Project Management Practice ProblemBragg’s Bakery is building a new automated bakery downtown Sandusky. Here are the activities
1 answer:
Answer:
a. The normal project length is 36 weeks.
b. The critical path in this project is A-C-E-F.
c. The activity that you choose to crash first to reduce the duration of the project by one week is E because it has the least expediting cost/week amongst A, C, E, F.
d. The project length if all activities are crashed to their minimum is 23 weeks.
e. The slack for activity D is 5 weeks.
Explanation:
a) The normal length of the project = completion time of last activity = 36 weeks.
b) The criteria for critical activity:
duration of the activity
where ES = Earliest start time, EF = Earliest finish time , LC = latest completion time, LF = latest finish time ,
The suffix- i refers to the preceding node, suffix-j refers to the succeeding node.
activities satisfying above all criteria are A, C, E, F
therefore critical path is A-C-E-F.
c) To reduce the project duration by 1 week. we should choose to crash among critical activities A, C, E, F. thus we choose to crash activity E because it has the least expediting cost/week amongst A, C, E, F.
d) if we crash all the activities to their minimum, then the project length = sum of crash time of all critical activities
= [6 + 10 + 6 + 1]
= 23 weeks.
e) The slack of activity d = LS - ES = 34 - 29
= 5 weeks
The critical path is given in the diagram,
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Answer:
First find the present value of the lease. Payments are constant and fixed so this is an annuity. As it is to be paid from the beginning, it is an Annuity due.
= Annuity * Present value interest factor of annuity due, 5 years, 7%.
= 37,400 * 4.3872
= $164,081
Date Account Details Debit Credit
Dec. 31, 2019 Lease Receivable $164,081
Cost of goods sold $104,800
Sales $164,081
Inventory $104,800
Date Account Details Debit Credit
Dec. 31, 2019 Cash $37,400
Lease Receivable $37,400
