8. (Tucker 3.3.16) A furniture manufacturer makes tables, chairs and sofas. The differentproducts require the following amounts of resources:Table Chair SofaWood413Upholstery4Labor3(a) In one month, the company has available 300 units of wood, 225 units of upholsteryand 350 units of labor. Find a production schedule for the month that uses all theseresources; this the exact solution to the system you found an approximate solutionto in Homework 1, Core Problem 6.(b) If the supply of wood increases by 10%, find a new production schedule that will useall the available resources.(c) Find an expression for the production schedule will use all the available resources ifthe labor supply drops by k.

Answered: 8. (Tucker 3.3.16) A furniture…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Similar questions

dt = demand Kt = ordering cost Ct = cost per item ht = holding cost per item per unit time
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
Given the following data: Inventory Holding Cost is $10/unit/month on ending inventory levels. Beginning inventory of Month 1 is 100 units. Hiring (Firing) Cost is $100 ($200) per worker. Each worker produces 10 units per month. There are 20 work persons on the payroll at the end of month 0. Month 1 2 3 4 5 6 Demand 300 300 400 300 300 400 What is the total cost of a chase strategy production plan?
how does purchasing help in reducing order cycle to achieve effieciency?
requirements over a typical six-month periöd are as 1 4 5. 6 Requirement 750 800 750 600 900 700 Produce # of Employees Hire Layoff Beginning Inventory Ending Inventory Average Inventory The current workforce level is 4 workers. Production rate is 150/worker/month. The following costs apply:Wages = $2,000/worker/month Hiring cost - $200/worker Layoff Cost = $250/worker Inventory holding cost = $1/unit/month Back ordering cost - $2/unit/month If a Level strategy is used, what is the total inventory cost, which includes inventory holding cost and back ordering cost? First, you need to determine the quantity to produce every period. 00s O O 1100 O 450 O 900 3. 2.
The following 3-part exercise is based on the Operations Management topic of Inventory Cost: Reminder: If a Q is given, use that. If not then calculate EOQ. 1) Each week you sell 18 desks. You order 51 desks at a time. Each order costs you 52 in labor to order, check in, store and pay the invoice. You sell each desk for $57 in profit. What are your annual ordering costs? 2) Each month you sell 1,106 couches. Your order couches in truckload quantities of 325 and estimate that each truck costs you $55 to unload and put away. You estimate that the storage space for one couch is worth $6.90 monthly. What is your annual holding cost? 3) Each year you consume 3,014 pounds of butter in your restaurant and pay an average of 3.27 for each pound. You estimate a pound of butter costs 8.76 per month to store in your refrigerator. You order butter in quantities of 54 pounds and estimate it costs you 6.99 to unload and…
Holding cost = $7 per unit per month Subcontracting cost = $65 per unit Regular time labor cost = $15 per hour. Each worker works 8 hours per day as regular time laborers Overtime labor cost = $19 per hour for hours above 8 hours per worker per day Hiring cost = $40 per worker Firing cost = $80 per worker Demand during the month of June = 640 units Labor hours per unit = 3 Beginning inventory in July = 150 units Please follow the outlined strategy accurately. The strategy is to fulfill the gross demand in each month, storing any excess units in a warehouse as inventory. The warehouse can only hold 300 units maximum, so any additional units that cannot be warehoused will have to be scrapped and sent to a recycler at a cost of $50 a unit. The recycler will dispose of the units in an environmentally friendly manner. The workers employed during a month, working 8 hours a day as regular time labor, produce exactly the gross demand in the previous month. For example, the regular time labor…
In the first week in the game, you received the order from stallion apparel at the beginning of the game for 800 socks and you cut 800 flow units of cotton in 1280 minutes. During the time of 1280 minutes, your work-in-process inventory within the cutting resources was 400.50. What is the flow time?
7
Calculate MPS for all periods
Exercise 2: The demand per year (D) for product X is 12,100 units. The costs of placing an order (S) are $4.50. The unit cost (C) of the item is $25.00. The maintenance cost (H) per unit per year is 30% of the item's cost. 1. Use the economic order quantity (EOQ) model to determine: *Optimal quantity to order* The expected number of orders*Optimal time between orders*The total annual cost of maintaining that optimal amountNOTE: Show calculations of how you arrived at each amount 2. Answer, what are the potential benefits of using EOQ analysis for inventory management? How can you help businesses strike a balance between inventory holding costs and ordering costs?

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