Question1) Throughput is the average number of flow units within the process. TRUE/ FALSE

Question 2) Inventory can take raw material, in-process, or finished goods form. TRUE/ FALSE

Question 3) Imagine a company that manufactures stylish, hand-crafted beardnets for taco truck employees at the rate of 10 a day. By looking around the shop, this manager can see 5 employees, each diligently and lovingly weaving a beardnet from non-GMO, fairly-traded Chilean yak tail hair. How long does it take to produce one breadnet?

0.5

none of the answers

5

not enough info to answer this question

2

Question 4) Imagine 20 customers visit your hip and trendy taco truck every hour. They stick around for half an hour, enjoying your organic, grass-fed shiitake mushroom and carne asada burritos and chatting with each other. At any given time, how many customers would be standing around your food truck?

20

10

60

none of the answers

30

Question 5)Company XYZs annual turns are 12.5, its Cost of Goods Sold (COGS) is $50 Billion, and its gross margin is 33.33%. Recall, gross margin = (Revenue COGS) / Revenue. What is the average inventory it holds in $ Billion? Assume one year is 50 weeks and one week is 7 days.

6

1.33

none of the answers

625

4

Question 6) Joes Beer, Bait, & Tackle Co. is a small chain of fishing tackle stores in northern California. In 2019, the companys revenue was $4,300,000 and its cost of sales was $3,200,000. Assume 52 weeks and 365 days per year. Joe keeps only 5 days-of-supply of inventory on average because much of his inventory is live bait and micro-brew beer, both of which have a short shelf life. What is his annual inventory turns?

none of the answers

10.4

640,000

73

58,904.10