The production planner of a company forecasts the sales over the next four months as 2000, 1400, 1100, and 800 units, respectively. During a 60-day period when there were 40 workers, the company produced 15000 units. Assume that the numbers of workdays over the four months are 21, 22, 20, and 18, respectively. There are currently 12 workers employed, and there is no beginning inventory. The unit costs are given as follows: Inventory holding cost is 0.40 TL per unit per month; hiring cost is 140 TL per worker, and firing cost is 110 TL per worker. The planner solves the mathematical model of this problem. The optimal solution gives the following results, where W; is the workforce level in period t W2 W3 W4 15.24 10.18 8.80 8.80 By rounding the values of the workforce levels up, what is the total cost (in TL) of the resulting plan? O a 1558 Ob. 1730 Oc. 1166 Od. 1422 O e. 892
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- The Tinkan Company produces one-pound cans for the Canadian salmon industry. Each year the salmon spawn during a 24-hour period and must be canned immediately. Tinkan has the following agreement with the salmon industry. The company can deliver as many cans as it chooses. Then the salmon are caught. For each can by which Tinkan falls short of the salmon industrys needs, the company pays the industry a 2 penalty. Cans cost Tinkan 1 to produce and are sold by Tinkan for 2 per can. If any cans are left over, they are returned to Tinkan and the company reimburses the industry 2 for each extra can. These extra cans are put in storage for next year. Each year a can is held in storage, a carrying cost equal to 20% of the cans production cost is incurred. It is well known that the number of salmon harvested during a year is strongly related to the number of salmon harvested the previous year. In fact, using past data, Tinkan estimates that the harvest size in year t, Ht (measured in the number of cans required), is related to the harvest size in the previous year, Ht1, by the equation Ht = Ht1et where et is normally distributed with mean 1.02 and standard deviation 0.10. Tinkan plans to use the following production strategy. For some value of x, it produces enough cans at the beginning of year t to bring its inventory up to x+Ht, where Ht is the predicted harvest size in year t. Then it delivers these cans to the salmon industry. For example, if it uses x = 100,000, the predicted harvest size is 500,000 cans, and 80,000 cans are already in inventory, then Tinkan produces and delivers 520,000 cans. Given that the harvest size for the previous year was 550,000 cans, use simulation to help Tinkan develop a production strategy that maximizes its expected profit over the next 20 years. Assume that the company begins year 1 with an initial inventory of 300,000 cans.Assume the demand for a companys drug Wozac during the current year is 50,000, and assume demand will grow at 5% a year. If the company builds a plant that can produce x units of Wozac per year, it will cost 16x. Each unit of Wozac is sold for 3. Each unit of Wozac produced incurs a variable production cost of 0.20. It costs 0.40 per year to operate a unit of capacity. Determine how large a Wozac plant the company should build to maximize its expected profit over the next 10 years.Because of its labor contract, a company must hire enough labor for 100 units ofproduction per week on one shift or 200 units per week on two shifts. It cannot hire,lay off, or assign overtime. During the fourth week, workers will be available fromanother department to work part or all of an extra shift (up to 100 units). There is aplanned shutdown for maintenance in the second week, which will cut production tohalf. Develop a production plan. The opening inventory is 200 units, and the desiredending inventory is 300 units
- A company has the following demand data for the last three years of sales for their popular product B. There are currently 5 workers assigned to the production line, each capable of producing approximately 8 units per month. It is assumed that each month has the same number of production days. They can hire more workers at a hiring and training cost of $800 per worker. If they layoff any workers, the unemployment cost is $2,000 per worker. The product has a standard production cost (labor, material, and overhead) of $300 per unit. The extra cost to produce one unit on overtime is $50 and the maximum overtime is two units per month per worker. They can use inventory but it will cost them $25 per unit per month for any unit in inventory at the end of the month. Failure to meet market demand typically will imply the customer will buy from another supplier, and therefore cost the company $100 in profit. They currently have 0 units in inventory. a. Use the demand data to develop a forecast…Gunes Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 800 units. The costs and percentage completion of these units in beginning inventory were: Cost PercentCompleteMaterials costs $ 10,600 65% Conversion costs $ 12,800 30% A total of 8,500 units were started and 7,400 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: CostMaterials costs $ 142,100 Conversion costs $ 359,500 The ending inventory was 50% complete with respect to materials and 35% complete with respect to conversion costs. The cost per equivalent unit for conversion costs for the first department for the month is closest to:$44.58$46.16$40.03$48.47Production and Materials Purchases Budgets White Corporation’s budget calls for the following sales for next year:Quarter 1 90,000 units Quarter 3 68,000 unitsQuarter 2 76,000 units Quarter 4 96,000 unitsEach unit of the product requires 3 pounds of direct materials. The company’s policy is to begineach quarter with an inventory of product equal to 5% of that quarter’s estimated sales requirementsand an inventory of direct materials equal to 20% of that quarter’s estimated direct materials requirements for production.Required Determine the production and materials purchases budgets for the second quarter.
- The process of determining the production capacity required to meet demand is called Demand Forecasting Capacity Planning Resource Planning) The following data have been prepared for master production scheduling purposes in IKEA Australia: End product A: Beginning inventory of 60, Period forecast of 10, Lot size of 30, and 30 hours in lot size. End product B: Beginning inventory of 20, Period forecast of 5, Lot size of 20, and 20 hours in lot size. End product C: Beginning inventory of 30, Period forecast of 15, Lot size of 50, and 50 hours in lot size. Capacity: 38 hours/ week (i) Prepare the master production schedule for these items during the next four periods using the Ethan Allen master production scheduling method. (ii) Suppose that the master production schedule is frozen for the next three periods. What specific impact would the policy have on the IKEA's performance?The management of Swift Company has determined the aggregated demand schedule in the following units: Month Demand Jan 650 Feb 930 Mar 1110 Apr 1550 May 2120 Jun 3130 Jul 2870 Aug 1690 Sept 1530 Oct 1610 Nov 2110 Des 1330 Each worker can produce an average of 10 units per month and is paid $2,000 (payroll costs) at regular time per month. If workers go home early (undertime) they are paid the same as normal time (regular time). In accordance with the employment contract with the union, the company does not impose overtime hours and sub-contracts work. companies can recruit and train (hire & train) new workers for a fee of $2,000 and lay off per person for $ 500. Inventory cost $ 32 per unit at the end of each month. Currently the company employs 140 workers, to anticipate inventory is 0 then: Make a production plan using the workforce level to anticipate inventory by choosing an additional supply…
- In this problem we have a company's aggregate production planning activities: Quarter Demand Forecast 1 41,500 2 45,000 3 25,000 4 62,500 Beginning Workforce = 87 workers Production per Employee = 500 units per quarter Hiring Cost = $850 per worker Firing Cost = $1,600 per worker Inventory Carrying Cost = $8 per unit per quarter Regular Production cost = $ 4 per unit If a Level Production strategy is used, the annual inventory cost is: 14000 69000 168000 O 172000A firm produces three products , A , B and C , for sale both in the domestic market and in the export market and for sale to other firms . Last year domestic sales were , respectively ,50 , 60 and 80 . Exportssales were 25 , 40 and 20 . Sales to other firms were 10 , 20 and 30 . All figures are in units of thousands .This year domestic sales are expected to increase by 5% and exports sales by 10% . Sales to other firmsare expected to remain the same . The firm offers the products at the same price in all three markets Prices are currently $ 3 , $ 4 and $ 5 . Production costs for the three products are $ 2 , $ 3 and $ 4 . Find the projected profit of product A , product B and product C for this year , respectively treat the questions as products ,not fucus on product names A . ( 190 , 85 , 60) B . ( 199.5 , 93.5 , 60 ) C . ( 27.5 , 44 , 55 ) D . ( 52.5 , 63 , 84 )A company blends and bottles an energy drink in various flavors for college students. The aggregate forecast for the next four quarters (1 year) in thousands of gallons is as follows: Quarter Demand forecast per 1000 gallons 1 4002 7003 8504 650Each employee works 550 standard straight-time hours each quarter. On average, it takes 27 hours to produce and package 1 unit (1,000 gallons). Straight-time labor costs $6.00/hour; overtime labor costs $9.00/hour. Inventory holding cost is approximately $4.50/unit (1,000 gallons) per quarter, based on ending inventory per quarter. Due to the extremely hot weather, there is no initial inventory on hand to start the first quarter. Management wants a constant workforce (no hiring and no layoffs). Managers have also decided to always round the number of employees needed to the next integer, i.e., 37.2 yields 38 employees. Using a level strategy program, what will the annual labor cost be if only 30 employees are available and overtime is used?