BUSINESS COLLEGE

The average lead time of a unit of product through a manufacturing station is 18 minutes. The average work in process inventory at this station has been 30 pieces. What is the production rate?a. 3.0 pieces/min
b. 0.33 pieces/min
c. 1.66 pieces/min
d. 0.83 pieces/min

Answers

Answer 1
Answer:

Answer:

Production rate = 1.66 pieces/min (Approx)

Explanation:

Given:

Average lead time = 18 minutes

Average work in process inventory = 30 pieces

Find:

Production rate

Computation:

Production rate = Average work in process inventory/Average lead time

Production rate = 30/18

Production rate = 1.66 pieces/min (Approx)

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The Fed buys​ $20,000 of government securities. The desired reserve ratio is 5 percent and the currency drain is zero. What will be the change in the quantity of​ money?

Answers

Answer:

The answer is $400,000

Explanation:

Quantity theory of money states that the quantity of money is directly proportional total spending in an economy.

Change in quantity of money = new deposits (which can also be new security) ÷ reserve requirements

The new security is $20,000

reserve requirements is 5 percent

Change in quantity of money is:

$20,000 / 0.05

=$400,000

Roman loves corn bread. He buys corn meal and wheat flour in order to make corn bread. His recipe calls for two cups of corn meal and one cup of flour for each batch that he bakes. More corn bread is better for Roman. He can bake fractions of a batch, but has no use for corn meal or flour that is left over. What of the following is Roman’s utility function on cups of corn meal, denoted by c, and cups of flour, denoted by f?(A) U(c,f)=min{c,2f}
(B) U(c,f)=min{2c,f}
(C) U(c,f)=min{2c,3f}
(D) U(c,f)=min{3c,sf}
(D) U(c,f)=2c+3f

Answers

Answer:

(B) U(c,f)=min{2c,f}

Explanation:

This is an example of Leontif utility function which states that the preferences of a consumer is to a constant ratio of quantities of two or more goods in his demand bundles and having an extra unit of a single good will not increase the utility of the consumer and will make the extra unit to waste. But having more units of all the goods in the demand bundle which maintain the constant ratio will increase the utility of the consumer.

A good example usually used in economics is that of a pair of shoe. Having one right and one left of a type of shoe gives a consumer utility at a constant ratio of 1:1, and increasing each leg by multiple of one at every point in time will increase the utility of the consumer, while increasing just only one makes the utility not to change. For instance, having only two left shoe will not give the consumer any utility and make both the left shoe useless.

In the question, the ratio of cups of corn meal, denoted by c, and cups of flour, denoted by f, is 2:1. This implies that to increase the utility of the consumer, c has to increase by a multiple of 2 at every point in time while f has to increase by one at the same point in time to maintain the constant ratio of 2:1. Increasing only c by 2 or only f by 1 will maintain the constant ratio and it will lead to a waste of the increased unit of the affected commodity.

Therefore, option (B) U(c,f)=min{2c,f} is the correct answer that gives a constant ratio of 2:1 = 2c:f.

I wish you the best.

In 2009, a computer manufacturer had a labor productivity of 3.33 units per labor hour. In 2010, the computer manufacturer had a labor productivity of 4.27 units per labor hour. The percent change in labor productivity is:

Answers

Answer:

The percent change in labor productivity is 22%

Explanation:

Listing out the parameters given:

labor productivity (2009) = 3.33 units/hr,

labor productivity (2010) = 4.27 units/hr

To calculate the percent change in labor productivity, we have it thu:

percent change in labor productivity = [labor productivity (2010) - labor productivity (2009)] ÷ labor productivity (2010)

Let's assume 'Labor productivity' = LP

%Δ in LP = (LP _2_0_1_0 - LP _2_0_0_9)/(LP _2_0_1_0) * 100% =(4.27 - 3.33)/(4.27) * 100%

%Δ in LP = (0.94)/(4.27) * 100% = 22%

%Δ in LP = 22%

This shows an increase in computer manufacturing from 2009 to 2010 by 22%

Answer:

percentage change in labor productivity = 28.23%

Explanation:

In 2009 the computer manufacturer had a labor productivity of 3.33 units per labor hour.  In 2010 the productivity increased to 4.27 units per labor hour.

The percentage change in labor productivity can be calculated  as

change in labor productivity = New labor productivity - Old labor productivity

percentage change in labor productivity = change in labor productivity/old labor productivity  × 100

Old labor productivity = 3.33 unit

New labor productivity = 4.27 unit

change in labor productivity = 4.27 - 3.33 = 0.94

percentage change in labor productivity = 0.94/3.33  × 100

percentage change in labor productivity = 94/3.33

percentage change in labor productivity = 28.2282282282

percentage change in labor productivity = 28.23%

The growing demand for biofuels in the U.S. that has led to a growing supply of soybeans from Brazil is an example of all of the following EXCEPT ________ economies.

Answers

Answer:

Localized economics

Explanation:

Localized economics :

Localisation implies the grouping of a specific industry in a specific region, region or area. Localisation is identified with the regional division of work, that is, specialization by regions or areas.  

A specific town or district will in general have practical experience in the creation of a specific item.  

These are benefits for a firm got from the nearness of firms having a place with a similar industry in a region. Urbanization economies are those advantages acquired by a firm emerging from the size of a region and the decent variety of its economy.

Sienna Manufacturing uses a two-step process to make a metal part. The first step involves cutting with a machine that requires a 40-minute setup time before the production of each batch. The cutting takes 30 minutes per part. The second step is polishing the parts from cutting. The polishing takes 40 minutes per part, and the polishing machine requires no setup. Assume demand is unlimited. What is the ideal batch size of the parts?a. 10
b. 8
c. 4
d. 2

Answers

The correct answer is:

c. 4

The adjusted trial balance of Warbocks Corporation at December 31, 2017 includes the following accounts: Retained Earnings $12,600; Dividends $5,000; Service Revenue $30,000; Salaries and Wages Expense $15,000; Insurance Expense $2,000; Rent Expense $4,500; Supplies Expense $500; and Depreciation Expense $1,000. Prepare a retained earnings statement for the year.

Answers

Answer:

                                            Warbocks Corporation

Statement of retained earnings for the year ended December 31, 2017

                                                                                      Amount in $

Opening retained earnings                                           12,600

Net income for the year                                                  7,000

Dividend                                                                         (5,000)

Closing retained earnings                                             14,600

Explanation:

The retained earnings statement shows the movement in the retained earnings balance between the start and end of the year.

This includes the net earnings and dividend paid during the year.

Net income =  $30,000 - $15,000 - $2,000 - $4,500 - $500 - $1,000

= $7,000
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