Business

Illinois Furniture, Inc., produces all types of office furniture. The “Executive Secretary” is a chair that has been designed using ergonomics to provide comfort during long work hours. The chair sells for $130. There are 480 minutes available during the day, and the average daily demand has been 50 chairs. There are eight tasks: Task Performance Time Task Must Follow (mins) Task Listed Below A 4 B 6 7 A, B 6 6 D UW UI F 8 E 8 E 6 F, G This exercise only contains parts b, c, d, e, f, and g. b) The cycle time for the production of a chair = minutes (round your response to two decimal places). b) The cycle time for the production of a chair = 8.89 minutes (round your response to two decimal places). c) The theoretical minimum number of workstations = 6 (round your response up to the next whole number). d) The assignment of tasks to workstations should be: (Hint: Number workstations sequentially in terms of precedence relationships and combine any applicable tasks.) Task Workstation Number A Station 1 B Station 2 с Station 3 D Station 4 E Station 5 F Station 6 G Station 7 H Station 8 Were you able to assign all the tasks to the theoretical minimum number of workstations? No e) For this process, the total idle time per cycle = 14 minutes (enter your response as a whole number). f) The total actual idle time at all workstations over the course of an 8-hour work day for the process = minutes (round your response to two decimal places).

EXPERT ANSWER b) Cycle time = Available time / Required production = 480 / 50 = 9..60 minutes c) Sum of the task times = (4+6+7+6+6+8+8+6) = 51 minutesCycle time = 9.6 minutes So, the theoretical minimum number of stations = 51/9.6 = 5.3 i.e. 6 stations d) Task Workstation # A Station-1 B Station-2 C Station-3 D …

Illinois Furniture, Inc., produces all types of office furniture. The “Executive Secretary” is a chair that has been designed using ergonomics to provide comfort during long work hours. The chair sells for $130. There are 480 minutes available during the day, and the average daily demand has been 50 chairs. There are eight tasks: Task Performance Time Task Must Follow (mins) Task Listed Below A 4 B 6 7 A, B 6 6 D UW UI F 8 E 8 E 6 F, G This exercise only contains parts b, c, d, e, f, and g. b) The cycle time for the production of a chair = minutes (round your response to two decimal places). b) The cycle time for the production of a chair = 8.89 minutes (round your response to two decimal places). c) The theoretical minimum number of workstations = 6 (round your response up to the next whole number). d) The assignment of tasks to workstations should be: (Hint: Number workstations sequentially in terms of precedence relationships and combine any applicable tasks.) Task Workstation Number A Station 1 B Station 2 с Station 3 D Station 4 E Station 5 F Station 6 G Station 7 H Station 8 Were you able to assign all the tasks to the theoretical minimum number of workstations? No e) For this process, the total idle time per cycle = 14 minutes (enter your response as a whole number). f) The total actual idle time at all workstations over the course of an 8-hour work day for the process = minutes (round your response to two decimal places). Read More »

7-36 Comprehensive variance analysis review. Andrew Scheid Ltd manufactures kitchen cabinets. The company’s budget for fixed costs per month is $7,500 and budgeted variable costs per cabinet are: The company had budgeted to make and sell 1,000 cabinets per month at a selling price of $150 each. However, in June, the actual figures were as follows: The company had budgeted to make and sell 1,000 cabinets per month at a selling price of $150 each. However, in June, the actual figures were as follows: Calculate the following: Calculate the following: 1. Static-budget and actual operating income 2. Static-budget variance for operating income 3. Flexible-budget operating income 4. Flexible-budget variance for operating income 5. Sales-volume variance for operating income 6. Price and efficiency variances for direct manufacturing labor 7. Flexible-budget variance for direct manufacturing labor

EXPERT ANSWER Question 1 & Question 2. :Static-budget and actual operating income and and Static-budget variance for operating income Static-budget and actual operating income and Variance Static-budget Actual-June Variance 1400 Units Actual-static A Sales(1,000 Cabinets x$150) $150,000 $212,800 $62,800 Favorable Direct material (1,000 Cabinetsx$67.50) $67,500 $121,000 $53,500 Unfavorable Direct labour (1,000 Cabinetsx $30) $30,000 $34,000 …

7-36 Comprehensive variance analysis review. Andrew Scheid Ltd manufactures kitchen cabinets. The company’s budget for fixed costs per month is $7,500 and budgeted variable costs per cabinet are: The company had budgeted to make and sell 1,000 cabinets per month at a selling price of $150 each. However, in June, the actual figures were as follows: The company had budgeted to make and sell 1,000 cabinets per month at a selling price of $150 each. However, in June, the actual figures were as follows: Calculate the following: Calculate the following: 1. Static-budget and actual operating income 2. Static-budget variance for operating income 3. Flexible-budget operating income 4. Flexible-budget variance for operating income 5. Sales-volume variance for operating income 6. Price and efficiency variances for direct manufacturing labor 7. Flexible-budget variance for direct manufacturing labor Read More »

The income statement and other selected data for Frish Company follow:

The Income Statement And Other Selected Data For Frish Company Follow: Required a. Prepare a schedule of change from accrual basis to cash basis income statement. b. Using the schedule of change from accrual basis to cash basis income statement computed in (a), present the cash provided by operations, using (1) the direct approach and …

The income statement and other selected data for Frish Company follow: Read More »

No company is too big to fall or shrink (Fail or not grow) dramatically.’ Analyse this statement in reference to the present day global context.

No company is too big to fall or shrink (Fail or not grow) dramatically.’ Analyse this statement in reference to the present day global context. EXPERT ANSWER Introduction“Too large to fail” refers to a company or industry that is so firmly established in a financial sector or economic that its demise would be catastrophic. BodyAlthough …

No company is too big to fall or shrink (Fail or not grow) dramatically.’ Analyse this statement in reference to the present day global context. Read More »

According to the American Cancer Society, smoking has resulted in $96 million in health care costs from 2000 to 2014. A well-established link exists between tobacco use and cancer. Public awareness of the dangers of smoking has led to shifting cultural norms, such that smoking is increasingly viewed as negative. Cigarette smoking in the United States has been on the decline since the 1950s. However, about one out of five Americans continues to smoke cigarettes. Cigarette smoking and cancer have been strongly linked particularly for lung, oral, and throat cancer where, for both men and women, smoking has been found to account for half or more of the cancer cases in these regions of the body.

2-2 CVS CAREMARK DISCONTINUES THE SALE OF TOBACCO PRODUCTS According to the American Cancer Society, smoking has resulted in $96 million in health care costs from 2000 to 2014. A well-established link exists between tobacco use and cancer. Public awareness of the dangers of smoking has led to shifting cultural norms, such that smoking is …

According to the American Cancer Society, smoking has resulted in $96 million in health care costs from 2000 to 2014. A well-established link exists between tobacco use and cancer. Public awareness of the dangers of smoking has led to shifting cultural norms, such that smoking is increasingly viewed as negative. Cigarette smoking in the United States has been on the decline since the 1950s. However, about one out of five Americans continues to smoke cigarettes. Cigarette smoking and cancer have been strongly linked particularly for lung, oral, and throat cancer where, for both men and women, smoking has been found to account for half or more of the cancer cases in these regions of the body. Read More »

companies around the world. The last stage in the production process is to produce the jet engines and then to install them (a very fast operation) in the completed airplane frame. The company has been working under some contracts to deliver a considerable number of airplanes in the near future, and the production of the jet engines for these planes must now be scheduled for the next 4 months.

The NORTHERN AIRPLANE COMPANY builds commercial airplanes for various airline companies around the world. The last stage in the production process is to produce the jet engines and then to install them (a very fast operation) in the completed airplane frame. The company has been working under some contracts to deliver a considerable number of …

companies around the world. The last stage in the production process is to produce the jet engines and then to install them (a very fast operation) in the completed airplane frame. The company has been working under some contracts to deliver a considerable number of airplanes in the near future, and the production of the jet engines for these planes must now be scheduled for the next 4 months. Read More »

Q.4: (25 pts.) An investor is planning to start a business by producing a brand new one of a kind product, the product needs 6 different sequential processes to be produced; the annual demand on this product is expected to reach 500000 units. However, since it is a new product introduced to the market the investor is not fully sure of ultimate success of the product; i.e. the product may fail. a) What would you advise this investor to do regarding the establishment of such a business? b) Which is the most relevant automation strategy would you suggest him to follow if the aliount of demand starts to show product success? c) If the product is seen to reache ultimate success, what type of facility and layout would you suggest him to adopt? d) Based on your answer in part (d), what type of automation would you expect the facility to have? Why? e) Haw would you classify this industry in terms of process or discreet industry?

EXPERT ANSWER Que. 4 a) I would like to advise this investor to establish a new business with the many steps of setting a new business.Start with finding a good place to start producing your products and a suitable place to store than in 500000 units quantity. High demands of products need perfect strategy regarding …

Q.4: (25 pts.) An investor is planning to start a business by producing a brand new one of a kind product, the product needs 6 different sequential processes to be produced; the annual demand on this product is expected to reach 500000 units. However, since it is a new product introduced to the market the investor is not fully sure of ultimate success of the product; i.e. the product may fail. a) What would you advise this investor to do regarding the establishment of such a business? b) Which is the most relevant automation strategy would you suggest him to follow if the aliount of demand starts to show product success? c) If the product is seen to reache ultimate success, what type of facility and layout would you suggest him to adopt? d) Based on your answer in part (d), what type of automation would you expect the facility to have? Why? e) Haw would you classify this industry in terms of process or discreet industry? Read More »

Kenneth Lai is a copycat. He makes money by aping world’s most famous fashion designers and selling this apparel to the middle class segment throughout Hong Kong and he is quite successful in what he does. He comes from a poor family and dropped out of high school. He set out on his own in 1980 with $30,000 in borrowed cash. He launched the first of his retail stores that year. He has now 53 stores in Hong Kong, 9 in Singapore, 16 in Taiwan and 2 each in Malaysia and Indonesia. About the half firm’s turnover comes from the clothing business, rest from an assortment of other enterprises. About 90% of clothes are produced in China. He has currently employed nearly 30,000 workers.

CASE STUDY – How to make money in copycat business Kenneth Lai is a copycat. He makes money by aping world’s most famous fashion designers and selling this apparel to the middle class segment throughout Hong Kong and he is quite successful in what he does. He comes from a poor family and dropped out …

Kenneth Lai is a copycat. He makes money by aping world’s most famous fashion designers and selling this apparel to the middle class segment throughout Hong Kong and he is quite successful in what he does. He comes from a poor family and dropped out of high school. He set out on his own in 1980 with $30,000 in borrowed cash. He launched the first of his retail stores that year. He has now 53 stores in Hong Kong, 9 in Singapore, 16 in Taiwan and 2 each in Malaysia and Indonesia. About the half firm’s turnover comes from the clothing business, rest from an assortment of other enterprises. About 90% of clothes are produced in China. He has currently employed nearly 30,000 workers. Read More »

Drawing upon John Rawls’s concept of the veil of ignorance, develop an ethical code that will (a) guide the decisions of a large oil multinational toward environmental protection, and (b) influence the policies of a clothing company to outsourcing of manufacturing process.

Drawing upon John Rawls’s concept of the veil of ignorance, develop an ethical code that will (a) guide the decisions of a large oil multinational toward environmental protection, and (b) influence the policies of a clothing company to outsourcing of manufacturing process. EXPERT ANSWER According to John Rawls, a decision is reasonable and ethical if …

Drawing upon John Rawls’s concept of the veil of ignorance, develop an ethical code that will (a) guide the decisions of a large oil multinational toward environmental protection, and (b) influence the policies of a clothing company to outsourcing of manufacturing process. Read More »

15. A farmer has 10 hectare acres to plant in palay and corn. He has to plant at least 7 hectares. However, he has only P12000 to spend and each hectare of palay costs P2000 to plant and each hectare of corn costs P1000 to plant. Moreover, the farmer has to get the planting done in 12 hours and it takes an hour to plant an hectare of palay and 2 hours to plant an hectare of corn. If the profit is P5000 per hectare of palay and P3000 per hectare of corn, how many hectares of each should be planted to maximize profits?

EXPERT ANSWER