BUS 351

What do you suspect the accounts receivable terms are for a company whose receivable turnover is 6.
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Terms in this set (49)
What do you suspect the accounts receivable terms are for a company whose receivable turnover is 6.
Net 60
One way to compare your companies performance with other companies is ____.
Benchmarking
The act of creating additional value for customers by combining products and services is ____.
Product/Service Bundling
Company A and Company B are competing against each other in the same industry. Company A has an inventory turnover of 14. Company B has an inventory turnover of 16. Which company is doing better in regards to inventory turnover?
Company B
Given the following Information, what is the company's inventory turnover?
Total Revenue
9,750,000
Total Credit Sales
8,750,000
Net Income
2,900,000
COGS
3,400,000
Total Assets
9,500,000
Average Inventory
250,000
Average Receivables
950,000
13.60
All business activities should be evaluated in relation to _____.
Value
Given the following Information, what is the company's receivable turnover?
Total Revenue
9,750,000
Total Credit Sales
8,750,000
Net Income
2,900,000
COGS
3,400,000
Total Assets
9,500,000
Average Inventory
250,000
Average Receivables
950,000
9.21
Identify the production layout for small electronics that have been grouped into product families and assigned to a group of machines that can perform the necessary processing requirements?
Manufacturing Cell Layout
A company that makes office furniture can produce 12 desks an hour. The cost of a finished desk is $75.00 and it sells for $150.00. The production operations ran a 10 ten-hour shift for 6 days during the week. During the week 550 desks were shipped. Assuming zero beginning inventory, answer the following questions:
What was the value of finished goods ending inventory?
$12750.00
Identify the production layout that is offers the most customization?
Project Layout
Identify the production layout for a car body shop that has an area for painting, frame welding, and body work?Workcenter layoutIdentify the production layout that is based on product families?Manufacturing Cell LayoutWhich production strategy has the highest finished good inventoryMake-to-StockWhich production strategy provides the most customization for the customer?Engineer-to-OrderIdentify the production layout that is the most efficient?Correct answer: Assembly Line Layout or Continuous LayoutWhich production strategy allows the customer the quickest delivery?Make-to-StockIdentify the production layout that is the least flexible?Continuous LayoutWhich production strategy provides some production efficiency and customization?Assemble-to-OrderWhich production strategy is Subway restaurant?Assemble-to-OrderIdentify the production layout for a yacht built in a shipyard?Project LayoutA company that makes office furniture can produce 12 desks an hour. The cost of a finished desk is $75.00 and it sells for $150.00. The production operations ran a 10 ten hour shift for 6 days during the week. During the week 550 desks were shipped. Assuming zero beginning inventory, answer the following questions: How many desks were in finished goods inventory?170Identify the production layout that is flexible and based on departments?Workcenter LayoutIdentify the production layout where a line of operators have a single piece to add to a refrigerator as it passes their station?Assembly line LayoutWhich production strategy is house construction from a builder offering 4 basic models in a new subdivision?Make-to-OrderIdentify the production layout for an oil refinery?Continuous LayoutA company that makes office furniture can produce 12 desks an hour. The cost of a finished desk is $75.00 and it sells for $150.00. The production operations ran a 10 ten hour shift for 6 days during the week. During the week 550 desks were shipped. Assuming zero beginning inventory, answer the following questions: How many desks were produced?720What is the workstation cycle time required to produce 240 units per day, given that the line operates eight hours per day? Enter your answer in seconds as a whole number (Enter only the number, no text).120Given the information below, What is the variable cost? Enter you answer with 2 decimal places (The answer is in dollars, but do not type a $, only the number). Selling Price: $43.00 Fixed Cost: $450,000.00 Direct Materials: $11.50 Direct Labor: $13.0024.50Given the information below, What is the contribution margin? Enter you answer with 2 decimal places (The answer is in dollars, but do not type a $, only the number). Selling Price: $43.00 Fixed Cost: $450,000.00 Direct Materials: $11.50 Direct Labor: $13.0018.50Given the information below, What is the breakeven point in units? Roundup to a whole number (Enter only the number without text). Selling Price: $43.00 Fixed Cost: $450,000.00 Direct Materials: $11.50 Direct Labor: $13.0024,325Given the information below, What is the number of units needed to earn a profit of $500,000.00? Roundup to a whole number (Enter only the number without text). Selling Price: $43.00 Fixed Cost: $450,000.00 Direct Materials: $11.50 Direct Labor: $13.0051,353Given the following information, what is the breakeven point in units when deciding which machine to purchase? Round to the nearest whole number. Machine1 Machine 2 Machine Cost $150,000.00 $350,000.00 Cost Per Unit $75.00 $20.003,637Given the following information, what machine should the company purchase if annual sales are expected to be 3,000 units per year? Round to the nearest whole number. Machine1 Machine2 Machine Cost $150,000.00 $350,000.00 Cost Per Unit $75.00 $20.00Machine 1Given the following information, what machine should the company purchase if annual sales are expected to be 4,000 units per year? Round to the nearest whole number. Machine1 Machine2 Machine Cost $150,000.00 $350,000.00 Cost Per Unit $75.00 $20.00Machine 2Quality of life in a host community is not a major factor in making the facility location decision.FalseWhich of the following is an input file necessary to run an MRP system?Inventory records filesUses a combination of transportation solutions.MultimodalThe time-phased plan specifying how many and when the firm plans to build each end item is called the master production schedule (MPS)TrueA third-party logistics company is a firm that manages all or part of another company's product delivery operations.TrueServices typically have multiple site locations to maintain close contact with customers.TrueCross-docking is a practice used in the international shipping industry that facilitates port utilization.FalseA favorable business climate in facility location decision making might include government legislation of tax abatements.TrueA warehousing activity that involves breaking down shipments into smaller shipments for local delivery.Cross-dockingThe acronym ERP stands for:Enterprise Resource Planning— A data base of that ties together all application programs in a firm.Which of the following is one of the main purposes of a MRP system?To determine the amount of materials needed to produce each end item.MRP stands for Manufacturing Requirements Planning.FalseTypical cost of the last mile (the final phase of delivery to the end customer).75% - 85%Perfect order1) Right product 2) Right Time 3)Right place 4) Right quantity 5)Right condition 6) Right packaging 7) Right documentPSMDPlan Source Make Deliver