Answer:A. LN, JQ, RQ
Explanation:
To know the current profitability, we need to determine the contribution margin unit by the minutes on the constraints .
a) For LN
Contribution by unit = Selling price per unit- Variable cost per unit
$ 161.88 -$116.12 = $45.76
Contribution by the minutes = Contribution by unit / Minutes on the constraint
= $45.76/ 2.60 = 17.60
B) For JQ
Contribution by unit = Selling price per unit- Variable cost per unit
$ 350.41 -$279.11 = $71.3
Contribution by the minutes = Contribution by unit / Minutes on the constraint
= $71.3/ 4.60 = 15.50
c) For RQ
Contribution by unit = Selling price per unit- Variable cost per unit
$ 446.71 -$338.71 = $108
Contribution by the minutes = Contribution by unit / Minutes on the constraint
= $108/ 7.50 = 14.40
In order of their current profitability from most profitable to least profitable, We have LN with 17.60, next JQ with 15.50 and the least RQ with 14.40
Answer: Variable ... Fixed
Explanation:
In the short run, Variable Inputs or costs are known as those which can be changed and their quantities can be varied. In this scenario, the employees that Cho's uses can be varied and so are the Variable Inputs.
Similarly, those costs that cann ot be changed or varied in the short run are rightly known as Fixed Inputs. Cho's Kitchen cannot take more than 3 ovens and also she has already signed a lease for them. These costs cannot be changed and so make the oven a Fixed Input.
It is worthy of note that in the long term, all Costs are considered Variable.
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Answer:
The answer is: 4) More frequently than not, the three objectives are compatible.
Explanation:
Toyota is famous for its Just in Time (JIT) management. They are the absolute kings of efficient supply chain management and they were able to do it by making the three objectives compatible. That doesn't mean that they all have to be dealt with at the same time and with the same intensity.
Toyota's first goal was to reduce costs and in order to reduce costs they had to increase their inventory turnover. Then they discovered that in order to keep increasing inventory turnover, they had to compress their cycle time. When they were able to compress their cycle time, their turnover increased even more and their costs were lowered. The system produces continuous feedback and their efficiency keeps increasing.
I once visited one of their factories that produces almost 500 pickup trucks per day and every single work station had available inventory for only 4 trucks; only 4 engines, 16 doors, etc. It is amazing how they do it considering that every 3 minutes one truck is fully produced.
The three objectives are not only compatible, but they are absolutely necessary for the SCM to be effective.
Answer:
profit margin = 23.33%
Explanation:
profit margin = net profit / net sales
- net profit = $2,800
- net sales = $12,000
profit margin = $2,800 / $12,000 = 0.233333 = 23.33%
The profit margin is a profitability ratio used to compare how many cents different companies are able to make from selling $1. Different companies have different sales levels, but we can group companies by industries and then compare them in order to determine which ones are more efficient at generating income. E.g. Company A sells $100 million but only makes $2 million in profits per year (PM = 2%), and it is much less efficient than Company B that sells $10 million and makes $1 in profits (PM = 10%). Company A's costs are too high compared to Company B's costs.
