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marshall27 [118]
3 years ago
5

Williams Optical Inc. is considering a new lean product cell. The present manufacturing approach produces a product in four sepa

rate steps. The production batch sizes are 45 units. The process time for each step is as follows: Process Step 1 5 minutes Process Step 2 8 minutes Process Step 3 4 minutes Process Step 4 3 minutes The time required to move each batch between steps is 5 minutes. In addition, the time to move raw materials to Process Step 1 is also 5 minutes, and the time to move completed units from Process Step 4 to finished goods inventory is 5 minutes. The new lean layout will allow the company to reduce the batch sizes from 45 units to 3 units. The time required to move each batch between steps and the inventory locations will be reduced to 2 minutes. The processing time in each step will stay the same. Determine the value-added, non-value-added, and total lead times, and the value-added ratio under the present and proposed production approaches. If required, round percentages to one decimal place.
Business
1 answer:
zzz [600]3 years ago
7 0

Answer:

The value-added, non-value-added, total lead time, and the value-added ratio under the present production approaches is as follows:

value-added=20 minutes

non-value-added=905 minutes

total lead time=925 minutes

value-added ratio=2.2%

The value-added, non-value-added, total lead time, and the value-added ratio under the proposed production approaches is as follows:

value-added=20 minutes

non-value-added=50 minutes

total lead time=70 minutes

value-added ratio=28.6%

Explanation:

In order to calculate the  the value-added, non-value-added, total lead time, and the value-added ratio under the present production approaches we would have to use the following formula:

value-added=Process times, step 1 +Process times, step 2+Process times, step 3+Process times, step 4

value-added=5+8+4+3

value-added=20 minutes

non-value-added=Total within batch wait time+movie time

non-value-added=(5+8+4+3)*(45-1)+25

non-value-added=905 minutes

total lead time= value-added+ non-value-added

total lead time=20+905

total lead time=925 minutes

value-added ratio=value-added/total lead time

value-added ratio=20/925

value-added ratio=2.2%

In order to calculate the  the value-added, non-value-added, total lead time, and the value-added ratio under the proposed production approaches we would have to use the following formula:

value-added=Process times, step 1 +Process times, step 2+Process times, step 3+Process times, step 4

value-added=5+8+4+3

value-added=20 minutes

non-value-added=Total within batch wait time+movie time

non-value-added=(5+8+4+3)*(3-1)+10

non-value-added=50 minutes

total lead time= value-added+ non-value-added

total lead time=20+50

total lead time=70 minutes

value-added ratio=value-added/total lead time

value-added ratio=20/70

value-added ratio=28.6%

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The role of  Scientific management in the modern era is improving economic efficiency, especially in the labor productivity. It is a systematic approach to handle management problems. It implies scientific techniques in method of work, recruitment, selection and training of workers.

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6 0
1 year ago
Bonita Corporation had net sales of $2,409,200 and interest revenue of $38,100 during 2020. Expenses for 2020 were cost of goods
____ [38]

Answer:

net income: $ 451,010

EPS:             $           6.32 per share

Explanation:

net sales                   2,409,200

cost of good sold     (1,464,600)

gross profit:                  944,600

operating expenses:

selling expenses         (284,000)

operating income         660,600

non operating:

interest revenue              38,100

interest expense           (54,400)

non operating expense (16,300)

earning before taxes:     644,300

tax expense:  30%          193,260

net income                      451,010

shares outstanding          71,390

Earning per share: 451,010/71,390 = 6,31755

4 0
3 years ago
The owner of a personal watercraft put an ad for its sale in the paper. Her neighbor saw the ad and told her that he wanted to b
WARRIOR [948]

Answer: D. The neighbor, because obtaining financing was a condition precedent.

Explanation:

Even though it wasn't listed in the written contract, there was the condition precedent that the contract would not be binding unless funding was obtained. Condition precedent is a condition that must happen for a contract to become enforceable.

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3 years ago
In an enterprise resource planning (ERP) system, the _____ component provides information on production costs and pricing.
posledela

Answer: manufacturing

Explanation:

In an enterprise resource planning (ERP) system, the manufacturing component provides information on production costs and pricing.

Enterprise Resource Planning is the gathering and organization of business data by using an integrated software suite.

It should be noted that ERP software typically contains applications that helps in automating certain business functions such as sales quoting, production, accounting etc

5 0
3 years ago
Fields Cutlery, a manufacturer of gourmet knife sets, produced 20,000 sets and sold 23,000 units during the current year. Beginn
Andreyy89

Answer:

Net income under variable costing would be $429,000.

Explanation:

Under the variable costing method the most important point to understand here is that fixed cost of the previous period ( 3000 units in this case ) would not be carried over to current period. Which means that the fixed cost and cost of goods sold be less now and the profit will increase.

NET INCOME =

SALES                                   = $ 1035,000  ( 23,000 X 45 )

(-) COST OF GOODS SOLD  = ($ 391,000) ( 23000 X 17 )

 ( We have multiplied 23,000 units by 17 because now those fixed cost of $5 are not carried forward to this period)

GROSS CONTRIBUTION MARGIN  = $1035,000 - $391,000

                                                          = $644,000

(-)VARIABLE SELLING AND ADMINISTRATION EXPENSES = ($69,000)

 ( $115,000 X 60% )

CONTRIBUTION MARGIN = $644,000 - $69,000

                                           = $575,000

(LESS) FIXED COSTS          = ($146,000)   [ $100,000 + $46,000 ]

1) MANUFACTURING COST = 20,000 X $5

                                              = $100,000

2) SELLING AND ADMINISTRATION EXPENSES = $115,000 X 40%

                                                                                = $46,000

INCOME  = $575,000 - $146,000

                = $429,000

8 0
3 years ago
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