# Project #26420 - Finance

There are 6 questions, some with multiple parts.  Different marks are applied to each question, with a total of 100marks available for the whole test.

You may use paper, pen, calculator.  Please show your workings, as marks will be awarded for a correct method, even if the answer is incorrect.

 Q1.â€‹Phlexglobal charges \$1.50 per page processed.  There are five distinct steps involved in processing a page: Goods Receiving – takes an average of 2 seconds per page â€‹Prep – takes an average of 30 seconds per page â€‹Scan – takes an average of 10 seconds per page â€‹Quality checks – takes an average of 15 seconds per page â€‹Filing – takes an average of 9 seconds per page (a) The revenue per page (\$1.50) is allocated across these five steps based on time taken.  How much revenue per page is allocated to the scanning process?â€‹â€‹â€‹(3 marks) (b) How many pages per day does a team member have to prep in order to achieve a target daily rate of \$300 for that team member (ie: for that team member to earn revenue of \$300)?â€‹â€‹â€‹â€‹â€‹â€‹â€‹â€‹â€‹â€‹(3marks)

 (c) The preppers, the scanners and the Quality checkers are all working in the same team (the goods receiver and the filers are in different teams).  If the team consists of 11 people, how many of those people should be employed as scanners in order to achieve a smooth production process?â€‹â€‹â€‹â€‹â€‹â€‹â€‹â€‹(4 marks)

 Q2â€‹Project A involves performing a Quality Control check on 200 boxes of documents.  It is estimated that the project will take 20 employees 40 working days to complete.  However, when the project starts, there are only 16 employees available. (a) After 15 working days, how many of the boxes will have been completed, assuming that employees are working to the required level of productivity? â€‹â€‹â€‹(7marks) (b) In order for the project to be finished on time (ie: after 40 working days), how many employees need to be added to the 16 original employees, from the start of the 16thworking day?  â€‹â€‹â€‹â€‹â€‹â€‹â€‹â€‹â€‹â€‹ (7 marks)

Q3.â€‹Team W is doing a Quality Control project.  The pages are receiving in boxes, each of which contains 300 pages.  There are 3 distinct steps in the process:

1.
QC – the budget assumes that it takes 5 hours to QC each box
2.
Remap – the budget assumes that it takes 3 hours to remap each box
3.
Archive – the budget assumes that it takes 0.5 hours to archive each box

The QC always has to be done before the Remap, for each box.  The Archive step can only be done when all of the boxes have been QC’s and Remapped.

The budget for this project assumed that the team would receive 400 boxes.  Therefore, the budget was as follows:

 Number of boxes Total hours per box Price per hour Total revenue 400 8.5 \$40 \$136,000

After the first month of the project, the manager wants to know how the team is tracking against budget.  The information is as follows:

Number of team members working on the project = 8
Number of days worked per team member =21 (note – Team W works 7.5 hours per day)
Number of boxes which have been QC’d, but not remapped = 93
Number of boxes which have been QC’d and remapped = 76
(a)
How many hours is the Team over or under budget so far?â€‹â€‹â€‹(15 marks)

(b)
The client is adamant that the project cannot go over budget.  The manager has reviewed the process and is confident that the team can reduce the QC process on the remaining boxes to 4.4 hours per box.  However, the remap will still take 3 hours per box.  If that is achieved, what hours per box would be available for the archive step in order to remain within budget?â€‹                                                                                                                   (15 marks)

 Q4. There are 12 people in Team X.   • In the month of July, there were 20 working days.  Each person in Team X works 7 hours per day.   • 1 person took 15 holiday days in July, 1 person was off sick for 5 days and 1 person was seconded to another department for 10 working days. • During July, the team processed 23,000 paper documents, and 17,000 electronic pages.   • It has been calculated that an electronic page takes half the time of a paper page to process. • On average, there are 4.6 pages in a document.     • In the month of August, there are 22 working days.   • 25 holiday days have been booked by Team X.  We are not forecasting any sickness and nobody is on secondment.   • There are no electronic pages in August – only paper.   Assuming the same level of productivity is achieved, how many paper pages would we expect Team X to process in August?â€‹â€‹â€‹â€‹â€‹â€‹â€‹â€‹               (17 marks) Q5â€‹Project X consists of the following steps: - Prep and remap - Page processing in PhlexEview - QC - Prep for archive There are 300 boxes.  Each box averages 2,100 pages, split across 6 files (binders).  On average, there are 5 pages per document. Prep and remap takes a CTA 5 hours per file.  We charge our CTAs at \$350 per day. Page processing – we charge at \$1.40 per page.  This has been calculated to ensure that our Document Administrators earn \$280 per day for Phlex. QC – we will perform this step on 30% of the documents.  A senior CTA (we charge them out at \$400 per day) will average 40 documents per hour for this level of QC. Prep for archive – we charge \$50 per box.  We use CPA’s (whom we charge at \$275 per day). Project Manager – we are charging 5% of all time based costs (ie: prep and remap, QC and prep for archive) plus 5c per page processed, as PM fees. Each level of employee works 7.5 hours per day (excluding breaks). We are putting a team of 20 full time CTAs on the prep and remap step.  For page processing, there will be a team of 30 full time Document Administrators.  For the QC step, there will be a team of 5 full time senior CTAs.  For Prep for Archive, there will be a team of 4 full time CPA’s (each box will take 1 man hour to prep for archive). The tasks all need to be done sequentially (ie: prep and remap must be completed before page processing starts etc), except for Project Management which is spread across the whole process. Each shelf in our records centre holds a maximum of 11 files and we do not put more than oneclients files onto a shelf.  We are charging \$5 per shelf per week for this project, for storage for the duration of the project. This client has a pre-agreed volume discount with Phlex.  This means that for all revenue in a calendar year, above \$500,000, they get a discount of 5%.  In this calendar year, so far, we have earned \$300,000 revenue from them (before this project is considered).  This project will all be done in the calendar year.  We are not expecting to have any other work from this client in this year.     What will the total budget be for this project, after considering the volume discount? (15 marks)                                     Q6 – Phlexglobal is doing a QC project.  It consists of QC’ing 350 files (binders) each containing, on average, 300 pages.  Each file takes 4.5 hrs for a CTA to QC.  Therefore, the budget is for a team of 7 CTA’s, each working 7.5 hr days, for 30 days.   There are staff shortages at Phlex.  For the first 10 days of the project, we can only allocate 4 CTAs to the project.  After 10 days, we decide that we will use some CRAs on the project as well.  A CRA can do a file in 3.5 hrs.  Therefore, for days 11 – 20 of the project, we have 4 CTAs and 2 CRAs working on the project. After day 20, how many files should be complete, assuming the budgeted level of productivity is achieved? (7 marks)                               If we continue with the team of 4 CTAs and 2 CRAs, how long will it take us to finish the project (ie: how many days in total)? (7 marks)

 Subject Mathematics Due By (Pacific Time) 04/02/2014 03:00 pm
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