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1. A manufacturing company has a small production line dedicated to the production of aparticular product. The line has four stations in serial. Inputs arrive at station 1 and theoutput from station 1 becomes the input to station 2. The output from station 2 is the inputto station 3 and so on. The output from station 4 is the fi nished product. Station 1 canprocess 2,700 units per month, station 2 can process 2,500/month, station 3 can process2,300/month, and station 4 can process 2,100/month. What station sets the maximum possibleoutput from this system? What is that maximum output number? 4. You are in a line at the bank drive-through and 10 cars are in front of you. You estimatethat the clerk is taking about fi ve minutes per car to serve. How long do you expect to waitin line? 10. An enterprising student has set up an internship clearinghouse for business students. Eachstudent who uses the service fi lls out a form and lists up to 10 companies that he or shewould like to have contacted. The clearinghouse has a choice of two methods to use for processingthe forms. The traditional method requires about 20 minutes to review the form and arrange the information in the proper order for processing. Once this setup is done, it takesonly two minutes per company requested to complete the processing. The other alternativeuses an optical scan/retrieve system, which takes only a minute to prepare but requires fi veminutes per company for completing the processing. If it costs about the same amount perminute for processing with either of the two methods, when should each be used? 11. Rockness Recycling refurbishes rundown business students. The process uses a movingbelt, which carries each student through the fi ve steps of the process in sequence. The fi vesteps are as follows: Time Required Step Description per Student 1 Unpack and place on belt 1.0 minute 2 Strip off bad habits 1.5 minutes 3 Scrub and clean mind 0.8 minute 4 Insert modern methods 1.0 minute 5 Polish and pack 1.2 minutesOne faculty member is assigned to each of these steps. Faculty members work a40-hour week and rotate jobs each week. Mr. Rockness has been working on a contractfrom General Eclectic, which requires delivery of 2,000 refurbished students perweek. A representative of the human resources department has just called complainingthat the company hasn't been receiving the agreed-upon number of students. A checkof fi nished goods inventory by Mr. Rockness reveals that there is no stock left. Whatis going on? 13. A local market research fi rm has just won a contract for several thousand small projects involving data gathering and statistical analysis. In the past, the fi rm has assigned each project to a single member of its highly trained professional staff. This person would bothgather and analyze the data. Using this approach, an experienced person can complete anaverage of 10 such projects in an eight-hour day. The fi rm's management is thinking of assigning two people to each project in order toallow them to specialize and become more effi cient. The process would require the data290 section 2 MANUFACTURING AND SERVICE PROCESSESgatherer to fi ll out a matrix on the computer, check it, and transmit it to the statisticalanalysis program for the analyst to complete. Data can be gathered on one project whilethe analysis is being completed on another, but the analysis must be complete before thestatistical analysis program can accept the new data. After some practice, the new processcan be completed with a standard time of 20 minutes for the data gathering and 30 minutesfor the analysis. a. What is the production (output per hour) for each alternative? What is the productivity(output per labor hour)? b. How long would it take to complete 1,000 projects with each alternative? Whatwould be the labor content (total number of labor hours) for 1,000 projects for eachalternative? 18. I-mart is a discount optical shop that can fi ll most prescription orders in around 1 hour.The management is analyzing the processes at the store. There currently is one personassigned to each task below. The optometrist assigned to task B takes an hour off forlunch and the other employees work the entire day.Task Time A. Greet/register the patient 2 minutes/patient B. Optometrist conducts eye exam 25 minutes/patient C. Frame/lenses selection 20 minutes/patient D. Glasses made (process can run 6 pairs of glasses at the same time) 60 minutes/patient E. Final fi tting 5 minutes/patient For a typical 10-hour retail day (10 a.m.-8 p.m.), the manager would like to calculate thefollowing: a. What is the current maximum output of the process per day (assuming every patientrequires glasses)? b. If another person were added, where would be the logical place? c. What effect would a mail order lab (where the glasses are made off-site and returned in 5-7 days) have on the process?
On January 1, 2007, Sloane Co. purchased 25% of Orr Corp.'s common stock; no goodwill resulted from the purchase. Sloane appropriately carries this investment at equity and the balance in Sloane's investment account was $720,000 at December 31, 20..
Under the economic unit concept, what amount should have been assigned to the non-controlling interest immediately after the combination? Show all of your work. Showing only the answer will result in zero points.
To determine whether accounts payable are complete, an auditor performs a test to verify that all merchandise received has been recorded. The population for this test consists of all:
A company changes from straight-line to an accelerated method of calculating depreciation, which will be similar to the method used for tax purposes. The entry to record this change should include a
Griggs Company holds $50,000 of 8% bonds as a held-to-maturity security. Which of the following is the correct journal entry to record the receipt of the semiannual interest payment.
Direct materials are placed into the process at the beginning of production. Determine the number of equivalent units of production with respect to direct matrials and conversion cost.
Under management by exception, which differences between planned and actual results should be investigated?
In determining the initial accounting for leases for both the lessee and the lessor?
On February 1, 2010, Pat Weaver Inc. (PWI) issued 9%, $1,400,000 bonds for $1,700,000. PWI retired all of these bonds on January 1, 2011, at 102. Unamortized bond premium on that date was $142,800. How much gain or loss should be recognized on thi..
The production departments are profit centers. Their goods are transferred to subsequent depart-ments, such as a sales department or sales division, at prices that approximate market prices for similar products.
Depreciation has been taken up to the end of the year. The company found a company that is willing to buy the equipment for $30,000. What is the amount of the gain or loss on this transaction?
A parcel of land is: offered for sale at $150,000, assessed for tax purposes at $95,000, recognized by its purchasers as being worth $140,000 and purchased for $137,000. The land should be recorded in the purchaser's books at:
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