Which of the following assumptions does not belong in a list of characteristics of lean production?
A) labor is more costly than machines
B) set up time can be reduced
C) minimize inventory to cut costs and wastage
D) maximize backwards integration
E) inspection to prevent defective production
D
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Boland Manufacturing prepared a 2016 budget for 120,000 units of product. Actual production in 2016 was 130,000 units. To be most useful, what amounts should a performance report for this company compare?
a) The actual results for 130,000 units with a new budget for 130,000 units. b) The actual results for 130,000 units with last year's actual results for 134,000 units. c) It doesn't matter. All of these choices are equally useful. d) The actual results for 130,000 units with the original budget for 120,000 units.
How much money can be saved annually by setting up a lock-box system that will process 500 cheques per day at a cost of $0.20 per cheque if each cheque averages $220, collection float is reduced by three days, and the annual interest rate is 8 percent?
A) $10,000 B) ($10,100) C) $16,400 D) ($27,700)