You are an experienced machinist with a small tool shop. You have been askedto submit a bid to produce 12 special clamps for a new die that is underconstruction. You estimate that the material costs (metal and fasteners) foreach clamp are $150.00. You also estimate that 10.65 labor hours are neededto produce the first clamp. The value of your labor is $50/hour.From similar orders in the past, you estimate that there is a 90% learning curvefor this type of work. Using this information, what is the lowest total bid(cumulative price for 12 clamps) you should submit if you charge a 25%markup on material and you wish to recoup your labor costs?Hint: set up formulas in Excel (see Moodle video). This is a long problem.Round your answer to 2 decimal places and DO NOT include the $ sign or acomma. For example, answer 4567.89 and NOT $4,567.89Answer:Check

Find the Calculation methods below: Required time (Tn) = T1nbn - Unit numberT1 - Time Taken for…

Answered: You are an experienced machinist with a…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Create two (2) Job Safety Analysis on a specific job task from your place of business or your world outside of business. Example: Job = Warehouse Worker Job Task = unloading a semi-truck parked at your dock doors Job Task = shrink-wrapping a pallet Job Task = pulling raw material from inventory The focus of the JSA is to be demonstrate your understanding of how a JSA is developed and documented.
One of the risks that might occur from weaknesses in requirement procedures is creeping user requirements. What steps may be taken to lessen this risk?
BMW announced the implementation of their new ‘iFactory’ strategy - A single production line can create many drive types and vehicle models because of the company’s flexible production structures. Therefore, they can quickly respond to fluctuations in demand Therefore, BMW says it is investing massively in the restructuring of competencies in the areas of quality, logistics, maintenance, E/E, e-mobility and digital planning. Accordingly, more than 50,000 BMW Group employees have already qualified themselves for use in electromobility. What will be the consequences for the employees and the threats to the company?
A significant question that faces all analysts is how much effort to expend studying and documenting the existing system (if one exists). Excess attention to an existing system can consume considerable time and can result in simply updating that system with newer technology. As a result, no matter how inefficient the current system is, system developers simply reimplement the procedures that are already in place. On the other hand, if a new system inherits many or all of the requirements of an existing system, then an analyst risks missing important requirements through insufficient study of the existing system. To minimize both risks, analysts must balance the review of current business functions with discovery of new system requirements. It is still critical to have a complete correct set of system requirements, but in today’s fast-paced world, there is no time or money to review all the old systems and document all the inefficient procedures. In fact, in today’s development…
Units Produced and Sold 1,000 1,500 2,000 Sales $15,000 $22,500 $30,000 Variable Costs (6,000) (9,000) (12,000) Fixed Costs (4,000) (4,000) (4,000) Profit $ 5,000 $ 9,500 $ 14,000 What is the expected profit if 1,600 chairs are made?
You have been asked to estimate the selling price per unit of a new production line of a certain product. Pertinent data are as follows: Direct labor rate Production material Factory overhead Packing costs Desired profit RO 15.00 per hour RO 375 per 100 items 125% of direct labor 25% of direct cost 30% of total manufacturing cost Past experience has shown that 83% learning curve applies to the labor required for production these items. The time to complete the first item has been estimated to be 1.86 hours. Use the estimated time to complete the 50h item as your standard time for the purpose of estimating the unit selling price.
A product requires four parts that are made on the same lathe. Call the parts A, B, C,and D. The product requires 1 unit of A, 2 of B, 4 of C, and 8 of D. Which of the following production cycles is most appropriate?a. A: 100, B: 100, C: 100, D: 100 c. A: 100, B: 150, C: 200, D: 400b. A: 101, B: 102, C: 104, D: 108 d. A: 100, B: 200, C: 400, D: 800
One of the risks that might occur from weaknesses in requirement procedures is creeping user requirements. What steps may be taken to lessen this risk?
Opening and closing the office involves a set of procedures that are crucial to the management of the office including financial tasks such as balancing the cash drawer, tidying the reception areas, preparing for the day, starting up the computers and equipment, and at the close of the day, repeating some of these same tasks and securing the premises at the close of business. Of these duties, please describe daily financial management of the ambulatory medical office outlining the tasks completed at the opening and at the closing the office.
help me with parts b, c, d, e this is all the information the question needs. my question got rejected because the previous expert did not know how to solve this
The term "plenty of processes" doesn't really explain what it means, does it? Is it feasible to say the same thing with less words yet still have the same meaning?
Your startup company is considering manufacturing 5,000 units annually of a simple but important component for an aerospace contractor. With your existing resources, you priced the startup tooling to cost $1,000, and the cost to produce each unit will be $1.50. Alternatively, you can purchase an automated system for $15,000 which will reduce the cost per unit to $0.50. Neglecting interest, the breakeven point (years) is most nearly: 2.8 3.6 15.0 never

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