Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A TV company produces Smart TVs. The company wants to plan production and work force levels for the next 4 months. Below table shows the

image text in transcribed
A TV company produces Smart TVs. The company wants to plan production and work force levels for the next 4 months. Below table shows the number of workdays and Smart TV demand (in thousands) for each month Thble 1: Number of workdays and demand information Month Workday's Demand 2 3 4 18 20 22 90 55 SO The inventory holding cost per Smart TV per month is calculated as $20 and the company incurs $40 for each Smart TV that is backordered. Additionally, past data shows that 40 workers can produce 100 thousand Smart TVs in 25 days. Currently, the company has 30 workers. a. [9 points) What is the number of workers needed if the company wants to apply a constant workforce plan where stockouts are not allowed? b. [3 points] What is the corresponding daily production rate of the plan in Part(a)? C. [18 points] Suppose that the company cannot have a workforce level greater than 35 workers. The company is interested in a constant workforce level that will have the minimum possible backorder amount Calculate the production, inventory, and backorder amounts for each period for the desired production plan. Calculate inventory holding and backorder costs

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting

Authors: Warren S. Carl

23rd Edition

0324555865, 978-0324555868

More Books

Students also viewed these Accounting questions