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Alex Ar [27]
3 years ago
12

Given these observed times (in minutes) for four elements of a job, determine the observed time (OT) for each element. Note: the

second element only occurs every other cycle.
Element Cycle 1 Cycle 2 Cycle 3 Cycle 4 Cycle 5 Cycle 6
1 4.1 4.0 4.6 4.1 4.1 4.1
2 - 1.5 - 2.4 - 1.4
3 3.2 3.2 3.8 3.2 3.3 3.3
4 2.7 3.0 2.7 2.8 2.8 2.8
Business
1 answer:
8090 [49]3 years ago
6 0

Answer:

Element 1 = 4.17 Observed time

Element 2 = 1.77 Observed time

Element 3 = 3.33 Observed time

Element 4 = 2.8 Observed time

Explanation:

Calculation to determine the observed time (OT) for each element

Based on the information given we have 4 Element and 6 Cycle for Element 1,3 and 4 while Element 2 has 3 cycle

First step is sum up each element cycle i.e addition of cycle 1 to cycle 6

Element Cycle 1 Cycle 2 Cycle 3 Cycle 4 Cycle 5 Cycle 6

1. 4.1 +4.0 +4.6 + 4.1 +4.1 + 4.1 = 25

2. - 1.5 - 2.4 - 1.4 =(1.5+2.4+1.4)=5.3

3. 3.2 +3.2 +3.8 +3.2+ 3.3 +3.3= 20

4. 2.7 +3.0 +2.7 +2.8 +2.8+ 2.8 = 16.8

Now let find the Observed time by dividing the figure that was sum up for each of the element by the numbers of cycle that each element has.

OBSERVED TIME

Element Cycle 1 Cycle 2 Cycle 3 Cycle 4 Cycle 5 Cycle 6

1. 4.1 +4.0 +4.6 + 4.1 +4.1 + 4.1 = 25/6= 4.17 Observed time

2. - 1.5 - 2.4 - 1.4 =(1.5+2.4+1.4)=5.3/3=1.77 Observed time

3. 3.2 +3.2 +3.8 +3.2+ 3.3 +3.3= 20/6= 3.33 Observed time

4. 2.7 +3.0 +2.7 +2.8 +2.8+ 2.8 = 16.8/6=2.8 Observed time

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Answer:

1. Material Variances

Material Price Variance = $3,000 F

Material Quantity Variance = $4,000 U

2. Labor Variances

Labor Rate Variance = $1,425 U

Labor Efficiency Variance = $900 F

Explanation:

Provided information we have,

Direct Materials

Standard Quantity = 4.6 pounds

Standard Rate = $2.50 per pound

Direct Labor

Standard Hours = 0.2 hour per unit

Standard Rate = $18 per hour

Actual Materials

Actual Quantity = 20,000 pounds

Actual Rate = $2.35 per pound

Actual Labor

Labor Hours = 750 hours

Labor Cost = $14,925

Labor rate = \frac{14,925}{750} = $19.9 per hour

Actual Units produced = 4,000

1. Material Variances

Material\ Price\ Variance = (Standard\ Price - Actual\ Price) \times Actual\ Units

= ($2.50 - $2.35) \times 20,000 pounds

= $3,000

As the actual rate is less than standard rate the variance is favorable.

Material\:Quantity\ Variance = (Standard\ Quantity - Actual\ Quantity) \times Standard\ Rate

Standard Quantity = 4,000 \times 4.6 = 18,400 pounds

Material Quantity Variance = (18,400 - 20,000) \times $2.50

= - $4,000

As the actual raw material quantity used is higher than standard raw material quantity the variance is unfavorable.

2. Labor Variances

Labor\ Rate\ Variance = (Standard\ Rate - Actual\ Rate) \times Actual\ Hours

= ($18 - $19.9) \times 750 = - $1,425

As actual rate is higher than standard rate thus the variance is unfavorable.

Labor\ Efficiency\ Variance = (Standard\ Hours - Actual\ Hours) \times Standard\ Rate

Standard Hours = 4,000 \times 0.2 = 800

Labor Efficiency Variance = (800 - 750) \times $18

= $900

As the Standard Hours is more than Actual Hours the variance is favorable.

1. Material Variances

Material Price Variance = $3,000 F

Material Quantity Variance = $4,000 U

2. Labor Variances

Labor Rate Variance = $1,425 U

Labor Efficiency Variance = $900 F

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3 years ago
If brazil gives up 3 automobiles for each ton of coffee it produces, while peru gives up 7 automobiles for each ton of coffee it
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If brazil gives up 3 automobiles for each ton of coffee it produces, while peru gives up 7 automobiles for each ton of coffee it produces, then Brazil should focus on producing coffee because it has a competitive edge in this area.

What does Brazil have a comparative advantage in?

  • Brazil is rich in minerals, especially iron ore, but it also has oil and other basic materials. Although technically speaking they are economic rents rather than comparative advantages, they nonetheless exist and the majority of other nations do not.
  • In terms of actual comparative advantage, it is the low-cost producer of a number of agricultural items, most notably sugar, where Brazil is unquestionably the global heavyweight, but also soy, cotton, coffee, and other crops, as well as beef, poultry, and other protein.
  • Brazil's issue is not its producing side. In general, they are effective producers. It relates to infrastructure. Usually, the top three producers of most commodities are the US and Brazil.

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Your supermarket is trying to determine how many meatloaf dinners should be produced on Monday. The Monday demand for meatloaf d
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Answer:

The recommended production quantity is that which maximizes profit.

<em>Quantity 130</em>

<em />

Explanation:

Quantity to produce is the problem here. Remember that this is one of the fundamental questions in the discipline of Economics.

- What to produce?     - For whom to produce?

- How to produce?      - In what quantity?

Possible Production Quantities:

100,  110,  120, and 130

Mean Demand = 100

Standard Deviation = 20

Lowest possible demand = 100 - 20 = 80units

Highest possible demand = 100 + 20 = 120units

<u>* Solve, using the mean demand for each quantity level. Assume also that on every Monday, the minimum possible quantity is what is purchased. That's the safest assumption anyway.</u>

<u />

FOR QUANTITY 100,

Revenue = 7×100 = $700      Direct cost = 2×100 = $200

Indirect cost = 0.6×20 = $12          Total cost = 200 + 12 = $212

PROFIT = 700 - 212 = $488

FOR QUANTITY 110,

Revenue = 7×110 = $770        Direct cost = 2×110 = $220

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PROFIT = 770 - 238 = $532

FOR QUANTITY 120,

Revenue = 7×120 = $840        Direct cost = 2×120 = $240

Indirect cost = 0.6×40 = $24           Total cost = $264

PROFIT = 840 - 264 = $576

FOR QUANTITY 130,

Revenue = 7×130 = $910          Direct cost = 2×130 = $260

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PROFIT = 910 - 290 = $620

<em>Remember, the base assumption is that only the minimum quantity of 80units is bought each Monday. This is the only way to account for wastage; which costs 0.6 dollar per unit. So, the more the quantity produced, the greater the likelihood of wastage.</em>

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Aleksandr [31]

Answer:

The remaining part of the question is:

Which of the following statements are TRUE?

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