Jetson Co produces three products:
Labour is restricted to 120,000 hours. In order to meet demand, Jetson is considering using a subcontractor to produce the products that cannot be produced in-house due to the restriction on labour hours. The subcontractor has prepared the following quote:
George = $55
Elroy = $66
Jane = $82
Calculate the number of units of George that will be manufactured in-house.
The correct answer is: 2,181 units.
Labour is a limiting factor. Therefore, to determine the order of production the saving per limiting factor of manufacturing in-house for each product must be calculated:
Elroy has the greatest saving of manufacturing in-house per labour hour so should be prioritised to be manufactured in-house, followed by Jane, then George.
8,000 units of Elroy = 36,000 hrs (84,000 hours remaining)
9,000 units of Jane = 72,000 hrs (12,000 hours remaining)
12,000 hrs / 5.5 hrs per George = 2,181 units of George can be produced in-house.
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A government is trying to assess schools by using a range of financial and non-financial factors. One of the chosen methods is the percentage of students passing five exams or more.
Which of the three Es in the value for money framework is being measured here?
The following statements have been made about measuring performance in not-for-profit organisations:
(1) Output does not usually have a market value, and it is therefore more difficult to measure effectiveness.
(2) Control over the performance can only be satisfactorily achieved by assessments of ‘value for money’.
Which of the above statements is/are true?
The senior manager is suspicious of a local manager’s accounts and thinks that the profit performance may have been overstated.
Which of the following would be a plausible explanation of an overstatement of profit?
Which of the following statements regarding standard setting is correct?
When setting performance measurement targets it should be considered that there is the possibility that managers will take a short term view of the company and may even be tempted to manipulate results in order to achieve their targets.
Which of the following would assist in overcoming the problems of short-termism and manipulation of results?
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