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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?
1. Give three examples of how management can engage in "real" earnings management to achieve the desired reporting of higher net income. 2. Profiles Corp. had the following infrequent income statement items during 2009:
If management decides to buy part I50 from the outside supplier rather than to continue making the part, what would be the annual impact on the company's overall net operating income?
Which of the following is most likely to be used in determining a proper amount to be included in the allowance for doubtful accounts?
Several not-for-profit organizations use television campaigns to obtain pledges to contribute cash. Some people think that not-for-profit entities should recognize pledges as revenues when the cash is actually received.
Each Student is to individually complete and submit a research Paper as part of their Final Grade. The subject of this Paper is to be on a legal subject related to forensic accounting, such as money laundering, terrorist financing, tax fraud, inte..
At December 31, 2011, the following information was available for J. Graff Company: ending inventory $53,800, beginning inventory $65,120, cost of goods sold $285,860, and sales revenue $381,580. Calculate inventory turnover and days in inventory ..
What is the difference between the cash basis of accounting and the accrual basis of accounting? Which one would you select for a company that has inventory and why?
On January 15, 2013, Yancey Company paid property taxes on its factory building for the calendar year 2013 in the amount of $840,000. In the first week of April 2013, Vancey made unanticipated major repairs to its plant equipment at a cost of $2,1..
"Cost allocation is arbitrary, so there is nothing gained by it. We should report only the costs we know are direct." Do you agree? Why?
What are the advantages of loan agreements that contain covenants tied to accounting numbers? Are there any disadvantages? Please explain.
Betty dies on February 20 of the current year. Her estate consisted of the following assets, all valued as of her date of death:
Sale of Property Acquired by Gift. In 2008 F gave his son S, 100 shares of IBM stock which at that time were worth $30,000. F paid a gift tax on the transfer of $5,000. Assuming F had purchased stock in 2004 for $40,000 what are the tax consequenc..
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