- cost; knowledge of the product may provide efficiency advantages over potential suppliers; A closely-related advantage of in-house production is cost control A corporation had the following assets and liabilities at the beginning and end of this year. Organizations that have standard products or services generally have smaller capacity cushions. These facilities are usually located away from end-users and connected to a network of high-voltage transmission lines. The specification for the weight of a chemical in compound is \pm 0.06. Avoids the business risks that suppliers are taking An adjustable-rate mortgage contract should specify what? 12.The weighted average of different interest rates paid on long-term borrowings is . A loan processing operation that processes an average of 2 loans per day. 4. What was the factor A system has one service facility that can service 10 customers per hour. However, many automotive manufacturing companies today use this theory. Maximum capacity refers to the upper limit of : Select one : a. supplies b. rate of output c. demand d. inventories e. finances. - control over quality. Calculate the mass, in grams, of 0.824 moles of lead. During the month the company purchased and used 600 units of this material at a price of $2.25 per unit. 1 percent. Explain how capacity utilization affects product mix and profitability. Explain the criteria for aggregate capacity planning, including a diagram. The Albert Nock Company had $210 million of sales last year, and $(A) million of fixed assets which were being operated at 0.75% of capacity. d. strategy. c. goods have a low value-to-weight ratio. Which of the following is a direct input into capacity requirements planning? What are good basic ethics strategies for an organization to be productive? In December, the factory produced 700 units. In an 11 week period, a work center produces 1050 standard hours of work. The environmental impacts of electricity generation can contribute to large-scale regional environmental concerns as well as localized concerns that affect the area directly surrounding a power plant. What are some of the pros and cons of pursuing identified community needs as part of a strategic planning process? Procuring goods and services from suppliers carries the risk of those suppliers providing the same goods and services to direct competitors, When a firm has been making goods and services in-house, and then decides to buy these goods and services from suppliers, When the firm doing the outsourcing and the supplier that will provide the outsourced goods and services are located in the same country, When the firm doing the out-sourcing and the supplier that will provide the out-sourced goods and services are located in different countries, firm only focuses on product design and outsource all other production process functions, 1. cost and efficiency Find the values for APP and MPP. Determine the net income earned or net loss incurred by the business during the year for each of the following separate cases: a. e. a company is extremely profitable. b. identifying capacity gaps. -only level of output where long-run average total co. Wymont Company produces a single product that requires a large amount of labor time. Trade policies vary greatly from country to country and also should be considered. B. revenue center. Procuring goods and services from suppliers can also carry the risk of suppliers providing those same goods and services to the competition. The hours scheduled are 80, and 72 hours are actually worked. 2. production d. 1.00. IB -- Ch. Consider the four-step serial process with processing times given in the list below. The process of assessing a company's ability to produce enough output to satisfy market demand is called capacity planning. However, its fixed assets were used at only 75% of capacity. What is the recommended production rate if a level strategy is adopted with no back orders or stockout? copyright 2003-2023 Homework.Study.com. b. To become a multinational corporation, the business must be large and must own a huge amount of assets, both physical and financial. Wrong answer is provided by testbank: When fixed costs are high, one production facility will be favored. Sample 1 Sample 2. Making components in-house also allows the company more control over deliveries Last year saw 15,000 customer orders at the mill and the manager has a new John Battle Creek Cereal Company has four main products: Corn Flakes, Frosted Flakes, Bran Flakes and Strawberry Flakes. One production facility will usually be favored when a. a company is extremely profitable. Briefly compare. a. The best time standard applied historical A computer service has a design capacity of 104 repairs per day. A cost minimizing firm has the following production function for its product. At present, your company only makes metal components. Improving . Calculate the max 1. 4. comparative advantage according to factor endowments the point at which unit costs stabilize; When demand is equal or lower than the minimum efficient scale, one production facility location is preferred. when components and raw materials are produced in-house and purchased from suppliers, - primary disadvantage of making is that it requires the company to have expertise in the production of the component or raw materials 6. No need to invest the money that is associated with making The firm is currently producing 52 units of output, marginal cost is $17, average total cost is $15 and average va, If a competitive firm is selling 1,000 units of its product at a price of $9 per unit and earning a positive profit, then: a. its total cost is less than $9,000. Fedex was originally designed to deliver time sensitive documents. 5. incur both fixed and variable costs, determining if the making will be done at one or more production facilities and if these facilities should be located in one or more countries, Considerations for Location of production facilities for components and raw materials, 1. when fixed cast are high one production facility will be favored (a) include staffing and scheduling (b) include inventory control (c) include defining product specifications (d) None of the above. process layout A facility arrangement in which work flows according to the production process. Goods with high value-to weight ratios favor a single location to use advantages of centralized production, while with low value-to-weight products it's best to have many production facilities close to the places were these components are needed, Location production facilities for Products: 3 major considerations. The tariffs prevailing in this industry are currently low. For November, the company's flexible budget for manu, Suppose that a firm's production function is : Q=4K^{1/2}L^{1/2} The cost of a unit of labor is $5 and the cost of a unit of capital is $20. e. goods have a low value-to-weight This problem has been solved! United Industries manufactures a number of products at its highly automated factory. In an economy experiencing growing production capacity: a) depreciation is greater than gross private domestic investment. Discuss the major considerations related to developing capacity alternatives. The standard quantity requ, Supose the marginal product of labor is currently equal to its average product. c. unemployment is very low. Improving supply chain operations can typically rein in "double-digit" productivity growth and reduce product cycles by 30-40%, allowing faster response to customers. What is the measured capacity of the work center? b) An incumbent firm may experience a learning curve that allows it to produce at a lower cos ABC Cleaners' washing machines have a design capacity of 2,900 pounds a day. 11.One production facility will usually be favored when a. b. demand is higher than the minimum efficient scale. The Best Beer Corporation has a beer-processing facility located in Columbus, Ohio. 1. D. profit center. Fixed assets are $420,000 and sales are projected to grow to $830,000. A. lagging capacity behind demand B. building on shared experience C. fo One production facility will usually be favored when _______. Twisted nitinol-wire eyeglass framed unbend at room temperatures. recently, the production facility has been producing A manufacturing shop is designed to operate most efficiently at an output of 860 units per day. 2- If the product must be customized for different countries, then multiple facilities will be needed. The shutdown point is when: A) A firm can no longer pay its debts. d. a company is extremely profitable. Its effective capacity however is 88 repairs per day, and its actual output is 56 repairs per day. If the price of capital is $120 per day and the price of labor is $30 per day, what is the minimum cost of producing 1000 units of output? Motor X sells for $2,500 and has an efficiency rating of 9 Amy Xia's plant is designed to produce 7,000 hammers per day but is limited to making 5,600 hammers per day because of the time needed to change equipment between styles of hammers. The rate of inflation in the economy over that year period is which of the following? Determine the utilization and the efficiency for each of these situations: A. If the cost-capacity exponent is 0.14, what would be the expected cost of a 440-MGD syst Where a firm locates would typically not affect that firm's: a. costs. Some impacts vary based on the energy resourcefor example, whether the power plant uses fossil fuel or a renewable resource. A) absorption B) break-even, 1.A profit-maximizing firm will base its decision to hire workers on the additional costs and benefits of each worker. Long-range capacity planning should be the responsibility of: a. analysts b. middle management c. top management d. marketing management. You also know that the wage rate for w, Depreciation on Abel Manufacturing Company's factory machinery is classified as which of the following? collection of computer hardware and software arranged to transmit information from one place to another, the linking of separate networks into an interconnected network, where each network retains its own identity, Enterprise resource planning (ERP) systems, software packages designed to integrate the majority of a firm's business processes, execute all transactions related to the firm's business processes being integrated, store each piece of data only once in an enterprise-wide database, allow access to data and information in real time, and operate in a client-server environment, traditional or web-based, - store all info in a single database Secure .gov websites use HTTPS What internal and external governance mechanisms are in place in microcredit? Production averages 100 units per day, while demand is 40 units per day. Which model would describe your behavior? False. During a three-day period, the bakery made 850 loaves per day. Setup cost is $200.00. the price of labor input) and r is, 1. Current sales are $640,000. - When components and raw materials involve intellectual property, making affords complete protection of the intellectual property. True or false? Most developing countries offer very competitive labor costs and availability, but many lack the infrastructure of developed countries. At present, actual output averages 200. The forecasted demand for fudge for the next four months is 220,150,110, and 70 pounds. A value equal to the capacity. C) Price is below minimum average total costs. The company has determined that it wants to have safet A firm wishes to determine the efficiency and utilization of a work center composed of 5 machines each working 16 hours per day for 5 days a week. The traditional method of product costing, where the costs of direct materials, direct labor, and factory overhead are included, is called [{Blank}] costing. Consider the following four-step assembly operation with quality problems: The first resource has a processing time of 5 minutes per unit and one employee doing the operation.
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