Explain and describe what a limiting factor is

Explain and describe what a limiting factor is Limiting factor is any factor that restricts a company or an organisations activities. In simple words, a limiting factor is the factor which is limited or not freely available to the company. Limiting factors in an organisation can be labour time, raw material, machine hours or space. For example, when sales demand excess the productivity capacity, the company do not have enough resources to produce the product, the scarce resource will be the factor that restricts the companys activities. The production constraints can be removing and additional resources can be acquired when the scarce resources are existed. Hence, the scarce resources should be identified to make sure the company has enough resources to produce their products as many as their wish. By using limiting factor, we can maximize the profit when obtained the greatest possible contribution to profit each time. Example1: A B C Contribution per unit of output RM 24 RM 20 RM 12 Machine hours required per unit of output 6 hours 2 hours 1 hours Estimated sales demand 3,000 units 3,000 units 3,000 units Required machine hours 18,000 hours 6,000 hours 3,000 hours The machine hour is limited to 18,000 hours for the period because of the breakdown of one machine. Consider Example 1. From the example 1, we know that the company required total 27,000 machine hours to produce the total sales demand of the product A, B and C that they estimated. However, the company only has 18,000 machine hours for the period because of the breakdown of one machine. In this situation, companys activities are limited in the available of machine hours. When we looking at the available information, we will think that the company should produce the product A first since the contribution per profit for product A is the highest but this assumption can be wrong. This is because produce a product A required 6 machine hours, whereas product B required 2 machine hours and product C required 1 machine hours only. The company can concentrates on producing 3,000 units of product B and C respectively and still have machine hours left to produce product A. In other words, if the company only concentrates on produce the product A, there will no machine hours left to the company to produce B and C. In order to maximize the companys profit, we should use limiting factor to calculate the greatest possible contribution per profit for each product and rank profitability of the product to obtain the optimum production plan. (b) Explain the techniques that have been developed to assist in business decision- making when single or multiple limiting factors are encountered (16 marks) Single limiting factor- Limiting factor analysis When single limiting factor are encountered, we have to use limiting factor analysis to help companies to identify the scarce resources and maximize profit by using the best combination of available resource. In limiting factor analysis, we should identify the bottleneck resources first. Secondly, we should calculate the contribution per unit for each product. Next, we should calculate the contribution per unit of the bottleneck resource for each product. After we get the contribution per unit of bottleneck resource, we can rank the products of the contribution per unit of bottleneck resource. Finally, we can allocate the resources from the highest contribution per profit to the lowest contribution per profit by the ranking. By doing so, we can obtained the greatest possible profit when resources are limited by single limiting factor. Example 2: X Y Machine hours per units 3 hours 4 hours Sales demand 2,000 units 3000 units RM RM Selling price 32 50 Less : Direct Material 10 20 Direct Labour 5 8 Variable Overhead 5 8 20 36 Contribution 12 14 The supply of materials for the period is unlimited, but the machine hours are limited to 15,000 hours. In order to maximize the profit, we should using limiting factor analysis to solve the problem when there is only one limiting factor. Step 1: Identify the bottleneck resource. At sales demand level: Sales demand Machine hours per unit Total machine hours X 2,000 units 3 hours 6,000 hours Y 3,000 units 4 hours 12,000 hours 18,000 hours Thus, machine hours are the limiting factor. Step 2: Calculate the contribution per unit for each product. The contribution has been given at the above. X Y Contribution per unit RM 12 RM 14 Step 3: Calculate the contribution per unit of the bottleneck resource for each product. To calculate the contribution per unit of the bottleneck resource for each product, the formulae is: Contribution per units of the machine hours = Contribution Machine hours Product X = RM 12 3 hours = RM 4.00 Product Y = RM 14 4 hours = RM 3.50 Step 4: Rank the products from the highest contribution per machine hour to lowest contribution per machine hour. Production should be concentrated on product X first, up to maximum sales available, then product Y. Step 5: Finally, allocate the available resources using that ranking that we decided at step 4 and calculate the maximum contribution. Production plan Units produced Machine hours per unit Total machine hours Balance of machine hours 15,000 hours Product X 2,000 units 3 hours 6,000 hours 9,000 hours Product Y 2,250 units 4 hours 9,000 hours So, the maximum contribution is as follow: RM Product X ( 2,000 units x RM 12) 24,000 Product Y (2,250 units x RM 14) 31,500 55,500 Multiple limiting factors- Linear programming We can use limiting factor analysis when there is one limiting factor. However, when there is more than one of scare resources which restricts organisations activities, we can use linear programming to solve the problem. Firstly, we must defined the variances when we using linear programming. After this, we can define and formulate the objective. Thirdly, we can formulate the constraints to formulating the problem. Next, we must draw a graph to identify the feasible region and we can get the optimum production plan from the graph. Finally, we can solve the problem and get the maximum contribution by doing so. Example 3: A B Contribution per unit RM 20 RM 10 Machine hours per unit 6 hours 3 hours Kilos per unit 4 kilos 8 kilos Maximum available : Machine hours = 18,000 hours Kilos = 24,000 kilos What should be the production plan? To answer the example 3, we should use linear programming to get the optimum production plan because there is two or more of scarce resources. Step 1: Define the variances Let x = the number of units of the product A. y = the number of units of the product B. Step 2: Define and formulate the objective function. The objective is to maximize the contribution C, given by: Maximum contribution = 20 x + 10 y Step 3: formulate the constraints. The limitations here are machine hours and kilos. For the machine hours, product A required 6 hours and product B required 3 hours machine hours. So, total machine hours required = 6 x + 3 y For the kilos, product A required 4 kilos and product B required 8 kilos. So, total kilos required = 4 x + 8 y Constraints Utilised Available Machine hours 6 x + 3 y Ë‚ 18,000 Kilos 4 x + 8 y Ë‚ 24,000 Step 4: Draw a graph and identify a feasible region. For the equation 6 x + 3 y = 18,000 machine hours When x = 0, y = 18,000/ 3 = 6,000 When y = 0, x = 18,000/ 6 = 3,000 Draw a straight line between the point (0, 6000) and (3000, 0) on the graph to represent the line for machine hours constraint. For the equation 4 x + 8 y = 24,000 kilos When x = 0, y = 24,000/ 8 = 3,000 When y = 0, x = 24,000/ 4 = 6,000 Draw a straight line between the point (0, 3000) and (6000, 0) on the graph to represent the line for kilos constraint. The constraints can be show as below: The original constraints were Step 5: Determine the optimal solution Calculate the contribution earned at each point P, Q and R Point P = RM 20 (0) + RM 10 (3,000) = RM 30,000 Point Q = RM 20 (2,000) + RM10 (2,000) = RM 60,000 Point R = RM 20 (1,500) + RM10 (0) = RM 30,000 Point Q gives the maximum contribution. Step 6: Answer the question The optimal point is at x = 2,000 and y = 2,000. This gives a maximum contribution of C = (20 x 2,000) + (10 x 2,000) = RM60, 000 (c) Explain the management idea known as throughput accounting. State and justify your opinion on whether or not throughput accounting and limiting factors are the same thing. (18 marks) To reduce companys cost and improves the profitability, every companys managers are using cost accounting to help them on decision-making. Theory of constraints (TOC) or Throughput accounting (TA) is another method for decision making others than Standard Based Costing, Activity Based Costing and Marginal Costing. TOC/TA is new management accounting approach based on factors identification when constraints are restricts companies to achieving their goals and hence reduces companys profits. Throughput accounting is used when there are only few constraints, normally just one. The constraint can be a resource, company policy or management mindset. According to Goldratts ideas, TOC is forecasting on a limit capacity at certain critical points in any production plan. TOC can maximise organisations profit by increases the speed of producing through an organisation to eliminating bottlenecks. Additionally, throughput accounting is not costing because it does not allocate all expenses (variable and fixed expenses, including overheads) to the products and services. Thus, throughput accounting helps managers to get better management decision in order to improve organisations profits by three measurements. They are: Throughput (T) is the rate that company produces goal units. When the goal units are money, throughput is net sales (S) less total variable costs (TVC), usually is cost of raw materials ( T = S TVC ). However, T exists when there is only one product or service sold. Besides, finished goods of inventory in a warehouse are not count because it has not yet sold. Operating expenses (OE) is all others expenses except the total variables cost that used to calculate the throughput. Basically, OE is total cost to operating the production system. Fixed or partially fixed costs no difference in throughput accounting. On the contrary, there only have either total variable cost or operating expenses in throughput accounting. Examples for OE include maintenance, utilities, rental, etc. Investment (I) is total amount of money that invest in a new system to enhance its ability to improve the capacity, for examples machinery, inventory, building, and other assets and liabilities. Therefore, throughput accounting use difference formulas to make difference types of accounting decisions by combined the throughput, total variable costs and operating expenses: Net profit  (NP) = Throughput Operating Expense = T-OE Return on investment  (ROI) = Net profit / Investment = NP/I Productivity  (P) = Throughput / Operating expense = T/OE Investment turns  (IT) = Throughput / Investment = T/I We can use the above formulas when making a decision that related to changes in revenue, expenses or investments to get the right decision, which must generate a positive answer from one out of three questions below: Does it increase throughput? Does it reduce operating expense? Does it improve the return on investment? Finally, there are five steps in the TOC to help managers maximize the throughput which causes them to achieve organisations goals. The five steps are as follows: Identify the system constraints. There is an internal constraint? For example, in production, engineering or planning. There is an external constraint? For example, in the market. The constraints a resource or a policy? Decide how to maximise the output from the constraint. Prepare all other activities subject to this decision. While Non-constraints need to be subject to constraints. Consider the appropriate level of resources once the resource constraint has been identified. Therefore, the capacity constraints can be improved. Enhance the systems constraints. Once the constraint has been corrected, return to Step 1 to determine the next most serious constraints and duplication. In my opinion, throughput accounting and limiting factor is not the same thing but there are similarities and differences in between throughput accounting and limiting factor. For example, throughput accounting and limiting factor are using to assist companies to identify bottleneck resources instead to maximize companies profits. However, throughput accounting is used when there are very few constraints; often just one but limiting factor is used when there are one or more than one constraints. Besides, limiting factor is focus on working to obtain greatest contributions while throughput accounting is focus on the premise that the limited capacity in some critical point of any production plan. In addition, limiting factor maximise the organisations profit by using the best combination of available resources but throughput accounting is maximise the profit by increase the producing speed through organisation to eliminate bottlenecks. Throughput accounting calculates the products throughput as the selling price minus all variable costs. Variable costs or in another words cost of materials in throughout accounting included direct material costs only, labour and overhead costs are fixed and categories to total factory costs. In contrast, limiting factor calculated by sales price minus variable costs to get the contribution but variable costs in limiting factor are including the labour and overhead costs, this is difference from throughput accounting.

Oiqwjxwoleijc

Literary Analysis In The Bean Trees by Barbara Kingfisher there are many different relationships between characters. Some are more important to the story, like the relationship that Taylor and Turtle share. Other characters that develop relationships are Taylor and Lou Ann, and Taylor and her mother, Alice. All of these relationships are also very symbiotic because the people rely on each other, without each other they would have much different lives. The author shows how Taylor grows through her relationships and the dependence they have on one another.Another important relationship that we see in The Bean Trees is the relationship between Taylor and her mother, Alice. Alice Is a single mother who raises Taylor on her own until Taylor Is old enough to move out of town. I believe that her mother serves as a role model for all of the other future women throughout the book. She raised Taylor as a confident young woman who would not be held back. Tailor's father, Foster, left her and h er mother before she was born, but Alice still has a very positive outlook on life.She tells her daughter that â€Å"trading Foster for you was the best deal this side of the Jackson Purchase† (6). She shows Taylor that she does not need her father, Foster, to love life because she has her. Love and support is found in this relationship especially from Alice to Taylor. Taylor says, â€Å"There were two things about Mama. One is she always expected the best out of me. And the other is that no matter what I did, whatever I came home with, she acted like it was the moon I had just hung up in the sky and plugged in all the stars† (13).Alice really motivated Taylor as her mother to go far In life and would praise her to let her know she is doing well. Since they had this strong mother and daughter relationship, Taylor has the courage o leave Pitman to escape motherhood and become the best person she could be, for her mother and herself. Taylor Greer, the main character, lef t her home in Kentucky to avoid becoming pregnant and being a young mother like every other girl. This seems ironic because as soon as she leaves, she is given a baby from an Indian lady.She names the baby girl Turtle. Besides the relationship that Taylor had with her mother, she never had anyone depend on her. The relationship between Taylor and Turtle is the first example of dependence in the story. I believe that Turtle was given to Taylor to present the importance in relationships because the baby is fully depending on Taylor to take care of her. Also, I think there was a reason that she names the baby Turtle. Taylor says you're like a mud turtle. If a mud turtle bites you, it won't let go till it thunders† (22).This quote Is showing that Turtle does not let go of Taylor easily and this also shows that the relationship between them Is growing stronger. Turtle trusts her and Is starting to look at her Like a mother figure. When Taylor got to a motel with the baby she wrote to her mother, â€Å"l found my rights, Mama. They're coming with he may not be able to be the best provider. She sees Turtle as a â€Å"right† or something that she now has ownership of. When Taylor moves to Tucson she meets and moves in with Lou Ann, a single mother, who now Taylor depends on.They end up helping each other along with life and act like one family with their children. In the beginning, Taylor acted as if she did not want them to act like family, â€Å"Lou Ann, I moved in here because I knew we'd get along. It's nice of you to make dinner for us all, and to take care of Turtle sometimes, and I know you mean well it's not like we're a family, for Chrism's sake. You've got your own life to live, and Vive got mine. You don't have to do all of this stuff for me† (85).This shows that Taylor might feel uneasy to depend on somebody else at the time, even though she knew she needed help. When she starts to realize this, she thinks, â€Å"We had worked things out: I cooked on weekends, and also on any week night that Lou Ann had kept Turtle she would do the vacuuming† (107). Taylor says move got your own life to live and Vive got mine† meaning they are not going to get involved with each other's lives. In the second quote, it shows that they are beginning o work together on living and would make each other dinner or help clean.Lou Ann would also have Turtle for the night while Taylor rested. As much as she did not want to admit it, Tailor's relationship grew with Lou Ann and she became much more dependent on her. The relationships in the book between Taylor and Turtle, Lou Ann and Taylor, and Taylor and her mother are all significant to show that dependence is a major theme in The Bean Trees. Barbara Kingfisher uses relationships to show dependence in order to say to the world that you cannot get through life without guidance or having someone's shoulder to lean on.

The Advantages of College Admission Essay

The Advantages of College Admission Essay The Bad Side of College Admission Essay Thus picking a superior convincing essay issue becomes extremely important whether you decide to create an opinion. After the procedure for drafting, you'll have written the essay. Think, evaluate and take note of the significant points you want to incorporate in your essay. The ideal way of authoring your essay is going to be on a computer. The essay is your very first impression, and you would like to produce a fantastic first impression. Secondly, you're likely to do fine since you understand how to compose an effective essay. As a result, should you need an essay on the rush yet you wish to keep top quality, our essay writing service is going to do that for you. Admission essays are likewise a way to reveal the reader that you are able to organize your thoughts to write clearly and effectively. Most Noticeable College Admission Essay Among the significant part seeking admissions is to compose a college admission essay. In all types of college admission essay, it is essential that you present topics in such a means to impress the admission officers. Take note of these instructions to force you to get ready for your college admission essay! For that, you may use totally free college admission essays to locate similar cases such as yours to have a clearer idea on the best way to explain yourself. Your credential is accompanied by means of a lifetime of experiences which ought to be highlighted in the essay. Admissions officers ought to make sure applicants are really serious in pursuing post-graduate course and aren't merely out to dabble and leave after a number of semesters. You may be eligible for a superb college, but you need to have good GPA and admission test scores. Also, excellent leaders have a tendency to acquire decent publicity, which likewise reflects well on the alma mater. The language ought to be easy and flawless. The procedure for writing a college essay isn't as difficult as deciding what things to write about. Additionally, there are sample college application essays that can enable you to do that. What You Need to Do About College Admission Essay Starting in the Next 15 Minutes Though your odds of getting in are lower in contrast to A-list students, the door isn't completely shut. If you think that you are able to write an essay that will enhance your odds of being accepted, by all means, go ahead. When your kid is selecting a college and career path, you want to remind them that the major point of visiting college is to open doors. For this reason, you would like to write as brilliantly as you are able to in order to fetch decent score that could be critical for your academic standing. College level writing can differ from other writing you've done previously. Writing good papers is something which can come with experience and you wish to make certain you're learning something new about writing all the time which may cause you to be a better writer in the approach. Together with the UK Essay Help undergraduates find it impossible to be worried about the time but delight in a complete life. The folks reading your essay do not have the time to search through your essay searching for your point. The Chronicles of College Admission Essay Your approach of writing is something that may demonstrate the admission committee that you stand from the crowd. Creating a distinctive voice'' is among the most challenging facets of writing for anyone, even experienced writers. You simply want the ideal things to say in your private statement. Apparently, a fraud essays help service doesn't want you to have a chance to reach them after being robbed. Often, applicants even receive a couple of topics to select from. There are some who hire the expert services of a professional proofreading and editing company available online. What to Expect From College Admission Essay? Take care when picking out the topic because Success of the admission essay for college dependent on the topic which you have selected. To begin with, the essay is just 1 portion of the decision process for college admission. Second an ideal essay is one which convinces the college authorities, in which you'll be able to portray your potential and personality. There are a number of essay writing services that think they're the very best, and thus don't be cheated and check the real list of the very best. There's no broker necessary for purchasing the PA 529 plan. Guidelines and questions supplied by the college you're applying should also be followed while preparing them. Both the plans provide an automated investment program. There's an automated investment plan provided with the PA 529 plan, and there's no restriction regarding how many times you contribute to the automated investment program.

Evidence Based Medicine, Literature Review - 1433 Words

Joy Ogunmuyiwa Evidence Based Medicine, Literature Review Course Director: Heather McEwen, M.L.I.S., M.S. October 25, 2015 Introduction For many patients, language and culture set the background and context for the procurement and application of their health literacy skills. Health literacy is defined as the degree to which an individual is able to access, understand, and communicate information in order to promote and maintain their health [1]. However, a third of U.S. adults—77 million people—would have difficulty with common health tasks, such as following directions on a prescription drug label or adhering to a childhood immunization schedule with a standardized chart [2]. Limited health literacy has frequently been found as a strong risk factor for inadequate health knowledge, reduced self-care ability, increased morbidity, and mortality [3]. People with low health literacy tend to experience higher rates of chronic illness and are less likely to use preventive health services when compared to people with high health literacy [3]. Research that focuses on health literacy, especially of minority populations, is important because groups such as immigrants, refugees, and non-native speakers of English are more likely to experience limited health literacy [3]. The impact of limited health literacy disproportionately affects lower socioeconomic and minority groups. Limited English proficiency contributes to a greater health-related risk and lower health literacy amongShow MoreRelatedCritical Review On Improving The Quality Of Prescribing1497 Words   |  6 Pages Critical Literature Review: Approaches to improving the quality of prescribing in nursing homes Abstract The aging of the population has evoked a new care focus. The proportion of the world’s population aged 60 years and over is predicted to reach one in five by 2050. [-1] Consequently prescribing for older people will escalate accordingly. Prescribing for older people is challenging due to complex medicine regimens and comorbidities. Evidence suggests that suboptimal prescribing still exists. UnnecessaryRead MoreA Literature Review : The Walden University Library Essay1070 Words   |  5 PagesA literature review is an interpretation of arrays of circulating articles written by the scholar-authors’ of researchers related to several topics. A literature search for evidence-based research can be overpowering. The Walden University library illuminates on the superlative quality of evidence-based research and which databases to utilize with research searches. Filtered resources are the superlative quality of studies related to evidence-based practice and encompasses systemic reviews, criticallyRead MoreCompression Garments1511 Words   |  7 PagesBerry et. al. (1987) to determine the effects of CG on blood lactate levels in the body. CG worn during maximal exercise resulted in lower blood lactate concentrations and was attributed by increased blood circulation in the body [4, 6]. Studies in literature found that CG increases resistance against muscle fatigue post exercise [4, 8], enhance the ability to thermoregulate [9] and aid in muscle recovery [7]. On the contrary, there are studies that report otherwise. Maton et. al. (2006) cited a studyRead MoreAdvanced Care Planning And Advance Directive Completion1252 Words   |  6 PagesTemplate Initial Steps for an Evidence-Based Project Project Title: Advanced Care Planning and Advance Directive Completion in the Primary Care Setting Student Name: Christina M. Young 1. Introduction: (25 to 50 words) Advanced care planning is critical element in the therapeutic alliance between healthcare team and patient in providing adequate patient-centered care, with the patient a more willing collaborator. This process provides patient, family, and caregiver with realistic expectationsRead MoreTherapeutic Touch Is A Form Of Complementary And Alternative Medicine1700 Words   |  7 PagesNursing â€Æ' Abstract Therapeutic Touch is a form of complementary and alternative medicine utilized among the Pediatric population to provide holistic healthcare. Developed in the 1970’s by Dora Kunz a psychic healer and Dr. Dolores Krieger, PhD, RN (Natural Medicine, 2015) therapeutic touch is generally not well accepted in Western medical practices due to lack of research and supporting effectiveness in evidence. Understanding what TT is and how to utilize it in practice is important in deliveringRead MoreInformation Based Medicine ( Ebm )1382 Words   |  6 Pagespotentially health-threatening. So, Evidence based medicine(EBM) is not the only but the best approach to health interventions as it emphasizes the use of evidence from well designed and conducted research in healthcare decision-making. EBM is regarded as the gold standard of clinical practice. The term evidence-based medicine, as it is currently used, has two main tributaries. Chronologically, the first is the insistence on explicit evaluation of evidence of effectiveness when issuing clinicalRead MoreWhat Constitutes Evidence For Physicians?1630 Words   |  7 Pagesconstitutes evidence for nurses? What constitutes evidence for patients? What constitutes evidence for physicians? How are they the same or different? T he movement toward evidenced based healthcare has necessitated change in practice approaches and a broader understanding of what constitutes evidence for physicians, nurses, allied health professionals and consumers. There is a significant amount of literature published regarding this practice change in all clinical areas. Not all literature is supportiveRead MoreEffectiveness Of Aromatherapy Within Palliative Care Patients1124 Words   |  5 PagesChapter 1.0: INTRODUCTION This dissertation will explore the effectiveness of aromatherapy within palliative care patients. It will then undertake a critical literature review and it will then identify aspects of practice which require improvement and develop a service improvement plan relating to one of these issues. Palliative care is a holistic approach to support a patients symptoms who have an advanced progressive condition. Healthcare professional’s objectives are for the patient and familiesRead MoreIs Cranberry Juice Effective for Preventing and Treating Urinary Track Infection?1610 Words   |  7 Pagesutilising evidence-based practice (EBP) to determine the effectiveness of the therapeutic intervention and provide accurate information to the patient. Furthermore, when delivering the information to the patient, culturally appropriate care must be considered, to ensure clear and coherent communication to the patient. EBP provides health professionals a method to use critically appraised and scientifically proven evidence for delivering healthcare. EBP equips nurses to make clinical decisions based uponRead MoreThe Anti Hypertensive Properties Of Doxazosin996 Words   |  4 PagesJ.L., 1987) Evidence for use in Hypertension As mentioned above, taking an anti-hypertensive drug once daily has better patient compliance than those that are administered multiple times throughout the day. This can be seen in a literature review which looked at different evidence-based interventions to increase the compliance with antihypertensive and lipid-lowering medications (Petrilla A. A., et al, 2005). As it is a literature review, it can be more biased than a cochrane review or a meta-analysis