2) Tomlinson Furniture has a single lathe for turning the wood for various furniture pieces, including...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
2) Tomlinson Furniture has a single lathe for turning the wood for various furniture pieces, including bedposts, rounded table legs, and other items. Four forms are turned on the lathe and produced in lots for inventory. To simplify scheduling, one lot of each type will be produced in a cycle, which may include idle time. The four products and the relevant information concerning them appears in the following table. Monthly Pieces Requirements Setup Time (in Hours) Unit Cost Production Rate (Units/day) J-55R 150 1.2 $20 140 H-223 165 0.8 $35 220 K-18R 60 2.2 $12 100 Z-344 280 3.1 $45 165 Worker time for setups is valued at $85 per hour, and holding costs are based on a 20 percent annual interest charge. Assume 20 working days per month and 12 months per year for your calculations. a) b) c) d) e) Determine the optimal length of the rotation cycle. What are the optimal lot sizes for each product? What are the percentages of uptime and downtime for the lathe, assuming that it is not used for any other purpose? Draw a graph showing the change in the inventory level over a typical cycle for each product. Discuss why the solution you obtained might not be feasible for the firm, or why it might not be desirable even when it is feasible. 2) Tomlinson Furniture has a single lathe for turning the wood for various furniture pieces, including bedposts, rounded table legs, and other items. Four forms are turned on the lathe and produced in lots for inventory. To simplify scheduling, one lot of each type will be produced in a cycle, which may include idle time. The four products and the relevant information concerning them appears in the following table. Monthly Pieces Requirements Setup Time (in Hours) Unit Cost Production Rate (Units/day) J-55R 150 1.2 $20 140 H-223 165 0.8 $35 220 K-18R 60 2.2 $12 100 Z-344 280 3.1 $45 165 Worker time for setups is valued at $85 per hour, and holding costs are based on a 20 percent annual interest charge. Assume 20 working days per month and 12 months per year for your calculations. a) b) c) d) e) Determine the optimal length of the rotation cycle. What are the optimal lot sizes for each product? What are the percentages of uptime and downtime for the lathe, assuming that it is not used for any other purpose? Draw a graph showing the change in the inventory level over a typical cycle for each product. Discuss why the solution you obtained might not be feasible for the firm, or why it might not be desirable even when it is feasible.
Expert Answer:
Answer rating: 100% (QA)
a To determine the optimal length of the rotation cycle we need to calculate the economic order quantity EOQ for each product The EOQ formula is EOQ sqrt2 Annual Demand Setup Cost Holding Cost per Uni... View the full answer
Related Book For
Posted Date:
Students also viewed these finance questions
-
Image transcription text Module 5 Discussion A' Instructions: This discussion will be completed in two parts, and will give you an opportunity to reect upon this week's content and to interact with...
-
Portray in words what transforms you would have to make to your execution to some degree (a) to accomplish this and remark on the benefits and detriments of this thought.You are approached to compose...
-
Display the TERM_DESC, COURSE_NAME, BLDG_CODE and ROOM for every course evertaught by faculty member John Blanchard. Question 2 Display the S_LAST, S_FIRST, COURSE_NAME, TERM_DESC and GRADE values...
-
Explain why normalized relations may not comprise an efficient physical implementation structure.
-
Find the particular solution corresponding to the tableau. 1. 2. 3. 4. 5. 6. 7. 8. y 10 1 0. 0 12 17 15 20 -1 1 3 11 10 17 1 16 5 -1 3]
-
Determine the slope at \(A\). The A992 steel beam has a moment of inertia of \(I=125\left(10^{6} ight) \mathrm{mm}^{4}\). 18 kNm A -4 m- D B3m 3m 4m m- 18 kNm
-
A partial adjusted trial balance of Gehring Company at January 31, 2014, shows the following. Instructions Answer the following questions, assuming the year begins January 1. (a) If the amount in...
-
Network security protocol project. Diagrams are not needed. Student: THREAT INTERCEPTION PROJECT GRADING RUBRIC Criteria Points Possibl Points Earned Instructor's Comments e Minimum length length...
-
Dulari, a single, member of the military, was stationed at Camp Pendleton, California. On July 1, 2020, her army company transferred her to Washington, DC, as a permanent duty station. Dulari was...
-
What are the marketing- specific core competencies of the sports marketing manager?
-
Discuss how being the quarterback of a football team is similar to being a marketer responsible for implementing and controlling the strategic sports marketing process.
-
What are the guidelines for designing rewards systems?
-
What two measures are typically used during process control?
-
Describe, in detail, how sports marketers estimate the demand for new and existing sports products. What are the three demand factors, and which do you believe is the most critical in estimating...
-
Read the article The Vulnerability of Nuclear Facilities to Cyber Attacks. With the knowledge gleaned from the course, create a mind map or diagram with your defense in depth approach to securing a...
-
Express mass density in kg/m3 and weight density in lb/ft3. 1. Find the mass density of a chunk of rock of mass 215 g that displaces a volume of 75.0 cm3 of water. 2. A block of wood is 55.9 in. x...
-
Following is a residual plot produced by MINITAB. Was it appropriate to compute the least-squares regression line? Explain. Residual -2 -3 1 2 3 5.0 5.5 09 6.0 Residuals Versus x 6.5 X 7.0 7.5 8.0
-
Following is a residual plot produced by MINITAB. Was it appropriate to compute the least-squares regression line? Explain. 50 50 Residuals Versus x 40 40 30 20 20 Residual 10 10 0 -10 -20 20 + -3 -2...
-
The following table presents the ages of the last 10 U.S. presidents and their wives on the first day of their presidencies. a. Compute the least-squares regression line for predicting the presidents...
Study smarter with the SolutionInn App