Bernard owns a car wash business and wants to increase profits. He is considering investing in a blow-off machine to reduce wash times or adding an elite wash service. Simulations of different scenarios show investing in the blow-off alone would increase annual profit by $4,855 with shorter wait times. Adding the elite wash at $11 increases profit most to $162,143 annually. Bernard should invest in the blow-off to efficiently boost customer satisfaction and profits through reduced service times.
This document appears to be a practice exam for an ACC 434 final exam. It contains 25 multiple choice questions covering a variety of accounting cost and management topics, including activity-based costing, budgeting, cost estimation methods, sunk costs, life-cycle budgeting, cost allocation, sensitivity analysis, quality costs, and inventory carrying costs. The questions require understanding of accounting concepts and calculations to determine the correct multiple choice answer.
1. The document provides a sample exam for ACC 434 with 25 multiple choice questions covering topics such as activity-based costing, budgeting, cost allocation, transfer pricing, quality costs, and inventory carrying costs.
2. Questions address calculating indirect cost allocation rates, budgeted cash payments, identifying sunk costs, allocating joint costs using the benefits-received criterion, and determining the effects of changes to quality prevention methods on appraisal costs.
3. Sample questions also cover quantitative cost estimation methods, the theory of constraints, life-cycle budgeting, sensitivity analysis, and estimating total setup costs for inventory production runs.
1. The document provides sample exam questions for ACC 434 final exams. It includes 25 multiple choice questions covering topics like activity-based costing, budgeting, cost allocation, transfer pricing, quality costs, and inventory costs.
2. The questions assess understanding of cost accounting concepts like indirect cost rates, budgeted cash payments, sunk costs, cost functions, life-cycle budgeting, sensitivity analysis, and inventory carrying costs.
3. Answers to the exam questions can be found by visiting the website provided. The questions cover a range of cost accounting topics tested on the ACC 434 final exam.
Agri 2312 chapter 6 introduction to production and resource useRita Conley
This document provides an introduction to production and resource use. It discusses key concepts including the conditions of perfect competition, classification of inputs, production relationships, and assessing costs. Specifically, it defines inputs as labor, capital, land, and management. It introduces the total physical product curve and shows the three stages of production. It also discusses the relationships between marginal physical product, average physical product, and marginal cost. Optimal output and input levels are where marginal revenue/value equals marginal cost/input cost.
This document discusses various methods for allocating joint costs between joint products, including the sales value at splitoff method, estimated net realizable value method, constant gross margin percentage method, and physical measure method. It also explains that joint costs are irrelevant in make-or-process further decisions and covers two methods for accounting for byproducts: recording byproducts at estimated net realizable value and treating byproducts as a credit to joint costs.
New and improved AnyLogic training lead by the UK's leading practitioner of ABMS.
Our new AnyLogic training course is ideal for experienced modellers who want to fully exploit the new features in AnyLogic 6, and new users who want to bypass a lengthy learning period.
Offering three days of immersion in multi-paradigm modelling, this AnyLogic course includes demos, case studies and plenty of hands-on exercises.
Any Logic Business Process Simulation SoftwareGeorge_Rivas
AnyLogic is business process simulation software that allows users to model systems using different simulation methods like discrete event, system dynamics, and agent-based modeling within a single tool. It provides flexibility in modeling complex problems across various industries while reducing costs and modeling time. AnyLogic offers extensive help resources, unlimited support from experts, and is compatible across operating systems and for different types of users.
Question 1Describe a recent Gallup poll. Be sure to include th.docxmakdul
Question 1
Describe a recent Gallup poll. Be sure to include the results of the poll, how the poll was conducted, and what the results will be used for.
Question 2
Describe a recent study where data was gathered. If possible, explain whether it is a qualitative or quantitative study, and whether the data is discrete or continuous. What type of graph would you use to describe the data and why?
Each question must be no less than 275 words with two (2) sources/references.
No Plagiarism and the sources must be done in APA. The writer need to understand what the question is asking.
Text
Johnson, Richard A. & Gouri K. Bhattacharyya. (2014). Statistics: Principles & Methods. (7th Ed.). Hoboken, New Jersey: John Wiley & Sons, Inc. ISBN: 9781119049661. ISBN: 9781118192450 (includes WileyPLUS). ISBN: 9781118190975 (WileyPLUS stand-alone)
Group Case Using Simulation
QNT 5160
Bling Max Carwash
“Bling Max” Business Simulation Case
Bling-Max
Touch–Free Carwash in Fort Lauderdale, Florida
2
Bling Max Car Wash
Bernard “Bernie” West stood under a tall palm admiring his new business and the many vehicles entering it on a
sunny Florida day. Bernie’s Bling‐Max Carwash had exceeded his expectations as a small service business among
many similar enterprises in Fort Lauderdale. Owned and operated by 32 year old Bernie, he had purchased the
business outright about six months ago, borrowing against his house and drawing down all his savings. The
carwash, about 8 years old with a single auto wash bay, was not the newest equipment to be found in a modern
automated car wash, but it had been flawlessly maintained and was the popular high pressure, touch free, Pulse‐
Pro equipment with excellent reliability. Best yet, the business was located in the perfect spot in Fort Lauderdale,
near a major intersection close to offices, popular clubs, restaurants, and busy shopping areas. There were no
nearby competitors and Bernie wanted to keep it that way.
Bernie assessed the current business situation. Bling‐Max offers its customers three levels of wash service,
“Economy”, “Custom”, and “Deluxe”, which are priced at $8.00, $9.00, and $10.00 respectively. Based on Bernie’s
market research, the prices are slightly high but still competitive, compared to other automated washes. More
important than pricing, he knew he had to do something to reduce wait times to keep customers from going
elsewhere.
Bling‐Max is open 7 days per week, 365 days per year from 8:00 AM to 6:00 PM. This 10 hour operating schedule
provides 14 “off‐hours” for the necessary cleaning, preventive maintenance, and refill of wash chemicals. During
operating hours, arriving cars line up in a perimeter corral queue that holds 14 or more cars, depending on their
size. The first car arriving on or after 8:00 AM can pay with a quick credit card swipe and enter the wash.
Successively arriving cars can swipe and enter as soon as they reach the control panel at the wash ...
This document appears to be a practice exam for an ACC 434 final exam. It contains 25 multiple choice questions covering a variety of accounting cost and management topics, including activity-based costing, budgeting, cost estimation methods, sunk costs, life-cycle budgeting, cost allocation, sensitivity analysis, quality costs, and inventory carrying costs. The questions require understanding of accounting concepts and calculations to determine the correct multiple choice answer.
1. The document provides a sample exam for ACC 434 with 25 multiple choice questions covering topics such as activity-based costing, budgeting, cost allocation, transfer pricing, quality costs, and inventory carrying costs.
2. Questions address calculating indirect cost allocation rates, budgeted cash payments, identifying sunk costs, allocating joint costs using the benefits-received criterion, and determining the effects of changes to quality prevention methods on appraisal costs.
3. Sample questions also cover quantitative cost estimation methods, the theory of constraints, life-cycle budgeting, sensitivity analysis, and estimating total setup costs for inventory production runs.
1. The document provides sample exam questions for ACC 434 final exams. It includes 25 multiple choice questions covering topics like activity-based costing, budgeting, cost allocation, transfer pricing, quality costs, and inventory costs.
2. The questions assess understanding of cost accounting concepts like indirect cost rates, budgeted cash payments, sunk costs, cost functions, life-cycle budgeting, sensitivity analysis, and inventory carrying costs.
3. Answers to the exam questions can be found by visiting the website provided. The questions cover a range of cost accounting topics tested on the ACC 434 final exam.
Agri 2312 chapter 6 introduction to production and resource useRita Conley
This document provides an introduction to production and resource use. It discusses key concepts including the conditions of perfect competition, classification of inputs, production relationships, and assessing costs. Specifically, it defines inputs as labor, capital, land, and management. It introduces the total physical product curve and shows the three stages of production. It also discusses the relationships between marginal physical product, average physical product, and marginal cost. Optimal output and input levels are where marginal revenue/value equals marginal cost/input cost.
This document discusses various methods for allocating joint costs between joint products, including the sales value at splitoff method, estimated net realizable value method, constant gross margin percentage method, and physical measure method. It also explains that joint costs are irrelevant in make-or-process further decisions and covers two methods for accounting for byproducts: recording byproducts at estimated net realizable value and treating byproducts as a credit to joint costs.
New and improved AnyLogic training lead by the UK's leading practitioner of ABMS.
Our new AnyLogic training course is ideal for experienced modellers who want to fully exploit the new features in AnyLogic 6, and new users who want to bypass a lengthy learning period.
Offering three days of immersion in multi-paradigm modelling, this AnyLogic course includes demos, case studies and plenty of hands-on exercises.
Any Logic Business Process Simulation SoftwareGeorge_Rivas
AnyLogic is business process simulation software that allows users to model systems using different simulation methods like discrete event, system dynamics, and agent-based modeling within a single tool. It provides flexibility in modeling complex problems across various industries while reducing costs and modeling time. AnyLogic offers extensive help resources, unlimited support from experts, and is compatible across operating systems and for different types of users.
Question 1Describe a recent Gallup poll. Be sure to include th.docxmakdul
Question 1
Describe a recent Gallup poll. Be sure to include the results of the poll, how the poll was conducted, and what the results will be used for.
Question 2
Describe a recent study where data was gathered. If possible, explain whether it is a qualitative or quantitative study, and whether the data is discrete or continuous. What type of graph would you use to describe the data and why?
Each question must be no less than 275 words with two (2) sources/references.
No Plagiarism and the sources must be done in APA. The writer need to understand what the question is asking.
Text
Johnson, Richard A. & Gouri K. Bhattacharyya. (2014). Statistics: Principles & Methods. (7th Ed.). Hoboken, New Jersey: John Wiley & Sons, Inc. ISBN: 9781119049661. ISBN: 9781118192450 (includes WileyPLUS). ISBN: 9781118190975 (WileyPLUS stand-alone)
Group Case Using Simulation
QNT 5160
Bling Max Carwash
“Bling Max” Business Simulation Case
Bling-Max
Touch–Free Carwash in Fort Lauderdale, Florida
2
Bling Max Car Wash
Bernard “Bernie” West stood under a tall palm admiring his new business and the many vehicles entering it on a
sunny Florida day. Bernie’s Bling‐Max Carwash had exceeded his expectations as a small service business among
many similar enterprises in Fort Lauderdale. Owned and operated by 32 year old Bernie, he had purchased the
business outright about six months ago, borrowing against his house and drawing down all his savings. The
carwash, about 8 years old with a single auto wash bay, was not the newest equipment to be found in a modern
automated car wash, but it had been flawlessly maintained and was the popular high pressure, touch free, Pulse‐
Pro equipment with excellent reliability. Best yet, the business was located in the perfect spot in Fort Lauderdale,
near a major intersection close to offices, popular clubs, restaurants, and busy shopping areas. There were no
nearby competitors and Bernie wanted to keep it that way.
Bernie assessed the current business situation. Bling‐Max offers its customers three levels of wash service,
“Economy”, “Custom”, and “Deluxe”, which are priced at $8.00, $9.00, and $10.00 respectively. Based on Bernie’s
market research, the prices are slightly high but still competitive, compared to other automated washes. More
important than pricing, he knew he had to do something to reduce wait times to keep customers from going
elsewhere.
Bling‐Max is open 7 days per week, 365 days per year from 8:00 AM to 6:00 PM. This 10 hour operating schedule
provides 14 “off‐hours” for the necessary cleaning, preventive maintenance, and refill of wash chemicals. During
operating hours, arriving cars line up in a perimeter corral queue that holds 14 or more cars, depending on their
size. The first car arriving on or after 8:00 AM can pay with a quick credit card swipe and enter the wash.
Successively arriving cars can swipe and enter as soon as they reach the control panel at the wash ...
Corporations should support reducing employee commuting by personal vehicles to realize cost savings and improve employee quality of life and local air quality. Cost savings include lower parking costs for corporations and reduced transportation costs for employees. Improved quality of life comes from less time spent commuting and more work-life balance, helping with recruitment, retention, and employee health. Reducing vehicles also improves local air quality. The document discusses strategies for corporations like commuting benefits programs, mobile work policies, and locating near transit to reduce parking needs and encourage alternatives to driving.
Activity Based Costing From The Perspective Of Competitive...Katherine Alexander
This document discusses activity-based costing (ABC) from the perspective of Nigerian manufacturing firms. It examines ABC's ability to support strategic management and provide benefits to organizations. The study utilized contingency theory and employed a descriptive survey design using structured questionnaires. Data analysis with SPSS found four dimensions that explain variances in the data: overall performance, strategic cost allocation, increased efficiency, and increased effectiveness. Regression results showed a positive and significant relationship at the 5% level. Findings reveal no statistically significant difference in cost reduction between ABC and traditional costing, though ABC tended to have a higher effect.
Danshui Plant No. 2 has a one-year contract with Apple to assemble 2.4 million iPhone 4 units but is concerned they will not meet the target as production after 3 months is only 180,000 units. The plant manager Wentao Chen is anxious because operating at this production level results in losses. The document provides production details for 180,000 units in August and calculates variances to determine where costs differ from the standard budget.
This document discusses revolutionizing the downstream supply chain in the oil and gas industry through the use of technology. It proposes a four component system: 1) outsourcing distribution operations, 2) using a shared fleet model, 3) implementing dynamic scheduling and routing, and 4) employing dynamic slot booking and pricing. This system aims to streamline operations, increase efficiency, optimize costs and provide benefits to oil companies, haulers, and customers through real-time data, automated processes and increased visibility and control of operations. Quantitative benefits observed by clients include up to 18% reduction in trips, 15% reduction in inventory, and 25% increase in deliveries handled by the same number of dispatchers.
This document discusses revolutionizing the downstream supply chain in the oil and gas industry through technology-based solutions. It proposes a four component system: 1) outsourcing distribution operations, 2) using a shared fleet model, 3) implementing dynamic scheduling and routing, and 4) enabling dynamic slot booking and pricing. This system aims to streamline operations, increase fleet utilization, optimize scheduling and pricing, and improve customer service and cost savings for oil companies, haulers, and customers. The system has the potential to reduce delivery costs by 15-18% and inventory levels by up to 15% while handling 25% more deliveries with the same staff.
Revolutionizing The Downstream Supply ChainDavid Evans
This document discusses revolutionizing the downstream supply chain in the oil and gas industry through the use of technology and innovative business models. It proposes a system with four components: 1) outsourcing distribution operations to eliminate large in-house logistics teams, 2) implementing a shared fleet model to improve vehicle utilization, 3) introducing dynamic scheduling and routing powered by advanced analytics to optimize operations, and 4) enabling dynamic slot booking and pricing to maximize profits. Adopting this holistic approach through an integrated technology solution can streamline operations, lower costs, and create value for oil companies and their partners.
Coursework ProjectCompanies are paying out too much in dividenCruzIbarra161
This document provides information about a coursework project evaluating a company's dividend policy and its impact on share price. It includes instructions for completing four parts of the project: a) evaluating dividend policy theories; b) analyzing the dividend policy and share price of a selected company over 11 years; c) using the Fisher-Hirshleifer model to examine investment and consumption decisions; and d) discussing the importance of mergers and acquisitions. Additional context and data tables are provided about a company called Motomart for use in completing the project analysis.
Exam 3 Extra Problems1 Formulating the Production Planning.docxcravennichole326
Exam 3 Extra Problems
1 Formulating the Production Planning Model
A company manufactures two electric products, air conditioners and fans. The assembly process
is similar in that both of them must pass through two stages of production: wiring and drilling.
Each air conditioner takes 7 hours of wiring and 5 hours of drilling, while each fan must go through
3 hours of wiring and 2 hours of drilling. During the next period, 260 hours of wiring time are
available and 160 hours of drilling time may be used. Each air conditioner sold yields a profit of
$27, and each fan sold yields a profit of $17.
1. Formulate the objective function algebraically.
2. Write the resource constraints. Would demand constraints or non-negativity constraints be
more appropriate for this system of equations?
3. Upon looking over previous years demand, management has decided that to ensure an ad-
equate supply of air conditioners for a contract, at least 24 units should be manufactured.
Additionally, because they incurred an oversupply in the previous period, management has
also requested that no more than 50 fans be produced during this period. Assist the company
by reformulating the necessary constraints from the above question.
1
The corresponding sensitivity report for the original problem is shown below:
Variable cells
Final Reduced Objective Allowable Allowable
Cell Name Value Cost Coefficient Increase Decrease
$B$6 Air conditioners 0 A 27 15.5 1E+30
$C$6 Fans 80 B 17 1E+30 6.2
Constraints
Final Shadow Constraint Allowable Allowable
Cell Name Value Price R.H. Side Increase Decrease
$D$4 Wiring 240 0 260 1E+30 20
$D$5 Drilling 160 8.5 160 13.3 160
4. Calculate the missing values “A” and “B” in the above report.
5. Suppose management has decided to sell some of it’s drilling capacity for $6 per hour. If 15
hours were sold, what is the impact on profit? What is the new objective function value?
6. The previous page mentions management requiring at least 24 units of air conditioners to be
produced. If this policy were to be implemented, how will this affect contribution?
2
2 Understanding the Sensitivity Report
A manufacturing company produces two products X and Y with contributions to profit per unit
of $10 and $9, respectively. Each product must pass through 4 departments during the manufac-
turing process. The company has formulated a linear programming model to develop a production
strategy to maximize profit, and satisfy the demand of 300 and 500 units for product X and Y ,
respectively. The corresponding sensitivity report for the problem is shown below:
Variable cells
Final Reduced Objective Allowable Allowable
Cell Name Value Cost Coefficient Increase Decrease
$B$16 Product X 300 0 10 17 1E+30
$B$17 Product Y 500 0 9 1E+30 5.6666667
Constraints
Final Shadow Constraint Allowable Allowable
Cell Name Value Price R.H. Side Increase Decrease
$B$21 Department 1 1300 0 6500 1E+30 5200
$B$22 Department 2 2100 0 6000 1E+30 3900
$B$23 Dep.
This document summarizes research conducted on using text messaging in an automotive dealership. It finds that technicians currently spend around 25% of their time on non-billable communication activities like talking to service advisors in person. This wastes over $50 per repair order and thousands of dollars per month in potential revenue. The document recommends using text messaging instead to minimize this wasted time. Research showed high smartphone ownership means most customers and employees could communicate via text. Implementing this change could regain over 10% of technicians' billable time per day and thousands of dollars in revenue each month.
MECH 3330 Project 2 Due 12116 Design a tube bank that .docxARIV4
MECH 3330 Project 2 Due: 12/1/16
Design a tube bank that will increase the temperature of a 1200 CFM flow of air from 35⁰F to
100⁰F. Assume a constant pressure of 1atm. Each tube will have a diameter of 0.5in and a
length of 24in. The tube configuration must fit in an area of 18in by 18in. Assume reasonable
uniform surface temperature for the outside of the tubes.
Finding will be presented in a report with a memo cover sheet. A narrative including an
Introduction, Analysis Methods, Results, and Conclusions needs to be provided.
Introduction: Describe the problem
Analysis Methods: Describe the methods used to analyze the problem. Include equations used
and any other tools used.
Results: Provide a dimensioned drawing of the design along with any results obtained from
calculations or other analysis methods. The drawing should include the tube configuration,
number of tubes, and tub spacing.
Conclusions: Provide a summary of the problem, analysis, and results. Also discuss what
measurements and controls should be added to insure 100⁰F air at the exit.
Notes:
The report must be created in a word processing program.
All drawings must be created with a computer aided drafting program.
Internally Reference all research sources and also include a reference page
FINAL EXAM MGT 5002
MULTIPLE CHOICE CHAPTER 9
(9-5) Required return
1). If in the opinion of a given investor a stock’s expected return exceeds its required return, this suggests that the investor thinks
a. the stock is experiencing supernormal growth.
b. the stock should be sold.
c. the stock is a good buy.
d. management is probably not trying to maximize the price per share.
e. dividends are not likely to be declared.
(9-1) Preemptive right
2). The preemptive right is important to shareholders because it
a. allows managers to buy additional shares below the current market price.
b. will result in higher dividends per share.
c. is included in every corporate charter.
d. protects the current shareholders against a dilution of their ownership interests.
e. protects bondholders, and thus enables the firm to issue debt with a relatively low interest rate.
(9-2) Classified stock
3). Companies can issue different classes of common stock. Which of the following statements concerning stock classes is CORRECT?
a. All common stocks fall into one of three classes: A, B, and C.
b. All common stocks, regardless of class, must have the same voting rights.
c. All firms have several classes of common stock.
d. All common stock, regardless of class, must pay the same dividend.
e. Some class or classes of common stock are entitled to more votes per share than other classes.
(9-5) Constant growth model
4). If a stock’s dividend is expected to grow at a constant rate of 5% a year, which of the following statements is CORRECT? The stock is in equilibrium.
a. The expected return on the stock is 5% a year.
b. The stock’s ...
Cost-volume-profit (CVP) analysis is used to determine how changes in costs and sales volume affect a company's profits. It requires identifying all costs as either variable or fixed. CVP analysis explores the relationship between costs, revenues, and activity level to measure how costs and profits vary with sales volume. It is used for forecasting profits, budget planning, pricing decisions, determining sales mix, and more. The three elements of CVP are costs, volume, and profit. The break-even point is the sales volume where total revenue equals total costs. Relevant costs must differ between alternatives and affect the decision. Sunk costs do not affect decisions as they cannot be changed.
Landmark Court CasesLaws passed by Congress are usually broad in.docxDIPESH30
The document discusses landmark Supreme Court cases that have provided guidance for interpreting equal employment opportunity laws, including Griggs v. Duke Power Company. In this 1971 case, the Supreme Court ruled in favor of African American employees who argued that Duke Power Company's requirements of a high school diploma or passing two tests to transfer between jobs had a disparate impact and were not justified by job performance needs. The decision established that employment practices that disproportionately exclude protected groups are illegal regardless of employer intent, and that tests must reasonably relate to job performance.
ECO 550 STUDY Possible Is Everything / eco550study.comrock1234561
FOR MORE CLASSES VISIT
www.eco550study.com
Chapter 9—Applications of Cost Theory
MULTIPLE CHOICE
1. Evidence from empirical studies of short-run cost-output relationships lends support to the:
2. The short-run cost function is:
3. Theoretically, in a long-run cost function:
4. Break-even analysis usually assumes all of the following except:
For more course tutorials visit
uophelp.com is now newtonhelp.com
www.newtonhelp.com
1. (TCO A) Seventeen salespeople reported the following number of sales calls completed last month.
72 93 82 81 82 97 102 107 119
86 88 91 83 93 73 100 102
a. Compute the mean, median, mode, and standard deviation, Q1, Q3, Min, and Max for the above sample data on number of sales calls per month.
¬For more classes visits
www.snaptutorial.com
Aspects of Employment and Environment Paper and PowerPoint You are an accountant at a small accounting firm. One of your clients is looking to open a small river-rafting business. Your client will run the business operations from a mobile home office on a piece of land on the riverbank. Your client must decide the best location to start this business and has asked you to explain the accounting advantages of choosing the best location. Your client is also wondering if the business should build a permanent structure on the land, or use the mobile home they already own. Additionally, your client wants to know the insurance implications of this decision. How would the insurance implications of the location decision change the company’s risks and how might your client use insurance to better manage those risks? As a team, conduct research on three
Corporations should support reducing employee commuting by personal vehicles to realize cost savings and improve employee quality of life and local air quality. Cost savings include lower parking costs for corporations and reduced transportation costs for employees. Improved quality of life comes from less time spent commuting and more work-life balance, helping with recruitment, retention, and employee health. Reducing vehicles also improves local air quality. The document discusses strategies for corporations like commuting benefits programs, mobile work policies, and locating near transit to reduce parking needs and encourage alternatives to driving.
Activity Based Costing From The Perspective Of Competitive...Katherine Alexander
This document discusses activity-based costing (ABC) from the perspective of Nigerian manufacturing firms. It examines ABC's ability to support strategic management and provide benefits to organizations. The study utilized contingency theory and employed a descriptive survey design using structured questionnaires. Data analysis with SPSS found four dimensions that explain variances in the data: overall performance, strategic cost allocation, increased efficiency, and increased effectiveness. Regression results showed a positive and significant relationship at the 5% level. Findings reveal no statistically significant difference in cost reduction between ABC and traditional costing, though ABC tended to have a higher effect.
Danshui Plant No. 2 has a one-year contract with Apple to assemble 2.4 million iPhone 4 units but is concerned they will not meet the target as production after 3 months is only 180,000 units. The plant manager Wentao Chen is anxious because operating at this production level results in losses. The document provides production details for 180,000 units in August and calculates variances to determine where costs differ from the standard budget.
This document discusses revolutionizing the downstream supply chain in the oil and gas industry through the use of technology. It proposes a four component system: 1) outsourcing distribution operations, 2) using a shared fleet model, 3) implementing dynamic scheduling and routing, and 4) employing dynamic slot booking and pricing. This system aims to streamline operations, increase efficiency, optimize costs and provide benefits to oil companies, haulers, and customers through real-time data, automated processes and increased visibility and control of operations. Quantitative benefits observed by clients include up to 18% reduction in trips, 15% reduction in inventory, and 25% increase in deliveries handled by the same number of dispatchers.
This document discusses revolutionizing the downstream supply chain in the oil and gas industry through technology-based solutions. It proposes a four component system: 1) outsourcing distribution operations, 2) using a shared fleet model, 3) implementing dynamic scheduling and routing, and 4) enabling dynamic slot booking and pricing. This system aims to streamline operations, increase fleet utilization, optimize scheduling and pricing, and improve customer service and cost savings for oil companies, haulers, and customers. The system has the potential to reduce delivery costs by 15-18% and inventory levels by up to 15% while handling 25% more deliveries with the same staff.
Revolutionizing The Downstream Supply ChainDavid Evans
This document discusses revolutionizing the downstream supply chain in the oil and gas industry through the use of technology and innovative business models. It proposes a system with four components: 1) outsourcing distribution operations to eliminate large in-house logistics teams, 2) implementing a shared fleet model to improve vehicle utilization, 3) introducing dynamic scheduling and routing powered by advanced analytics to optimize operations, and 4) enabling dynamic slot booking and pricing to maximize profits. Adopting this holistic approach through an integrated technology solution can streamline operations, lower costs, and create value for oil companies and their partners.
Coursework ProjectCompanies are paying out too much in dividenCruzIbarra161
This document provides information about a coursework project evaluating a company's dividend policy and its impact on share price. It includes instructions for completing four parts of the project: a) evaluating dividend policy theories; b) analyzing the dividend policy and share price of a selected company over 11 years; c) using the Fisher-Hirshleifer model to examine investment and consumption decisions; and d) discussing the importance of mergers and acquisitions. Additional context and data tables are provided about a company called Motomart for use in completing the project analysis.
Exam 3 Extra Problems1 Formulating the Production Planning.docxcravennichole326
Exam 3 Extra Problems
1 Formulating the Production Planning Model
A company manufactures two electric products, air conditioners and fans. The assembly process
is similar in that both of them must pass through two stages of production: wiring and drilling.
Each air conditioner takes 7 hours of wiring and 5 hours of drilling, while each fan must go through
3 hours of wiring and 2 hours of drilling. During the next period, 260 hours of wiring time are
available and 160 hours of drilling time may be used. Each air conditioner sold yields a profit of
$27, and each fan sold yields a profit of $17.
1. Formulate the objective function algebraically.
2. Write the resource constraints. Would demand constraints or non-negativity constraints be
more appropriate for this system of equations?
3. Upon looking over previous years demand, management has decided that to ensure an ad-
equate supply of air conditioners for a contract, at least 24 units should be manufactured.
Additionally, because they incurred an oversupply in the previous period, management has
also requested that no more than 50 fans be produced during this period. Assist the company
by reformulating the necessary constraints from the above question.
1
The corresponding sensitivity report for the original problem is shown below:
Variable cells
Final Reduced Objective Allowable Allowable
Cell Name Value Cost Coefficient Increase Decrease
$B$6 Air conditioners 0 A 27 15.5 1E+30
$C$6 Fans 80 B 17 1E+30 6.2
Constraints
Final Shadow Constraint Allowable Allowable
Cell Name Value Price R.H. Side Increase Decrease
$D$4 Wiring 240 0 260 1E+30 20
$D$5 Drilling 160 8.5 160 13.3 160
4. Calculate the missing values “A” and “B” in the above report.
5. Suppose management has decided to sell some of it’s drilling capacity for $6 per hour. If 15
hours were sold, what is the impact on profit? What is the new objective function value?
6. The previous page mentions management requiring at least 24 units of air conditioners to be
produced. If this policy were to be implemented, how will this affect contribution?
2
2 Understanding the Sensitivity Report
A manufacturing company produces two products X and Y with contributions to profit per unit
of $10 and $9, respectively. Each product must pass through 4 departments during the manufac-
turing process. The company has formulated a linear programming model to develop a production
strategy to maximize profit, and satisfy the demand of 300 and 500 units for product X and Y ,
respectively. The corresponding sensitivity report for the problem is shown below:
Variable cells
Final Reduced Objective Allowable Allowable
Cell Name Value Cost Coefficient Increase Decrease
$B$16 Product X 300 0 10 17 1E+30
$B$17 Product Y 500 0 9 1E+30 5.6666667
Constraints
Final Shadow Constraint Allowable Allowable
Cell Name Value Price R.H. Side Increase Decrease
$B$21 Department 1 1300 0 6500 1E+30 5200
$B$22 Department 2 2100 0 6000 1E+30 3900
$B$23 Dep.
This document summarizes research conducted on using text messaging in an automotive dealership. It finds that technicians currently spend around 25% of their time on non-billable communication activities like talking to service advisors in person. This wastes over $50 per repair order and thousands of dollars per month in potential revenue. The document recommends using text messaging instead to minimize this wasted time. Research showed high smartphone ownership means most customers and employees could communicate via text. Implementing this change could regain over 10% of technicians' billable time per day and thousands of dollars in revenue each month.
MECH 3330 Project 2 Due 12116 Design a tube bank that .docxARIV4
MECH 3330 Project 2 Due: 12/1/16
Design a tube bank that will increase the temperature of a 1200 CFM flow of air from 35⁰F to
100⁰F. Assume a constant pressure of 1atm. Each tube will have a diameter of 0.5in and a
length of 24in. The tube configuration must fit in an area of 18in by 18in. Assume reasonable
uniform surface temperature for the outside of the tubes.
Finding will be presented in a report with a memo cover sheet. A narrative including an
Introduction, Analysis Methods, Results, and Conclusions needs to be provided.
Introduction: Describe the problem
Analysis Methods: Describe the methods used to analyze the problem. Include equations used
and any other tools used.
Results: Provide a dimensioned drawing of the design along with any results obtained from
calculations or other analysis methods. The drawing should include the tube configuration,
number of tubes, and tub spacing.
Conclusions: Provide a summary of the problem, analysis, and results. Also discuss what
measurements and controls should be added to insure 100⁰F air at the exit.
Notes:
The report must be created in a word processing program.
All drawings must be created with a computer aided drafting program.
Internally Reference all research sources and also include a reference page
FINAL EXAM MGT 5002
MULTIPLE CHOICE CHAPTER 9
(9-5) Required return
1). If in the opinion of a given investor a stock’s expected return exceeds its required return, this suggests that the investor thinks
a. the stock is experiencing supernormal growth.
b. the stock should be sold.
c. the stock is a good buy.
d. management is probably not trying to maximize the price per share.
e. dividends are not likely to be declared.
(9-1) Preemptive right
2). The preemptive right is important to shareholders because it
a. allows managers to buy additional shares below the current market price.
b. will result in higher dividends per share.
c. is included in every corporate charter.
d. protects the current shareholders against a dilution of their ownership interests.
e. protects bondholders, and thus enables the firm to issue debt with a relatively low interest rate.
(9-2) Classified stock
3). Companies can issue different classes of common stock. Which of the following statements concerning stock classes is CORRECT?
a. All common stocks fall into one of three classes: A, B, and C.
b. All common stocks, regardless of class, must have the same voting rights.
c. All firms have several classes of common stock.
d. All common stock, regardless of class, must pay the same dividend.
e. Some class or classes of common stock are entitled to more votes per share than other classes.
(9-5) Constant growth model
4). If a stock’s dividend is expected to grow at a constant rate of 5% a year, which of the following statements is CORRECT? The stock is in equilibrium.
a. The expected return on the stock is 5% a year.
b. The stock’s ...
Cost-volume-profit (CVP) analysis is used to determine how changes in costs and sales volume affect a company's profits. It requires identifying all costs as either variable or fixed. CVP analysis explores the relationship between costs, revenues, and activity level to measure how costs and profits vary with sales volume. It is used for forecasting profits, budget planning, pricing decisions, determining sales mix, and more. The three elements of CVP are costs, volume, and profit. The break-even point is the sales volume where total revenue equals total costs. Relevant costs must differ between alternatives and affect the decision. Sunk costs do not affect decisions as they cannot be changed.
Landmark Court CasesLaws passed by Congress are usually broad in.docxDIPESH30
The document discusses landmark Supreme Court cases that have provided guidance for interpreting equal employment opportunity laws, including Griggs v. Duke Power Company. In this 1971 case, the Supreme Court ruled in favor of African American employees who argued that Duke Power Company's requirements of a high school diploma or passing two tests to transfer between jobs had a disparate impact and were not justified by job performance needs. The decision established that employment practices that disproportionately exclude protected groups are illegal regardless of employer intent, and that tests must reasonably relate to job performance.
ECO 550 STUDY Possible Is Everything / eco550study.comrock1234561
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Chapter 9—Applications of Cost Theory
MULTIPLE CHOICE
1. Evidence from empirical studies of short-run cost-output relationships lends support to the:
2. The short-run cost function is:
3. Theoretically, in a long-run cost function:
4. Break-even analysis usually assumes all of the following except:
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1. (TCO A) Seventeen salespeople reported the following number of sales calls completed last month.
72 93 82 81 82 97 102 107 119
86 88 91 83 93 73 100 102
a. Compute the mean, median, mode, and standard deviation, Q1, Q3, Min, and Max for the above sample data on number of sales calls per month.
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Aspects of Employment and Environment Paper and PowerPoint You are an accountant at a small accounting firm. One of your clients is looking to open a small river-rafting business. Your client will run the business operations from a mobile home office on a piece of land on the riverbank. Your client must decide the best location to start this business and has asked you to explain the accounting advantages of choosing the best location. Your client is also wondering if the business should build a permanent structure on the land, or use the mobile home they already own. Additionally, your client wants to know the insurance implications of this decision. How would the insurance implications of the location decision change the company’s risks and how might your client use insurance to better manage those risks? As a team, conduct research on three
1. Nova Southeastern University
Wayne Huizenga Graduate School
Of Business & Entrepreneurship
Assignment for Course: MGT 5160 Data Driven Decision Making
Title of Assignment: Make the most cost efficient, revenue generating
business decision by manipulating data and using various of analytical
software.
Software used: Analytic Problem Solver (Simulation function)
Instructor’s Grade on Assignment: A
2. Executive Summary
Bling Max Car Wash offers three levels of car wash service: Economy, Custom, and Deluxe.
Bling Max Car Wash prices are relatively higher than its competitors; Therefore, The owner Bernard
West believes that extended wait times could result in loss of customers and profits. In an effort to
increase revenue, the car wash owner Barnard is considering investing in a blow-off equipment for
$11,500 that will reduce all wash cycles by one minute. In addition to the blow-off equipment, Barnard
is also considering adding a higher-end car wash service that would cost him $8,000. In order to justify
these investments, a case study was conducted that included: Statistical analysis, simulations models,
forecast, and histogram.
After conducting a series of simulations, the case study shows that the best possible choice is to
invest in the blow-off, and not the higher-end car wash service. Four different washing simulation
scenarios were presented during this case study: (1) Current Situation, (2) New Blow-off (3) New Blow-
off with fourth washing service at $10.00 (4) New Blow-off with fourth washing service at $11.00. The
simulations revealed that annual profit will increase by $4,855.00 when all service time is reduced by
one minute.
3. Background
Bernard West took a loan against his house and used his life savings to invest in an eight year
old car wash. Bling Max Car Wash, the car wash Bernard invested in has exceeded every expectation.
The car wash currently offers three washing service. Due to the relatively high prices of Bling Max
washing services, Bernard is concern that long lines and wait times will drive customers away (Rokicki,
2016). Bernard gathered data on service time and inter-arrival time, and is considering investing $11,500
on a Blow-off equipment that will reduce service time by one minute. In addition, Bernard is also
considering adding a fourth washing service (Elite) which would add one minute to the deluxe time. The
cost of adding the elite service is $8,000. Although Barnard has acquired data on the higher-end washing
service from his brother, he is unsure of his return on investment.
In order to gain clarity of the current situation, Bernard will conduct a series of simulations
using different scenarios to determine the best option. The current situation will stay the same in the first
scenario. The blow-off equipment will be added to the second scenario. The third scenario will include
the blow-off and the fourth washing service at $11.00. And finally the fourth scenario will include the
blow-off and the fourth washing service at $10.00. Bernard plans to make a decision based on the
scenario that has the most reasonable return on investment.
Problem
Determine if extended wait time affect revenue generation of Bling Max Car wash by conducting
a simulation modeling on four different scenarios.
4. Analysis
This report was conducted to show the statistical correlations between service times/
inter-arrival time and revenue by using a simulation model on four different operation scenarios.
This report includes the following analysis:
1) A brief one- variable summary of the revenue for the four
operation scenarios
2) Histogram of service time and inter arrival time
3) Simulation results of the four operation Scenarios
4) Future value of investment
5. One- Variable Summary
One variable summary is a descriptive statistic table that summarizes a set of data. This table
provides overviews of multiple data and is easy identify and analyze a given set of data. The table
includes but not limited to mean, medium, mode standard deviation, range, skewness, and the kurtosis. A
one- variable summary of the four simulated scenarios is list below in table 1.
Table 1: One- Variable Summary
6. The mean is the average daily revenue of the four operation scenarios. The mean is
calculated by adding the revenue of all four scenarios and dividing the sum by four. The average
daily revenue for all four scenarios is $ 694.01.
Histogram
Histograms are graphical displays of data using bars of different heights. It is similar to a bar
chart; however, histograms consolidate numbers into ranges (mathsisfun.com). A histogram may
measure the probability of an occurrence or simply the amount of an occurrence. Histograms are
constructed with variables which are split into intervals known as bins.
Table: 2 Histogram
7. Inter-Arrival Times (IAT) shows that while a large percentage (60.27%) of customers will be in
and out in seven minutes, there are still 2% of the customers who will wait for 35 minutes from arrival
to completion
Simulation results
Computer simulation imitates the operation of a stochastic system by using the corresponding
probability distributions to randomly generate the various events that occur in the system (F.S. Hillier
and M.S. Hillier, 2014). One of the few benefits of using simulation is that it enables experimentation
without risk to the actual system. The four simulations that was generated for Bernie’s Bling-Max
Carwash produced different results in regards to revenues and profits. In addition, the average wait time
for current situation (long cycle + 3 wash levels) and invest in exiting blow-off (3 wash levels)
decreased drastically to eleven minutes and forty-one seconds. On the other hand, simulation for blow-
off +4 wash levels at pricing “a”, and blow-off +4 wash levels at pricing “b” generated the same number
of average wait time of eight minutes and eight seconds.
Furthermore, estimating the probability distributions for service times and inter-arrival times is
very important for Bling-Max Carwash. The exponential distribution best represented the IAT (inter-
arrival times) because the arrival of customers is known as random events. Customer-selected service
time is represented by uniform integer distribution since there is a fixed minimum and maximum value,
and all integer values are equally likely. The simulation models can be used for a wide range of
decisions, since it is easy to use and understand. The simulations for the current situation (long cycle + 3
wash levels), investing in the new blow-off (3 wash levels), blow-off +4 wash levels at pricing “a”, and
blow-off +4 wash levels at pricing “b” enables Bling-Max Carwash to experiment with the system and
observe its behavior at the same time. The four simulations run can be represented as a statistical
experiment that is generating statistical observations of the performance of the simulated system.
One of the main purpose of running experiments on a simulation model is to answer “what-if”
questions (F.S. Hillier & M.S. Hillier, 2014). The output of Bling-Max Carwash from simulation run
delivered statistical estimates of the desired measures of the performance based on changes in minutes,
price and probability. Setting the initial seed to 1234 and running 10,000 iterations, will most likely
8. generate more accurate results when using the simulation due to the increase number of replications.
Since Bling-Max Carwash had surpassed the Bernie’s expectations as a small business among other
similar enterprises in Fort Lauderdale, conducting the simulation was the best approach for determining
the best option that would benefit Bernie’s Bling-Max Carwash. The results for running the simulation
can help in finding the cause of a past occurrence, or to forecast future effects or outcomes of assumed
conditions. Comparing the results from the four simulation run with analytical results available is very
important.
Table: 3 Simulation Result (Profit & Revenue)
Current Situation Blow-off
Blow-off + 4 wash ($ 11.00) Blow-off + 4 wash ($ 10.00)
The current situation simulation that was conducted had a ninety-five percent probability that
eighty-five cars washed will exceed the car count of eighty. According to the results for the current
situation simulation, Bling-Max Carwash annual revenue and profit was $234,491 and $153,719,
respectively. Simulation for the new Blow-off investment reflected the improved cycle times that
generated annual revenue and profit of $243,959 and $158,574, respectively. The average wait time for
9. the new Blow-off investment of six minutes and forty seconds is very impressive. By investing in the
existing blow-off, Bernie will have an increase in annual profit of $4,855.00, and a change in average
wait time of eleven minutes and forty-one seconds. The reduced minutes will enable Bling-Max
Carwash to generate additional revenue and profit. In addition, Bernie’s Bling-Max Carwash will have a
simple payback of about 2.37 years for investing in existing Blow-off.
The simulation for the new blow-off + 4-washes with pricing “a” generated annual revenue of
$249,451, and annual profit of $162,143. The annual revenue and profit is higher than all of the
simulation that was conducted. The simulation model reflected the improved cycle times from the new
blow-off including the impact of “a” pricing. The simulation for the new blow-off + 4-washes with
pricing “b” generated lower annual revenue and profit. The total annual revenue for this simulation was
$222,568, and $144,669 for annual profit. The simulation was updated to reflect the improved cycle
times from the new blow-off including the impact of “b” pricing. Changes in price and probability
lowered the annual revenue and profit for the new blow-off plus the 4-washes with “b” pricing. Based
on the simulation results, the new blow-off plus 4-washes with pricing “a” and “b” differs from the
current situation and new blow-off investment due to accommodation of elite car wash and changes in
costs and probabilities.
10. Table: 4 Simulation Result (Profit & Revenue)
Current Situation Blow-off
Blow-off + 4 wash ($ 11.00) Blow-off + 4 wash ($ 10.00)
The simulation is especially useful for situations too complex to be analyzed using the analytical
models (F.S. Hillier & M.S. Hillier, 2014). In this case, increasing the number of trials increased the
accuracy of the simulation results. The average waiting time per minutes for the new blow-off plus 4-
washes with pricing “a” and “b” was the same at eight minutes and eight seconds. Investing in the new
blow-off seems like a great idea because it has less average waiting time per minute. During the
simulation process, the percentage chance that the average wait time is ten minutes or less, ten to twenty
minutes, changed a lot from the current situation to the new blow-off investment. In addition, there was
a big shift in percentage chance that the average wait time will be ten minutes or less, wait time is ten to
twenty minutes. For instance, the new blow-off plus 4-washes with pricing “a” has ten percent chance of
waiting less than ten minutes, and a twenty percent chance of waiting for ten to twenty minutes. The
incremental annual profit for the new blow-off plus 4-washed with pricing versus investing in existing
blow-off (3 wash levels) is an increase of $ 3,569. The new blow-off plus 4-washes with pricing “b” will
result in a loss of $ 13,905 when comparing the incremental annual profit by investing in new blow-off.
11. Based on the simulation model, the average wait time for the new blow-off plus 4-washes with pricing
“a” and “b” as compared to investing in the new blow-off is two minutes and four seconds.
Future Value of Investment
Future Value is the value of cash in a specific time period; this value is the amount of money
accumulated from an interest rate. Future value is calculated when the original data is multiplied by the
accumulation function. Below are sets of tables that show the future value of different investment
scenarios.
Table: 5
Figure 1 Figure 2
This table shows the loan payback amount when $11,500 is borrowed at a 6.5 % interest rate.
Figure 1 illustrate that $15,756.00 will be paid back when a loan of $11,500 is taking out at a five year
pay period. Figure 2 illustrate that $16,780.14 when the same loan is taking out, but the pay period is six
years. An access of $1,024.14 interest will be accrued if a six-year period is select instead of the five-
year period paid if option.
$ 15,756.00 $ 16,780.14
5 Years 6 Years
12. Conclusion and Recommendations
Bernard should invest in the blow-off equipment. Series of simulations model shows that
revenue will increase by 5 % when just the blow-off equipment is added to the three washing service.
Even though yearly revenue will increase by investing in the special dispenser, Bernard is expecting a
child and cannot afford to make further investment. The car wash will be more profitable with reduction
of service/ wait time.
13. End of Case Study Answers
What are the implications from the standpoint of business performance and from customer perception
and retention?
The biggest issue is wait time which is correlated to service time. When wait time is extended,
Customers are more likely to go to a nearby competitor since prices are not on the low end. The
Blow-off equipment will reduce service time thus allowing more cars to enter the wash service. In
addition, reduction of service time will create less wait time and increase of customer satisfaction.
Profit and customer satisfaction will increase when service time decrease.
“Efficiency is doing thing right and effectiveness is doing the right thing”
While efficiently increasing profits by gathering data, Bernie effectively increase customer
satisfaction
14. References
Ageloff, R., Parsons, J. J., Oja, D., Carey, P., Ageloff, R., & DesJardins, C. A. (2013). New perspectives
on Microsoft Excel 2013.
Borshchev, A. (2013). The big book of simulation modeling: Multimethod modeling with AnyLogic 6.
Lisle, IL: AnyLogic North America Hillier, F. S., & Hillier, M. S. (2014.). Introduction to management
science: A modeling and case studies approach with spreadsheets.
Brigham, E. F., & Ehrhardt, M. C. (2014). Financial management: Theory and practice. Mason, OH:
South-Western.
Histograms. (2015). Mathisfun.com. Retrieved from https://www.mathsisfun.com/data/histograms.html
Rokicki, P. (2015).Bling Max Car Wash case study. Fort Lauderdale, FL: Nova Southeastern University.
.Law, A. M. (2014). Simulation modeling and analysis (8th ed., McGraw-Hill Series in Industrial
Engineering and Management). McGraw-Hill Education; 5 edition.