If the production required for a particular month is 2100, labor hours required per unit is 4, and the number of working days per month is 22, calculate the number of workers required as per the Chase production plan.
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Customary Pricing
There are various types of pricing strategies followed in the market. They are psychological pricing, odd pricing, free onboard pricing, customary pricing, prestige pricing, dual pricing, ruling pricing, negotiated pricing, mark up pricing, etc. each one can be explained as follows:
Multiple Unit Pricing
“Multiple-unit pricing is a practice where a company offers consumers a lower than unit price if a specified number of units are purchased.”
If the production required for a particular month is 2100, labor hours required per unit is 4, and the number of working days per month is 22, calculate the number of workers required as per the Chase production plan.
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- Manufacturing Aggregate Planning Manufacturers Inc. (MI) currently has a labor force of 10, which can produce 600 units per period. The labor cost is now $5000 per period per employee. The company has a long-standing rule that does not allow it to make use of any overtime. In addition, the product cannot be subcontracted, due to the specialized nature of the machinery that MI uses to produce it. As a result, MI can only increase/decrease production by hiring or laying off employees. The cost is $10000 to hire or lay off an employee. Inventory carrying costs are $200 per unit for any unsold items at the end of the period. The inventory level at the beginning of period 1 is 400 units. The forecast demand is 700 in period 1,600 in period 2,450 in period 3, 250 in period 4,500 in period 5, and 550 in period 6. a.) Compute the costs of the Chase Demand Strategy. b.) Compute the costs of the Level Strategy c.) Compare the costs of the two strategies. Which one is superior?The Big Black Bird Company (BBBC) has a large order for special plastic-lined military uniforms to be used in an urgent military operation. Working the normal two shifts of 40 hours each per week, the BBBC production process usually produces 2,500 uniforms per week at a standard cost of $120 each. Seventy employees work the first shift and 30 employees work the second. The contract price is $200 per uniform. Because of the urgent need, BBBC is authorized to use around-the-clock production, 6 days per week. When each of the two shifts works 72 hours per week, production increases to 4,000 uniforms per week but at a cost of $144 each.a. Did the multifactor productivity ratio increase, decrease, or remain the same? If it changed, by what percentage did t change?b. Did the labor productivity ratio increase, decrease, or remain the same? If it changed, by what percentage did it change?c. Did weekly profits increase, decrease, or remain the same?Manufacturing Company uses FIFO method of accumulating costs in a two-department process. Materials are introduced at the inception of the process except for a special material which is added in department 2 at 60% completion as to overhead. Inspection is done at the end of the process in both departments. Production data for Department 2 are given below: In process, beginning, (80% labor, 70% overhead)2,000 Transferred in 14,900 In process, ending (40% labor, 20% overhead) 3,000 Normal spoilage 200 Abnormal spoilage (found at 30% completion as to laborand 15% as to overhead due to internal failure) 400 Cost data for the month:In process beginning:Transferred in 15,020 Special materials 1,900 Direct labor 4,388 Overhead 11,044 Current costs:Transferred in 137,080 Special materials 14,030 Direct labor 46,000 Overhead 113,564 The cost of units transferred to finished goods is?The cost of spoilage charged to revenue is?
- Stackhouse Computing produces high-performance desktop computers. Labor cost data show that thecompany spent $1,000,000 for 5,000 computers produced, and each computer requires 2 technicianhours and 5 hours of direct labor. Direct labor is paid $10 per hour by the company. What is the costof 1 technician hour?In production plan 4, in May, if the units to be manufactured overtime are 100, the Labor hours required is 5 per unit, and the overtime rate is $10 per hour, what is the overtime cost for May?XYZ Company produces and sells 2 products, Lambda and Gamma, and the production process goes through two departments. Traditionally Manufacturing Overhead (M/O) cost is applied on the basis of direct labor hours (DLH); estimated M/O cost is $ 5,757,500 and the estimated DLH is $12,250 for the most recent period.The team decided to replace traditional plantwide costing system to activity-based costing system. There are 3 activity cost pools which represent 3 activity areas at the plant. Direct Labor wage rate is $ 30 per hour. Compute total cost per unit (for lambda and gamma) using activity-based approach. (round your numbers).
- A business company has the following capacity per month based on the following: 30 working days per month; 1 shift operation at 8 hours per shift; 30 minutes break per shift per employee ABC company produces bicycles and has the following Capacities per process. Frame Welding: 60 bikes per hour per machine Painting: 20 bikes per hour per worker Assembly: 50 bikes per hour per worker Inspection: 100 bikes per hour per worker What can be observed from the system if the demand for the month is 5,000 bikes?Alocal toy manufacturer is using a production line that runs 8 hours per day and produces a toy that requires a total of 7 tasks to be performed. The daily demand is 100 toys. Times of the tasks are 2.73, 2.01 201 2.13, 2.0, 2.61, 2.71 , and 2.95 minutes for A,B,C,D,E,F, and respectively. However, due to the nature of the product there are precedence rules that must be observed. Such that Task Adoes not need any predecessorsB requires task A to completed. To start task C and task Deach require task B to be completed. Task C must be completed prior to stating task E. Task F needs both task D and task Eto be completed. Finally, task G can start only once task Fis completed.Given we apply the most remaining tasks rule for balancing the assembly line with ties broken according to longest task time firstthe tasks that will be assigned to the SECOND workstation areOperation 1 Work Center A 2B 3 4 C D SE 5 Hourly Unit 70 80 100 50 60 60 Output Rate Product X is manufactured by starting with raw material and then processing it sequentially through 5 operations using work centers A to E resepectively (see diagram). The hourly rates for each machine are given in the table. What is the maximum output per hour for product X?
- Tailwind, Inc., produces high-quality but expensive training shoes for runners. The Tailwindshoe, which sells for $210, contains both gas- and liquid-filled compartments to provide morestability and better protection against knee, foot, and back injuries. Manufacturing the shoesrequires 10 separate tasks. There are 400 minutes available for manufacturing the shoes inthe plant each day. Daily demand is 60. The information for the tasks is as follows: Task Performance Time (In minutes) Task Must Follow This task A 1 ___ B 3 A C 2 B D 4 B E 1 C.D F 3 A G 2 F H 5 G I 1 E,H J 3/25 I 1. What is the theoretical minimum number of work stations required to satisfy this output rate? 2. Allocate the tasks to work stations taking into consideration the precedence requirements and usingthe LOT rule to break ties between feasible tasks.An all-wood furniture manufacturer operates 8 hours per day for 200 days per year, and has a demand of 2,000 units per day. There are four production cycles per day. Assume the following: 7,700 units produced per day, holding cost per unit is $5 per unit per year and labor rate to do line set-ups is $13 per hour. With quick set-ups, the production line must be quickly re-organized. What is the target set-up cost? Please round to two decimals and do not include a dollar sign. What is the set-up time in minutes?Tailwind, Inc., produces high-quality but expensive training shoes for runners. The Tailwind shoe, which sells for $210, contains both gas- and liquid-filled compartments to provide more stability and better protection against knee, foot, and back injuries. Manufacturing the shoes requires 10 separate tasks. There are 400 minutes available for manufacturing the shoes in the plant each day. Daily demand is 64. The information for the tasks is as follows: Task Performance Time (mins) Predecessors A 1 − B 3 A C 1 B D 4 B E 1 C, D F 3 A G 2 F H 5 G I 1 E, H J 3 I a) The efficiency of the assembly line with 5 workstations shown in the figure chosen above=(enter your response as a percentage rounded to one decimal place). b) The idle time for the assembly line per cycle =minute(s) (enter your…