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Labor costs of an auto mechanic are seldom based on actual hours worked. (Many of us realize this when we have serviced our automobiles). Instead, the amount paid a mechanic is based on an industry average of time estimated to complete a repair job. The repair shop bills the customer for the industry average amount of time at the repair center’s billable cost per hour. This means a customer can pay, for example, $120 for two hours if work on the car when the actual time was only one hour. Many experienced mechanics can complete repair job faster than the industry average. The average data are compiled by engineering studies and surveys conducted in the auto repair business. Assume that you, as the auto shop’s accountant, are asked to complete such a survey for a repair center. The survey calls for objective input, and many questions require detailed cost data and analysis. The mechanics and owners know you have the survey and encourage you to complete it in a way that increases the average billable hours for repair work. For this discussion, describe the direct labor analysis you would undertake to complete this survey and why you would take that particular approach to gathering data.
Dan's Independent Book Store is trying to decide on how many copies of a book to purchase at the start of the upcoming selling season. The book retails at $28.00. The publisher sells the book to Dan at $20.00. Dan will dispose of all of the unsold ..
The following information is available about the operations of a call center. There are three departments in this call center: Sales Department that handles all calls related to placing new orders, and has 10 representatives. Calculate the utilizatio..
A recent study of 23,681 Greeks found that those who took more naps suffered fewer heart attacks. Would you classify this as a positive or negative correlation? Why? Does this mean that if I take more naps I will suffer fewer heart attacks? Why?
Illustrate what activities are involved in the operations function and explain how the operations function interacts with other functional areas of a firm.
Address the following: Define Meetings, Events, Exhibitions, and Conventions. Explain the differences and similarities in business and leisure MEEC (meeting, events, exhibition and conventions) events
Consider the behavior of a not-for-profit hospital maximizing some objective function which may or may not depend on actual profit: Explain in one sentence the constraint facing this hospital’s maximization problem. Draw this constraint graphically.
This assignment will help you develop an understanding about the life cycle of supply chains including the models that are aligned with it and the cost it bears. In addition, you will develop an awareness of the elements of the supply chain that s..
Oscar and Olaf are teachers with a total of 108 exams to grade. They have three days to complete the task. Oscar has 12 hours available and Olaf has 10 hours available to do the first pass of grading on the exams. How many TEEs should Oscar and Olaf ..
Renesmee Corporation is a chemical company. The research and development manager is trying to decide whether or not to develop a new solvent that would work at all conditions.
calculate the average number of customers waiting at LHS. Explain how you would decide the number of seats the LHS facility should have for waiting customers
Formulate a model to the problem and solve determine the optimal schedule for satisfying the demand for the component over the next 6 months.
Describe a non-programmed decision you have made using the rational decision making model. At what point did bounded rationality kick in? What might have happened if you did not accept bounded rationality at some point?
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