A Company Is Interested in Developing a Quarterly Aggregate Production

question 20

Essay

A company is interested in developing a quarterly aggregate production plan but they aren't sure if level capacity or matching demand would be better.They have the following information available regarding their production operation:
Number of working days per quarter = 65 days
Number of hours per day per person = 8 hours
Labor standard to produce one unit = 3 hours
Demand for four quarters respectively:
40,000, 42,000, 41,000, and 44,000 units
a.Using a level capacity plan, how many workers would be needed each quarter?
b.For a level capacity plan, what is the beginning inventory in quarter 2?
c.Using a level capacity plan, in how many quarters are the machine requirements over capacity?
d.Using a matching demand plan, how many workers are needed for quarter 1?
e.How many additional workers are needed in quarter 2 under a matching demand plan?

Grasp the historical context and contributions to the field of statistics, particularly the role of the t-distribution.

Understand the principles and conditions necessary for conducting inferential statistical tests.

Calculate and interpret confidence intervals for means and proportions.

Understand the assumptions underlying different statistical tests and when they are met.

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Definitions:

Audit

A systematic examination of books, accounts, documents, and vouchers of an organization to ascertain how far the financial statements present a true and fair view.

Accuracy

The degree to which the result of a measurement, calculation, or specification conforms to the correct value or a standard.

Financial Statements

Formal records of the financial activities and position of a business, person, or other entity.