Lean Manufacturing: Lean manufacturing aims at reducing the cost and minimizing the waste involved in the production, in order to optimize the value for the product or the service. To Explain: The purchasing policy of Company SG.

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Answer 1

Question

Chapter 12, Problem 1PA

a)

To determine

Lean Manufacturing: Lean manufacturing aims at reducing the cost and minimizing the waste involved in the production, in order to optimize the value for the product or the service.

To Explain: The purchasing policy of Company SG.

b)

To determine

To Identify: The additional costs involved with the bid of Company M beyond price, and the reasons for ignoring them.

c)

To determine

To Calculate: The additional costs per pound for the bid of Company M, if the annual cost of money is 10%.

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The industrial enterprise "HUANG S.A." purchased a sorting and packaging machine from a foreign company on 1/4/2017 at a cost of €500,000. The useful life of the machine was estimated by the Management at ten (10) years, while the residual value was estimated at zero. For the transportation of the machine from abroad to the company's factory, the amount of €20,000 was paid on 15/4/2017. As the insurance coverage of the machine during transportation was the responsibility of the selling company, HUANG S.A. proceeded to insure the machine from 16/4/2017 to 15/4/2018, paying the amount of €1,200. The delivery took place on 15/4/2017. As adequate ventilation of the multifunction device is essential for its proper operation, the company fitted an air duct on the multifunction device. The cost of the air duct amounted to €2,000 and was paid on 20/4/2017. On 25/4/2017, an external electrician was paid €5,000 for the electrical connection of the device. The company also paid €5,000 to an…

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Answer 2

Question

Chapter 12, Problem 1PA

a)

To determine

Lean Manufacturing: Lean manufacturing aims at reducing the cost and minimizing the waste involved in the production, in order to optimize the value for the product or the service.

To Explain: The purchasing policy of Company SG.

b)

To determine

To Identify: The additional costs involved with the bid of Company M beyond price, and the reasons for ignoring them.

c)

To determine

To Calculate: The additional costs per pound for the bid of Company M, if the annual cost of money is 10%.

Expert Solution & Answer

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Answer 3

Question

Chapter 12, Problem 1PA

a)

To determine

Lean Manufacturing: Lean manufacturing aims at reducing the cost and minimizing the waste involved in the production, in order to optimize the value for the product or the service.

To Explain: The purchasing policy of Company SG.

b)

To determine

To Identify: The additional costs involved with the bid of Company M beyond price, and the reasons for ignoring them.

c)

To determine

To Calculate: The additional costs per pound for the bid of Company M, if the annual cost of money is 10%.

Expert Solution & Answer

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Check out a sample textbook solution

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Answer 4

Question

Chapter 12, Problem 1PA

a)

To determine

Lean Manufacturing: Lean manufacturing aims at reducing the cost and minimizing the waste involved in the production, in order to optimize the value for the product or the service.

To Explain: The purchasing policy of Company SG.

b)

To determine

To Identify: The additional costs involved with the bid of Company M beyond price, and the reasons for ignoring them.

c)

To determine

To Calculate: The additional costs per pound for the bid of Company M, if the annual cost of money is 10%.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 5

Chapter 12, Problem 1PA

a)

To determine

Lean Manufacturing: Lean manufacturing aims at reducing the cost and minimizing the waste involved in the production, in order to optimize the value for the product or the service.

To Explain: The purchasing policy of Company SG.

b)

To determine

To Identify: The additional costs involved with the bid of Company M beyond price, and the reasons for ignoring them.

c)

To determine

To Calculate: The additional costs per pound for the bid of Company M, if the annual cost of money is 10%.

Answer 6

Chapter 12, Problem 1PA

a)

To determine

Lean Manufacturing: Lean manufacturing aims at reducing the cost and minimizing the waste involved in the production, in order to optimize the value for the product or the service.

To Explain: The purchasing policy of Company SG.

Answer 7

Chapter 12, Problem 1PA

a)

To determine

Lean Manufacturing: Lean manufacturing aims at reducing the cost and minimizing the waste involved in the production, in order to optimize the value for the product or the service.

To Explain: The purchasing policy of Company SG.

Answer 8

b)

To determine

To Identify: The additional costs involved with the bid of Company M beyond price, and the reasons for ignoring them.

Answer 9

b)

To determine

To Identify: The additional costs involved with the bid of Company M beyond price, and the reasons for ignoring them.

Answer 10

c)

To determine

To Calculate: The additional costs per pound for the bid of Company M, if the annual cost of money is 10%.

Answer 11

c)

To determine

To Calculate: The additional costs per pound for the bid of Company M, if the annual cost of money is 10%.

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 12 - What is the benefit of the lean philosophy?Ch. 12 - Prob. 2DQ Ch. 12 - Prob. 3DQ Ch. 12 - Prob. 4DQ Ch. 12 - Prob. 5DQ Ch. 12 - Why would a lean manufacturer strive to produce...Ch. 12 - Prob. 7DQ Ch. 12 - Prob. 8DQ Ch. 12 - Prob. 9DQ Ch. 12 - Prob. 10DQ

Lean Manufacturing: Lean manufacturing aims at reducing the cost and minimizing the waste involved in the production, in order to optimize the value for the product or the service. To Explain: The purchasing policy of Company SG.

Solution Summary: The author explains how Lean Manufacturing aims at reducing the cost and minimizing the waste involved in the production to optimize the value for the product or the service.

Lean Manufacturing: Lean manufacturing aims at reducing the cost and minimizing the waste involved in the production, in order to optimize the value for the product or the service.

To Explain: The purchasing policy of Company SG.

To Identify: The additional costs involved with the bid of Company M beyond price, and the reasons for ignoring them.

To Calculate: The additional costs per pound for the bid of Company M, if the annual cost of money is 10%.

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Chapter 12 Solutions