Please answer all subparts questions. Thank you Schedule D: Suppose the regular rate of production is 700 units per period. Further, you are allowed to produce 100 units during each of the periods 3,4, and 5 on an overtime basis, but the subcontractor has gone out of business. You can hire two temporary workers during the periods 3, 4, and 5. Each worker can produce 50 units per period at the regular cost. But it costs $200 to train a worker and check the quality of the product during each of the three periods. (23) The back-order cost for the fifth period is: (a) $200 (b) $400 (c) $500 (d) $1000 (e) none of the above (24) The total cost of meeting the demand is: (a) $17,700 (b) $18,900 (c) $18,300 (d) $17,200 (e) none of the above (25) Which of the following options would help the manager in minimizing the total costs? (a) Regular time production only (b) Combination of regular and overtime production (c) Combination of regular and overtime production, and subcontracting (d) Combination of regular and overtime production, and temporary workforce (e) None of the above

Please answer all subparts questions. Thank you Schedule D: Suppose the regular rate of production is 700 units per period. Further, you are allowed to produce 100 units during each of the periods 3,4, and 5 on an overtime basis, but the subcontractor has gone out of business. You can hire two temporary workers during the periods 3, 4, and 5. Each worker can produce 50 units per period at the regular cost. But it costs $200 to train a worker and check the quality of the product during each of the three periods. (23) The back-order cost for the fifth period is: (a) $200 (b) $400 (c) $500 (d) $1000 (e) none of the above (24) The total cost of meeting the demand is: (a) $17,700 (b) $18,900 (c) $18,300 (d) $17,200 (e) none of the above (25) Which of the following options would help the manager in minimizing the total costs? (a) Regular time production only (b) Combination of regular and overtime production (c) Combination of regular and overtime production, and subcontracting (d) Combination of regular and overtime production, and temporary workforce (e) None of the above

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 33P: Assume the demand for a companys drug Wozac during the current year is 50,000, and assume demand...

See similar textbooks

Similar questions

Suppose the utility function for goods x and y is given by U(x,y) = xy + y4.1. Calculate the uncompensated (Marshallian) demand functions for x and y and describe how the demand curves for x and y are shifted by changes in I or the price of the other good.4.2. Calculate the expenditure function for x and y.4.3. Use the expenditure function calculated in (4.2) to compute the compensated demand functions for goods x and y. Describe how the compensated demand curves for x and y are shifted by changes in income or by changes in the price of the other good.4.4. Given money income = 6, px = 2, py = 2, calculate CV, EV, and consumer surplus when px becomes 4.
Please do not give solution in image formate thanku. Develop a production plan and calculate the annual cost for a firm whose demand forecast is fall, 10,000; winter, 8,000; spring, 7,000; summer, 12,000. Inventory at the beginning of fall is 500 units. At the beginning of fall, you currently have 30 workers, but you plan to hire temporary workers at the beginning of summer and lay them off at the end of summer. In addition, you have negotiated with the union an option to use the regular workforce on overtime during winter or spring if overtime is necessary to prevent stock outs at the end of those quarters. Overtime is not available during the fall. Relevant costs are hiring, $100 for each temp; layoff, $200 for each worker laid off; inventory holding, $5 per unit-quarter; backorder, $10 per unit; straight time, $5 per hour; overtime, $8 per hour. Assume that the productivity is 0.5 unit per worker hour, with eight hours per day and 60 days per season.
Your Corporation manufactures four products that use the same raw material and production machine. Your Company is experiencing a shortage of pounds of the raw material. Information related to the four products are shown below. Products A B C D Selling price $40 $32 $35 $65 Variable cots $34 $22 $27 50 Machine hours per unit 6 8 5 7 Pounds per unit 18 20 28 38 To maximize profit next month, in what order would it be best to schedule production (first to last)? a. A, B, C, D b. A, D, B, C c. B, D, A, C d. D, A, C, B
You manage a production line that operates using a monthly production cycle. There are five different products that could be made this month. However, you only have 500 hours of line capacity, so you must be careful which products you select to make in the production cycle. Making a product incurs two types of setup costs: (1) a material “tear down” cost (measured in dollars) and (2) downtime for line preparation (measured in hours). Any quantity up to the forecasted monthly demand can be sold. Additional production details are given in the table below: Product 1 Product 2 Product 3 Product 4 Product 5 Monthly Demand 1000 units 1100 units 1700 units 1600 units 1500 units Revenue (per unit) $150 $175 $155 $200 $225 Production Cost (per unit) $60 $70 $60 $100 $110 Set Up Cost $10000 $15000 $25000 $10000 $5000 Set Up Time 25 hrs 15 hrs 0 hrs 10 hrs 30 hrs Production Time (per unit) .1 hrs .12…
The Ace Company sells a single product at a budgeted selling price per unit of $20. Budgeted fixedmanufacturing costs for the coming period are $10,000, while budgeted fixed marketing expenses forthe period are $24,000. Budgeted variable costs per unit include $2 of selling expenses (commission)and $4 of manufacturing costs. What is the budgeted operating income if the anticipated sales volumefor the period is (1) 10,000 units, and (2) 15,000 units? (Round answers to the nearest whole number.)
I need a detailed assistance to solve this problem in: Operations Analysis. 3) A chemical manufacturer produces a compound at the rate of 10,000 pounds a day over 250 days each year. Annual demand for that compound is 600,000 pounds per year, and each pound sells for $3.90. There is a fixed setup cost of $1,500 for each production run, and a variable cost of $3.50 for each pound produced. The following costs are incurred: Interest rate on the cost of capital is 22% per annum (annually). Storage and handling costs amount to 12% of the compounds cost per annum. a)- What is the optimal production lot for the compound (write down the model name, its parameters and formula)? b)- Compute the uptime, downtime and cycle time in days, and find the cycle fraction of uptime and the cycle fraction of downtime (include the formula). c)- What are average annual holding and setup costs for the compound (include the formula)? d) - What is the annual profit for this compound?
You are selling a new line of T-shirts on the boardwalk. The selling price will be $25 per shirt. The labor cost is $5 per shirt. The administrative costs of operating the company are estimated to be $60,000 annually, and the sales and marketing expenses are $20,000 a year. Additionally, the cost of materials will be $10 per shirt. What is the break-even quantity? Multiple Choice 2,000 shirts 3,200 shirts 5,334 shirts 8,000 shirts 16,000 shirts
As manager of the St. Cloud Theatre Company, you have decided that concession sales will support themselves. The following table provides the information you have been able to put together thus far: ITEMSELLING PRICEVARIABLE COST% OF REVENUE Soft Drink$1$0.6025 Wine1.750.9025 Coffee2.000.3530 Candy1.500.2020 You estimate labor cost to be $250.00 (5 booths with 2 people each). Even if nothing is sold, your labor cost will be $250.00, so you decide to consider this a fixed cost. Booth rental, which is a contractual cost at $50.00 for each booth per night, is also a fixed cost. What is the break-even volume per evening performance? How much wine would you expect to sell each evening at the break-even point? If you can solve the question using Excel OM.
As manager of the St. Cloud Theatre Company, you have decided that concession sales will support themselves. The following table provides the information you have been able to put together thus far: ITEMSELLING PRICEVARIABLE COST% OF REVENUE Soft Drink$1$0.6025 Wine1.750.9025 Coffee2.000.3530 Candy1.500.2020 You estimate labor cost to be $250.00 (5 booths with 2 people each). Even if nothing is sold, your labor cost will be $250.00, so you decide to consider this a fixed cost. Booth rental, which is a contractual cost at $50.00 for each booth per night, is also a fixed cost. What is the break-even volume per evening performance? How much wine would you expect to sell each evening at the break-even point? Please solve the question using Excel OM.
1.The company has three months (April. May and June) for subtracting the units for both NOOR-Company's and AL-SALAM company 2. The company should first satisfy AlNOOR company demand then AL-SALAM company demand. 3. Both production units will work in producing the units 4. Production Unit B will be busy during April 5. The company can work up to 24 hours per day 6. The profit should be at least $1500 Do you think that XYZ-Company should accept or reject the offer?
Suppose that you are running a factory, producing parts for cars that require steel as raw material. Your costs are predominantly human labour, which is €20/hour for your workers, and steel itself, which runs for €170/ton. Suppose that your revenue R is described as follows: R(h,s)=200h0,5s0,5, where h is hours of labour and s is tons of steel. Your total budget is €37950, what is the maximum possible revenue you could earn?
Holding cost = $7 per unit per month Subcontracting cost = $65 per unit Regular time labor cost = $15 per hour. Each worker works 8 hours per day as regular time laborers Overtime labor cost = $19 per hour for hours above 8 hours per worker per day Hiring cost = $40 per worker Firing cost = $80 per worker Demand during the month of June = 640 units Labor hours per unit = 3 Beginning inventory in July = 150 units Please follow the outlined strategy accurately. The strategy is to fulfill the gross demand in each month, storing any excess units in a warehouse as inventory. The warehouse can only hold 300 units maximum, so any additional units that cannot be warehoused will have to be scrapped and sent to a recycler at a cost of $50 a unit. The recycler will dispose of the units in an environmentally friendly manner. The workers employed during a month, working 8 hours a day as regular time labor, produce exactly the gross demand in the previous month. For example, the regular time labor…