The McDuff Credit Union advertises their ability to quickly process personal loan applications for their members. As seen in Table 11.18, the loan process requires four steps and takes approximately eight working days to complete.
Personal Loan Approval Process Lead time in Days
Level 1: Final Approval............................1
Level 2: Loan Processing...........................3
Level 3: Pre-Approval...............................2
Level 4: Initial Application Screen................2
Total...................................................8
To process a loan, the Credit Union requires accounting clerks, financial analysts and a branch manager. Table 11.19 provides the time required by each employee classification by process level.

Calculate the total hours of each resource that will be required by McDuff's if the following numbers of final loan approval applications are forecasted by the Credit Union for each working day over the next 12 days.

Transcribed Image Text:

Branch Accounting Financial Personal Loan Approval ProcessClerk Hours Analyst HoursManager Resources Required Per Day Level 1: Final Approval2.00 Level 2: Loan Processing Level 3: Pre-Approval Per Day 0.00 1.50 Hours Per Day 0.00 0.00 0.50 1.00 0.20 0.00 0.00 1.00 1.00 Level 4: Inital Appication Screen 12 3 45 6 7 8 9 10 11 12 7 822 462 16 3 Day of the Month Final Loan Approval5 Applications