Traditional and just-in-time manufacturing methods

Assignment Help Accounting Basics
Reference no: EM13150308

Madison Machining Company machines metal parts for the automotive industry. Under the traditional manufacturing approach, the parts are machined through two processes: milling and finishing. Parts are produced in batch sizes of 90 parts. A part requires 6 minutes in milling and 8 minutes in finishing. The move time between the two operations for a complete batch is 10 minutes.

Under the just-in-time philosophy, the part is produced in a cell that includes both the milling and finishing operations. The operating time is unchanged; however, the batch size is reduced to 5 parts and the move time is eliminated.

Determine the value-added, non-value-added, total lead time, and the value-added ratio under the traditional and just-in-time manufacturing methods. Round whole percentages to one decimal place.

Traditional Philosophy Just-in-Time Philosophy

Value-added time min min

Non-value-added time min min

Total lead time min min

Value-added ratio (as a percent) % %

Reference no: EM13150308

Questions Cloud

How would you paraphrase the definition of equilibrium price : How would you paraphrase the definition of equilibrium price?Equilibrium price occurs when supply and demand quantities meet.Equilibrium price occurs when price and demand are consistent.Equilibrium price is established when buyers' and sellers' pric..
What is the change in gdp holding everything else constant : If the tax multiplier is -1.5 and a $200 billion tax increase is implemented, what is the change in GDP, holding everything else constant?
What are the sequence of igneous processes : What are the sequence of igneous processes from which a change of mantle rock to granite containing quartz crystals occurs?
Find confidence interval-population mean sample of packages : She takes a sample of 36 packages, and found that the mean weight is 3.01 pounds, with a standard deviation of .03 pounds. Determine a 95% confidence interval for the population mean.
Traditional and just-in-time manufacturing methods : Determine the value-added, non-value-added, total lead time, and the value-added ratio under the traditional and just-in-time manufacturing methods. Round whole percentages to one decimal place.
Explain using this method how affect retailer stock control : Give an example of the type of retailer that might use this method. Explain how using this method would affect a retailer’s stock control.
Compare the magnitude of the percentage in rental on capital : Compare the magnitude of the percentage in the rental on capital with percentage change in wage in part 1. Use notation format.
Find standard deviation for the distribution for survey : A recent survey by the insurance company showed the following probabilities for the number of bedrooms in each insured home. Find the standard deviation for the distribution.
How does competition affect community structure : How does competition affect community structure?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd