Question

In: Accounting

create a semiannual production plan for the Apple iPhone 12 product using notional demand and inventory...

create a semiannual production plan for the Apple iPhone 12 product using notional demand and inventory data. The initial production should be based on the market estimates of what is intended to be sold and produce. The production plan should be supported a market forecast.

Prompt: The plan can be submitted in a basic tabular (spreadsheet) format, and must include the following;

1. Create a semiannual production plan using notional demand and inventory

2. Estimate of labor hours consumed

3. Estimate the number of worker requirements considering a standard work week, current inventory levels, receipts of new inventory during each month, and varying demand levels for each month of production

Solutions

Expert Solution

The productiong plan will start with forecasted sales and the considering opeening and closing inventory we will get production unit. For requirement of person, we will get total work week divided by 4 with assumption that i a month there are 4 wroking week.

Following table where i have included sample data. On sales i have assumed 10% increase month on month

Particulars Months
1 2 3 4 5 6
Forecasted sales Unit (a)     1,000.00     1,100.00     1,210.00     1,331.00     1,464.10     1,610.51
Opening Inventory (b)        100.00          50.00          50.00          50.00          50.00          50.00
Closing Inventory (Minimum Inventory level) (c )          50.00          50.00          50.00          50.00          50.00          50.00
Units to be Manufactured (d=(a-b+c)     1,050.00     1,100.00     1,210.00     1,331.00     1,464.10     1,610.51
Standard Labour hour required per unit (e )          10.00          10.00          10.00          10.00          10.00          10.00
Estimated Total Labour hours required (f=d*e) 10,500.00 11,000.00 12,100.00 13,310.00 14,641.00 16,105.10
Standard hours in week (g)          40.00          40.00          40.00          40.00          40.00          40.00
Number of work week required (h=g/e)        262.50        275.00        302.50        332.75        366.03        402.63
Number of worker required (i=h/4)          65.63          68.75          75.63          83.19          91.51        100.66

Following table with excel formula :

Particulars Months
1 2 3 4 5 6
Forecasted sales Unit (a) 1000 =B3*110% =C3*110% =D3*110% =E3*110% =F3*110%
Opening Inventory (b) 100 =B5 =C5 =D5 =E5 =F5
Closing Inventory (Minimum Inventory level) (c ) 50 =B5 =C5 =D5 =E5 =F5
Units to be Manufactured (d=(a-b+c) =B3+B4-B5 =C3+C4-C5 =D3+D4-D5 =E3+E4-E5 =F3+F4-F5 =G3+G4-G5
Standard Labour hour required per unit (e ) 10 10 10 10 10 10
Estimated Total Labour hours required (f=d*e) =B6*B7 =C6*C7 =D6*D7 =E6*E7 =F6*F7 =G6*G7
Standard hours in week (g) 40 40 40 40 40 40
Number of work week required (h=g/e) =B8/B9 =C8/C9 =D8/D9 =E8/E9 =F8/F9 =G8/G9
Number of worker required (i=h/4) =B10/4 =C10/4 =D10/4 =E10/4 =F10/4 =G10/4

Related Solutions

Describe the types of costs involved in the production of the Apple iphone?
Describe the types of costs involved in the production of the Apple iphone?
Describe the factors of production used to produce Apple iphone?
Describe the factors of production used to produce Apple iphone?
Using Apple ... 1. Describe the methods that you plan to use to create global presence...
Using Apple ... 1. Describe the methods that you plan to use to create global presence and visibility in your advertising campaigns. 2. Select the best promotional tools to promote your product in the global market. Discuss the associated pros and cons of these tools as well as any ethical concerns.
Product: IPhone Target Score: College Students Create a questionnaire aimed at the target market of the...
Product: IPhone Target Score: College Students Create a questionnaire aimed at the target market of the product you selected for your marketing plan in order to understand the needs of your target customers. Complete the following steps: Create a questionnaire. This should be aimed at obtaining information on the demographics of the sample, tastes, preferences and consumption habits of the target market. Your questionnaire should have 20 questions. Submit the questionnaire to a sample of at least 10 individuals from...
create an implementation plan for Apple Inc. including milestones and deadlines, tasks and task ownership, and...
create an implementation plan for Apple Inc. including milestones and deadlines, tasks and task ownership, and resource allocation.
create an implementation plan for Apple Inc. including objectives, functional tactics, and actions items.
create an implementation plan for Apple Inc. including objectives, functional tactics, and actions items.
Create a risk management plan including contingency plans for the identified risks for Apple Inc.
Create a risk management plan including contingency plans for the identified risks for Apple Inc.
Create a level plan with a zero ending inventory for the forecast shown in the table....
Create a level plan with a zero ending inventory for the forecast shown in the table. There is no beginning inventory and regular production capacity is 300 units. Subcontracting is limited to 60 units per month and costs $10 per unit. There is a cost of $5 per month to hold a unit in inventory. What is the total plan cost (i.e. subcontracting + inventory)? Hint: In a level production plan, production is held constant in every time period. Use...
Company Selected : Apple Inc. Part 1: Create the data section of your strategic plan. Define...
Company Selected : Apple Inc. Part 1: Create the data section of your strategic plan. Define what your data looks like, describe your data warehouse. Explain the results from data mining tools (what BI would come out of the process). Part 2: Provide an example of data security – what security access would be needed for an accounting clerk compared to a senior manager? Include a title page and 3-5 references.
Company Selected : Apple Inc. Part 1: Create the data section of your strategic plan. Define...
Company Selected : Apple Inc. Part 1: Create the data section of your strategic plan. Define what your data looks like, describe your data warehouse. Explain the results from data mining tools (what BI would come out of the process). Part 2: Provide an example of data security – what security access would be needed for an accounting clerk compared to a senior manager? Include a title page and 3-5 references.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT