Explain how we determine the optimal time to replace an existing asset with a new one.
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Explain how we determine the optimal time to replace an existing asset with a new one.
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- A line of furniture is made by the Drazal Company in South Carolina and is being considered for outsourcing to China. The unit manufacturing costs in the U.S. are:Unit Cost of Goods SoldDirect labor 53Materials 122Overhead 49Total 224When produced in China, direct labor will be 60 percent of the U.S. cost and overhead will also be 60 percent of the U.S. cost, since it consists mostly of salaries. Materialscosts will be 10 percent lower in China. Transporting the furniture from China will cost $27,000 for seven containersto transport the annual supply of 500 units from the factory in China to the Drazal warehouse in the U.S. by rail, truck, and sea. To ensure quality, it will cost $12,000 per year to mmonitor the supplier and inspect the units in China before they are sent. The cost of administering the contract is $5,000 per year.a. What are the total costs of supplying this product from China?b. What risks are associated with the Chinese supplier?c. Should the product be outsourced to…Required information Research Triangle Software Innovations is a software solutions company specializing in enterprise resource planning (ERP) business management software. Located in the Research Triangle Park, North Carolina, high-tech area, Research Triangle Software Innovations is a leader in ERP software. Oak Manufacturing is located in Raleigh, North Carolina. Oak is a publicly owned company that produces oak barrels for flavoring and storage of wine products. As the largest company of its kind in the Southeast, Oak Manufacturing serves all 50 states and other parts of North America. Tar & Heel, LLP, is a mid-sized professional services firm in Durham, North Carolina. It provides audit, assurance, and advisory services to clients, many of whom are in the Research Triangle area. The firm audits the financial statements of Oak Manufacturing and was just contacted by the client to assist in selecting and implementing an ERP system so the company can improve its collection,…The distribution of daily demand for party cakes at a bakery is shown in the following table: Relative Frequency Demand 0.05 10 0.03 22 0.05 37 0.06 45 0.03 53 0.39 61 0.19 88 0.2 111 Determine the optimal number of cakes to make each day if labour and material are estimated to cost $26.985 per unit. Cakes are sold for $38.55 per unit, and leftover cakes at the end of the day are sold next day at half price. O a. 45 O b. 88 Oc. 61 O d. 111 O e. 53
- create an asset allocation sheet from the information above.How can the Ansoff Matrix be used to analyse the airline industry?Southland Corporation's decision to produce a new line of recreational products has resulted in the need to choose one of two automated manufacturing systems based on proposals from two vendors, A and B. The economics of this decision depends on the market reaction to the new product line. The possible long-run demand has been defined as low, medium, or high. Based on detailed financial analyses of system costs as a function of volume and sales under each demand scenario, the following payoff table gives the projected profits in millions of dollars. Long-Run Demand Decision Low Medium High Vendor A $70 $140 $490 Vendor B $110 $140 $140 Determine the best decisions using the maximax, maximin, and opportunity loss decision criteria. Using the maximax criterion, choose . Using the maximin criterion, choose . To minimize the maximum opportunity loss, choose . Assume that the best estimate of the probability of low long-run demand is 0.20, of medium long-run…
- Ana Chavarria, front office manager at The Times Hotel, has completed a yield management seminar at Keystone University and is preparing an argument to adopt this concept at The Times Hotel to present to Margaret Chu, general manager. She begins by com- piling a history of room occupancy and ADRs, which she hopes will reveal areas in which yield management could help. She prepares an electronic spreadsheet that lists rooms sold with corresponding room rates and correlates the data to tourism activities in the area. Ana sends an analysis of revenue realized and revenue potential to Ms. Chu for review prior to their discussion. After reviewing the analysis, Ms. Chu concludes, “This is just another scam; the industry is slow to adopt this,” and disregards the entire report. She knows that occupancy percentage, ADR, and RevPAR are all that you need to be efficient today, so why change? Ana passes Ms. Chu in the lobby, and Ms. Chu indicates her distrust of the yield management concept but…Lorraine has received a lump sum of R500 000.00 from her retirement fund. She intends to use these funds to start a student accommodation business. In order to start this business, Lorraine would need approximately R1 million, funds are needed for building the students accommodation apartments and to register with various regulatory bodies. She has to source additional funding in order to realise this dream. In the business plan, Lorraine has outlined the following:• Accommodation will be offered ONLY to students in Cape Town, Johannesburg, Mpumalanga and Polokwane.• ONLY females will be approved to reside in these houses, between the age of 18 - 35.• Marketing of the business will be done on community Radio stations only at the fourmentioned cities.• It is going to be a family business, Friends and relatives are in support of the idea but are not able to support the business financially. 4.1 Discuss ANY TWO labour legislations that applies to and will impact Lorraine’s business.…Deforrest Marine Motors manufactures engines for the speedboat racing circuit. As part of their annual planning cycle, they forecasted demand for the next four quarters. The number of available days of production and the anticipated demand are given below. Employees Production Rate Production Cost Backorder Cost Overtime Cost Overtime Limit Demand Q1 2,400 6,019,000 They also estimated many of the costs required to conduct operations planning. Some of these key figures are listed below. 30 70 units/employee/quarter Q2 2,200 $1,000/unit $200/unit/quarter $1,500/unit <= 25% of Reg. Production Q3 1,700 Q4 1,800 Hire Cost Fire Cost Subcontracting Cost Subcontracting Limit Inventory Cost Initial Inventory $1,200/employee $800/employee $1,800/unit 400 units maximum $100/unit/quarter 280 units Deforrest Marine Motors wishes to maintain the current number of employees for the entire year to follow a level strategy balanced with inventory and backorders as needed. What is the total cost of this…
- VT Company produces lawn movers and leaf blowers. The company must develop an aggregate plan given the forecast for engine demand shown in the table. The department has a regular output capacity of 150 engines per month. Regular output has a cost of RM55 per engine. The beginning inventory is zero engines. Overtime has a cost of RM80 per engine. Month 2 3 4 7 8 Total Forecast 125 135 140 120 125 125 135 135 1,040 Develop an aggregate plan that matches the forecast and compute the total cost of your plan. Regular production can be less than regular capacity. Explain your plan.The president of Hill Enterprises, Terri Hill, projects the firm's aggregate demand requirements over the next 8 months as follows: January 1,400 May February 1,500 June 2,200 2,200 March April 1,800 1,700 July August 1,700 1,500 Her operations manager is considering a new plan, which begins in January with 200 units on hand and ends with zero inventory. Stockout cost of lost sales is $100 per unit. Inventory holding cost is $25 per unit per month. Ignore any idle-time costs. The plan is called plan B. Plan B: Produce at a constant rate of 1,400 units per month, which will meet minimum demands. Then use subcontracting, with additional units at a premium price of $80 per unit. Subcontracting capacity is limited to 800 units per month. Evaluate this plan by computing the costs for January through August. In order to arrive at the costs, first compute the ending inventory and subcontracting units for each month by filling in the table below (enter your responses as whole numbers). Period…how did you get the answers to the optimal production schedule. I am going crazy over here