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Industrial Engineering and Production Management

Industrial Engineering and Production Management
For a small scale industry, the fixed cost per month is Rs. 5000. The variable cost per product is Rs. 20 and sales price is Rs. 30 per piece. The break even production per month will be

1000
500
460
300

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Industrial Engineering and Production Management
In break even analysis, total cost consists of

Variable cost + sales revenue
Fixed cost + variable cost
Fixed cost + variable cost + profit

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Industrial Engineering and Production Management
Halsey plan of wage incentive

Is based upon efficiency of worker
Is applied to all level of workers
Does not guarantee minimum wage
Is not applied to all level of workers

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Industrial Engineering and Production Management
If ‘F’ is the fixed cost, ‘V’ is the variable cost per unit (or total variable costs) and ‘P’ is the selling price of each unit (or total sales value), then break-even point is equal to

(F × V)/P
F/[1 - (V/P)]
F/[1 + (V/P)]
(F × P)/V

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Industrial Engineering and Production Management
PERT analysis is based upon

Optimistic time
Most likely time
All of these
Pessimistic time

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Industrial Engineering and Production Management
Monte Carlo solutions in queuing theory are extremely useful in queuing problems

That can't be analysed mathematically
To verify mathematical results
Involving multistage queuing
All of the these

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