Homework Answers
Total production possible = Regular + OT = 1600 + 20%*1600 = 1600 + 320 = 1920
Formulas:
OT production = Demand - Production - Ending inventory of previous month, if the value is negative then OT = 0, if positive the value can be maximum 320 (20%*1600)
Ending inventory = Regular production + OT production + Ending inventory of previous month - Demand. If the value is negative it means we are not able to meet demand and ending inventory is zero.
For Example in Jan = 1600+2000+0-1500 = 300
May Ending inventory = 1600+320+20 - 2300 = -360 (Means it will be zero)
Stockouts = Demand - (Regular production + OT production + Ending inventory of previous month). if the value is negative it means there are no stockouts and hence stockout = zero.
For Example in May = 2300 - (1600+320+20) = 2300 - 340 = 360
Please note - In july we have produced 300 OT units as required per demand instead of maximum 320 capacity.
| Plan D | Cost | ||||||||
| Month | Demand | Production | OT production | Ending inventory | Stockouts | Month | Inventory cost = Ending inventory * 20 | OT cost = 50*OT units | Stockout cost = Stockout units * 60 |
| December | 200 | December | |||||||
| January | 1,500 | 1600 | 0 | 300 | 0 | January | $ 6,000.00 | 0.0 | 0.0 |
| February | 1,700 | 1600 | 0 | 200 | 0 | February | $ 4,000.00 | 0.0 | 0.0 |
| March | 1,800 | 1600 | 0 | 0 | 0 | March | 0.0 | 0.0 | 0.0 |
| April | 1,900 | 1600 | 320 | 20 | 0 | April | $ 400.00 | $ 16,000.00 | 0.0 |
| May | 2,300 | 1600 | 320 | 0 | 360 | May | 0.0 | $ 16,000.00 | $ 21,600.00 |
| June | 2,200 | 1600 | 320 | 0 | 280 | June | 0.0 | $ 16,000.00 | $ 16,800.00 |
| July | 1,900 | 1600 | 300 | 0 | 0 | July | 0.0 | $ 15,000.00 | 0.0 |
| August | 1,400 | 1600 | 0 | 200 | 0 | August | $ 4,000.00 | 0.0 | 0.0 |
| 14,700 | 12,800 | 1,260 | Total | $ 14,400.00 | $ 63,000.00 | $ 38,400.00 | |||
| total overtime production cost | $ 63,000.00 |
| Total inventory | $ 14,400.00 |
| Total Stockout cost | $ 38,400.00 |
| total cost,excluding normal time labor cost for plan D | $ 115,800.00 |
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