Estimate the cost of producing, Basic Statistics

Assignment Help:

Consider the manufacturing system presented in the article by Yu and Bricker (1993).

The management would like to purchase new machine tools more reliable and more high accuracy. These would eliminate all inspection operations and the times (rework). However, some parts will be released and made recovery due to internal defects that occur at various stages of machining. The new process then include four (4) steps only (machines 1, 2 and 3, and the packaging), in addition to the recovery of rejected parts. The characteristics techno-economic of the new process are given in the following table.

Operation j

Time t(j) men-hours

Cust c(j) $/hour

Reject rate

1.Machine 1

5.6

15.00

10

2.Machine 2

3.5

15.00

5

3.Machine 3

3.1

15.00

5

4. packaging

0.7

5.00

-

The new machine tools are more expensive to operate but discard rates are much lower and inspections are no longer required. The cost of purchasing parts Crude remains at $ 50 and the salvage value of rejected parts is $ 12.

(A) What's the percentage of crude part completed successfully? On average, how much crude parts have to be fixed to make 100 pieces finished?

(B) On average, what is the cost of producing a finished piece?


Related Discussions:- Estimate the cost of producing

Momentum and energy, Momentum and Energy Statement 1: If there is a defin...

Momentum and Energy Statement 1: If there is a definite force there is a definite displacement, which means that work is done definitely by the force. And Statement 2: The wor

Does the claim represent the null hypothesis or the alterna., A scientist c...

A scientist claims that the mean incubation period for the eggs of a species of birds is more than 46 days.

Determine the sources of data, The next step is to determine the sources of...

The next step is to determine the sources of data to be used. The researcher has to decide whether he has to collect primary data ror depend exclusively on secondary data. Sometime

Oecd database exercise , For this second assignment you will have to use th...

For this second assignment you will have to use the OECD database to investigate possible changes in the policy preferences of Western welfare states. You have to develop (i) an in

Nm, Ask question #Mmnhkinimum 100 words accepted#

Ask question #Mmnhkinimum 100 words accepted#

Valuing preferred stock, Gesto, Inc., has an issue of preferred stock outst...

Gesto, Inc., has an issue of preferred stock outstanding that pays a $4.50 dividend every year, in perpetuity. If this issue currently sells for $79.85 per share, what is the requi

examine the distributions of the sample data, A second file on DocDepot na...

A second file on DocDepot named Marks.mtp contains the final exam percentages of students in ADM2304A in the Fall 2011 semester. Assume that the class can be considered a random sa

Card custodian, Card custodian An person who is assigned responsibility of...

Card custodian An person who is assigned responsibility of purchase card security & issuance of cards to authorized users,

Write Your Message!

Captcha
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