L. Houts Plastics is a large manufacturer of injection-molded plastics in North Carolina. An investigation of the company's manufacturing facility in Charlotte yields the information presented in the table below. How would the plant classify these items according to an ABC classification system? (Round dollar volume to the nearest whole number and percentage of dollar volume to two decimal places.) L. Houts Plastics Charlotte Inventory Levels Item Code Avg. Inventory (units) Value ($/unit) Dollar Volume % of Dollar Volume 1289 380 3.50 insert answer insert answer 2347 300 4.00 1,200 37.83 2349 120 2.50 300 9.46 2363 75 1.30 insert answer insert answer 2394 60 1.75 105 3.31 2395 25 2.00 insert answer insert answer 6782 20 1.15 23 0.73 7844 12 2.05 25 0.78 8210 5 2.00 insert answer insert answer 8310 7 2.00 14 0.44 9111 6 3.00 18 0.57 3,172 For the following three questions, consider only items 1289, 2349, and 8210 from the above table for relative classification (these are some of the items for which you computed the metrics). 1. Based on the percentages of dollar volume, item number 1289 should be classified as A B or C 2. Item numbe 2349 should be classified as A B or C 3. Item number 8210 should be classified as A B or C
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
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L. Houts Plastics Charlotte Inventory Levels
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Item Code
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Avg. Inventory (units)
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Value
($/unit)
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Dollar
Volume
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% of Dollar Volume
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1289
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380
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3.50
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insert answer |
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insert answer |
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2347
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300
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4.00
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1,200
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37.83
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2349
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120
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2.50
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300
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9.46
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2363
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75
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1.30
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insert answer |
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insert answer |
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2394
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60
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1.75
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105
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3.31
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2395
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25
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2.00
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insert answer
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insert answer
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6782
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20
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1.15
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23
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0.73
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7844
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12
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2.05
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25
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0.78
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8210
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5
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2.00
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insert answer |
insert answer
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8310
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7
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2.00
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14
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0.44
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9111
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6
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3.00
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18
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0.57
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3,172
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