...MAN 4320 Study Guide – Test #1 – Chapters 1-5 In fairness to all students I ask that you NOT send me individual inquiries related to specific topics addressed in this study guide for which you require further clarification. I have found in the past that by responding to one student’s inquiry this might be viewed as demonstrating preferential treatment. Therefore, should you require any further clarification I will defer to this disclaimer and not respond to your inquiry. There are a total of 80 questions @ 1.25 points and it will be available in the Testing Lab from 7:00 a.m. on September 29th to 11:59 p.m. on September 30th. Upon completion of the test you will be able to view your scores. Chapter 1 – 5 T/F and 11 M/C Should strategic staffing systems be aligned with a firm’s business strategy? In what ways does staffing influence organizational performance? Is reducing the turnover rate of high performers a staffing process goal? Define talent management. Is it more important to fill jobs quickly or is it better to fill jobs efficiently at minimum expense? Should firms select only those candidates who already possess the skills that are necessary to be quickly and cheaply trained by the firm? How does employer branding create a favorable image in desired applicants’ minds? Would you classify number of qualified applicants as a staffing process or outcome goal? Define recruiting, performance management and deployment. When a firm determines it will need to hire...
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...capacity. C. Assembly line 1: 2560/day or (160*16) Part C drilling: 2400/day or (60*5*8) Final assembly 2160/day or (180*12) Since the final assembly operation can only produce a maximum of 2160 a day, the maximum weekly capacity would be 10800 or (2160*5). Based on this, the final assembly operation limits the weekly capacity. D. From question B Part A: 9600 * .55 = 5280 Part B: 9600 * .45 = 4320 Part C: 9600 * .35 = 3360 Assembly 1: 9600 * .4 = 3840 Drilling: 9600 * .25 = 2400 Fin Assembly: 9600 * .4 = 3840 Cost of Elec: 9600 * .01 = 96 Over head: 3100 Depreciation: 75 Total Costs: 26311 Div: Parts Assembled 9600 Cost per unit: 2.74 From question C Part A: 10800 * .55 = 5940 Part B: 10800 * .45 = 4860 Part C: 10800 * .35 = 3780 Assembly 1: 10800 * .4 = 4320 Drilling: 10800 * .25 = 2700 Fin Assembly: 10800 * .4 = 4320 Cost of Elec: 10800 * .01 = 108 Over head: 3100 Depreciation: 75...
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...[pic] MGMT 405 Operations and Production Management Answer set 2 (Reference chapter 2 – William J. Stevenson-2007, ninth edition) Problems and Solutions 1. Suppose that a company produced 300 standard bookcases last week using eight workers and produced 240 standard bookcases this week using six workers. In which was productivity higher? Explain. Ans: Productivitylast week = standard bookcases produced as output / labor= 300/8= 37.8 sbc/worker Productivity this week = standard bookcases produced as output / labor= 240/6= 40 sbc/worker The ouput of this week shows that it has higher productivity than last week. This answer can be improved. 2. The manager of a crew that installs carpeting has tracked the crew’s output over the past several weeks, obtaining these figures. |Week |Crew size |Yards Installed | |1 |4 |960 | |2 |3 |702 | |3 |4 |968 | |4 |2 |500 | |5 ...
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...Hi-Ho Yo-Yo, Inc. Company Background Hi-Ho Yo-Yo, Inc. (HHYY) was founded in 1993 by two business school graduates who thought there ought to be alternatives to the video game craze. Searching for a toy that could have mass market appeal they settled on yo-yos. Yo-yos have a nostalgic appeal to the baby boomer generation and are a novelty plaything for generation X. So, the main marketing thrust of HHYY is directed toward parents and grandparents rather than to the children who will actually play with the yo-yos. The latest advertising campaigns show 50-ish men competing in 1950’s era yo-yo competitions, grandmothers showing their grandsons how to do yo-yo tricks, and pre-teen girls trying to get their yo-yos away from their dads who are monopolizing them. This advertising campaign has been highly effective. After a couple of rough start-up years, HHYY achieved profitability in 1996 and has seen sales and profits increase each year since then. HHYY is a closely held Subchapter S Corporation with all the stock being held by the founders and their family members. The founders, John Cooper and Juan Martinez share the position of Office of the CEO. John is also the Chief Operating Officer (COO) while Juan is the Chief Financial Officer (CFO). An organization chart for HHYY is in Figure 1. The firm employees about 350 people in a single location in the suburbs of Cut and Shoot, Texas. Figure 1. Hi-Ho Yo-Yo, Inc. Organization Chart Office of the CEO ...
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...EXERCISE 3–5 Apply Overhead [LO5] Luthan Company uses a predetermined overhead rate of $23.40 per direct labor-hour. This predetermined rate was based on 11,000 estimated direct labor-hours and $257,400 of estimated total manufacturing overhead. The company incurred actual total manufacturing overhead costs of $249,000 and 10,800 total direct labor-hours during the period. Required: Determine the amount of manufacturing overhead that would have been applied to units of product during the period. Solution: Applied Overhead = Application rate * Actual Activity = 23.4 * 10800 = $252720 Exercise 3-8 Osborn Manufacturing uses a predetermined overhead rate of $18.20 per direct labor-hour. This predetermined rate was based on 12,000 estimated direct labor-hours and $218,400 of estimated total manufacturing overhead. The company incurred actual total manufacturing overhead costs of $215,000 and 11,500 total direct labor-hours during the period. Required: 1. Determine the amount of underapplied or overapplied manufacturing overhead for the period. 2. Assuming that the entire amount of the underapplied or overapplied overhead is closed out to Cost of Goods Sold, what would be the effect of the underapplied or overapplied overhead on the company’s gross margin for the period? 1. | Actual direct labor-hours | 11,500 | | × Predetermined overhead rate | $18.20 | | = Manufacturing overhead applied | $209,300 | | Less:...
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...attended the deceased during his last illness and during the five years preceding his death: Name and address Disease or condition Date of attendance Date of funeral Name of funeral parlour Tel no of funeral parlour Name of deceased’s employer at date of death: Name of deceased’s medical aid at date of death: Medical aid membership number: Have you any knowledge of any cession or other lien on the contract? If so, please give details: Directors: D Macready (Chairman) RL Blumeris (Managing Director) AD Culbert JR Bestbier PJ McGregor HW Beets Company Secretary: Nedgroup Secretariat Services (Proprietary) Limited 11.02.2011 Underwritten by Nedgroup Life Assurance Company Limited. Address Ridgeside Campus, 2 Ncondo Place, Umhlanga, 4320; PO Box 149175, East End, 4018 Tel 0860 263 543 Fax 031 364 0014 Web www.nedgrouplife.co.za Nedgroup Life Assurance Company Limited is a division of Nedbank...
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...Craddock Cup Question Number 1 In determining whether to keep or drop the Craddock Cup, the overhead expense allocations of City field rental, CYSL salaries and CYSL rent should be revised. In determining whether to keep or drop the Craddock Cup, the allocation of City filed rental fee of $1200 from CYSL to the Craddock Cup should be eliminated. CYSL rented 10 soccer fields from the city for 40 weeks a year for a total fee of $48000. However, even if the Craddock Cup was dropped, the rental fee of $48000 can not be avoided. So, the cost of City field rental fee is the irrelevant cost, The allocation of the cost of CYSL salaries should also be revised. The 15% of Rivaldo's salary($6300) should not be allocated as the expense of the Craddock Cup. The cost of Rivaldo's salary is not the relevant cost. If the CYSL dorp the Craddock Cup, the salary of Rivaldo still cannot be avoided. However, the Jansten's salary is the relevant cost. Jansten worked soley on the Craddock Cup. If the CYSL drop the Craddock Cup, the salary of Jansten can be avoided. So the allocation of CYSL salaries is $12000. The allocation cost of CYSL rent and utilities should be eliminated. The cost of rent and utilities is the .irrelevant cost. Even if the Craddock Cup is discontinued, the CYSL rent and utilities still cannot be avoided. So, in determining whether to keep or drop the Craddock Cup, the manager should not consider the overhead expense allocations of City field rental, CYSL...
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...Chapter 3 Securities markets PROBLEM SETS SOLUTIONS Basic 1. An IPO is the first time a formerly privately owned company sells shares to the general public. A placement is the issuance of shares by a company that has already undergone an IPO. 2. Costs can be categorised as explicit, such as brokerage fees, or implicit such as the bid−ask spread and market impact. 3. The primary market is the market for new issues of securities, while the secondary market is the market for already-existing securities. Companies sell shares in the primary market, while investors purchase shares from other investors in the secondary market. 4. A placement is a quick way to raise additional capital. A dividend reinvestment plan would not be appropriate. 5. A stop order is a trade is not to be executed unless stock hits a price limit. The stop loss is used to limit losses when prices are falling. An order specifying a price at which an investor is willing to buy or sell a security is a limit order, while a market order directs the broker to buy or sell at whatever price is available in the market. 6. Margin is a type of leverage that allows investors to post only a portion of the value of the security they purchase. As such, when the price of the security rises or falls, the gain or loss represents a much higher percentage, relative to the actual money invested. Intermediate 7. a. 55.50 b. 55.25 c. The trade will not be executed because the bid price is lower than the price specified...
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...equals Ap/s, the equilibrium level of income equals 4400 /. 4 = 11,100 given the interest rate equals 5. d. Since autonomous consumption changes by four percent of any change in household wealth and the decline in the housing market from 2006–09 and drop in the stock market from 2007-09 reduces household wealth by $3 trillion, the decrease in autonomous consumption that results from the decline in household wealth equals .04(_3T___) = 120 billion. e. Since the decrease in autonomous consumption that results from the decline in household wealth equals 120 billion, autonomous planned spending decreases by that amount as well. Therefore, the new amount of autonomous planned spending equals 4400− 120 = 4320. Therefore, the new equilibrium level of income equals 4320/. 4 =10,800 , given the interest rate equals 3. f. The multiplier, k, equals ΔY/ΔAp = (10,800 −11,100)/(4,320 −4400) = (−300)/(−120) =2.5. g. Since the multiplier equals 2.5 and income must increase by 300 billion to restore income to its initial equilibrium level of 11,100, fiscal or monetary policymakers must take actions that increase autonomous planned spending by 120 billion in order to restore equilibrium income to 11,100. i. If fiscal policymakers increase government spending, G, and there are no changes in either taxes or the interest rate, then ΔAp = _120 = ΔG. Therefore, fiscal policymakers must increase government spending by 120 billion to restore equilibrium...
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...Guidelines to write the Case Analytical Report There is no pre-set formula for preparing a case analysis because companies differ in focus, size, and complexity. Students must apply strategic management concepts and techniques they learn and experience to their case analyses. It is important to collect information about the company of the concerned case and its environment from various sources that are relevant and reliable. In writing the report, students are advised to discuss particular strategic issues that will concern the organization. Students are also advised to avoid vague terminology, redundant words, acronyms, abbreviations, and biased language in writing and presenting the reports. Tables, figures, and charts may be used to help communicate important issues. The case study report should be prepared collectively by all the members of the group. Each member of the group might research two or more of the steps and compile the information to formulate a proper structure for the report. Students must remember that their research should be done with the idea that they are acting as consultants to the organization or as a top-level management team. Students must identify current sources for company given in the case study and use them to write and analyze their cases. The submission of a successful case analytical report and obtaining an excellent grade will substantially depend on the extent to which the group designs and writes the report in an effective manner. Hence...
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...1. Prepare a detailed activity flow chart of the loan analysis process for the SLAD using the activity description provided above 2. What is “cycle time” for processing student and non-student loans? 3. Explain the definition of “cycle time” that you have used in answering Q.2. 4. How would you measure “quality” for this process? 5. What improvements in the process would you recommend? Answer : 1. [pic] 2. Jenis pinjaman pada SLAD terbagi menjadi dua yaitu : • Student Loan • Non-student Loan Sehingga yang dimaksud dengan cycle time dalam memproses pinjaman-pinjaman ini adalah waktu yang dibutuhkan untuk memproses pinjaman mulai dari bagian Logging sampai dengan bagian Acceptance/Follow-up. Aplikasi pinjaman diproses dalam satu batch dimana satu batch terdiri dari 100 aplikasi pinjaman. Sehingga cycle time untuk kedua jenis pinjaman ini dapat dihitung sebagai berikut : |Student Loan | | | | | | | | | |Logging | | | | |Input ke komputer |100 aplikasi |1500 |menit | |Logging area |4 jam |240 |menit | |Run time | |15 |menit | |Total...
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...Stephanie Guelbert 4320 Media Article This past March, 2 teachers in Alabama were accused of verbally abusing a 4th grade boy with cerebral palsy. They mocked the student and would tell him he was disgusting because he drooled all of the time, which is an involuntary bodily function for people with this disability. The parents had suspected abuse and placed a voice recorder on their child’s wheelchair. They caught the 2 teachers saying awful things to their son and turned in the recording which led to the teacher’s being on leave from the district more than once. However, the article says they were placed on a paid leave and I don’t agree with this. Obviously, I do not agree with the way these teachers handled this 4th grade boy, and I would do everything differently. I have a lot more patience and humanity, first of all. I would never treat a child with a disability like they are awful, and I would never call a child with a disability disgusting. I would have been much more understanding and tried to communicate and help Jose in a way that made him comfortable and helped him learn. Mocking a child does nothing but delay their ability to feel confident and motivated. That is the opposite of what a teacher, especially a teacher who works in Special Education, should be working towards. So my strategies would include: -More patience -More encouragement and positive instruction -Building and working on goals that help the student to feel comfortable in...
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...P4 Assignment In this assignment I will be preparing a profit and loss account and balance sheet for Carrie’s Trophies Ltd, based on the information provided. Actual sales and purchases for the 12 months were as follows. | £ | £ | Sales/turnover | | 36,031.50 | Less cost of goods sold | | | Opening stock | 0 | | Purchase | 1602 | | Closing stock | 830 | | | | 2342 | Gross Profit | | 33,689.50 | Less expenses | | | Rent | 4800 | | Utilities | 720 | | Wages | 30000 | | Telephone | 3200 | | Distribution | 350 | | Advertising | 360 | | Insurance | 350 | | Packaging | 2119.50 | | Total expenses | | 36301.50 | Net profit before tax | | 4980 | What is a profit and loss account? Document that shows the historical record of income and expenditure made annually is known as profit and loss account. Why is it important to produce profit and loss accounts? It is important to produce profit and loss accounts because it helps the government to know what the business is earning so that they can impose them the correct tax. Which stakeholders are interested in the profit and loss account? Primary stakeholders are interested in the profit and loss account. Primary stakeholders are those stakeholders that engage in economic transactions with the business. Some of the examples are stockholders, customers, suppliers, creditors and employees. This can help the business to have proper documents that is useful to the...
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...Chemistry The study of matter and the changes it undergoes Substance (Chemical) Matter that has a definite and a uniformed composition Mass A measurement on the amount of matter on an object Model A visual, Verbal, or mathematical explanation of experimental data Weight The measure of the amount of matter pulled down by gravity Applied Research Research undertaken to solve a specific problem Pure Research Research to gain knowledge for the sake of knowledge Base Unit A defined unit in a system measurements (SI- International system of measurement) Density The physical property of matter and its mass per unit volume Derived Unit A combination of base units Kelvin SI base unit for Temperature Kilogram SI base unit for mass Liter SI base unit for volume Meter SI base unit for length Second SI base unit for Time Scientific Notation Express's any number between 1 and 10 (coefficient) multiplied by ten and raised to a power (exponent) Accuracy How close a measured value is to an accepted value Error Difference between experimental value and an accepted value Percent Error Expresses error as a percentage of an accepted value ( Its what percent of an accepted value an error presents) Precision How close a series measurement are to one another Graph Visual display of data Matter Anything that has mass and takes up space Technology The practical use of scientific information The metric system is...
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...Table of Contents Section A short answers…………………………………………………………………………………………………………………………..1 Section A short answers…………………………………………………………………………………………………………………………..2 Section A short answers………………………………………………………………………………………………………………………..…3 Section B Essay………..………………………………………………………………………………………………………………………………4 Section B Essay………………………………………………………………………………………………………………………………………..5 Bibliography…………………………………………………………………………………………………………………………………………….1Section C calculations Question 1- productivity…………………………………………………………………………………………………………………………7 Question 2- forecasting………………………………………………………………………………………………………………………….8 Question 2- forecasting………………………………………………………………………………………………………………………….9 Question 2- forecasting…………………………………………………………………………………………………………………………10 Question 2- forecasting…………………………………………………………………………………………………………………….….11 Section A: Short Answers 1) It is difficult to improve service productivity because services cannot be stored on shelves for sale at a later date. Also, in the service sector, it is not always possible to increase output given the same number of input, as the input is usually people and the service experienced by them contains many variables, each of which can lead to a different outcome for the consumer. For example, whenever I visit my hairdresser in Jades Hair Salon, I come back very happy knowing that my hair will look neat and perfect. However, recently, my hairdresser seemed very rough while combing and trimming my hair and even at the end,...
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