Problem 1. (20 pts.) Jerry is a production manager of company XYZ that produces packaged fruit...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Problem 1. (20 pts.) Jerry is a production manager of company XYZ that produces packaged fruit baskets. The company employs agency personnel from a professional staffing firm. The contract for a number of employees is signed at the beginning of the year and the number of employees cannot change during the year. The marketing department provided a quarterly demand estimate (in units of packaged fruit baskets) for the next year along with the number of working days each quarter. Please help Jerry determine the minimum number of employees XYZ will need to avoid any shortages in the forecasted demand. The current number of agency employees is 40; the last quarter production was 22,080 units; the working number of days in the last quarter was 92. The inventory at the end of last year is 200. (a) (10 pts.) Use the constant workforce plan to determine number of agencies required for the next year. (The table below is provided for your convenience. You can use as many columns as you need). Quarter #Working Days Demand 1st 89 17,000 2nd 90 23,000 3rd 91 26,000 4th 88 20,000 (b) (10 pts.) Suppose the constant workforce plan determined in part (a) is going to be deployed, and each agency can work up to 8 hours as regular production time each day (assuming the 22,080 units in the problem statement are produced by the 40 workers working exactly 8 hours each day during the quarter). Assume that regular hourly rate XYZ pays to the staffing company is $12 per agency. Assume each agency can work overtime at 1.5 rate. The overtime cannot exceed 25% of the regular production time. Also, XYZ needs to pay tax for the existing inventory at the end of each quarter. The quarterly tax for each item in inventory is $2. Formulate an integer program to find minimum cost plan for the upcoming year. Problem 1. (20 pts.) Jerry is a production manager of company XYZ that produces packaged fruit baskets. The company employs agency personnel from a professional staffing firm. The contract for a number of employees is signed at the beginning of the year and the number of employees cannot change during the year. The marketing department provided a quarterly demand estimate (in units of packaged fruit baskets) for the next year along with the number of working days each quarter. Please help Jerry determine the minimum number of employees XYZ will need to avoid any shortages in the forecasted demand. The current number of agency employees is 40; the last quarter production was 22,080 units; the working number of days in the last quarter was 92. The inventory at the end of last year is 200. (a) (10 pts.) Use the constant workforce plan to determine number of agencies required for the next year. (The table below is provided for your convenience. You can use as many columns as you need). Quarter #Working Days Demand 1st 89 17,000 2nd 90 23,000 3rd 91 26,000 4th 88 20,000 (b) (10 pts.) Suppose the constant workforce plan determined in part (a) is going to be deployed, and each agency can work up to 8 hours as regular production time each day (assuming the 22,080 units in the problem statement are produced by the 40 workers working exactly 8 hours each day during the quarter). Assume that regular hourly rate XYZ pays to the staffing company is $12 per agency. Assume each agency can work overtime at 1.5 rate. The overtime cannot exceed 25% of the regular production time. Also, XYZ needs to pay tax for the existing inventory at the end of each quarter. The quarterly tax for each item in inventory is $2. Formulate an integer program to find minimum cost plan for the upcoming year.
Expert Answer:
Posted Date:
Students also viewed these general management questions
-
A share of preferred stock pays a dividend of $5 per year. If the price of this preferred stock is currently $100, what is the cost of preferred stock? Fill in the blank
-
On December 31, 2014, Pate Corporation acquired 80% of Starmont Corporations common stock for $900,000 cash. Assume that the fair values of Starmonts identifiable assets and liabilities equaled book...
-
The cash records and bank statement for the month of May for Diaz Entertainment are shown below. Additional information: a. The difference in the beginning balances in the companys records and the...
-
Actual costs often behave in a nonlinear fashion. Therefore, assumptions of linearity invalidate most cost behavior analyses. Do you agree or disagree with this statement? Briefly defend your...
-
OReilly Manufacturing, Inc.s cost of goods sold for the month ended July 31 was $345,000. The ending work in process inventory was 90% of the beginning work in process inventory. Factory overhead was...
-
1372 Final 1) On a given Friday, a dentist performs a number of fillings with probability of each number given below: 0 .15 1 .35 2 X 3 4 .15 .05 Find X, and then find the probability of 2 or more...
-
Assignment Content Every day we create a tremendous amount of data from our use of cell phones to medical recordsfrom credit card purchases to social media posts. For modern society, data analysis is...
-
1. A bedroom has a volume of 104 m 3 . What is its volume in cubic kilometers (km 3 )? What is its volume in decimeters cubed (dm 3 )? What is its volume in centimeters cubed (cm 3 )? 2. A proton has...
-
Write a Presentation on Anuradha koirala as a great leader with 20 slides. Also mention, How does this leader affect cultural and ethical views of leadership in United States today.
-
Designing a Video Content Management System Step 1: Code the pages (HTML, CSS and any framework of your choice, e.g. Bootstrap) Page 1: List of the Videos Upload and Post a New Video Video One Title...
-
Given that in a RLC circuit L is connected in series with a parallel combination of R C , Where R = 4 0 h m s , L = 1 H and C = 0 . 5 F , what is the impedance, Z in complex notation. Solve without...
-
Frank Inc.'s data from the year just ended (below), compute cost of goods sold: Purchases of raw material, $26,000 Indirect materials transferred to manu. overhead $6,000 Direct labor, $58,000...
-
Do some cultural research on Japan and the United States Compare those cultural characteristics What similarities and differences exist How might these cultural differences be affecting the situation...
-
a) Calculate the goodwill that was paid by Major Ltd on the acquisition of Minor Ltd. [10 marks] b) Prepare the consolidated statement of financial position for Major Ltd at 31 July 20X8. [30 marks]...
Study smarter with the SolutionInn App