A quantitative forecast method is recommended

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Reference no: EM132092504

Please help me answer all of this Multiple choice questions.

Use this scenario to answer questions 1-3

Acme, Inc. is a large consumer electronics company. Acme's Account Payable team has 4 employees. Each employee is paid $18 per hour, and works 8 hours per day. Overhead is 1.3 times total labor. The team processes invoices. Every invoice goes through an automated inspection process before it leaves the department. An average of 400 invoices per day pass inspection and are sent to retailers who owe Acme money.

1. In this scenario, the output is ______ and the input is _____.

a. labor hours; labor costs

b. labor and overhead costs; invoices processed

c. invoices which pass inspections; labor and overhead costs

2. WHat is the productivity ratio in this scenario?

a. 0.77 dollars of labor per overhead dollar

b. 0.30 invoices sent per dollar spent

c. 3.31 dollars spent per invoices sent

3. Which action will lead to an increase in productivity i this scenario?

a. Changing the overhead rate to be 1.0 times total labor

b. Hiring a 5th person qt $18/hour who can prosess 100 invoices per day

c. Reducing the number of retailers who purchase Acme's products

4. A quantitative forecast method is recommended when _______.

a. a long -term forecast is needed

b. time is the most appropriate explanatory variable

c. a strategic shift in technology may change market demand

5. For the last three years, the manager at the coffee shop in the MBEB building has noticed a 2% increase in September's year-over-year sales. This increase is an example of _______.

a. seasonality

b. trend

c. cyclicality

6. A low volume, high variety producer of furniture would be most likely to use a ____ layout.

a. process

b. product

c. hybrid

7. Acme manufacturing has a bottleneck machine with an efficiency of 95%, and a capacity utilization of 65%. This indicates_____.

a. An error in calculating capacity utilization

b. A significant difference between effective capacity and design capacity

c. A high rate of defective parts from the machine.

8. In Chapter 8 of The Goal, Johan introduces Alex to the 'language of money', three terms that will help him run his plant. According to Johan's definitions, the steel that the plant uses as a raw material to make finished products is an example of ______.

a. inventory

b. operating expense

c. profit

Reference no: EM132092504

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