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2003 Course Industrial Management & Process Economics

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Total No. of Questions : 12] [Total No. of Pages : 5 [3664] - 303 P 1320 B.E. (Polymer) INDUSTRIAL MANAGEMENT AND PROCESS ECONOMICS (IMPE) (2003 Course) (409370) Time : 3 Hours] [Max. Marks : 100 Instructions to the candidates: 1) In Sec.I attempt Q.1 or Q.2, Q.3 or Q.4, Q.5 or Q.6. In Sec.II attempt Q.7 or Q.8, Q.9 or Q.10, Q.11 or Q.12. 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 is the structure of manufacturing organization? Explain its need.[8] The following information is obtained from the accounts of Leela Private Limited company Rs. Direct material cost 10,000 Direct wages 6,000 Direct Expenses 200 Factory overheads 3,000 Administration overheads 1,000 Selling and distribution overheads 1,800 Sales 25,000 Prepare a statement of cost and profit under absorption method showing prime cost, works cost, cost of production, total cost and profits. [9] OR Q2) a) Explain i) Direct and Indirect cost. ii) Marginal costing. [9] P.T.O. b) For a product A, sales and profits are given for two different periods : Period Sales (Rs.) Profit (Rs.) Period I 2,00,000 20,000 Period II 3,00,000 40,000 Calculate contribution, variable cost and breakeven sales for each period. [8] Q3) a) What is discounted pay back period? Explain. [6] A project requires an outlay of Rs. 1,00,000 and earns the annual cash inflows of Rs. 35,000, Rs. 40,000, Rs. 30,000 and Rs. 50,000. Calculate discounted pay back assuming the discounting rate of 15%. Explain the difference between equity shares and preference shares. [6] What are the limitations of Capital Budgeting? [5] b) c) OR Q4) a) b) c) Q5) a) b) c) What are the factors taken into consideration for computing cash-outflow and cash-inflow? [6] Original cost of a machine is Rs. 80,000 and its book value is Rs. 50,000. Assuming the normal tax rate to be 50% and capital gain tax to be 40%, find the net cash-inflow if the machine can be sold for Rs. 90,000. [6] [5] Explain the term working capital. Describe the aims of budgeting. [6] What are main causes for depreciation? Explain. [6] Calculate the amount of depreciation for the following data using straight [4] line method. Cost of Asset : Rs. 5,00,000. Estimated Scrap value : Rs. 25,000. Estimated life : 15 years. OR Q6) a) b) c) Explain the written down value method for depreciation. [5] What are the merits of budgetory control? [6] The following data has been obtained for a machine X : [5] Cost of machine - Rs. 1,10,000. Estimated scrap value - Rs. 10,000. Estimated number of units to be produced during the life of the machine - 50,000 Calculate the depreciation amount using production unit method, if in a particular year 7,000 units are produced. [3664] - 303 -2- SECTION - II Q7) a) b) Solve the following LP problem by using Simplex technique [9] Maximize Z = 3x1 + 2x2 + 5x3, Subject to the constraints x1 + 2x2 + x3 430 3x1 + 2x3 460 x1 + 4x2 420 x1, x2, x3 0 A car hire company has one car at each of five depots a, b, c, d and e. A customer requires a car in each town, namely A, B, C, D and E. Distance (in kms) between depots (origins) and towns (destinations) are given in the following matrix. [8] a b c d e A 160 130 175 190 200 B 135 120 130 160 175 C 140 110 155 170 185 D 50 50 80 80 110 E 55 35 70 80 105 How should cars be assigned to customers so as to minimize the distance travelled? OR Q8) a) b) Solve the following transportation problem : Destination A B C D I 21 16 25 13 Source II 17 18 14 23 III 32 27 18 41 Requirement 6 10 12 15 [9] 11 13 19 43 Availability Following table shows the machine time (in hours) for 5 jobs to be processed on two different machines [8] Job :1 2 3 4 5 Machine A : 3 7 4 5 7 Machine B : 6 2 7 3 4 Passing is not allowed. Find the optimal sequence in which jobs should be processed. [3664] - 303 -3- b) The following pay-off table is given [9] Acts Event E1 E2 E3 E4 A1 40 200 -200 100 A2 200 0 200 0 A3 0 100 0 150 A4 -50 400 100 0 Suppose that the probability of the events of this table are P(E1) = 0.20, P(E2) = 0.15, P(E3) = 0.40, P(E4) = 0.25, Calculate the expected pay-off and the expected loss of each action. Find the saddle point (or points) and hence solve the following game B I II III IV V I9 3 1 8 0 A II 6 5 4 6 7 III 2 4 4 3 8 IV 5 6 2 2 1 [8] [ Q9) a) [ OR Q10)a) b) A project has the following time schedule [9] Activity Time in months Activity Time in months (1 - 2) 2 (4 - 6) 3 (1 - 3) 2 (5 - 8) 1 (1 - 4) 1 (6 - 9) 5 (2 - 5) 4 (7 - 8) 4 (3 - 6) 8 (8 - 9) 3 (3 - 7) 5 construct PERT network and compute i) Total float for each activity. ii) Critical path and its duration. A glass factory specializing in crystal is developing a substantial backlog and the firm s management is considering three courses of action : (s1) arrange for subcontracting (s2) begin overtime (s3) construct new facilities. The correct choice depends largely upon future demand which may be low, medium or high. By consensus, management ranks the respective probabilities as 0.10, 0.50 and 0.40. A cost analysis reveals the effect upon the profits that is shown in the table below. [3664] - 303 -4- Profit (Rs. 000) if demand is Courses of action s1 s2 s3 (subcontracting) (over time) (construct new facilities) low (p = 0.10) 10 -20 -150 medium (p=0.50) 50 60 20 high (p = 0.40) 50 100 200 Show this decision situation in the form of a decision tree and indicate the most preferred decision and corresponding expected value. [8] Q11)a) b) The demand of an item is uniform at a rate of 25 units per month. The fixed cost is Rs. 15, each time a production run is made. The production cost is Re. 1 per item, and the inventory carrying cost is Re. 0.30 per item per month. If the shortage cost is Rs. 1.50 per item per month, determine how often to make a production run and of what size it should be? [8] The annual demand for a product is 64,000 units (or 1280 units per week). The buying cost per order is Rs. 10 and the estimated cost of carrying one unit in stock for a year is 20%. The normal price of the product is Rs. 10 per unit. However, the supplier offers a quantity discount of 2% on an order of atleast 1000 units at a time and discount of 5% if the order is for atleast 5,000 units. Estimate the most economic purchase quantity per order. [8] OR Q12)a) b) Find the optimum order quantity for a product for which the price breaks are as follows : [9] Quantity Unit cost (Rs.) 0 q1 < 3000 10.00 9.25 3000 q2 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. Explain in details Always Better Control (ABC) Analysis. [7] [3664] - 303 -5-

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