Deb Bishop Health and Beauty Products has developed a new shampoo and you need to develop its aggregate schedule. The cost accounting department has supplied you the cost relevant to the aggregate plan and the marketing department has provided a four-quarter forecast. the four-quarter forecast. Quarter Forecast 1 1,400 2 1,100 3 1,700 4 1,300 the costs relevant to the aggregate plan. Costs Previous quarter's output 1,600 units Beginning inventory 0 units Stockout cost for backorders $55 per unit Inventory holding cost $11 per unit for every unit held at the end of the quarter Hiring workers $50 per unit Layoff workers $75 per unit Unit cost $35 per unit Overtime $20 extra per unit Subcontracting Not available Your job is to develop an aggregate plan for the next four quarters. Part 2 a) Try hiring and layoffs (to meet the forecast) as necessary (enter your responses as whole numbers). Hiring and Layoff Plan Quarter Forecast Production Hire (Units) Layoff (Units) 1,600 1 1,400 enter your response here enter your response here enter your response here
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.
|
Quarter
|
Forecast
|
|
1
|
1,400
|
|
2
|
1,100
|
|
3
|
1,700
|
|
4
|
1,300
|
|
Costs
|
|
|
Previous quarter's output
|
1,600
units |
|
Beginning inventory
|
0
units |
|
Stockout cost for backorders
|
$55
per unit |
|
Inventory holding cost
|
$11
per unit for every unit held at the end of the quarter |
|
Hiring workers
|
$50
per unit |
|
Layoff workers
|
$75
per unit |
|
Unit cost
|
$35
per unit |
|
Overtime
|
$20
extra per unit |
|
Subcontracting
|
Not available
|
Part 2
|
Hiring and Layoff Plan
|
||||
|
Quarter
|
Forecast
|
Production
|
Hire
(Units)
|
Layoff
(Units)
|
|
|
|
1,600
|
|
|
|
1
|
1,400
|
enter your response here
|
enter your response here
|
enter your response here
|
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