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A manufacturer can produce 12000 bearings per day. The manufacturer received an order of 8000 bearings per day from a customer. The cost of holding a bearing in stock is Rs.0.20 per month. Setup cost per production run is Rs.500. Assuming 300 working days in a year, the frequency of production run should be
- a)4.5 days
- b)4.5 months
- c)6.8 days
- d)6.8 months
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
A manufacturer can produce 12000 bearings per day. The manufacturer re...
K = 12000
d = 8000
Cc = .2*12 = 2.4
Co = 500
D = 8000*300 = 2400000
EOQ = √ (2DCo/Cc) * (k/(k-d))
T = D / EOQ You will get answer
d = 8000
Cc = .2*12 = 2.4
Co = 500
D = 8000*300 = 2400000
EOQ = √ (2DCo/Cc) * (k/(k-d))
T = D / EOQ You will get answer
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Community Answer
A manufacturer can produce 12000 bearings per day. The manufacturer re...
The frequency of production run can be calculated by considering the demand and production capacity of the manufacturer, as well as the cost factors involved.
Given:
Production capacity per day = 12000 bearings
Order from customer per day = 8000 bearings
Cost of holding a bearing in stock = Rs. 0.20 per month
Setup cost per production run = Rs. 500
Working days in a year = 300
To calculate the frequency of production run, we need to find out how many days it takes to produce the required quantity of bearings and then calculate the frequency based on the working days in a year.
Step 1: Calculate the production time required to fulfill the customer order
The manufacturer can produce 12000 bearings per day, and the customer order is for 8000 bearings per day. So, it will take (8000/12000) = 0.67 days to produce the required quantity of bearings.
Step 2: Calculate the setup cost per year
The setup cost per production run is Rs. 500. Since the frequency of production run is not known yet, we need to calculate the total number of production runs in a year to determine the setup cost per year.
The number of production runs in a year can be calculated by dividing the total working days in a year by the production time required to fulfill the customer order.
Number of production runs = (Total working days in a year) / (Production time required to fulfill the customer order)
Number of production runs = 300 / 0.67 = 447.76 (approx.)
Step 3: Calculate the holding cost per year
The holding cost per bearing is Rs. 0.20 per month. To calculate the holding cost per year, we need to multiply the holding cost per bearing by the number of bearings produced in a year.
Holding cost per year = (Holding cost per bearing) * (Number of bearings produced in a year)
Holding cost per year = (0.20) * (12000) * (300) = Rs. 72000
Step 4: Calculate the total cost per year
The total cost per year is the sum of the setup cost per year and the holding cost per year.
Total cost per year = (Setup cost per year) + (Holding cost per year)
Total cost per year = Rs. 500 + Rs. 72000 = Rs. 72500
Step 5: Calculate the frequency of production run
The frequency of production run can be calculated by dividing the total working days in a year by the number of production runs in a year.
Frequency of production run = (Total working days in a year) / (Number of production runs in a year)
Frequency of production run = 300 / 447.76 = 0.67 days
Therefore, the frequency of production run is approximately 0.67 days, which corresponds to option (c) 6.8 days.
Given:
Production capacity per day = 12000 bearings
Order from customer per day = 8000 bearings
Cost of holding a bearing in stock = Rs. 0.20 per month
Setup cost per production run = Rs. 500
Working days in a year = 300
To calculate the frequency of production run, we need to find out how many days it takes to produce the required quantity of bearings and then calculate the frequency based on the working days in a year.
Step 1: Calculate the production time required to fulfill the customer order
The manufacturer can produce 12000 bearings per day, and the customer order is for 8000 bearings per day. So, it will take (8000/12000) = 0.67 days to produce the required quantity of bearings.
Step 2: Calculate the setup cost per year
The setup cost per production run is Rs. 500. Since the frequency of production run is not known yet, we need to calculate the total number of production runs in a year to determine the setup cost per year.
The number of production runs in a year can be calculated by dividing the total working days in a year by the production time required to fulfill the customer order.
Number of production runs = (Total working days in a year) / (Production time required to fulfill the customer order)
Number of production runs = 300 / 0.67 = 447.76 (approx.)
Step 3: Calculate the holding cost per year
The holding cost per bearing is Rs. 0.20 per month. To calculate the holding cost per year, we need to multiply the holding cost per bearing by the number of bearings produced in a year.
Holding cost per year = (Holding cost per bearing) * (Number of bearings produced in a year)
Holding cost per year = (0.20) * (12000) * (300) = Rs. 72000
Step 4: Calculate the total cost per year
The total cost per year is the sum of the setup cost per year and the holding cost per year.
Total cost per year = (Setup cost per year) + (Holding cost per year)
Total cost per year = Rs. 500 + Rs. 72000 = Rs. 72500
Step 5: Calculate the frequency of production run
The frequency of production run can be calculated by dividing the total working days in a year by the number of production runs in a year.
Frequency of production run = (Total working days in a year) / (Number of production runs in a year)
Frequency of production run = 300 / 447.76 = 0.67 days
Therefore, the frequency of production run is approximately 0.67 days, which corresponds to option (c) 6.8 days.
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A manufacturer can produce 12000 bearings per day. The manufacturer received an order of8000 bearings per day from a customer. The cost of holding a bearing in stock is Rs.0.20 permonth. Setup cost per production run is Rs.500. Assuming 300 working days in a year, thefrequency of production run should bea)4.5 daysb)4.5 monthsc)6.8 daysd)6.8 monthsCorrect answer is option 'C'. Can you explain this answer?
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A manufacturer can produce 12000 bearings per day. The manufacturer received an order of8000 bearings per day from a customer. The cost of holding a bearing in stock is Rs.0.20 permonth. Setup cost per production run is Rs.500. Assuming 300 working days in a year, thefrequency of production run should bea)4.5 daysb)4.5 monthsc)6.8 daysd)6.8 monthsCorrect answer is option 'C'. Can you explain this answer? for Mechanical Engineering 2024 is part of Mechanical Engineering preparation. The Question and answers have been prepared according to the Mechanical Engineering exam syllabus. Information about A manufacturer can produce 12000 bearings per day. The manufacturer received an order of8000 bearings per day from a customer. The cost of holding a bearing in stock is Rs.0.20 permonth. Setup cost per production run is Rs.500. Assuming 300 working days in a year, thefrequency of production run should bea)4.5 daysb)4.5 monthsc)6.8 daysd)6.8 monthsCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Mechanical Engineering 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A manufacturer can produce 12000 bearings per day. The manufacturer received an order of8000 bearings per day from a customer. The cost of holding a bearing in stock is Rs.0.20 permonth. Setup cost per production run is Rs.500. Assuming 300 working days in a year, thefrequency of production run should bea)4.5 daysb)4.5 monthsc)6.8 daysd)6.8 monthsCorrect answer is option 'C'. Can you explain this answer?.
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