Question 2. A company is about to begin production of a new product. The manager of the department that produces one of the components for the product wants to know how often the machine used to produce the item will be available for other work. The machine will produce the item at a rate of 200 units a day. Eighty units are used daily in assembling the final product. Assembly takes place five days a week, 50 weeks a year. The manager estimates that it will take almost a full day to get the machine ready for a production run, at a cost of $300. Inventory holding costs will be $10 per unit. Round to the nearest whole number a. What run quantity will minimize total annual costs (EPQ)? b. What is the length of a production run in days? c. During production, how many units a day go to inventory as opposed to into production? d. What is the cycle time for optimal run time?

Question 54 It is possible for companies to use some combination of push and pull strategy. O True O False

Question 3 (1 point) ✓ Saved Which of these items product? (not a service) Haircut Dry cleaning Cell phone Mowing Question 4 (1 point) A Saved is responsible for all debt and is easy to r

v Question Completion Status: QUESTION 11 The accompanying table shows the demand and supply schedules for lobster. The U.S. government decides that the incomes of lobster farmers should be maintained at a level that allows them to survive. It therefore implements a price floor of $14 per pound by buying surplus lobster until the market price is $14 per pound. Quantity Demand (thousands of pounds) Quantity Supplied (thousands of pounds) Price of Lobster (per pound) $22 0. 360 20 20 320 18 40 280 16 60 240 14 80 200 12 100 160 10 120 120 8 140 80 6 160 40 4 180 Reference: Ref 2-1 Since lobster is an important source of protein and omega-3, the government decides to provide the surplus lobster it purchases to nursing homes at a price of only $12 per pound. Assume that nursing homes will buy any amount of lobsters available at this low price, but families of nursing home patients now reduce their purchases of lobsters at any price by 60 thousand pounds because their family members are…