This can be done by using the following formula: Minimum of Workstations = Σ for Task i Cycle time To find Cycle time the following formula is used: Cycle Time = Production Time Available Per Day Units Required Per Day Based on the information provided by Alistair Wu of a 40 hour work week and 6 work boots per hour we can conclude that the cycle time is 10 minutes per unit (480 minutes per day / 48 work boots per day). With that being said using the formula above, we can conclude that the minimum number of workstations required for the work boot assembly line is 4.6 or 5 stations. Reducing the number of stations from 8 to 5 would provide a drastic improvement in proficiency from 57.5% up to 92%. To verify my results and determine how the stations should be arranged I used POM for Windows Assembly Line Balancing Module. The results from POM are attached.
The Shanghai production plant produced Rugged Wear Work Boots at its facility. This production process uses 8-steps during its process, which included an assembly line with 8 workstations. At each individual workstation the employees perform single specific job functions. These individual task can be completed in around 3 minutes to 10 minutes, however total time to complete work boots is estimated at around 46 minutes. The Shanghai facility’s budgeted to produce 6 work boots per hour within the expected 40 hour workweek.
Utilizing the Case Study we can surmise that each eight hour shift must produce forty-eight work boots. 8 hours times 60 minutes equals 480 minutes. 480 minutes (The Work Shift) divided by 48 (the number of work boots required) equals 10. One work boot must be completed in 10 minutes to meet production goals. Let’s take a look at the steps involved in making a work boot so analyze where we can cut production times.
Required start-up material is 3,700 pounds at $ 2.70 per pound = $9,990.00 5. Company labor for installation requires two maintenance specialists for two days at eight hours per day and $ 35 per hour = $1,120.00 6. Contract labor is estimated at a fixed price of $ 7,500.00 7. Engineering is estimated to be 15% of (equipment / material) cost based on past experience = 10,678.50 8. Inspection is estimated to be 3% of (labor) cost based on past experience = 258.60 9.
Taking the option to abandon into account, what is the project’s NPV? (d) What is the value of the option to abandon? Solution: (a) Using an initial cash flow of -2.1 million followed by 10 cash flows of 420,000 each and a discount rate of 16%, calculate NPV. You should get NPV = -$70,044.46. (b) Since the opportunity cost of continuing the project is 1.4 million and the project has 9 years left, use your calculator with n=9, R=16%, PV=−1.4 million and FV=0.
Problem: P22-6, Accounting Change and Error Analysis Course: AC557 Intermediate Accounting III "On December 31, 2010, before the books were closed, the management and accountants of Madrasa Inc. made the following determinations about three depreciable assets." 1. Depreciable asset A was purchased January 2, 2007. It originally cost $540,000 and, for depreciation purposes, the straight-line method was originally chosen. The asset was originally expected to be useful for 10 years and have a zero salvage value.
Since all the values in this case appear only once and therefore there no mode value. 4. The amount of time (in hours) that Sam studied for an exam on each of the last five days is given below. Find the mean study time. 1.7 5.2 8.7 2.4 4.9 Study tines equals 22.9 Number of times studied = 5 Answer: 22.9/5 = 4.58 hours 5.
Accounting 381 Winter 2010 Name ________________________________ Quiz 2: 15 points (1 point each) 1. Which of the following is an example of managing earnings down? a. Changing estimated bad debts from 3 percent to 2.5 percent of sales. b. Revising the estimated life of equipment from 10 years to 8 years.
Days to Repair Using the array given to us, we know that the repair time in days is between 1 and 4 days, and utilizing the formula =VLOOKUP the simulation works to find, based on a running model the average repair time. Running the simulation many times, the user gets something approximating 2.35 days with some deviation. Average Number of Weeks between Breakdowns The time between breakdowns was calculated by taking the x that was given (6) and multiplying it by the square root of the random variable. This was done for all 100 breakdowns, and then an average was derived by summing all 100 times and diving by 100 to get an average. Based on multiple simulations, the result is somewhere around every 4 weeks given the deviations.
$28,900 C. $35,600 D. $37,300 E. $39,200 8. If Sam can do a job in 4 days that Lisa can do in 6 days and Tom can do in 2 days, how long would the job take if Sam, Lisa, and Tom worked together to complete it? A. 0.8 days B. 1.09 days C. 1.23 days D. 1.65 days E. 1.97 days 9.