A manufacturing firm is considering three potential locations for a new parts manufacturing facility.A consulting firm has assessed three sites based on the four factors supplied by management as critical to the location's success.Given the management-supplied factor weights and the consultant team scores,which location should be selected? Scores are based on 50 = best.
Definitions:
Materials Quantity Variance
The difference between the actual quantity of materials used in production and the standard quantity allowed for the actual output, multiplied by the standard price per unit of materials.
Standard Quantity
The predetermined or budgeted amount of materials expected to be used in the production of a product, based on efficiency and productivity standards.
Variable Overhead Efficiency Variance
The difference between the actual hours taken to produce a good and the standard hours expected, multiplied by the variable overhead rate.
Excessive Inventories
A situation where a company holds more stock items than necessary, leading to increased storage costs and potential wastage.
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