Complete investigation on the jit and eoq models

Assignment Help Accounting Basics
Reference no: EM13103281

Question 1:

You are designing a grocery delivery business. Via the Internet, your company will offer staples and frozen foods in a large metropolitan area and then deliver them within a customer-defined window of time. You plan to partner with two major food stores in the area. What should be your competitive priorities and what capabilities do you want to develop in your own core and support processes?

  • Is it possible for a project to have more than one critical path? Discuss the implications of such a situation with respect to each of the following aspects:
  • Project risk
  • Total available slack
  • Resource dependencies
  • Responsibilities of the project manager

Question 2:

A flow chart helps us see all of the steps in a process, which in turn help us improve the process. It also helps us identify and eliminate any redundant steps in a process.

Select ONE real-world service process (for example, at a bank, at a movie theatre, at a theme park, etc.), and draw a flow chart for that process in MS Word. How can this process be improved by eliminating any redundant steps of the process and/or simply improving some of the specific steps? What you are asked to do here is called Process Mapping and is done by operations managers all the time!

Question 3:

Complete additional investigation on the JIT and EOQ models. Discuss which of the two inventory models is better and why: Economic Order Quantity or Just-in-Time?

Question 4:

Are quality management practices similar in manufacturing and service companies? How do they differ? Explain your answers.

Question 5:

The ABC Company has a large order for special uniforms to be used in an urgent operation. Working the normal two shifts of 40 hours each per week, the ABC production process usually produces 2, 500 uniforms per week at a standard cost of $120 each. Seventy employers work the first shift and 30 the second. The contract price is $200 per uniform. Because of the urgent need, ABC is authorized to sue around-the-clock production, six days per week. When each of the two shifts work 72 hours per week, production increases to 4,000 uniforms per week but at a cost of $144 each.

  • Did the multifactor productivity ratio increase, decrease, or remain the same? If it changed, by what percentage did it change?
  • Did the labor productivity ratio increase, decrease, or remain the same? If it changed, by what percentage did it change?
  • Did weekly profits increase, decrease, or remain the same?

Question 6:

At ZYZ Company, a custom manufacturer of printed circuit boards, the finished boards are subjected to a final inspection prior to shipment to its customers. As XYZ's quality assurance manager, you are responsible for making a presentation to management on quality problems at the beginning of each month. Your assistant has analyzed the reject memos for all the circuit boards that were rejected during the past month. He has given you a summary statement listing the reference number of the circuit board and the reason for rejection from one of the following categories:

A= Poor electrolyte coverage

B=Improper lamination

C= Low copper plating

D= Plating separation

E= Improper etching

For 50 circuit boards that had been rejected last month, the summary statement showed the following:

C B C C D E C C B A D A C CC B C A C D C A C C B

A C A C B C C A C A A C C D A C C C E C C A B A C

  • Prepare a tally sheet (or checklist) of the different reasons for rejection.
  • Develop a Pareto chart to identify the more significant types of rejection.

Examine the causes of the most significant type of defect, using a cause-and-effect diagram

Verified Expert

Reference no: EM13103281

Questions Cloud

Illustrate what are major criticisms of boards of directors : Illustrate what are the major criticisms of boards of directors? Which single criticism do you find out to be the most important? Explain why?
To what shorter length must you trim : A certain thin, uniform rod has a mass of 2 kg and length 3 m. To what shorter length must you trim it (discarding the smaller part) so that the remaining length has half the original moment of inertia about its end.
National science foundation who screens all funding : The HR director of a large university who screens altogether internal applicants for eligibility previously sending applications to the interviewers for a specific position.
Second year depreciation expense for this asset would be : Illustrate what is the formula for this problem: A firm purchases an asset falling into the 3-year MACRS category for $78,000. The second year's depreciation expense for this asset would be?
Complete investigation on the jit and eoq models : Complete additional investigation on the JIT and EOQ models. Discuss which of the two inventory models is better and why: Economic Order Quantity or Just-in-Time?
Definition of a low-mileage car : One definition of a low-mileage car is one that is 4 years old and has been driven less than 45,000 miles. What percent of the cars returned are considered low-mileage?
What is the gauge pressure : What is the gauge pressure (in kPa) of the air in the tires when its temperature rises to 26.5°C and its volume increases to 1.70 x 10-2 m3? Assume atmospheric pressure is 1.01 x 105 Pa.
Introduction of probability : The director of quality for Harley Davidson is conducting his weekly spot check of the transmission gear box of the newly introduced Wind Phantom series motorcycle.
Evergreen air center is the world largest parking lot : Evergreen Air Center is the world's largest parking lot for undesired commercial aircraft. Airlines pay from $750 to $5,000 monthly for the storage services provided by Evergreen.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Description of debits and credits

What are debits and credits? In your opinion, why do accountants debit asset accounts to increase them but credit liability accounts to increase them?

  Computation of payroll and related tax expense

An employee received a paycheck from her employer in the amount of $776.35. The pay-check stub indicated that in calculating her $776.35 net pay, $139.75 had been withheld for federal income tax, $34.25 for state income tax, and $74. 65 for FICA. ..

  Tax reduction amount for donation

Allison is the sole shareholder of Destiny Corporation, which operates a travel agency for business travelers. Allison would like the corporation to donate some used computers to a local private school dedicated to the education of young ladies.

  Change in accounting method

At the beginning of 2011, Red decided to change the depreciation to the double-declining balance method. The residual value remains at $4 million. Ignoring income taxes, what will be Red's depreciation expense for 2011?

  Structure of federal income tax

What is the rate structure of the U.S. federal income tax? Analyze the progressive nature of the U.S. tax system and its consequences.

  Overhead variance-fixed manufacturing overhead

The fixed manufacturing overhead variance caused by actual activity being different from the estimated activity used in calculating the predetermined overhead application rate is called the:

  Reallocation of fixed costs

If a division is reporting losses, does that necessarily mean that it must be closed? Was the reallocation of the fixed costs across divisions unethical?

  Journal entries for bond issuance-interest and amortization

Please describe how to prepare necessary journal entries to record the issuance of bonds, the periodic interest, and amortization of bond premiums and discounts.

  Audit-cobit methodology

How does an audit performed using CobiT methodology differ from an audit that doesn't?

  Disclosure requirements for nonprofit organizations

Explain disclosure requirements for nonprofit organizations, such as the tax-exempt determination letters required by Congress and the IRS. Discuss the reasons for these disclosure requirements and the sentiments of the public and government abou..

  Expenses incurred and retained earnings relationships

Assume that retained earnings increased by $240,000 from December 31, 2005, to December 31, 2006, for Miller Corporation. During the year, a cash dividend of $140,000 was paid.

  Discussing finance details of foreign project

A foreign project that is profitable when valued on its own will always be profitable from the parent firm's standpoint. True or false? Explain.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd