Response:
The Work In Progress (WIP) limit is set at 0.50 days.
Detailed explanation:
Calculating WIP limits:
first, it is essential to determine the efficiency of the process and procedure, which can be calculated as follows:
Value Added Time = 12 days (arrival time)
Non-Value-Added Time = 12 days (departure time)
Efficiency = Value Added / (Value Added + Non-Value Added)
= 12 / (12+12)
= 12 / 24
= 0.50 or 50%
the minimum required throughput time is 0.25 days to achieve the maximum profits
WIP limit = Throughput time / Efficiency
= 0.25 / 50%
= 0.50 days.
The WIP limit is 0.50 days.
Answer:
Step-by-step explanation:
The image provided presents the complete problem statement while the word document contains the solution.
Kayla's opportunity cost for attending the movie is $9.50
Tara's total expense for watching the movie amounts to $50.50
