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The Academic Company mixes and bottles a high-energy beverage in various container types and sizes for college students. The aggregate forecast for the next four quarters (1 year) in thousands of gallons is as follows:
Table 1
Academic's management makes the following assumptions:
Each employee works 550 standard hours of regular time each quarter.
On average, it takes 27 hours to produce and package 1 unit (1,000 gallons) .
Regular-time labor costs $6.00/hour; overtime labor costs $9.00/hour.
Inventory-holding cost is approximately $4.50/unit (1,000 gallons) per quarter based upon the ending inventory per quarter.
Because of extremely hot weather, there is no beginning inventory available to start Quarter 1.
Management wants a constant work force (no hiring or firing) .
Managers have also decided to always round up the number of employees needed to the next whole integer, i.e., 37.2 yields 38 employees.
______________________________________________________________________________
-Using the data in Table 1, if management will allow a maximum of 30 percent overtime, how many workers are needed for Quarter 3?
Catastrophizes
Catastrophizes refers to the tendency to overestimate the potential negative outcomes of a situation or event.
Irrational Process
Mental activities beyond logical reasoning, often influenced by emotions or subconscious thoughts.
Activating Event
In cognitive-behavioral therapy, an external situation or internal mental event that triggers a chain of thoughts, emotions, and behaviors.
Cognitive Dissonance
The state of having inconsistent thoughts, beliefs, or attitudes, especially as relating to behavioral decisions and attitude change.
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