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Brrunno [24]
3 years ago
12

Jackson Fabricators Inc. machines metal parts for the automotive industry. Under the traditional manufacturing approach, the par

ts are machined through two processes: milling and finishing. Parts are produced in batch sizes of 50 parts. A part requires 2 minutes in milling and 6 minutes in finishing. The move time between the two operations for a complete batch is 7 minutes. Under the lean philosophy, the part is produced in a cell that includes both the milling and finishing operations. The operating time is unchanged; however, the batch size is reduced to 6 parts and the move time is eliminated. Determine the value-added, non-value-added, and total lead times, and the value-added ratio under the traditional and lean manufacturing methods. If required, round percentages to one decimal place.
Business
1 answer:
Soloha48 [4]3 years ago
5 0

Answer and Explanation:

The computation is shown below:-

<u>Particulars </u>               Traditional Philosophy     Manufacturing

                                         <u> Lean                        Philosophy</u>

Value added                 2 + 6 = 8                                 8

Non value added        8 × (50 - 1) = 392                   8 × (6 - 1) = 40

Total lead time                   400                                  48

Value-added ratio

(as a percent)              8 ÷ 400 × 100 = 2%                 8 ÷ 48 × 100 = 16.17%

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Question:

The question is incomplete. See the complete question below and the graph.

You are given the following data;

Cost = C = $12,000.00

w = $100.00 per unit of labor

r = $100.00 per unit of capital

These data are used to construct the isocost line (C) in the diagram to the right. Suppose the wage increases to $200.00 but that the firm chooses to keep using the same amount of labor and capital to produce 200 units of output. Given this new set of factor prices (w'=$200.00, r = $100.00), how much have costs changed if the set of input choices remains at point A? Enter a numeric response using a real number rounded to two decimal places.)

Answer:

Cost change = $6,000

Explanation:

Given Data:

Cost = C = $12,000.00

w = $100.00 per unit of labor

r = $100.00 per unit of capital

Calculating the cost incurred  at point A using the equation of iso-costline C¹, we have;

C = wl + rk

where;

C = total cost

w = price of labor = $100

l =  labor = 60 unit from the graph

k = capital = 60 unit from the graph

r = price of capital = $100

Substituting into the formula, we have

C = wl + rk

  = 100*60 + 100*60

  = 6000+6000

  = $12,000

For increase in wages(w= $200, r = $100) with same amount of labor and capital, the cost incurred becomes;

C = wl + rk

   = 200*60+100*60

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  = $18,000

Therefore,

Cost change = 18000-12000

                    = $6,000

See the attached graph.

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3 years ago
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Frankie's Chocolate Co. reports the following information from its sales budget: Expected Sales: July $ 90,000 August 110,000 Se
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Answer:

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