Develop a production schedule to produce the exact production requirements by varying the workforce size for the following problem.The monthly forecasts for Product X for January, February, and March are 940, 1,520, and 1,230, respectively. Safety stock policyrecommends that half of the forecast for that month be defined as safety stock. There are 22 working days in January, 19 in February,and 21 in March. Beginning inventory is 570 units.Manufacturing cost is $170 per unit, storage cost is $5 per unit per month, standard pay rate is $8 per hour, overtime rate is $12 perhour, cost of stock-out is $9 per unit per month, marginal cost of subcontracting is $8 per unit, hiring and training cost is $160 perworker, layoff cost is $260 per worker, and worker productivity is 0.1 unit per hour. Assume that you start off with 44 workers and thatthey work 8 hours per day. (Leave the cells blank, whenever zero (0) is required. Input all values as positive values. Round up"Workers Required" to the next higher whole number. Round all other answers to the nearest whole number.)JanuaryFebruaryMarchForecast9401,5201,230Safety stockBeginning inventoryNet production requiredWorkers requiredHiredLaid offActual productionEnding inventory Ending inventoryJanuaryFebruaryMarchLaborInventoryHiringLayoffTotalTotal

A Small Introduction about production Management Production management is a course of arranging,…

Answered: Develop a production schedule to…

Marketing

20th Edition

ISBN:9780357033791

Author:Pride, William M

Publisher:Pride, William M

Chapter19: Pricing Concepts

Section: Chapter Questions

Problem 6DRQ

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Demand for stereo headphones and MP3 players for joggers has caused Nina Industries to grow almost 50 percent over the past year. The number of joggers continues to expand, so Nina expects demand for headsets to also expand, because, as yet, no safety laws have been passed to prevent joggers from wearing them. Demand for the players for last year was as follows: MONTH DEMAND (UNITS) January February 4,100 4,200 March 3,900 April 4,300 May 4,900 June 4,600 July 5,200 August 4,800 September 5,300 October 5,600 November 6,200 December 5,900
The table below contains monthly (six months) demand estimates and working days per month. Month Demand Production Days JAN 1,500 20 FEB 1,200 24 MAR 1,000 25 APR 1,600 25 MAY 1,100 20 JUN 1,300 26 For the implementation of “Level” strategy, the average demand (in units/day) over the six- month planning horizon is equal to; a. 40 b. 50 c. 55 d. 75
Develop a production schedule to produce the exact production requirements by varying the workforce size for the following problem. The monthly forecasts for Product X for January, February, and March are 1,020, 1,550, and 1,220, respectively. Safety stock policy recommends that half of the forecast for that month be defined as safety stock. There are 22 working days in January, 19 in February, and 21 in March. Beginning inventory is 560 units. Manufacturing cost is $200 per unit, storage cost is $3 per unit per month, standard pay rate is $8 per hour, overtime rate is $12 per hour, cost of stockout is $10 per unit per month, hiring and training cost is $220 per worker, layoff cost is $320 per worker, and worker productivity is 0.1 unit per hour. Assume that you start off with 42 workers and that they work 8 hours per day. (Leave no cells blank - be certain to enter "0" wherever required. Input all values as positive values. Round Workers Required up to next higher whole number. Round…
Develop a production schedule to produce the exact production requirements by varying the workforce size for the following problem. Use the example in the chapter as a guide (Plan 1).The monthly forecasts for Product X for January, February, and March are 1,000, 1,500, and 1,200, respectively. Safety stock policy recommends that half of the forecast for that month be defined as safety stock. There are 22 working days on January, 19 in February, and 21 in March. The beginning inventory is 500 units.Manufacturing cost is $200 per unit, storage cost is $3 per unit per month, standard pay rate is $6 per hour, overtime rate is $9 per hour, cost of stock out is $10 per unit per month, marginal cost of subcontracting is $10 per unit, hiring and training cost is $200 per worker, layoff cost is $300 per worker, and worker productivity is 0.1 unit per hour. Assume that you start off with 50 workers and that they work 8 hours per day.
As the production planner for Xiangling Hu Products, Inc., you have been given a bill of material for a bracket that is made up of a base, 2 springs, and 4 clamps. The base is assembled from 2 clamps and 1 housing. Each clamp has 1handle and 1 casting. Each housing has 2 bearings and 2 shafts. There is no inventory on hand. c) Compute the net quantities needed if there are 25 of the base and 100 of the clamp in stock. Base: units (enter your response as a whole number). Spring: units Clamp: units Housing: units Handle units Casting: units Bearing: units Shaft: units
Demand for stereo headphones and MP3 players for joggers has caused Nina Industries to grow almost 50 percent over the past year. The number of joggers continues to expand, so Nina expects demand for headsets to also expand, because, as yet, no safety laws have been passed to prevent joggers from wearing them. Demand for the players for last year was as follows: MONTH DEMAND (UNITS) January 4,000 February 4,100 March 3,800 April 4,200 May 4,850 June 4,500 July 5,150 August 4,750 September 5,250 October 5,550 November 6,150 December 5,850 a. Using linear regression analysis, what would you estimate demand to be for each month next year? Using a spreadsheet, follow the general format in Exhibit 3.7. (picture below)(Do not round intermediate calculations. Round your answers to 2 decimal places.) Month Forecast january february march april may june july august september october november december
Demand for stereo headphones and MP3 players for joggers has caused Nina Industries to grow almost 50 percent over the past year. The number of joggers continues to expand, so Nina expects demand for headsets to also expand, because, as yet, no safety laws have been passed to prevent joggers from wearing them. Demand for the players for last year was as follows: MONTH DEMAND (UNITS) January 4,000 February 4,100 March 3,800 April 4,200 May 4,850 June 4,500 July 5,150 August 4,750 September 5,250 October 5,550 November 6,150 December 5,850 a. Using linear regression analysis, what would you estimate demand to be for each month next year? Using a spreadsheet, follow the general format in Exhibit 3.7. (picture below)(Do not round intermediate calculations. Round your answers to 2 decimal places.) Month Forecast january february march april may june july august september october november december b. To…
c. Compute and tabulate the daily demand for each month in the table below (round off to the nearest whole number). MONTH PRODUCTION DAYS DEMAND FORECAST DEMAND PER DAY JAN 2022 16 150 ? FEB 2022 16 150 ? MAR 2022 23 250 ? APR 2022 21 250 ? MAY 2022 22 400 ? JUN 2022 22 500 ? JUL 2022 21 600 ? AUG 2022 20 750 ? SEP 2022 20 450 ? OCT 2022 20 250 ? NOV 2022 16 150 ? DEC 2022 16 150 ? TOTAL ? ? d. Assuming that MPQ Limited had adopted a level strategy for the year ended 31 December 2022, compute the average daily demand for the year (round off to the nearest whole number). e. Prepare a graph showing the monthly forecasts and average daily forecast (in units per day) for MPQ Limited.
2. Demand for Quiggly Pops (QP) follows an up and down pattern over the four quarters of a year, with peaks in the spring and winter months when special promotions are held. Production is handled by a highly-skilled local workforce during a regular 40-hour week (i.e., overtime and subcontracting are not used). The company likes to zero out its inventory at the end of a year so that it can start fresh each January. QP currently uses a level production strategy, but would like to evaluate other options. Create a production plan and calculate the cost of the plan for each strategy listed below. Which plan would you recommend to QP? (a) Level production (b) Chase demand Quarter Demand Forecast 1 70,000 2 100,000 3 50,000 4 150,000 Beginning workforce 40 workers Production rate per worker 1250 units/quarter Regular production cost $10 per unit Hiring cost $500 per worker Firing cost $500 per worker Holding cost $1 per unit per quarter
As the production planner for Xiangling Hu Products, Inc., you have been given a bill of material for a bracket that is made up of a base, 2 springs, and 4 clamps. The base is assembled from 1 clamp and\ 1 housing. Each clamp has 1 handle and 2 castings.Each housing has 1 bearing and 2 shafts.There is no inventory on hand. C) Compute the net quantities needed if there are 25 of the base and 75 of the clamp in stock. (Product structure picture attached) Base = (?) units Spring = (?) units Clamp = (?) units Housing = (?) units Handle = (?) units Casting = (?) units Bearing = (?) units Shaft = (?) units
Demand for stereo headphones and music players for joggers has caused Nina Industries to grow almost 50 percent over the past year. The number of joggers continues to expand, so Nina expects demand for headsets to also expand, because, as yet, no safety laws have been passed to prevent joggers from wearing them. Demand for the players for this year was as follows: MONTH DEMAND (UNITS) January 4,150 February 4,250 March 3,950 April 4,350 May 4,950 June 4,650 July 5,250 August 4,850 September 5,350 October 5,650 November 6,250 December 5,950 a. Using linear regression analysis, what would you estimate demand to be for each month next year? Using a spreadsheet, follow the general format in Exhibit 3.8. (Do not round intermediate calculations. Round your answers to 2 decimal places.) b. To be reasonably confident of meeting demand, Nina decides to use 3 standard errors of estimate for safety. How many additional units should be held to meet this…
CVP Analysis with Income Taxes Cohen Company produces and sells socks. Variable cost is$6 per pair, and fixed costs for the year total $75,000. The selling price is $10 per pair.Required Calculate the following:1. The breakeven point in units.2. The breakeven point in sales dollars.3. The units required to make a before-tax profit of $40,000.4. The sales dollars required to make a before-tax profit of $35,000.5. The sales, in units and in dollars, required to make an after-tax profit of $25,000 given a tax rate of 30%.

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