Kermit's Hardware's (KH) fixed operating costs are $20.8 million and its variable cost ratio is 0.30. The firm has $10 million i
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Illinois Furniture, Inc., produces all types of office furniture. The "Executive Secretary" is a chair that has been designed using ergonomics to provide comfort during long work hours. The chair sells for $130. There are 480 minutes available during the day, and the average daily demand has been 50 chairs. There are eight tasks
answer : a) 9.6 minutes
b) 5 work stations
c) choose initial task and task with maximum task time
d) 21 minutes
Explanation:
A) cycle time for the production of a chair
cycle time = (production time available per day ) / ( unit demand per day )
= 480 minutes / 50 chairs
= 9.6 minutes ≈ 10 minutes
B) theoretical minimum number of workstations
= Total task / cycle time
where total task = (4 + 7 + 6 + 5 + 6 + 7 + 8 + 6 ) = 49 minutes
cycle time = 9.6 minutes
hence theoretical minimum number of workstations = 49 / 9.6 = 5.1
≈ 5 workstations
C ) Assignment of tasks to workstations
attached below
you will choose the initial/first task and also the task with maximum tax time
D) For the process the total idle time per cycle
total idle time = summation of all idle times for the 8 tasks = 21 minutes
Task A, C = 0 minutes
Task B = 3 minutes
Task E = 4 MINUTES
Task F = 3
Task G = 2
Task H = 4
Task D = 5
Answer: (1) 700 pizzas
(2) Its revenue increases by $2600.
Explanation:
Given that,
price elasticity of demand for his pizza = -4
Percentage change in price = 10%
Initial Quantity, = 500 Pizzas
Elasticity of demand =
-4 =
= -4 × 0.1
= 0.4
= 0.4
∴ = 700
Initial price, = $20
Changed price, = $18
Revenue at t = 0
= 500 × 20 =$10000
Revenue at t = 1
= 700 × 18 = $12600
Therefore, from the above calculations it was seen that his revenue increases by ($12600 - $10000)= $2600 and its sales increases to 700.