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Columbia College Use of the Average Annual Transportation Inventory Questions

Columbia College Use of the Average Annual Transportation Inventory Questions

Question Description

Chapter 11

Question 11.Jake’s Jumbo Jacks has collected the following information to develop a standard time for building jumbo jacks.

Element (in minutes)

Observations

1

2

3

4

5

Cycle 1

2.18

1.25

1.70

2.74

1.57

Cycle 2

2.22

1.23

1.75

2.66

1.55

Cycle 3

2.20

1.29

1.72

2.60

1.57

Cycle 4

2.18

1.30

1.80

2.56

1.57

Cycle 5

2.21

1.26

1.84

2.58

1.59

Cycle 6

2.22

1.22

1.79

2.58

1.61

Cycle 7

2.17

1.26

1.78

2.60

1.57

Cycle 8

2.21

1.26

1.75

2.58

1.61

Cycle 9

2.18

1.30

1.80

2.60

1.55

Cycle 10

2.17

1.28

1.78

2.58

1.57

Rating factor

0.90

0.80

1.10

1.05

0.95

Frequency

1

1

1

1

1

(a) Calculate the mean observed time for each element.

(b) Calculate the normal time for each element.

(c) Using an allowance factor of 20 percent of job time, calculate the standard time for each element and for the entire job.

(d) How many units should be completed each hour if the worker performs at 100 percent of the standard?

(e) How many units should be completed each hour if the worker performs at 90 percent of the standard?

Chapter 12

Question 1 – Elyssa’s Elegant Eveningwear (EEE) needs to ship finished goods from its manufacturing facility to its distribution warehouse. Annual demand for EEE is 2400 gowns. EEE can ship the gowns via regular parcel service (3 days transit time), premium parcel service (1 day transit time), or via public carrier (7 days transit time). Calculate the average annual transportation inventory for each alternative.

Question 3 – Joe, the owner of Genuine Reproductions (GR), a company that manufactures reproduction furniture, is interested in measuring inventory effectiveness. Last year the cost of goods sold at GR was $3,000,000. The average inventory in dollars was $250,000.

(a) Calculate the inventory turnover for GR.

(b) Calculate the weeks of supply. Assume 52 weeks per year.

(c) Calculate the days of supply. Assume that GR operates 5 days per week.

Question 9 – Custom Computers, Inc. assembles custom home computer systems. The heat sinks needed are bought for $12 each and are ordered in quantities of 1300 units. Annual demand is 5200 heat sinks, the annual inventory holding cost rate is $3 per unit, and the cost to place an order is estimated to be $50. Calculate the following:

(a) Average inventory level

(b) The number of orders placed per year

(c) The total annual inventory holding cost

(d) The total annual ordering cost

(e) The total annual cost


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