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2003 Course Industrial Management & Process Economics

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Total No. of Questions : 12] [Total No. of Pages : 7 [3764]-361 P1493 B.E. (Polymer) INDUSTRIAL MANAGEMENT AND PROCESS ECONOMICS (2003 Course) Time : 3 Hours] [Max. Marks : 100 Instructions to candidates : 1) Attempt Q.1 or Q.2, Q.3 or Q.4, Q.5 or Q.6 from Section I. Attempt Q.7 or Q.8, Q.9 or Q.10, Q.11 or Q.12 Section II. 2) Answers to the two sections should be written in separate books. 3) Neat diagrams must be drawn wherever necessary. 4) Figures to the right indicate full marks. 5) Use of electronic pocket calculator is allowed. 6) Assume suitable data, if necessary. SECTION - I Q1) a) b) What are the elements of costing? Explain each of them. [8] Explain: [9] i) P/V Ratio. ii) Break even point. Following details are available for ABC Company Ltd. Actual Sales - Rs. 20,000. Break even sales - Rs. 10,000. Fixed cost - Rs. 5,000. Find P/V ratio and profit at actual sales. OR Q2) a) What are the factors which must be taken into account before selecting a plant location? List and discuss each of them. [9] b) Per unit cost structure of a single product manufacturing company is as below: [8] Selling Price - Rs. 100 Direct Material - Rs. 60 Direct labour - Rs. 10 Variable overheads - Rs. 10 P.T.O. Number of units sold in the year are 5035. If there is an increase of 10% in direct labour Find i) ii) Q3) a) How many more units to be sold next year to maintain the same profit. By what percentage the selling price has to be raised to maintain same P/V ratio. A machine costing Rs. 1,00,000 is to be purchased as below: Rs. 20,000 - Down payment out of own contribution. Rs. 80,000 - Borrowing by way of term loan. To be paid in four equal annual instalments alongwith the interest @ 15% p.a. (the interest being computed on opening outstanding balance). Calculate present value of the cash out flow. [5] b) What are the factors affecting fixed capital requirement? Explain. [6] c) What is accounting rate of return? A project involves the investment of Rs. 5,00,000 which yields profits after depreciation and tax as stated below: Years Profits 1 Rs. 25,000 2 Rs. 37,500 3 Rs. 62,500 4 Rs. 65,000 5 Rs. 40,000 At the end of five years, the machineries in the project can be sold for Rs. 40,000. Find the accounting rate of return. [6] OR Q4) a) [3764]-361 Calculate net present value of a project involving initial cash outflow of Rs. 1,00,000 and generating annual cash inflows of Rs. 35,000, Rs. 40,000, Rs. 30,000 and Rs. 50,000. Discounting rate is 15%. [5] 2 b) What is capital structure? Which factors affect the capital structure decisions? [6] c) Explain: [6] i) ii) Q5) a) b) Preference shares. Debentures. Explain the need for depreciation. [5] Calculate the amount of depreciation for the following data using straight line method. [5] Cost of asset Rs. 3,00,000. Estimated scrap value - Rs. Estimated life c) - - 10 years. 20,000. Describe the types of budgets. [6] OR Q6) a) Explain the production hour method for depreciation. [5] b) The cost of machine is Rs. 1,10,000 and its estimated scrap value is Rs. 10,000. The estimated number of units to be produced during the life of the asset is 50,000 units. If 7,000 units are produced in a particular year, find the depreciation value using production unit method. [5] c) What are the merits of budgetary control? [6] SECTION - II Q7) a) Solve the following LP problem using simplex method. Maximize Subject to Z = 4x1 + 3x2 + 6x3 2x1 + 3x2 + 2x3 440 4x1 + 3x3 470 2x1 + 5x2 430 x1, x2, x3 0 [3764]-361 3 [9] b) Find the sequence that minimizes the total elapsed time required to complete the following tasks: Tasks : A BC D E F GH I Time on machine I : 2 5 4 9 6 8 7 5 4 Time on machine II : 6 8 7 4 3 9 3 8 11 Calculate the minimum elapsed time corresponding to optimal sequencing. Calculate the total idle time for the machines in this period.[8] OR Q8) a) Solve the following transportation problem: [9] Destination A B C D I 21 16 25 13 11 II 17 18 14 23 13 III 32 27 18 41 19 Requirement 6 10 12 15 43 Source b) Solve the following assignment problem. [8] 1 2 3 4 A 10 12 19 11 B 5 10 7 8 C 12 14 13 11 D [3764]-361 8 15 11 9 4 Availability Q9) a) A project has the following time schedule: [9] Activity Time in weeks Activity Time in weeks (1-2) 4 (5-7) 8 (1-3) 1 (6-8) 1 (2-4) 1 (7-8) 2 (3-4) 1 (8-9) 1 (3-5) 6 (8-10) 8 (4-9) 5 (9-10) 7 (5-6) 4 Construct PERT network and compute. i) ii) b) Total float for each activity. Critical path and its duration. A company manufactures goods for a market in which the technology of the products is changing rapidly. The research and development department has produced a new product which appears to have potential for commercial exploitation. Further Rs. 60,000 is required for development testing. The company has 100 customers and each customer might purchase, at the most, one unit of the product. Market research suggests a selling price of Rs. 6,000 for each unit with total variable costs of manufacture and selling estimate are at Rs. 2,000 for each unit. As a result of previous experiment of this type of market, it has been possible to derive a probability distribution relating to the proportions of customers who will buy the product as follows: Proportion of customers : 0.04 0.08 0.12 0.16 0.20 Probability 0.10 0.10 0.20 0.40 0.20 : Determine the expected opportunity losses, given no other information than that stated above, and to state whether, or not, the company should develop the product. [8] [3764]-361 5 OR Q10)a) A small marketing project consists of the jobs in the table given below. With each job is listed its normal time and a minimum or crash time (in days). The cost in (Rs. per day) of crashing each job is also given: [10] Job (i j) Normal duration (in days) Minimum (crash) Cost of crashing duration (in days) (Rs. per day) (1-2) 9 6 20 (1-3) 8 5 25 (1-4) 15 10 30 (2-4) 5 3 10 (3-4) 10 6 15 (4-5) 2 1 40 i) ii) b) What is the normal project length and the minimum project length. Determine the minimum crashing costs of schedules ranging from normal length down to, and including, the minimum length schedule. For the following pay off matrix for firm A, determine the optimal strategies for both the firms and the value of the game? [7] Firm B Firm A Q11)a) 3 1 16 1 1 4 6 7 8 2 4 12 8 6 14 12 11 4 2 1 A XYZ company has to supply his customers 100 units of a certain product every monday. The company obtains the product from a local supplier at Rs. 60 per unit. The costs of ordering and transportation from the supplier are Rs. 150 per order. The cost of carrying inventory is estimated at 15% per year of the cost of the product carried. [7] i) ii) [3764]-361 Find the lot size which will minimize the cost of the system. Determine the optimal cost. 6 b) A company uses annually 50,000 units of an item, each costing Rs. 1.20. Each order costs Rs. 45 and inventory carrying costs 15% of the annual average inventory value. i) Find economic order quantity. ii) If the company operates 250 days a year, the procurement time is 10 days and safety stock is 500 units, find the reorder level, maximum, minimum and average inventory. [9] OR Q12)a) Find the optimal order quantity for a product for which the price breaks are as follows: Quantity Unit cost (Rs.) 0 q1 < 500 10.00 500 q2 9.25 The monthly demand for a product is 200 units, the cost of storage is 2% of unit cost and the cost of ordering is Rs. 100. [8] b) Perform ABC analysis on the following sample of items in an inventory: [8] Item name Annual consumption Price per unit (in Rs.) A 300 10 B 2800 15 C 30 10 D 1100 5 E 40 5 F 220 100 G 1500 5 H 800 5 I 600 15 J 80 10 Y [3764]-361 7

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