips.So has years of food processing experience, and Ralph has extensive commercial food preparationexperience. Together with the help from vendors, they can adequately estimate demand, fixed costs,revenues, and variable cost per 5-pound bag of okra. They think a largely manual process will havemonthly fixed cost of 37,500Php and variable cost of 1.75Php per 5-pound bag. A more mechanizedprocess will have fixed costs of 75,000Php per month with variable costs of 1.25Php per 5-poundbag. They expect to sell the okra chips for 2.50Php per 5-pound bag. What is the break-even quantityfor the manual process?20 - What is the positive difference that occurs by subtracting the total expenses incurred from the total revenues of the business? a) Snow B) Investment NS) Growth D) Capital TO) DamageCould you show me the equation and breakdown of this, that I could understand? Particulars Amount Units Produced 5,000 Total production cost 290,000 Fixed cost 30,000 Total variable cost 260,000 Variable cost per unit $52
- Suppose SureStep could begin a machinery upgrade and training program to increase its worker productivity. This program would result in the following values of labor hours per pair of shoes over the next four months: 4, 3.9, 3.8, and 3.8. How much would this new program be worth to SureStep, at leastfor this four-month planning horizon with no backlogging? How might you evaluate the program’s worth beyond the next four months?changes to the company’s operations and then reviews the resulting revenue. What step in the planning/control cycle would this represent?If the cost of direct material is 60%, direct labor is 10%, and overhead is 25% of sales, what will be the improvement in profit if direct material is reduced to 55%?
- Suppose SureStep could begin a machinery upgrade and training program to increase its worker productivity. This program would result in the following values of labor hours per pair of shoes over the next four months: 4, 3.9, 3.8, and 3.8. How much would this new program be worth to SureStep, at least for this four-month planning horizon with no backlogging? How might you evaluate the program’s worth beyond the next four months?7) In Operations Management, business function responsible means Planning only Coordinating only All the above Controlling Resources only 8) Operations Management is nothing but planning, organizing, staffing, and controlling, and directing and improving the production system planning, organizing, staffing, and controlling planning, organizing, staffing, and controlling and directing the production system 9) Operations Manager Responsibility is Control All the above To make sure Productivity PlanTRUE/FALSE 1.Managers develop quantity standards when they decide what amount of input should be used per unit of output. 2.Managers develop price standards when they determine what amount should be paid for the quantity of input to be used. 3.The standard cost per unit of output for a particular input is calculated by multiplying the standard price per unit by the standard number of units produced. 4.Standard costs are developed for direct materials, direct labour, and variable overhead only. 5.In setting standards, historical experience is the best source to use when determining the most efficient way to operate. 6.Operating personnel can easily achieve standards set by engineering studies. 7.Ideal standards can be achieved under efficient operating conditions. 8.Ideal standards allow for machine breakdowns, slack, or…
