Quiz_Ch.4 - 1 Problem 4-1 You are in a line at the bank...

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1. Problem 4-1 You are in a line at the bank drive through and 10 cars are in front of you. You estimate that the clerk is taking about five minutes per car to serve. Required: How long do you expect to wait in line? Wait Time Minutes 2. Problem 4-2 A firm has redesigned its production process so that it now takes 10 hours for a unit to be made. Using the old process, it took 15 hours to make a unit. Required: If the process makes one unit each hour on average and each unit is worth $1,500, what is the reduction in work-in-process value? (Omit the "$" sign in your response.) Reduction in WIP $ 3. Problem 4-3 A book publisher has fixed costs of $300,000 and variable costs per book of $8.00. The book sells for $23.00 per copy. Required: (a) How many books must be sold to break even? Books to be sold (b) If the fixed cost increased, would the new break-even point be higher or lower? (c) If the variable cost per unit decreased, would the new break-even point be higher or lower?
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4. Problem 4-5
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This note was uploaded on 03/08/2011 for the course IDS 302 taught by Professor Maxlund during the Spring '11 term at Mesa State.

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Quiz_Ch.4 - 1 Problem 4-1 You are in a line at the bank...

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