Don convenes the second planning meeting after sending your tables to the committee for review. Glenda begins, "These tables are very helpful for us to consider alternative plans. Good job. Let's begin looking at this aggregate planning problem in more detail." A lively discussion ensues over your well-constructed tables that quickly led to everyone proposing alternatives. Hank begins with the suggestion, "Well, since we are considering costs, let's look at a plan based on a minimum total cost objective. Doesn't that seem a logical direction?" Everyone agreed. Anticipating this request, you respond, "I thought the committee would want to see results from a minimum cost analysis, so I brought a table based on minimum cost." You hand out the following table. Minimum Cost Analysis Table TCC BI Beginning Ending Total Month FTE FTEs Hired FTEs Fired Monthly Monthly Monthly Inventory Inventory Carrying Cost 38.846 0.00 6.92 500 3750 $25,625 2 38.846 0.00 0.00 3750 $9,375 3 43.077 4.23 0.00 0 0 $0 4 44.615 1.54 0.00 0 0 $0 5 44.615 0.00 0.00 0 1000 $2,500 6 50.000 5.38 0.00 1000 1500 $6,250 50.000 0.00 0.00 1500 0 $3,750 00 47.692 0.00 2.31 0 0 9 45.385 0.00 2.31 0 500 $1,250 10 45.385 0.00 0.00 500 0 $1,250 11 45.769 0.38 0.00 1750 $4,375 12 45.769 0.00 0.00 1750 6500 $20,625 Sum= 11.54 1.54 Ave= 1250.00 Cost= $2,400.00 $2,000.00 $60.00 Total= $27,692.31 $23,076.92 $75,000.00 Plan#3 - Minimum Cost Question 7. From the minimum cost plan values, what is the total annual hiring cost plus the total annual firing cost? A) $0 (B) $50769 (C) $88615 (D) $81231 (E) $46154 Question 8. From the minimum cost plan values, what is the total annual carrying cost? (A) $390000 (B) $32500 (C) $75000 (D) $6250 (E) $347500 Question 9. From the minimum cost plan values, what is the total annual cost (total annual cost is the cost of annual regular time production plus the annual hiring and firing cost plus the annual inventory carrying cost)? (A) $2921731 (B) $3155500 (C) $2836958 (D) $2933769 (E) $3279231Question 9. Consider the information. Quarterly Demand = 4100,3100,4500,3300, for quarters 1,2,3,4, respectively. Production Standard = 250 items/quarter Unit Hiring Cost = $300/FTE Unit Firing Cost = $400/FTE Unit Carrying Cost = $5/item/quarter With a beginning annual inventory of 800 and an ending annual inventory of 900, then which production plan represents a mixed strategy that satisfies all the requirements? (Note: Satisfying "all requirements" implies not level, not chase, no negative inventory, and meeting ending inventory objective). Select One Answer Quarter 1 Quarter 2 Quarter 3 Quarter 4 Production Plan A 3800 3800 3700 $700 Production Plan B 3775 3775 3775 3775 Production Plan C 4125 3125 4525 3325 Production Plan D 3785 3795 3785 3735 Production Plan E 3290 3920 4550 3340 F None of the above Find support for this material beginning at MDHarper.com MDHarper.com-> Operations Management-> VIDEOS-> Aggregate Planning > Video-3 Question 10. Consider the information. Quarterly Demand = 4100,3100,4500,3300, for quarters 1,2,3,4, respectively. Production Standard = 250 items/quarter Unit Hiring Cost = $300/FTE Unit Firing Cost = $400/FTE Unit Carrying Cost = $5/item/quarter With a beginning annual inventory of 560 and an ending annual inventory of 560, then which production plan represents a minimum total cost production plan that satisfies all the requirements? (Note: Minimum cost implies minimum total cost where total cost is total annual hiring cost plus total annual firing cost plus total annual inventory carrying cost) Select One Answer Quarter 1 Quarter 2 Quarter 3 Quarter 4 Production Plan A 3550 3560 050 3840 Production Plan B 3540 3540 4060 3860 Production Plan C 3750 3750 3750 3750 Production Plan D 4100 3100 4500 3300 E None of the above > > >END OF QUIZ > >End of Homework Operations Management=> VIDEOS-> Aggregate Planning Video-1 Part 2. For questions 3-10, consider the information. Quarterly Demand = 4100,3100,4500,3300, for quarters 1,2,3,4, respectively. Production Standard = 250 items/quarter Unit Hiring Cost = $300/FTE Unit Firing Cost = $400/FTE Unit Carrying Cost = $5/item/quarter Question 3. Consider the information. Quarterly Demand = 4100,3100,4500,3300, for quarters 1,2,3,4, respectively. Production Standard = 250 items/quarter Unit Hiring Cost = $300/FTE Unit Firing Cost = $400/FTE Unit Carrying Cost = $5/item/quarter With a beginning annual inventory of 560 and an ending annual inventory of 560, which set of values are correct for a Level Capacity aggregate planning strategy within Solution and Analysis Tables? Answer A Answer B Answer C Answer D Quarter 1 Production 3775 4100 3750 Quarter 2 Ending Inventory 910 560 860 Quarter 3 Total Carrying Cost 2738 2800 2425 None Quarter 4 FTE Quarterly Requirements 15.10 13.20 5.00 of Total Annual Hiring Cost 0 2640 the Total Annual Firing Cost 0 3520 0 above Total Annual Carrying Cost 700 11200 8700 Total Annual Cost 9700 17360 8700 Question 4. Consider the information. Quarterly Demand = 4100,3100,4500,3300, for quarters 1,2,3,4, respectively. Production Standard = 250 items/quarter Unit Hiring Cost = $300/FTE Unit Firing Cost = $400/FTE Unit Carrying Cost = $5/item/quarter With a beginning annual inventory of 560 and an ending annual inventory of 560, which set of values are correct for a Chase Demand aggregate planning strategy within Solution and Analysis Tables? Answer A Answer B Answer C | Answer D Quarter 1 Production 3750 $100 4125 Quarter 2 Ending Inventory 860 560 610 Quarter 3 Total Carrying Cost 2425 2800 3113 None Quarter 4 FTE Quarterly Requirements 15.0 13.20 13.30 of Total Annual Hiring Cost 0 2640 2640 the Total Annual Firing Cost 0 3520 3520 above Total Annual Carrying Cost 8700 1 1200 12200 Total Annual Cost 8700 17360 18360Plan#5 - Min Cost, Max FTE, Min OT For Questions 13-15. Begin with the minimum cost analysis presented at the meeting and limit the number of FTEs per month to a maximum of 46. Allow monthly overtime production at time and a half but limit the monthly overtime production to 10% of the regular time production. Question 13. What is the total annual direct labor cost (direct labor cost is the sum of the total annual regular time production direct labor cost plus the total annual overtime production direct labor cost)? (A) $1417600 (B) $163200 (C) $2835200 (D) $5507200 (E) $2934800 Question 14. What is the total annual carrying cost? (A) $5521 (B) $77050 (C) $22083 (D) $66250 (E) $71800 Question 15. What is the total annual cost which is the sum of the annual regular time production direct labor cost, annual overtime production direct labor cost, annual hiring cost, annual firing cost, and annual inventory carrying cost? (A) $2742988 (B) $2982927 (C) $2851327 (D) $2938477 (E) $2835200 Plan#6 - Min Cost, Max FTE, Min OT, Min EI For Questions 16-18. Begin with the minimum cost analysis presented at the meeting and limit the number of FTEs per month to a maximum of 46. Allow monthly overtime production at time and a half but limit the monthly overtime production to 10% of the regular time production. Constrain the ending monthly inventory to be greater than or equal to 100. Question 16. What is the total annual direct labor cost (direct labor cost is the sum of the total annual regular time production direct labor cost plus the total annual overtime production direct labor cost)? (A) $1417600 (B) $163200 (C) $2935200 (D) $5507200 (E) $2834800 Question 17. What is the total annual carrying cost? (A) $5521 (B) $77050 (C) $22083 (D) $66250 (E) $71800 Question 18. What is the total annual cost which is the sum of the annual regular time production direct labor cost, annual overtime production direct labor cost, annual hiring cost, annual firing cost, and annual inventory carrying cost? (A) $2942988 (B) $2732927 (C) $2851327 (D) $2838477 (E) $2835200