2022 Exam

Question 1

How do you calculate the net profit margin?

Answer 1

net profit / sales

Question 2

How do you calculate the net profit?

Answer 2

gross margin (sales-cogs) - total expenses

Question 3

How do you calculate the asset turnover?

Answer 3

sales / total assets

Question 4

How do you calculate the return on assets (ROA)

Answer 4

net profit margin x asset turnover

Question 5

1 –> 2 –> 3 –> 4
250 450 125 190

What is the maximum capacity of the overall process?

Answer 5

125

Question 6

How do you calculate the takt time?

Answer 6

total production time / number of items to produce

Question 7

At the start of the shift, the four employees together fold the pizza boxes to have them ready for service. The team expects to sell over 900 pizzas today and they have 2 hours to prepare the boxes. What is the takt time for folding one box in seconds?

Answer 7

Answer: 32 (seconds)

2(hrs)* 60(min)* 60(sec) * 4(empl) (total production time)/900 (boxes) = 32 seconds

Question 8

How do you calculate the theoretical number of workstations?

Answer 8

sum of all task times / takt time

!!! minute <-> seconds recalculation

Question 9

How do you calculate the idle time?

Answer 9

calculate the difference between the takt time and the task time of the workstation

Question 10

How do you calculate the efficiency of the balanced line?

Answer 10

(Sum of task times / takt time) * number of workstations * 100%

Question 11

On average, one guest becomes seriously sick every 7 minutes, but with a standard deviation of 3 minutes. The average time to clean up the vomit is 2 minutes, but with a standard deviation of 5 minutes. Utilization is 50% because the theme park tries to have someone ready at the ride to clean things up. What is the expected average wait time for cleaning up in minutes? Provide your answer with two decimal places(X.xx minutes).

Answer 11

Answer: 6.43 minutes

(((3/7) to power 2+ (5/2) to power 2) / 2)) * (0.50/(1-0.50)) * 2 = 6.4336 minutes-> 6.43

Question 12

The CaveRide can hold 60 people on each time it runs and a ride starts every 3 minutes. On an average day, the demand is 10,000 rides. How many hours should MAGICAVE be open minimally on a given day to allow all those people to take a ride?

Answer 12

Answer: 8.33 hours
F = I / TH
I = 10,000 rides
TH = 60* (60/3) = 1200
F = 10,000 / 1200 = 8.33 hours

Question 13

How do you calculate the overall flow rate based on the effective capacity for a process?

Answer 13

planned utilization x overall design capacity

–> take lowest result

Question 14

MAGICAVE works with a number of tour operators who bring guests (typically groups) to the theme park. They have established a 10-minute drop-off window by which buses should arrive in the parking lot. What is the maximum allowable standard deviation of arrival times required in order to achieve a Six Sigma level of quality?

Answer 14

6 standard deviations have to fit on either side of the mean arrival time, hence, 12 standard deviations have to fit within the time window. As a result, the standard deviation cannot be larger than 1/12th of the time window. 10/12 = 0.833

Question 15

Like any good theme park, MAGICAVE sells animal balloons. The demand for animal balloons is estimated at 325 per day. Inventory carrying cost percentage is just 5% and each unit costs €1.25. Ordering costs are €5 delivery fees. The theme park is open 200 days a year. What is the economic order quantity of this product?

Answer 15

Note D = 325 * 200 open days = 65000

EOQ = SQRT((2DCo)/(CiU)) = SQRT((2650005)/(0.051.25)) = 3224.90 -> 3225 Normal rounding applies.