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Q: Explain the production process , using an example related table
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- Illustrate by means of a diagram the production concepts. Provide a brief explanation.
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- Development and Production Plan Maintaining your output level in order to meet your customers' demands is a necessary skill. As a result, the following questions must be addressed:• What quantity and how frequently should my goods be produced? (This would depend on sales turnover)• What raw material is used in production?• Is the raw material available?• Do I need anyone to assist in the production (you may want to be a bit more specific here)?• If special skills are needed, how can they be acquired and retained?• What are the total production costs?In order to estimate the cost of production you would need to do the following:• Identify all the inputs needed to produce and sell.• Calculate the cost of the production of a specific quantity that you can manage.• Identify production inputs under the following headings:Fixed cost: Costs that will be incurred regardless of the level of production.Variable Costs: Costs that are directly related to the level of production. The more goods…The following information has been extracted from the cost information system of Kevianmanufacturers ltd for the last 12 weeks in the year ended 31st December 2020 Required:a) Using the high-low cost estimation method develop a cost estimation function for Production department Overhead Cost using the Machine hours as the activity level. b) The actual Production Department Overhead Cost in week 12 from above is 963,000. Using the machine hours of 48, direct labour hours of 38 from week 12 explain which of the two cost functions developed above is more accurate. c)Calculate and interpret the coefficient of Determination (R^2) using the cost estimation function derived using the Machine hours as the activity level.Explain the production process , using an example related table
- Describe the four basic types of production processes.What are the advantages and disadvantages of each? Whenshould each be used?In developing an operations and supply strategy, which one of the following would be an important product-specific criteria to consider? Select one: а. Focused factory b. Production lot-size c. Supplier after-sale support d. Learning curve e. Total quality managementGive the relevant example and explain the important framework for managing operation used by production firm?
- Briefly describe the term production/operation management.Company A recently completed and sold an order of 50 units that had the following costs: Direct materials Direct labor* (1000 hours @ P8.50) |Variable overhead (1000 hours @ P4.00) Other overhead costs** Total 1500 8500 4000 1400 15400 | *Applied on the basis of direct labor hous **Applied at the rate of 10% of variable cost The company has now been requested to prepare a bid for 150 units of the same product. If an 80% incremental unit-time learning curve is applicable, Company A's total cost on this order would be estimated atSelect a business with which you are familiar, and identify examples of order qualifiers and winners. You might also research the businesses on the Internet or visit the library.
- Explain the term Rack jobbers?Identify and describe the primary, support, and general management processes needed to execute a customer order at Zappos.Marry has asked you, a business consultant, for advice when it comes to his operations, particularly, his food costing. What would you consider recommending? You can also refer to other companies or other theories.