Wilson Publishing Company produces books for the retail market. Demand for a current book is expected to occur at a constant annual rate of 7,400 copies. The cost of one copy of the book is $13. The holding cost is based on an 15% annual rate, and production setup costs are $140 per setup. The equipment on which the book is produced has an annual production volume of 26,500 copies. Wilson has 250 working days per year, and the lead time for a production run is 15 days. Use the production lot size model to compute the following values: I need help from 4 to 7 please Minimum cost production lot size. Round your answer to the nearest whole number. Do not round intermediate values. Q* = 1214 Number of production runs per year. Round your answer to two decimal places. Do not round intermediate values. Number of production runs per year = 6.09 Cycle time. Round your answer to two decimal places. Do not round intermediate values. T = 41.01 Length of a production run. Round your answer to two decimal places. Do not round intermediate values. Production run length = fill in the blank 4 days Maximum inventory. Round your answer to the nearest whole number. Do not round intermediate values. Maximum inventory = fill in the blank 5 Total annual cost. Round your answer to the nearest dollar. Do not round intermediate values. Total annual cost = $ fill in the blank 6 Reorder point. Round your answer to the nearest whole number. Do not round intermediate values.
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.
Wilson Publishing Company produces books for the retail market. Demand for a current book is expected to occur at a constant annual rate of 7,400 copies. The cost of one copy of the book is $13. The holding cost is based on an 15% annual rate, and production setup costs are $140 per setup. The equipment on which the book is produced has an annual production volume of 26,500 copies. Wilson has 250 working days per year, and the lead time for a production run is 15 days. Use the production lot size model to compute the following values:
I need help from 4 to 7 please
- Minimum cost production lot size. Round your answer to the nearest whole number. Do not round intermediate values.
Q* = 1214 - Number of production runs per year. Round your answer to two decimal places. Do not round intermediate values.
Number of production runs per year = 6.09 - Cycle time. Round your answer to two decimal places. Do not round intermediate values.
T = 41.01 - Length of a production run. Round your answer to two decimal places. Do not round intermediate values.
Production run length = fill in the blank 4 days - Maximum inventory. Round your answer to the nearest whole number. Do not round intermediate values.
Maximum inventory = fill in the blank 5 - Total annual cost. Round your answer to the nearest dollar. Do not round intermediate values.
Total annual cost = $ fill in the blank 6 - Reorder point. Round your answer to the nearest whole number. Do not round intermediate values.
r = fill in the blank 7
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