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Chapter 1: Q6_5OQ (page 142)

Jack Simpson, contract negotiator for Nebula Airframe Company, is currently involved in bidding on a follow-up government contract. In gathering cost data from the first three units, Nebula produced under a research and development contract, he found that the first unit took 2,000 labor hours, the second took 1,800 labor hours, and the third took 1,692 hours.In a contract for three more units, how many labor hours should Simpson plan for?

Short Answer

Expert verified

Simpson's plan should for 4,709.6 labor hours.

Step by step solution

01

Introduction

The learning curve model makes it easier to monitor training progress, boost output, and forecast learners' performance and growth over time. However, the amount of time spent practising an activity and the final performance do not directly correlate.

02

Calculation of labor hours

Unit one labor hour is 2000, 2-unit labor hour is 1800, and 3-unit labor hour is 1692.

Learning rate will be:

(Unit 1) to (Unit2) = 1,800/2,000 = 0.90

(Unit 2) to (Unit3) = 1,692/1,800 =0.94

Average of learning rate = (0.90+0.94)/2 = 90%

= 5.1008 2,000 = 10,201.6

10,201.6 鈥� (2000 + 1800 + 1692) = 4,709.6 Hours

Therefore, labor hours will be4,709.6 hours.

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Question: Two of the efficiency ratios mentioned in the chapter are the receivable turnover ratio and the inventory turnover ratio. While they are two completely separate measures, they are very similar in one way. What is the common thread between these two?

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Always Rain Irrigation, Inc., would like to determine capacity requirements for the next four years. Currently, two production lines are in place for making bronze and plastic sprinklers. Three types of sprinklers are available in both bronze and plastic: 90-degree nozzle sprinklers, 180-degree nozzle sprinklers, and 360-degree nozzle sprinklers. Management has forecasted demand for the next four years as follows:

Yearly Demand

1 (IN 000s)

2 (IN 000s)

3 (IN 000s)

4 (IN 000s)

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32

44

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15

16

17

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Plastic 360

50

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9

10

Bronze 180

3

4

5

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Bronze 360

11

12

15

18

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