Coach Bjourn Toulouse led the Big Red Herrings to several disappointing football seasons. Only better recruiting will return the Big Red Herrings towinning form. Because of the current state of the program, BoehringUniversity fans are unlikely to support increases in the $192 season ticket price. Improved recruitment will increase overhead costs to $30,000 per class section from the current $25,000 per class section. The university’s budget plan is to cover recruitment costs by increasing the average class size to 75 students. Labor costs will increase to $6,500 per 3-credit course. Material costs will be about $25 per student for each 3-credit course. Tuition will be $200 per semester credit, which is supplemented by state support of $100 per semester credit.a. What is the multifactor productivity ratio? Compared to the result obtained in Solved Problem 1, did productivity increase or decrease for the course process?b. If instructors work an average of 20 hours per week for 16 weeks for each 3-credit class of 75 students, what is the labor productivity ratio?
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
Coach Bjourn Toulouse led the Big Red Herrings to several disappointing football seasons. Only better recruiting will return the Big Red Herrings to
winning form. Because of the current state of the program, Boehring
University fans are unlikely to support increases in the $192 season ticket price. Improved recruitment will increase overhead costs to $30,000 per class section from the current $25,000 per class section. The university’s budget plan is to cover recruitment costs by increasing the average class size to 75 students. Labor costs will increase to $6,500 per 3-credit course. Material costs will be about $25 per student for each 3-credit course. Tuition will be $200 per semester credit, which is supplemented by state support of $100 per semester credit.
a. What is the multifactor productivity ratio? Compared to the result obtained in Solved Problem 1, did productivity increase or decrease for the course process?
b. If instructors work an average of 20 hours per week for 16 weeks for each 3-credit class of 75 students, what is the labor productivity ratio?
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