Essentials Of Personal Financial Planning 1st Edition Susan M. Tillery, Thomas N. Tillery - Solutions

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Carousel conveyors are used for storage and order picking for small parts. The conveyors rotate clockwise or counterclockwise, as necessary, to position storage bins at the storage and retrieval point. The conveyors are closely spaced, such that the operator’s travel time between conveyors is
A five-aisle automated storage and retrieval system (AS/RS) with a storage/retrieval (S/R)machine in each aisle is installed in a distribution center. Full pallet loads are stored and retrieved by the S/R machines. The input/output (I/O) point is at the end of the aisle and consists of a simple
Cases of product are conveyed to automatic palletizers for palletizing. Depending on the particular product and carton dimensions, the palletizer has to be reprogrammed by an operator. Typically, 25 pallet loads are completed before reprogramming is needed.The reprogramming requires 4 minutes. The
It takes 3 minutes to load and 2 minutes to unload a machine. Inspection, packing, and travel between machines totals one minute. Machines run automatically for 20 minutes.Operators cost $12 per hour; machines cost $30 per hour.a. What is the maximum number of machines that can be assigned to an
min; tA 7 min;tB 8 min; and tC 9 min. What is the length of the repeating cycle?
min; aC 3 min; bA 1 min; bB 1 min; bC
Use a multiple activity chart to illustrate how one operator can tend machine A, machine B, and machine C during a repeating cycle, based on the following data: aA 2 min; aB
Semiautomatic mixers are used in a paint plant. It takes 6 minutes for an operator to load the appropriate pigments and paint base into a mixer. Mixers run automatically and then automatically dispense paint into 50-gallon drums. Mixing and unloading take 30 minutes to complete. Mixers are cleaned
min; t1 6 min; and t2 8 min. The cost parameters are the same for each operator-machine combination: Co $15/hr and Cm $50/hr. Determine the method of assigning operators to machines that minimizes the cost per unit produced.
min; b1 1 min; b2
Suppose five identical machines are to be used to produce two different products. The operating parameters for the two products are as follows: a1 2 min; a2
In Example 2.7, suppose an operator is assigned three machines, the work shift begins at 8:00 A.M., a 15-minute break occurs at 9:45 A.M., a 30-minute lunch break occurs at 11:45 A.M., a 15-minute break occurs at 2:00 P.M., and the shift ends at 4:00 P.M. When breaks occur, all machines are
In Example 2.7, suppose the cost per machine hour is unknown. For what range of values of Cm will the optimum assignment remain the same? Justify your answer.
In Example 2.7, suppose 11 machines are to be assigned. Which of the following assignments will minimize the total cost over a common time period: {2, 2, 2, 2, 3} or {2, 2, 2, 2, 2, 1}? Is there another combination that will be less expensive?
An order for 45 castings has been received. Each casting is produced independently, with a 0.85 probability of an individual casting being good. The customer will accept as few as 40 and as many as 50 castings at a unit sales price of $2000; each casting costs $800 to produce. (Hint: The optimum
A firm has received an order for 25 die cast parts made from precious metals. The parts will sell for $5000 each; it will cost $2500 to produce an individual part. The probability of a part meeting final inspection equals 0.98. Parts not sold, good and bad, can be recycled at a value of $1000. A
A semiconductor wafer fabrication facility received an order for specially designed prototype semiconductor wafers. The cost of producing each wafer is estimated to be$20,000. The customer agrees to pay $150,000 for three good wafers, $200,000 for four good wafers, and $250,000 for five good
A job shop has received an order for high-precision formed parts. The cost of producing each part is estimated to be $65,000. The customer requires that either 8, 9, or 10 parts be supplied. Each good part sold will produce revenue of $100,000. However, if fewer than 8 good parts are produced, none
A foundry receives an order for four custom-designed castings. The customer will pay$30,000 for each of four good castings. The customer will accept neither fewer nor more than four castings. It will cost $15,000 to produce each casting. Each casting is produced independently; the probability of a
In Problem 2.28, suppose the castings are produced independently with the probability of an individual casting being good being equal to 0.88. Using the binomial distribution to generate the probabilities, determine the optimum number of castings to produce.What is the probability of losing money
A foundry produces castings to order. An order for 20 special castings has been received.Since the casting process is highly variable, not all castings produced are good. The cost of producing each casting is $550; the additional cost of finishing a good casting is $125. If a casting is not good,
A foundry has received an order for 20 custom-designed castings. The casting process costs $700 per unit scheduled. If a casting is good, then it is machined to specifications at an added cost of $500 per unit. If a casting is not sold, it has a recycle value of $300.The customer has indicated a
Consider the manufacture of a simple remote control, constructed of five components;the top cover, bottom cover, circuit board, keypad, and battery compartment cover.The top cover is molded, which produces 5% scrap. Labels are painted on the top cover, of which 95% of the completed top covers are
Part A is produced in machines 1 and 2. Part B is produced in machines 3 and 4. Parts A and B are assembled in workstation 5 to create C. Assembly C is painted in process 6.Given the scrap percentages d1,. . ., d6 for each operation and the desired output O6 for C, determine an equation that can be
Suppose that a final assembly is produced by assembling two components. The first component, component A, is produced in-house and proceeds through three process steps, blanking, forging, and machining, with scrap estimates of 10%, 15%, and 25%, respectively.For every three units of component A
During one eight-hour shift, 750 nondefective parts are desired from a fabrication operation.The standard time for the operation is 15 minutes. Because the machine operators are unskilled, the actual time it takes to perform the operation is 20 minutes, and, on average, one-fifth of the parts that
Consider Problems 2.20 and 2.21. Assume for operation 4 that the assembly operation has a standard time of four minutes, reliability of 95%, and efficiency of 98%. Compute the number of assembly machines required for each scrap level. What is the impact of the scrap percentage on the number of
Suppose that in Problem 2.20, each process was able to reduce its scrap estimate by 5%. What would the percent change in the requirement for each input be? What significance can this have on the process designer’s decision making process? (Hint: There are two ways of looking at this problem,
Part A is produced on machine 1 and then machine 2. One unit of Part A is assembled with three units of Part B, which is produced on machine 3, in assembly station 4. Machine 1 has a scrap factor of 20%, and machine 2 has a scrap factor of 10%. The assembly process has a scrap factor of 15%.
Given the following, what are the machine fractions for machines A, B, and C to produce parts X and Y?Machine A Machine B Machine C Part X standard time 0.15 hr 0.25 hr 0.1 hr Part Y standard time 0.10 hr 0.10 hr 0.15 hr Part X defect estimate 5% 4% 3%Part Y defect estimate 5% 4% 3%Historical
A part requires three processing steps on two machines in the sequence A-B-A. The demand for this part is 10,000 units per year. The company operates six days per week, eight hours per day. Given the following performance data, find the number of each machine needed to meet the demand.Operation
Given the information in Problem 2.16 and the information in the table below, how many machines are needed to perform each operation (round up to nearest integer)?Assume operations 1, 2, and 3 run for 16 hours per day, five days per week. Machine 4 is available for eight hours per day, five days
Given the figure below, operation 4 represents a rework operation on parts that fail inspection upon completion of operation 2.How many units must the process start with in order to meet the required output of 5000 units? 1 d = 5% d = 5% 2 3 5000 Units 4 d = 10% d = 2%
Part X requires machining on a milling machine (operations A and B are required).Find the number of machines required to produce 3000 parts per week. Assume the company will be operating five days per week, 18 hours per day. The following information is known:Note: The milling machine requires tool
Consider Problem 2.13 where, in this case, each process is capable of rework. Given the information in the following table, what is the input required to satisfy a demand of 1,000 units?Process Defect Rate Rework Rate 1 3% 60%2 5% 75%3 7% 80%Suppose that scrap costs are negligible, and rework costs
Consider a simple three-step manufacturing process as illustrated in the given figure.Assuming that demand is 1,000 units, what is the required input to meet demand?You’ll note that the required input is the same if the scrap rates are reversed for processes 1 and 3. Assume that the scrap cost is
A computer recycler sells computer enclosures to a computer remanufacturer. To meet monthly expected demand, the remanufacturer needs 2,000 enclosures. The recycler utilizes a four-step disassembly process with scrap rates given as follows: d1 0.08, d2 0.05, d3 0.05, and d4 0.03. How many
Take the parts list, bill of materials, route sheet, assembly chart, operations process chart, and precedence diagram from Problem 2.10 and give it to another individual unfamiliar with the recipe. Have this individual decompose these charts into a written form of the recipe. Examine how close this
Choose a simple recipe consisting of no more than 10 ingredients. Examine carefully how the recipe is made. Develop a parts list, a bill of materials, a route sheet, an assembly chart, an operations process chart, and a precedence diagram for this recipe so that someone could follow the recipe
State three differences between the assembly chart and the operation process chart.
Develop a bill of materials, an assembly chart, and an operation process chart for a cheeseburger and a taco with everything on it. Identify the components that are purchased and the ones that are prepared internally.
Prepare a summary of the computer-based tools that can be employed in the design of products and processes.
Identify at least five CAD systems available to support the facilities design process. Prepare a comparison of these systems and recommend the best one.
Identify from papers and books at least two companies that are implementing concurrent engineering techniques for integrated product and process design using the team approach. For each company, explain the team composition, techniques used, methodology employed, and results obtained. Did they
Identify from papers and books at least five companies that have used benchmarking and/or quality function deployment to identify competition and customer needs. For each company, describe in detail the methodology employed and results obtained.
Identify from papers and books at least five companies that have designed or redesigned their facilities considering new manufacturing approaches (i.e., multiple receiving docks, decentralized storage areas, cellular manufacturing, kanbans). For each company, describe in detail the methodology
Why is it important to integrate product, process, quality, scheduling, and facilities design decisions? Who should be involved in this integration? Which techniques are available to support this integrated approach?
You have been asked to plan a facility for a hospital. Explain in detail your first step.
How does the issue of time impact the process of facilities planning?
What are the differences between strategic planning and contingency planning?
Explain the impacts of the supply chain on facilities planning.
What are the issues to be addressed in strategic planning for warehousing/distribution?What are the cost and customer services implications?
What are the impacts of automation on facilities planning?
What are the implications of strategic planning on your personal career planning?
What is the impact of facilities planning on the competitiveness of manufacturing facilities?
Develop a set of responses to the following “reasons” for not doing strategic facilities planning:a. There are more critical short-term problems to be solved.b. The right people internally are too busy to be involved in the project.c. The future is too hard to predict, and it will probably
Develop a list of strategic issues that must be addressed in performing facilities planning fora. an airportb. a community collegec. a bankd. a grocery store chaine. a soft drink bottler and distributorf. a library g. an automobile dealership h. a shopping center developer i. a logistics service
Read three articles on strategic planning, summarize the material, and relate it to strategic facilities planning.
Consider the definition of industrial engineering approved by the Institute of Industrial Engineers. Discuss the extent to which the definition applies to facilities planning.
With the aid of at least three references, write a paper on the industrial engineer and architect’s roles in the planning of a facility.
Is facilities planning ever completed for an enterprise? Why or why not?
Describe the procedure you would follow to determine the facilities plan for a new library on your campus.
Chart the facilities planning process fora. a bankb. a university campusc. a distribution centerd. a consulting and engineering office
Evaluate the facilities plan for your campus and list potential changes you would consider if you were asked to replan the campus. Why would you consider these?
What criterion should be utilized to determine the optimal facilities plan?
Assume you are on a job interview and you have listed on your resume a career interest in facilities planning. The firm where you are interviewing is a consulting firm that specializes in problem solving for transportation, communication, and the service industries.React to the following statement
Describe the activities that would be involved in the (a) facilities location, (b) facilities design, and (c) facilities planning of an athletic stadium. Consider baseball, football, soccer, and track and field.
List 10 components of a football stadium facility.
Describe both the planning and operating activities required to conduct a professional football game from the point of view of thea. visiting team’s football coachb. home team quarterbackc. manager of refreshment vendingd. ground crew managere. stadium maintenance manager
Rendering a legal decision on the meaning of policy terms in an insurance contract is a function of which of the following?A. National Association of Insurance Commissioners.B. SEC C. State insurance commissioner.D. State court system.
Chocolate Cake, Inc. is going to have its initial public offering. Which of the following securities acts applies?A. Securities Act of 1933.B. Securities Exchange Act of 1934.C. Insider Trading Act of 1988.D. Investment Company Act of 1940.
The provisions of the Securities Act of 1933 applies to which of the following?A. Issuance of initial public offerings.B. Regulation of securities on the secondary market.C. Trading of securities on exchanges.D. Trading of Treasury bonds.
Kimberly is a personal financial planner who provides integrated financial planning with an emphasis on income tax planning. She is registered with the SEC as an investment adviser. Kimberly wants to sell open-end mutual funds to her clients. Does she have to register with FINRA?A. No, because of
Which of the following is correct under the Investment Advisers Act of 1940?A. Allows for assignment of advisory contracts with a client’s consent.B. Applies only to advisers registered with the SEC.C. Does not contain antifraud provisions.D. It regulates open-end investment companies.
Thomas Wade, CPA/PFS provides Form ADV Part II (Brochure Rule) to all potential clients. Which of the following items of information does not have to appear in the brochure?A. Educational background.B. Fee structure.C. Other business activities.D. Name and address of bank for the investment
Which of the following must be accomplished in order to register as an investment adviser with the SEC?I. File with FINRA.II. File with the state department of insurance.III. File Form ADV Part I.IV. File Form ADV Part II.A. I, II.B. II, III.C. III, IV.D. I, III.
The Investment Advisers Act of 1940 exempts certain entities and individuals from registration as an investment adviser. Which of the following is not excluded?A. Bank.B. Bank holding company.C. Bank holding company investment adviser.D. A broker or dealer whose performance of advisory services is
The SEC enforces all of the following except A. Investment Advisers Act of 1940.B. McCarran-Ferguson Act of 1945.C. Sarbanes-Oxley Act of 2002.D. Securities Act of 1933.
FINRA is a I. Governmental agency.II. Not-for-profit organization.III. Nongovernmental organization.IV. Self-regulatory organization.A. I, II, IV.B. I, III, IV.C. II, III, IV.D. IV.
What personal financial planning resources does FINRA make available to investors?
Download the SEC report Regulation of Investment Advisers by the U.S. Securities and Exchange Commission (March 2013). Other than typical accounting records, what additional records does the SEC require an RIA to maintain?
What are your state’s registration requirements to become an investment adviser firm or an investment adviser representative? What examinations or credentials are required to register?
Download the GAO report Regulatory Coverage Generally Exists for Financial Planners, but Consumer Protection Issues Remain (January 2011). What are the key findings?
What information is available from the Insurance Information Institute on insurance company distribution channels?
Visit your state’s department of insurance, often referred to as the Office of Insurance and Safety Fire Commissioner, and look up your insurance agent. What insurance licenses does your agent have?
When is an employee able to participate in a SEP?A. In the current year, if employee attains age 18 by December B. If the employee performed services for the employer in at least 3 of any 5 preceding years.C. If the eligible employee received the minimum compensation amount in the current year of
Mr. Robert Andrews and Ms. Michelle Stevens are founders and co-owners of Social Media, Inc. Social Media is a C corporation. They each contributed $$50,000$ to the venture when they began 10 years ago. They have a buy-sell agreement. The agreement contains provisions for death, disability, and
Bob Newton is a key employee of Information Solutions, Inc. (IS). Bob has been with IS since 1984 and is about to retire. IS has a very large key employee life insurance contract on Bob, and now that he is retiring, the company no longer needs it. Bob has lost his insurability and is no longer able
Vicki Wilson owns Vicki’s Vettes (VV), an S corporation. VV is an automobile restoration business working exclusively with pre-1968 Chevrolet Corvettes. Her business overhead is $30,000 per month. She is the rainmaker for the business and, without her, there would be a cash flow shortfall. What
Buck and Pat Johnson purchased their principal residence over 10 years ago for $$200,000.$ They have decided to downsize and sell the place this year for $$750,000.$ The Johnsons used the proceeds from the sale of their principal residence to purchase a smaller home for $$250,000.$ What is
If a married couple occupied a principal residence for two out of the past five years and then rented it for three of those five years, are they still able to obtain Section 121 exclusion?A. Yes, they lived in the house for five years.B. No, they must live in the house at least three of the five
Which of the following items qualify as alimony payments pursuant to a separate maintenance decree or a written separation agreement?I. Payments for a mortgage on property owned by the payor spouse but used by the payee spouse.II. Payments of the payee spouse’s rent by payor spouse.III. Payments
Alice Walters was recently divorced from Juan. Juan has custody of their two children, Anjelica and Pete. Alice was ordered to pay $3,000 per month to Juan until their youngest child, Pete, reaches age 18.At that time, the payments are to decrease to $1,000 per month. What portion, if any, is
Greg Watkins owns 100 percent of Speedy Plus Car Wash, Inc. Speedy holds a significant amount of stock of other corporations, mostly other car washes. The other car washes are paying dividends to Speedy. In order to receive the greatest income tax benefit (lowest tax paid), Speedy should elect to
Nate and Tom Williams are brothers. They both enjoy cooking, and all of their friends say that they should open a restaurant. Of course, both will materially participate in the business. They have written a business plan, and they anticipate losses in the first three years until they are up and
On which form or forms would the owner-employee of a C corporation receive notice of taxable income?I. Form 1099-DIV.II. Form W-2.III. Schedule C.IV. Schedule K-1.A. I.B. I, II.C. III.D. III, IV. TABLE 22-1 ADVANTAGES AND DISADVANTAGES OF A SOLE PROPRIETORSHIP ADVANTAGES OF A SOLE PROPRIETORSHIP No
Mr. Roberts wants to achieve financial independence in 20 years. He has guessed that he needs an additional $$500,000$ to fund this goal. He anticipates 7 percent after-tax return on any potential investment. What annual payment should he make to the hypothetical investment?A. $$17,511.46$.B.
The general rise in the level of prices of goods and services is A. An economy.B. The CPI.C. The CPI-U.D. Inflation.
The annuity provides the highest income stream to the individual.A. Installment refund annuity.B. Joint and survivor annuity.C. Period certain.D. Single life annuity.
The key to successful planning for financial independence is to A. Accurately estimate an inheritance.B. Accurately estimate lifestyle needs.C. Accurately estimate the Consumer Price Index.D. Accurately estimate the economy.

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Essentials Of Personal Financial Planning 1st Edition Susan M. Tillery, Thomas N. Tillery - Solutions

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