Gold Land Pvt. Ltd. is a wheat producing company. Daily 5000 bags of wheat weighing10 kg each are produced here. In comparison to the previous year this ere has been lessnumber of bags produced on a per day basis. The number is around 4500 which is lessthan the target of 5000 set by the company. The company however has been able toreduce the costs involved in comparison to last year's spending on the production andpackaging of each bag. The quality of bags has also been up to the mark.Identify the concept of management ignored here.

Planning, organizing, coordinating, and controlling resources, such as people, materials, and…

Answered: Gold Land Pvt. Ltd. is a wheat…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Vicki’s Shop is a famous bakery in Chicago. Its reputation for quality and service is well-knownamong locals and people in the nearby areas. “We pride ourselves on quality” said Vicki, theowner, who makes sure that all products are made in the morning just before the store opensevery day so they will be fresh when customers arrive. To live up to its freshness reputation, anyunsold boxes will be discarded at the end of the day. “Also, we always have products available toensure every customer leaves the store happy”, she added.A box of Vicki’s most popular doughnuts sells for $20. The cost of making one box is $6 anddemand is estimated to be normally distributed with a mean of 25 and a standard deviation of5.5. Suppose Vicki’s Shop uses an inventory model to determine its optimal stocking level forthis product, and you observe that it always makes 28 boxes of doughnut every morning.Part A: What can be said about the goodwill cost? Provide a complete analysis to support youranswer.Part B:…
As the Quality Manager of a Food and Beverage Company, you have been asked to present a review of Quality Costs to the Managing Director as summarized Table 1 Table 1: The data collection of the quality costs for a precision company. Activities Activities Cost (RM) Cost (RM) 44,000 12,000 15,000 10,800 35,000 Machine maintenance Customer return Supplier training Food testing Incoming inspection Manufacturing tools Sorting at customer site Scrap Production visual inspection Finished-good inspection 18,000 10,000 2,500 10,500 18,000 (a) Summarized the total costs according to the type of quality cost (Prevention Costs, Appraisal Costs, Internal Failure Costs, and External Failure Costs). (b) Calculate the percentage of Prevention Costs, Appraisal Costs, Internal Failure Costs, and External Failure Costs. (c) Discuss your findings from obtained results of question (a) and (b).
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Some important concepts to promote quality (due to Deming) are a. build long term relationships with suppliers, vendors, and customers. b. continuously improve product, quality, and service. c. institute a vigorous program of training, education, and self-improvement. d. all of these. e. none of these.
Wellplace Insurance Company processes insurance policy applications in batches of 100. One day, they had eleven batches to process and, after inspection, it was found that four batches had nonconforming policies. One batch had seven nonconformances, another had two, another had one, and another had five nonconformance. a. What was the proportion nonconforming for each batch? Round your answers to two decimal places. The proportion nonconforming for the first batch: The proportion nonconforming for the second batch: The proportion nonconforming for the third batch: The proportion nonconforming for the fourth batch: b. What was the nonconformance per unit (NPU) in total for the eleven batches? Round your answer to three decimal places. Total nonconformances per unit for all batches:
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Racks Company has developed the following standards for one of its products: Direct materials 12 kilograms @ $14 per kg Direct labour 3 hours @ $18 per hour Variable overhead 3 hours @ $ 8 per hour The following activities occurred during the month of October: Materials purchased 10,000 kilograms at $13.60 per kg Materials used 9,000 kilograms Units produced 800 units Direct labour 2,500 hours at $19.00 per hour Actual variable overhead $22,000 The company records materials price variances at the time of purchase. Racks Company's materials price variance would be Racks Company's materials usage variance would be Racks Company's labour rate variance would be Racks Company's labour efficiency variance would be Who would NOT be responsible for an unfavourable material usage variance caused by poor quality material?
The production line that is experiencing problems produces a large quantity of food. Even a short amount of time outside of optimal operating conditions can result in substantial waste. What would be the best quality tool to use in order to ensure the line is working within established limits and why? There appears to be a variety of issues that can result in quality costs for this particular food product for Supremo. As mentioned in the list of quality costs, defects are occurring in a variety of areas – materials, processing, and personnel. In order to identify the factors directly influencing the quality of the product, what would be the best quality tool and why? One of the technicians has a theory that the ambient temperature of the facility is correlated to product quality. What quality tool could you use to test this theory and why? Another technician believes that the relationships among several variables are complex and require multiple comparisons. She believes that…
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