The schedule variance is the difference between the earned value and the planned value. True False
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- 4.- A real estate agent is considering changing his cell phone plan. There are three plans to choose from, all include a $20 per month charge. Plan A costs $0.45 per minute for calls in the morning and $0.20 per minute for calls in the afternoon. Plan B costs $0.55 per minute for calls in the morning and $0.15 per minute for calls in the afternoon. Plan C has a constant cost of $80 with 200 minutes of calls per month and a charge of $0.40 per minute after 200 minutes regardless of whether it is in the morning or afternoon. a) Determine the total charge for each plan for 120 minutes in the morning and 40 minutes in the afternoon in one month. b) If the agent uses the call service only in the morning, what is the range of minutes in which each plan is optimal?The sales needed in the computation of Additional Funds Needed is the projected sale a year from now true falseRequired: Calculate the arithmetic mean and the geometric mean over the three-yearperiod for the investments made.
- QuestionByron Sports is a manufacturer of sportswear. It produces all of its products in one department using a process costing system.The information for the current month is as follows:Beginning work in process (30% complete as to conversion cost) 12,000 unitsUnits started 90,000 unitsUnits completed and transferred out ?Ending work in process (70% complete as to conversion) 8,000 unitsCosts:Beginning work-in-process direct materials $28,800Beginning work-in-process conversion $5,040Direct materials added during month $216,000Conversion costs incurred during the month $139,200Direct materials are added at the beginning of the process. Conversion costs are incurred uniformlythroughout the production process. Costing is handled on a FIFO basis Required:a. Prepare a production cost worksheet using 5 steps approach.b. Under what conditions would a process costing system be more appropriate than a job order costing system? Explain.Which type of plan is used to manage an event that has reoccurrence? a. Standing Plan b. Schedule c. Budget d. Program4. The Spencer Optics Company produces an inexpensive line of sunglasses. The manufacturing process consists of assembling two plastic lenses (produced by the firm's plastic molding depart- ment) into a finished frame (purchased from an outside supplier). The company is interested in using material requirements planning to schedule its operations and has asked you to prepare an example to illustrate the technique. The firm's sales manager has prepared a 10-week sales forecast for one of the more popular sunglasses (the Classic model) for your example. The forecast is 100 units per week. Spencer has customer orders of 110 units, 80 units, 50 units, and 20 units in weeks 1, 2, 3, and 4, respectively. The sunglasses are assembled in batches of 300 units. Presently, three such batches are sched- uled: one in week 2, one in week 5, and one in week 8. Complete the following time-phased record: Week hand 1 2 3 4 5 6 7 8 9 10 Classic Model On MPS Record Forecast Orders Projected available…
- This process is used in business or manufacturing to predict their future requirements Select one: a. Plant Layout b. Capacity Study c. Forecast d. SchedulingCulinary Creations caters weddings, office parties, and the like. Monica, the owner of Culinary Creations, offers delectable dishes and impeccable service. Her firm has gained a reputation for offering unique themed dinners and parties. Consequently, there is no shortage of demand. If a customer wants to customize a party beyond the regular “themes,” the customer must reserve a date several months in advance so that Monica can plan for all contingencies and deliver perfection. Culinary charges a premium price for its unique services. Required: a. Describe three internal processes that Culinary must execute well to deliver on its value proposition. Justify your choices. b. What might be the appropriate performance measures for these critical processes?The main input for master scheduling schedule is: O a. Long term forecasting O b. Aggregate production (capacity) plan (aggregate planning) O c. Material requirements planning (MRP) O d. None of the above Which of the following best describes the last step to developing a master production schedule? O a. Check preliminary MPS against available capacity O b. Check the MPS against the production plan to ensure they match O c. Resolve differences between the preliminary MPS and available capacity O d. Design a preliminary MPS MRP systems are: O a. Substitutes for fixed order point/order quantity systems. O b. Appropriate for all end items in the product line. O c. Intended to determine an appropriate master production schedule. Od. Intended to reduce inventory requirements, production lead times, and delivery times to customers. O e. Intended to be used for independent demand items.
- Exercise 3: Daily demand for a product of a computer manufacturer is 400,000 units. The company, on average, makes $150 net profit for each computer. The current fill rate is 86%. About 70% of their incomplete orders are back-ordered, and the rests are cancelled. The company is considering to improve the fill rate to 90% whose estimated daily additional operating cost (e.g.,improving the warehousing and transportation) is $2,000,000. What should be the minimum back-order cost to make this investment reasonable?1.You’re managing a project to install 400 windows in a new skyscraper and need to figure outyour budget. Each week of the project costs the same: your team members are paid a total of $4,000every week, and you need $2,000 worth of parts each week to do the work. If the project isscheduled to last 16 weeks, calculate theBAC, PV, EV, AC, SPI, SV, CPI, SPI, CV for the project? 2.You’re managing a highway construction project. Your total budget is $650,000, and there isa total of 7,500 hours of work scheduled on the project. You check with your accountingdepartment, and they tell you that you’ve spent a total of $400,000. According to the schedule,your crew should have worked 4,500 hours, but your foreman says that the crew was allowed towork some overtime, and they’ve put in 5,100 hours of work. Calculate theBAC, PV, EV, AC, SPI, SV, CPI, SPI, CV for the project?The Theory of Constraints method is also referred to as the drum-buffer-rope method. Question content area bottom Part 1 True False