Excel template below: Jody wishes to use the forecast just developed to help make an Aggregate Production
Fantastic news! We've Found the answer you've been seeking!
Question:
Excel template below:
Transcribed Image Text:
Jody wishes to use the forecast just developed to help make an Aggregate Production Plan that will then become a Master Production Schedule and drive a Materials Requirements Plan. Jody knows that weekly demand for the gift packs is split evenly between the two samplers (i.c., 50% of demand is Grunge and 50% Deep South). In addition, the following weekly breakdown, in percentage of quarterly forecast amount, has been developed. Help Jody develop an Master Production Schedule for quarter 1 (i.e., figure out how much they will need to produce in which weeks (1-12). Master Production Schedule as % of Sales Forecast Item NW Grunge Sampler Deep South Hooch Sampler 1 0% 0% Item Northwest Grunge Sampler Deep South Hooch Sampler Walla Walla Mud Mt. Hood Dredge Tacoma Terror Tuscaloosa Tornado Meridian. Mothball Augusta Augsbarge 2 5% Labels Boxes 0% 3 15% 20% 0% On Hand 9 15 250 301 350 15 Given the following bill of materials, master production schedule, and inventory master file, generate MRP matrices for each item and identify orders that are past due. If any orders are past due give a recommendation on what course of action to take. If past due, Jody can subcontract the samplers themselves but it costs 4 times the unit cost of each sampler (e.g., subcontract 1 unit NW Grunge = 4*$6). Lower level items can be expedited if need be but the cost is twice as much as the unit cost of the item (e.g., expedite 1 unit Walla Walla Mud=2*$1). Item Master File 250 4 5% 5 257 611 2 Lead Time 1 1 2 1 1 5 10% 2 1 10% 2 2 Weeks in Quarter 6 5% Text 0% 20% 25% Lot Size 1 1 10 75 40 I 7 8 10% 25% 20 40 100 91 $6.00 Unit Manufacturing /Purchasing Cost $6.00 $1.00 $1.00 $0.50 $0.50 9 10% $0.50 $0.50 $0.01 $0.10 10 10% 5% 15% 5% Scheduled Receipts 0 0 0 0 0 0 0 11 0% 0 0 0 12 5% 0% Finance has asked for a preliminary report on how much capital will be needed to purchase the units needed to complete these orders. Using the MRP matrices and the notes provided, calculate the capital costs per period and total for the quarter associated with the schedule you have constructed. There are no capital costs for finished samplers. Inventory holding costs are approximately the same for each lower level item and run about $0.50 per unit per period. There are no inventory costs for the final samplers themselves. Jody also needs to estimate the costs incurred from holding inventory over the quarter. Jody wishes to use the forecast just developed to help make an Aggregate Production Plan that will then become a Master Production Schedule and drive a Materials Requirements Plan. Jody knows that weekly demand for the gift packs is split evenly between the two samplers (i.c., 50% of demand is Grunge and 50% Deep South). In addition, the following weekly breakdown, in percentage of quarterly forecast amount, has been developed. Help Jody develop an Master Production Schedule for quarter 1 (i.e., figure out how much they will need to produce in which weeks (1-12). Master Production Schedule as % of Sales Forecast Item NW Grunge Sampler Deep South Hooch Sampler 1 0% 0% Item Northwest Grunge Sampler Deep South Hooch Sampler Walla Walla Mud Mt. Hood Dredge Tacoma Terror Tuscaloosa Tornado Meridian. Mothball Augusta Augsbarge 2 5% Labels Boxes 0% 3 15% 20% 0% On Hand 9 15 250 301 350 15 Given the following bill of materials, master production schedule, and inventory master file, generate MRP matrices for each item and identify orders that are past due. If any orders are past due give a recommendation on what course of action to take. If past due, Jody can subcontract the samplers themselves but it costs 4 times the unit cost of each sampler (e.g., subcontract 1 unit NW Grunge = 4*$6). Lower level items can be expedited if need be but the cost is twice as much as the unit cost of the item (e.g., expedite 1 unit Walla Walla Mud=2*$1). Item Master File 250 4 5% 5 257 611 2 Lead Time 1 1 2 1 1 5 10% 2 1 10% 2 2 Weeks in Quarter 6 5% Text 0% 20% 25% Lot Size 1 1 10 75 40 I 7 8 10% 25% 20 40 100 91 $6.00 Unit Manufacturing /Purchasing Cost $6.00 $1.00 $1.00 $0.50 $0.50 9 10% $0.50 $0.50 $0.01 $0.10 10 10% 5% 15% 5% Scheduled Receipts 0 0 0 0 0 0 0 11 0% 0 0 0 12 5% 0% Finance has asked for a preliminary report on how much capital will be needed to purchase the units needed to complete these orders. Using the MRP matrices and the notes provided, calculate the capital costs per period and total for the quarter associated with the schedule you have constructed. There are no capital costs for finished samplers. Inventory holding costs are approximately the same for each lower level item and run about $0.50 per unit per period. There are no inventory costs for the final samplers themselves. Jody also needs to estimate the costs incurred from holding inventory over the quarter.
Expert Answer:
Answer rating: 100% (QA)
To calculate the Master Production Schedule MPS and Materials Requirements Plan MRP matrices we will follow these steps Step 1 Calculate the Gross Requirements for each item in the Master Production S... View the full answer
Related Book For
Making Hard Decisions with decision tools
ISBN: 978-0538797573
3rd edition
Authors: Robert Clemen, Terence Reilly
Posted Date:
Students also viewed these accounting questions
-
1a)Use the attached information and the Excel template to complete the balance sheet. Note: Keep your Excel file, because you will build on it for other assignments and the project. In the handouts...
-
Use the "CCC10" Excel template to complete the accounting requirements for Cookie Creations in chapter 10 of the textbook. Work with your team to determine the correct answers. One person should...
-
Mr. Silkwallah established the Fashion Clothing Company (FCC) to market designer clothes. The business was to get designer clothes produced by tailors, exclusively for FCC. FCC provides the following...
-
Review the material in Chapter 4 on customer relationship management (CRM). Then visit the Web sites of Salesforce.com and at least one other provider of CRM software. In about 300 words, critically...
-
A repairman at a local metal working shop services their five drill presses. Service time averages 10 minutes and is exponentially distributed. Machines breakdown after an average of 70 minutes...
-
Describe the force on the charged particles after they enter the magnetic fields shown in Figure Q24.16. (a) Copyri FIGURE Q24.16 (b) 111
-
Gross Profit Method Each of the following gross profit percentages is expressed in terms of cost. 1. 20%. 2. 25%. 3. 3313%. 4. 50%. Indicate the gross profit percentage in terms of sales for each of...
-
An election was held using the Borda count method. There were four candidates (A, B, C, and D) and 115 voters. When the points were tallied (using 4 points for first, 3 points for second, 2 points...
-
1. Staples, following extensive injuries in an automobile accident, was declared mentally incompetent. He imagined himself to be in command of a large army engaged in protecting the country against...
-
'discuss how the courts would determine whether there has been a breach of duty' Does this mean I only talk about if there is a duty of care and if it has been breached? Or do I need to talk about...
-
A plaintif suffered injuries when her bicycle collided with the defendant's motorcycle The plaintf fled a personal injury action against the defendant, alleging that the defendant was operating the...
-
Through his will, Frank arranged to have his 1,000 shares of Ardrox Ltd. transferred to a spousal trust for the benefit of his wife Jutta. The trust indenture specified that Jutta could receive...
-
Ms. Hardin invested $40,000 in three stocks. The first year, stock A paid 6% dividends and increased 3% in value; stock B paid 7% dividends and increased 4% in value; stock C paid 8% dividends and...
-
Finer Pet Foods Corporation (FPF) is a New York Subchapter S corporation that manufactures "human grade" pet food for dogs and cats. FPF offers a whole range of gourmet pet foods and treats, and has...
-
1.The self-employment tax rate in US 2020 is ? 2.The maximum a 35-year-old self-employed taxpayer can contribute to his SEP is the lesser of __________ or 20% of self-employment net profit minus...
-
In the pulley system depicted below, Block A has an upward speed of 8 ft/s and Block B has a downward speed of 7 ft/s. Calculate the velocity of Block C and the velocity of Block A relative to Block...
-
Discuss the information available from the following techniques in the analysis of inorganic pigments used in antique oil paintings: (i) Powder X-ray diffraction, (ii) Infrared and Raman...
-
A continuous random variable X has the following density function: a. Draw a graph of this density. Verify that the area under the density function equals 1. b. A density function such as this one is...
-
Choose a firm in which you are particularly interested, perhaps one where you might like to work. Go to the library and read about this firm, about its industry, and about the relationship of this...
-
The CEO of a chemicals firm must decide whether to develop a new process that has been suggested by the research division. His decision tree is shown in Figure 14.20. There are two sources of...
-
Which of Yellows statements regarding the factors affecting the selection of a trading strategy is correct? A. Statement 1 B. Statement 2 C. Statement 3 Robert Harding is a portfolio manager at...
-
To fill the remaining portion of the ABC order, Yellow is using: A. an arrival price trading strategy. B. a TWAP participation strategy. C. a VWAP participation strategy. Robert Harding is a...
-
Given the parameters for the benchmark given by Harding, Yellow should recommend a benchmark that is based on the: A. arrival price. B. time-weighted average price. C. volume-weighted average price....
Study smarter with the SolutionInn App