Number of workers to be hired and duration to hire. Concept Introduction : Inventory management is the process of managing the company’s stock so that there are no stock-outs. It includes ordering, storing, and managing the stock.

Question

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Answer 1

Question

Chapter 11, Problem 30P

a

Summary Introduction

Interpretation: Number of workers to be hired and duration to hire.

Concept Introduction: Inventory management is the process of managing the company’s stock so that there are no stock-outs. It includes ordering, storing, and managing the stock.

a

Expert Solution

Explanation of Solution

Required unit of production = 2,000,000

Number of workers employed = 500

Time required to assemble one unit = 3 minutes

Workers' production rate= 603 = 20 units per hourMonthly capacity=160×20=3,200 units

Capacity needed to produce 2000000 units, which is planned.

= 2,000,0003,200 = 625

Since 500 workers are presently available, Number of workers to be hired is 125.

Month	Aug	Sept	Oct	Nov	Dec
Demand	1,000,000	1,000,000	2,000,000	4,000,000	1,000,000
Production plan	2,000,000	2,000,000	2,000,000	2,000,000	2,000,000
Beginning inventory	0	1,000,000	2,000,000	2,000,000	0
Ending inventory	1,000,000	2,000,000	2,000,000	0	1,000,000
Average inventory	500,000	1,500,000	2,000,000	1,000,000	500,000

b

Summary Introduction

Interpretation: Quantity of inventory at the end of October.

Concept Introduction: Materials Requirement Planning is a process in which planning is made for the requirement of raw material required for the manufacturing of the finished product.

b

Expert Solution

Explanation of Solution

The given schedule is calculated in ‘a’ part which shows inventory at the end of October will be 2 million when 125 workers are hired.

Month	Aug	Sept	Oct	Nov	Dec
Demand	1,000,000	1,000,000	2,000,000	4,000,000	1,000,000
Production plan	2,000,000	2,000,000	2,000,000	2,000,000	2,000,000
Beginning inventory	0	1,000,000	2,000,000	2,000,000	0
Ending inventory	1,000,000	2,000,000	2,000,000	0	1,000,000
Average inventory	500,000	1,500,000	2,000,000	1,000,000	500,000

At the end of October, 2 million inventory will be held.

c

Summary Introduction

Interpretation: Average inventory level of each month.

Concept Introduction: Materials Requirement Planning is a process in which planning is made for the requirement of raw material required for the manufacturing of the finished product.

c

Expert Solution

Explanation of Solution

Average inventory for august month:

= Beginning inventory+ Ending inventory2

= 0+ 1M2 = 0.5 M

Average inventory for September month:

= Beginning inventory+ Ending inventory2

= + 1M+ 2M2 = 1.5 M

Average inventory for October month:

= Beginning inventory+ Ending inventory2

= 2M+ 2M2 = 2 M

Average inventory for November month:

= Beginning inventory+ Ending inventory2

= 2M+02 = 1M

Average inventory for December month:

= Beginning inventory+ Ending inventory2

= 0+12 = 0.5M

Note: M stands for millions.

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Answer 2

Question

Chapter 11, Problem 30P

a

Summary Introduction

Interpretation: Number of workers to be hired and duration to hire.

Concept Introduction: Inventory management is the process of managing the company’s stock so that there are no stock-outs. It includes ordering, storing, and managing the stock.

a

Expert Solution

Explanation of Solution

Required unit of production = 2,000,000

Number of workers employed = 500

Time required to assemble one unit = 3 minutes

Workers' production rate= 603 = 20 units per hourMonthly capacity=160×20=3,200 units

Capacity needed to produce 2000000 units, which is planned.

= 2,000,0003,200 = 625

Since 500 workers are presently available, Number of workers to be hired is 125.

Month	Aug	Sept	Oct	Nov	Dec
Demand	1,000,000	1,000,000	2,000,000	4,000,000	1,000,000
Production plan	2,000,000	2,000,000	2,000,000	2,000,000	2,000,000
Beginning inventory	0	1,000,000	2,000,000	2,000,000	0
Ending inventory	1,000,000	2,000,000	2,000,000	0	1,000,000
Average inventory	500,000	1,500,000	2,000,000	1,000,000	500,000

b

Summary Introduction

Interpretation: Quantity of inventory at the end of October.

Concept Introduction: Materials Requirement Planning is a process in which planning is made for the requirement of raw material required for the manufacturing of the finished product.

b

Expert Solution

Explanation of Solution

The given schedule is calculated in ‘a’ part which shows inventory at the end of October will be 2 million when 125 workers are hired.

Month	Aug	Sept	Oct	Nov	Dec
Demand	1,000,000	1,000,000	2,000,000	4,000,000	1,000,000
Production plan	2,000,000	2,000,000	2,000,000	2,000,000	2,000,000
Beginning inventory	0	1,000,000	2,000,000	2,000,000	0
Ending inventory	1,000,000	2,000,000	2,000,000	0	1,000,000
Average inventory	500,000	1,500,000	2,000,000	1,000,000	500,000

At the end of October, 2 million inventory will be held.

c

Summary Introduction

Interpretation: Average inventory level of each month.

Concept Introduction: Materials Requirement Planning is a process in which planning is made for the requirement of raw material required for the manufacturing of the finished product.

c

Expert Solution

Explanation of Solution

Average inventory for august month:

= Beginning inventory+ Ending inventory2

= 0+ 1M2 = 0.5 M

Average inventory for September month:

= Beginning inventory+ Ending inventory2

= + 1M+ 2M2 = 1.5 M

Average inventory for October month:

= Beginning inventory+ Ending inventory2

= 2M+ 2M2 = 2 M

Average inventory for November month:

= Beginning inventory+ Ending inventory2

= 2M+02 = 1M

Average inventory for December month:

= Beginning inventory+ Ending inventory2

= 0+12 = 0.5M

Note: M stands for millions.

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Answer 3

Question

Chapter 11, Problem 30P

a

Summary Introduction

Interpretation: Number of workers to be hired and duration to hire.

Concept Introduction: Inventory management is the process of managing the company’s stock so that there are no stock-outs. It includes ordering, storing, and managing the stock.

a

Expert Solution

Explanation of Solution

Required unit of production = 2,000,000

Number of workers employed = 500

Time required to assemble one unit = 3 minutes

Workers' production rate= 603 = 20 units per hourMonthly capacity=160×20=3,200 units

Capacity needed to produce 2000000 units, which is planned.

= 2,000,0003,200 = 625

Since 500 workers are presently available, Number of workers to be hired is 125.

Month	Aug	Sept	Oct	Nov	Dec
Demand	1,000,000	1,000,000	2,000,000	4,000,000	1,000,000
Production plan	2,000,000	2,000,000	2,000,000	2,000,000	2,000,000
Beginning inventory	0	1,000,000	2,000,000	2,000,000	0
Ending inventory	1,000,000	2,000,000	2,000,000	0	1,000,000
Average inventory	500,000	1,500,000	2,000,000	1,000,000	500,000

b

Summary Introduction

Interpretation: Quantity of inventory at the end of October.

Concept Introduction: Materials Requirement Planning is a process in which planning is made for the requirement of raw material required for the manufacturing of the finished product.

b

Expert Solution

Explanation of Solution

The given schedule is calculated in ‘a’ part which shows inventory at the end of October will be 2 million when 125 workers are hired.

Month	Aug	Sept	Oct	Nov	Dec
Demand	1,000,000	1,000,000	2,000,000	4,000,000	1,000,000
Production plan	2,000,000	2,000,000	2,000,000	2,000,000	2,000,000
Beginning inventory	0	1,000,000	2,000,000	2,000,000	0
Ending inventory	1,000,000	2,000,000	2,000,000	0	1,000,000
Average inventory	500,000	1,500,000	2,000,000	1,000,000	500,000

At the end of October, 2 million inventory will be held.

c

Summary Introduction

Interpretation: Average inventory level of each month.

Concept Introduction: Materials Requirement Planning is a process in which planning is made for the requirement of raw material required for the manufacturing of the finished product.

c

Expert Solution

Explanation of Solution

Average inventory for august month:

= Beginning inventory+ Ending inventory2

= 0+ 1M2 = 0.5 M

Average inventory for September month:

= Beginning inventory+ Ending inventory2

= + 1M+ 2M2 = 1.5 M

Average inventory for October month:

= Beginning inventory+ Ending inventory2

= 2M+ 2M2 = 2 M

Average inventory for November month:

= Beginning inventory+ Ending inventory2

= 2M+02 = 1M

Average inventory for December month:

= Beginning inventory+ Ending inventory2

= 0+12 = 0.5M

Note: M stands for millions.

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Answer 4

Question

Chapter 11, Problem 30P

a

Summary Introduction

Interpretation: Number of workers to be hired and duration to hire.

Concept Introduction: Inventory management is the process of managing the company’s stock so that there are no stock-outs. It includes ordering, storing, and managing the stock.

a

Expert Solution

Explanation of Solution

Required unit of production = 2,000,000

Number of workers employed = 500

Time required to assemble one unit = 3 minutes

Workers' production rate= 603 = 20 units per hourMonthly capacity=160×20=3,200 units

Capacity needed to produce 2000000 units, which is planned.

= 2,000,0003,200 = 625

Since 500 workers are presently available, Number of workers to be hired is 125.

Month	Aug	Sept	Oct	Nov	Dec
Demand	1,000,000	1,000,000	2,000,000	4,000,000	1,000,000
Production plan	2,000,000	2,000,000	2,000,000	2,000,000	2,000,000
Beginning inventory	0	1,000,000	2,000,000	2,000,000	0
Ending inventory	1,000,000	2,000,000	2,000,000	0	1,000,000
Average inventory	500,000	1,500,000	2,000,000	1,000,000	500,000

b

Summary Introduction

Interpretation: Quantity of inventory at the end of October.

Concept Introduction: Materials Requirement Planning is a process in which planning is made for the requirement of raw material required for the manufacturing of the finished product.

b

Expert Solution

Explanation of Solution

The given schedule is calculated in ‘a’ part which shows inventory at the end of October will be 2 million when 125 workers are hired.

Month	Aug	Sept	Oct	Nov	Dec
Demand	1,000,000	1,000,000	2,000,000	4,000,000	1,000,000
Production plan	2,000,000	2,000,000	2,000,000	2,000,000	2,000,000
Beginning inventory	0	1,000,000	2,000,000	2,000,000	0
Ending inventory	1,000,000	2,000,000	2,000,000	0	1,000,000
Average inventory	500,000	1,500,000	2,000,000	1,000,000	500,000

At the end of October, 2 million inventory will be held.

c

Summary Introduction

Interpretation: Average inventory level of each month.

Concept Introduction: Materials Requirement Planning is a process in which planning is made for the requirement of raw material required for the manufacturing of the finished product.

c

Expert Solution

Explanation of Solution

Average inventory for august month:

= Beginning inventory+ Ending inventory2

= 0+ 1M2 = 0.5 M

Average inventory for September month:

= Beginning inventory+ Ending inventory2

= + 1M+ 2M2 = 1.5 M

Average inventory for October month:

= Beginning inventory+ Ending inventory2

= 2M+ 2M2 = 2 M

Average inventory for November month:

= Beginning inventory+ Ending inventory2

= 2M+02 = 1M

Average inventory for December month:

= Beginning inventory+ Ending inventory2

= 0+12 = 0.5M

Note: M stands for millions.

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Answer 5

Chapter 11, Problem 30P

a

Summary Introduction

Interpretation: Number of workers to be hired and duration to hire.

Concept Introduction: Inventory management is the process of managing the company’s stock so that there are no stock-outs. It includes ordering, storing, and managing the stock.

a

Expert Solution

Explanation of Solution

Required unit of production = 2,000,000

Number of workers employed = 500

Time required to assemble one unit = 3 minutes

Workers' production rate= 603 = 20 units per hourMonthly capacity=160×20=3,200 units

Capacity needed to produce 2000000 units, which is planned.

= 2,000,0003,200 = 625

Since 500 workers are presently available, Number of workers to be hired is 125.

Month	Aug	Sept	Oct	Nov	Dec
Demand	1,000,000	1,000,000	2,000,000	4,000,000	1,000,000
Production plan	2,000,000	2,000,000	2,000,000	2,000,000	2,000,000
Beginning inventory	0	1,000,000	2,000,000	2,000,000	0
Ending inventory	1,000,000	2,000,000	2,000,000	0	1,000,000
Average inventory	500,000	1,500,000	2,000,000	1,000,000	500,000

b

Summary Introduction

Interpretation: Quantity of inventory at the end of October.

Concept Introduction: Materials Requirement Planning is a process in which planning is made for the requirement of raw material required for the manufacturing of the finished product.

b

Expert Solution

Explanation of Solution

The given schedule is calculated in ‘a’ part which shows inventory at the end of October will be 2 million when 125 workers are hired.

Month	Aug	Sept	Oct	Nov	Dec
Demand	1,000,000	1,000,000	2,000,000	4,000,000	1,000,000
Production plan	2,000,000	2,000,000	2,000,000	2,000,000	2,000,000
Beginning inventory	0	1,000,000	2,000,000	2,000,000	0
Ending inventory	1,000,000	2,000,000	2,000,000	0	1,000,000
Average inventory	500,000	1,500,000	2,000,000	1,000,000	500,000

At the end of October, 2 million inventory will be held.

c

Summary Introduction

Interpretation: Average inventory level of each month.

Concept Introduction: Materials Requirement Planning is a process in which planning is made for the requirement of raw material required for the manufacturing of the finished product.

c

Expert Solution

Explanation of Solution

Average inventory for august month:

= Beginning inventory+ Ending inventory2

= 0+ 1M2 = 0.5 M

Average inventory for September month:

= Beginning inventory+ Ending inventory2

= + 1M+ 2M2 = 1.5 M

Average inventory for October month:

= Beginning inventory+ Ending inventory2

= 2M+ 2M2 = 2 M

Average inventory for November month:

= Beginning inventory+ Ending inventory2

= 2M+02 = 1M

Average inventory for December month:

= Beginning inventory+ Ending inventory2

= 0+12 = 0.5M

Note: M stands for millions.

Answer 6

Chapter 11, Problem 30P

a

Summary Introduction

Interpretation: Number of workers to be hired and duration to hire.

Concept Introduction: Inventory management is the process of managing the company’s stock so that there are no stock-outs. It includes ordering, storing, and managing the stock.

a

Expert Solution

Explanation of Solution

Required unit of production = 2,000,000

Number of workers employed = 500

Time required to assemble one unit = 3 minutes

Workers' production rate= 603 = 20 units per hourMonthly capacity=160×20=3,200 units

Capacity needed to produce 2000000 units, which is planned.

= 2,000,0003,200 = 625

Since 500 workers are presently available, Number of workers to be hired is 125.

Month	Aug	Sept	Oct	Nov	Dec
Demand	1,000,000	1,000,000	2,000,000	4,000,000	1,000,000
Production plan	2,000,000	2,000,000	2,000,000	2,000,000	2,000,000
Beginning inventory	0	1,000,000	2,000,000	2,000,000	0
Ending inventory	1,000,000	2,000,000	2,000,000	0	1,000,000
Average inventory	500,000	1,500,000	2,000,000	1,000,000	500,000

Answer 7

Chapter 11, Problem 30P

a

Summary Introduction

Interpretation: Number of workers to be hired and duration to hire.

Concept Introduction: Inventory management is the process of managing the company’s stock so that there are no stock-outs. It includes ordering, storing, and managing the stock.

Answer 8

a

Expert Solution

Explanation of Solution

Required unit of production = 2,000,000

Number of workers employed = 500

Time required to assemble one unit = 3 minutes

Workers' production rate= 603 = 20 units per hourMonthly capacity=160×20=3,200 units

Capacity needed to produce 2000000 units, which is planned.

= 2,000,0003,200 = 625

Since 500 workers are presently available, Number of workers to be hired is 125.

Month	Aug	Sept	Oct	Nov	Dec
Demand	1,000,000	1,000,000	2,000,000	4,000,000	1,000,000
Production plan	2,000,000	2,000,000	2,000,000	2,000,000	2,000,000
Beginning inventory	0	1,000,000	2,000,000	2,000,000	0
Ending inventory	1,000,000	2,000,000	2,000,000	0	1,000,000
Average inventory	500,000	1,500,000	2,000,000	1,000,000	500,000

Answer 9

a

Expert Solution

Answer 10

a

Expert Solution

Answer 11

Expert Solution

Answer 12

b

Summary Introduction

Interpretation: Quantity of inventory at the end of October.

Concept Introduction: Materials Requirement Planning is a process in which planning is made for the requirement of raw material required for the manufacturing of the finished product.

b

Expert Solution

Explanation of Solution

The given schedule is calculated in ‘a’ part which shows inventory at the end of October will be 2 million when 125 workers are hired.

Month	Aug	Sept	Oct	Nov	Dec
Demand	1,000,000	1,000,000	2,000,000	4,000,000	1,000,000
Production plan	2,000,000	2,000,000	2,000,000	2,000,000	2,000,000
Beginning inventory	0	1,000,000	2,000,000	2,000,000	0
Ending inventory	1,000,000	2,000,000	2,000,000	0	1,000,000
Average inventory	500,000	1,500,000	2,000,000	1,000,000	500,000

At the end of October, 2 million inventory will be held.

Answer 13

b

Summary Introduction

Interpretation: Quantity of inventory at the end of October.

Concept Introduction: Materials Requirement Planning is a process in which planning is made for the requirement of raw material required for the manufacturing of the finished product.

Answer 14

b

Expert Solution

Explanation of Solution

The given schedule is calculated in ‘a’ part which shows inventory at the end of October will be 2 million when 125 workers are hired.

Month	Aug	Sept	Oct	Nov	Dec
Demand	1,000,000	1,000,000	2,000,000	4,000,000	1,000,000
Production plan	2,000,000	2,000,000	2,000,000	2,000,000	2,000,000
Beginning inventory	0	1,000,000	2,000,000	2,000,000	0
Ending inventory	1,000,000	2,000,000	2,000,000	0	1,000,000
Average inventory	500,000	1,500,000	2,000,000	1,000,000	500,000

At the end of October, 2 million inventory will be held.

Answer 15

b

Expert Solution

Answer 16

b

Expert Solution

Answer 17

Expert Solution

Answer 18

c

Summary Introduction

Interpretation: Average inventory level of each month.

Concept Introduction: Materials Requirement Planning is a process in which planning is made for the requirement of raw material required for the manufacturing of the finished product.

c

Expert Solution

Explanation of Solution

Average inventory for august month:

= Beginning inventory+ Ending inventory2

= 0+ 1M2 = 0.5 M

Average inventory for September month:

= Beginning inventory+ Ending inventory2

= + 1M+ 2M2 = 1.5 M

Average inventory for October month:

= Beginning inventory+ Ending inventory2

= 2M+ 2M2 = 2 M

Average inventory for November month:

= Beginning inventory+ Ending inventory2

= 2M+02 = 1M

Average inventory for December month:

= Beginning inventory+ Ending inventory2

= 0+12 = 0.5M

Note: M stands for millions.

Answer 19

c

Summary Introduction

Interpretation: Average inventory level of each month.

Concept Introduction: Materials Requirement Planning is a process in which planning is made for the requirement of raw material required for the manufacturing of the finished product.

Answer 20

c

Expert Solution

Explanation of Solution

Average inventory for august month:

= Beginning inventory+ Ending inventory2

= 0+ 1M2 = 0.5 M

Average inventory for September month:

= Beginning inventory+ Ending inventory2

= + 1M+ 2M2 = 1.5 M

Average inventory for October month:

= Beginning inventory+ Ending inventory2

= 2M+ 2M2 = 2 M

Average inventory for November month:

= Beginning inventory+ Ending inventory2

= 2M+02 = 1M

Average inventory for December month:

= Beginning inventory+ Ending inventory2

= 0+12 = 0.5M

Note: M stands for millions.

Answer 21

c

Expert Solution

Answer 22

c

Expert Solution

Answer 23

Expert Solution

Answer 24

Ch. 11 - Prob. 1DQ Ch. 11 - Prob. 2DQ Ch. 11 - Prob. 3DQ Ch. 11 - Prob. 4DQ Ch. 11 - Prob. 1P Ch. 11 - Prob. 2P Ch. 11 - Prob. 3P Ch. 11 - Prob. 4P Ch. 11 - Prob. 5P Ch. 11 - Prob. 6P

Number of workers to be hired and duration to hire. Concept Introduction : Inventory management is the process of managing the company’s stock so that there are no stock-outs. It includes ordering, storing, and managing the stock.

Concept explainers

Interpretation: Number of workers to be hired and duration to hire.

Concept Introduction: Inventory management is the process of managing the company’s stock so that there are no stock-outs. It includes ordering, storing, and managing the stock.

Explanation of Solution

Interpretation: Quantity of inventory at the end of October.

Concept Introduction: Materials Requirement Planning is a process in which planning is made for the requirement of raw material required for the manufacturing of the finished product.

Explanation of Solution

Interpretation: Average inventory level of each month.

Concept Introduction: Materials Requirement Planning is a process in which planning is made for the requirement of raw material required for the manufacturing of the finished product.

Explanation of Solution

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Chapter 11 Solutions

Number of workers to be hired and duration to hire. Concept Introduction : Inventory management is the process of managing the company’s stock so that there are no stock-outs. It includes ordering, storing, and managing the stock.

Concept explainers

Interpretation: Number of workers to be hired and duration to hire. Concept Introduction: Inventory management is the process of managing the company’s stock so that there are no stock-outs. It includes ordering, storing, and managing the stock.

Explanation of Solution

Interpretation: Quantity of inventory at the end of October. Concept Introduction: Materials Requirement Planning is a process in which planning is made for the requirement of raw material required for the manufacturing of the finished product.

Explanation of Solution

Interpretation: Average inventory level of each month. Concept Introduction: Materials Requirement Planning is a process in which planning is made for the requirement of raw material required for the manufacturing of the finished product.

Explanation of Solution

Want to see more full solutions like this?

Chapter 11 Solutions

Interpretation: Number of workers to be hired and duration to hire.

Concept Introduction: Inventory management is the process of managing the company’s stock so that there are no stock-outs. It includes ordering, storing, and managing the stock.

Interpretation: Quantity of inventory at the end of October.

Concept Introduction: Materials Requirement Planning is a process in which planning is made for the requirement of raw material required for the manufacturing of the finished product.

Interpretation: Average inventory level of each month.

Concept Introduction: Materials Requirement Planning is a process in which planning is made for the requirement of raw material required for the manufacturing of the finished product.