The journal entry process requires the review, approval and input of a company's business transactions in the General Ledger. In one firm, transactions arrive to be entered in the Ledger at an average rate of 10 hour. The following tableprovides information about the process. Only one person is needed to perform each step.Process StepReviewApproveInputAvg. Time to Perform Step(per entry)3 min5 min.0.5 mina. i) Find the capacity of the process and identify the bottleneck step.ii) Find the raw process time.iii) Find the throughput of the process.b. On average, there are 8 transactions in process." How long, on average, does a transaction spend in the system?Number of PersonnelAvailable221c. Up to now, two full-time managers have been responsible for approving entries. The firm is experimenting with a computerized approval process. The computer program runs in batch mode at the beginning of each 8-hourday, and is completed almost instantly. Transactions continue to arrive at the rate of 10/bour during the 8-hour day. You may assume that arrivals are distributed uniformly throughout the dayd. How will the computerized process affect the time in system? The number in system? The throughput? Describe the impact as precisely as you can.

Capacity of process= (1/ processing time )* number of servers Processing time inhrsreview=3 min =…

Answered: The journal entry process requires the…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

See similar textbooks

Similar questions

A/What is the relationship between the goals of a process system and the risk associated with that system? (1 page max.) B/What is the relationship between the goals of a process system and the risk associated with that system? (1 page max.)
5. Flo's Quick-Lube performs fast oil changes (A) and checks for tire pressure and wear (B) and brakes and alignment (C) according to the process flow indicated by the diagram below. Each incoming car is put on a jack while one technician performs task A and another simultaneously performs task B and a third performs task C (which must follow task B due to the limited space under the vehicle on the jack). The server for task A takes on average 3 minutes to process a job, the server for task B takes on average 2 minutes to process a job, and the server for task C takes on average 2 minutes to process a job. Server A can be operated in parallel with Servers B and C. All processing times are random and exponentially distributed, and jobs are allowed to queue in front of each server. (You can assume that the number of jacks is sufficient to allow any length of queue.) (a) AND B A C Figure 1: Flo's Process Flow What is the capacity of the process (in orders/minute)?
Please do not give solution in image format thanku
Of the following process types, ________ has the lowest output variety, and the highest output volume. A) Assembly line B) Batch C) Job shop D) Project
Explain how having more work-in-process inventory can improve the efficiency of a process. How can this be bad?
Melissa's Photo Studio offers both individual and group portrait options. The process flow diagram below shows that all customers must first register and then pay at one of two cashiers. Then depending on if they want a single or group portrait they go to different rooms. Finally everyone picks up their own finished portrait. RegistrationCahier ACahier B(4 min)(4 min)(6 min) x y graph Pick up portraitIndividualGroup(5 min)(12 min)(15 min)portrait takenportrait taken x y graph a. How long, on average, does it take to complete the entire process for a group portrait? nothing minutes. (Enter your response as an integer.)
State whether the following statements are true or false. If the statement is false, write its correct answer: 1. Process and Product design should be put in a way to reach customer satisfaction, and decrease profit and selling. Answer: 2. Operations management can be utilized in Process design, for it is beneficial to reduce the value of the product at every phase of its production. Answer: 3. A flow chart is a diagram that uses arrows and different symbols to represent consecutive events of a workflow or process. Answer: 4. The five key performance factors to access a process performance are: quantity, speed, dependability, flexibility and cost. Answer: 5. The process design consists of different steps and stages that are classified in an unorganized order, for the successful creation of the final product. Answer: 6. In the service industry, it’s possible to separate service design from process design. Answer: 7. Design is any part of an organization which…
After looking and the statement and the flow charts shapes it need to be in: Create a flowchart of the passenger arriving at an airport for departure process ?
Find ways to improve the process efficiency by off-loading the bottleneck
16 Proofreading is part of the: Select one: put of O a. Completion process O b. Writing process question O c. Planning process d. Initial process ious page
Question asked : Drawing from your own experience, select a process used at your place of work or other interactions with an organization that you would like to see improved. Explain why you picked that process. Imagine that a system is to be implemented (or an existing system improved) to make that process better, and write five (5) functional requirements for the system to perform. Each requirement is one sentence in length and addresses one thing the system must do. We are interested in functional requirements – the activities the system must perform to support the identified process. Use the information above to create your functional requirements statements. Student Answered: Process: Expense Reporting Expense reporting can be tedious and time-consuming for many organizations. An expense report is submitted for approval, details are manually entered, and reimbursement is followed up. At many organizations, expense reporting can take time and effort. The process involves manual…
Ted Short, manager of procurement at the Lake Luna Medical Center (LLMC), is starting a process to examine at the general process that is followed at his center for procurement of medical supplies at his facility. His first step is to develop a flowchart for the current process that employees at his center follow. He has asked you to draw that flowchart for him and make any obvious changes to shorten the process. Here are the key steps that are followed: The LLMC employee fills out a paper requisition and sends that to his department head for approval. The department secretary first examines the requisition to see if all needed information is present. If it is, then she sends to the department head for approval. If not, she returns to the employee for any needed corrections. The employee then returns the requisition to the department secretary for review again. Requisitions with the correct information are sent to the department head. The department head reviews the item to determine…

SEE MORE QUESTIONS

Recommended textbooks for you

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Business in Action

Operations Management

ISBN:

9780135198100

Author:

BOVEE

Publisher:

PEARSON CO

Purchasing and Supply Chain Management

Operations Management

ISBN:

9781285869681

Author:

Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:

Cengage Learning

Production and Operations Analysis, Seventh Editi…

Operations Management

ISBN:

9781478623069

Author:

Steven Nahmias, Tava Lennon Olsen

Publisher:

Waveland Press, Inc.

SEE MORE TEXTBOOKS