1. A furniture manufacturer produces two types of tables(country and contemporary) using three types ofmachines. The time (hours) required to produce thetables on each machine is given in the table below.Machine Country contemporary Total hours available per weekRouter 1.5Sander 3.0Polisher 2.52.04.51.5100020001500Country tables sell for GH¢350 and contemporary tables sellfor GH 450. Management has determined that at least 20% ofthe tables made should be country and at least 30% should becontemporary.(a) Define the decision variables for this problem.(b) Formulate a Linear Programming (LP) model for thisproblem..Your model was solved using the solver and the sensitivityreport is provided below.

The four steps that are required for solving the Linear Programming Problem are as follows:…

Answered: 1. A furniture manufacturer produces…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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2. Four products are processed sequentially on three machines in an aircraft maintenance workshop. The following Table 1 gives the operational data of the problem. Machine 1 2 3 Unit selling price ($) Table 1: Operational data for the problem Manufacturing time (hr) per unit Cost per hr Product Product Product Product $ 1 3 4 10 2 4 2 5 1 2 4 2 1 55 45 37 75 2323 70 Capacity (hr) 500 380 450 (a) Formulate the problem as a Linear Programming (LP) problem (b) Determine the optimal product-mix in the production schedule and the optimal profit
The following table gives the annual revenue for two different companies (in billions of dollars) for a 10-year period Construct a boxplot for Company A. Year 2007 2008 2009 Company A 94 100 99 99 Company B 46 63 60 69 2010 2011 2012 2013 2014 2015 2016 106 102 101 92 89 84 78 76 82 93 89 74 Min= Q₁ = (Type integers or decimals.) *** What is the five-number summary of the annual revenues for Company A? Q₂ = Q3 = Max =
Demand for stereo headphones and music players for joggers has caused Nina Industries to grow almost 50 percent over the past year. The number of joggers continues to expand, so Nina expects demand for headsets to also expand, because, as yet, no safety laws have been passed to prevent joggers from wearing them. Demand for the players for this year was as follows: MONTH DEMAND (UNITS) January 4,150 February 4,250 March 3,950 April 4,350 May 4,950 June 4,650 July 5,250 August 4,850 September 5,350 October 5,650 November 6,250 December 5,950 a. Using linear regression analysis, what would you estimate demand to be for each month next year? Using a spreadsheet, follow the general format in Exhibit 3.8. (Do not round intermediate calculations. Round your answers to 2 decimal places.) b. To be reasonably confident of meeting demand, Nina decides to use 3 standard errors of estimate for safety. How many additional units should be held to meet this…
A manufacturing company has the following financial information (in millions of $)Sales $562Cost of goods soldDirect labor 43Purchased materials 267Overhead 35All other costs 142Pretax earnings 75a. What is the profit leverage effect of purchasing in this company?b. What is the percent increase in earnings from a 5 percent savings in purchasing?
A manufacturing company makes two types of water skis, a frick ski and a slalom ski. The relevant manufacturing data are given in the table. Labor-Hours per Ski Department Fabricating Finishing Answer parts (A), (B), and (C) below. Trick Ski 12 1 Slalom Ski 8 1 xxx Maximum Labor-Hours Available per Day 336 36 (A) If the profit on a trick ski is $60 and the profit on a slalom ski is $50, how many of each type of ski should be manufactured each day to realize a maximum profit? What is the maximum profit? The maximum profit is $ The maximum occurs when trick skis and slalom skis are produced.
Direct Materials and Direct Labor Variance Analysis Shasta Fixture Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 50 employees. Each employee presently provides 32 hours of labor per week. Information about a production week is as follows: Standard wage per hour $12.00 Standard labor time per unit 15 min. Standard number of lbs. of brass 1.5 lbs. Standard price per lb. of brass $11.00 Actual price per lb. of brass $11.25 Actual lbs. of brass used during the week 11,124 lbs. Number of units produced during the week 7,200 Actual wage per hour $12.36 Actual hours for the week (50 employees × 32 hours) 1,600 Required: a. Determine the standard cost per unit for direct materials and direct labor. Round the cost per unit to two decimal places. Direct materials standard cost per unit $fill in the blank 1 Direct labor standard cost per unit $fill in the blank 2 Total standard cost per unit $fill in…
A relatively small privately owned coal-mining company has the sales results summarized below. Determine the annual percentage depletion for the coal mine. Assume the company's taxable income is $125,000 each year. Sales, Tons 34,300 Year Spot Sales Price, $/Ton 1 9.82 2. 50,100 11.5 71,900 11.23 50% of the Gross Depletion Allowed Year taxable Income, $ amount Depletion amount 1. 3.
5) period. MARR is 10% per year compounded annually. Maintenance costs for a bridge are cyclic with the following costs occurring over a 5-year ΕΟΥ 2 3 4 5 Maintenance $50 million S75 million $75 million $75 million $150 million Cost a) b) capıtalized cost (worth) of the maintenance costs. Compute an equivalent uniform annual cost over a single 5-year maintenance cycle. It is anticipated that the sequence of costs will repeat every 5 years forever. If so, determine the
EFE company manufactures and sells boats. The company's management accountant gathered the following data to prepare budgets for 2012; Direct Materials Requirements Material A 12 metres per boat Material B 14 square meter per boat Inventory data of Direct Materials are; Beginning Inventory Material A 5.000 meters Material B 2400 square meters Inventory data of Finished Goods are; Beginning Inventory Target Ending Inventory Вoats 1.000 units 3.000 units Moreover, unit purchase price of material A was $60 and unit purchase price of material B was $10. For the coming year 2021 it is expected that unit purchase price of material A will be $64 and unit purchase price of material B will not change. The company uses FIFO inventory method. Labor hours required to produce 1 boat is 3 hours and the company plans to pay S12 per hour. Company budgeted manufacturing overhead rate of $6 per labor hour. Finally, the company expects to sell 4000 boats in 2021 at an average unit selling price of $6000.…
2) NaserCo Wants to display it products within 10,000 feet square according to the following Data: Cost of Other Needed space Cost of each Sales storing extra each price per of each Unit Unit Product cost Unit (in feet) per unit 5 Unit A 50 2 80 20 B 90 3 7 115 15 C 180 5 10 250 30 D 230 7 8 300 40 NaserCo decided to 1. Display at least 10 units of each Product A and B. 2. Display at most 20 units of product C and D. 3. the capital prepared for buying is 250000 dinar. Find the Linear programming form of the above problem.
The following information relates to the performance of a manager in 2020. Benchmark weight Return on the benchmark Actual returnActual Weight Equity Bonds Cash 7.28% 0.6 0.5 6.00% 3.20% 0.90% 3.60% 0.90% 0.2 0.3 0.2 0.2 Details of investments in different sectors of the equity market are as follows: Sector Beginning of month weights S&P 500 Sector return Basic material 1.96 6.30 6.9 Business services 5.80 7.10 7.0 Capital goods 1.91 8.80 4.1 Consumer cyclical 8.47 12.50 8.8 Consumer non-cyclical 40.37 19.40 10.0 Credit sensitive 24.01 20.80 5.0 Energy Technology 13.53 13.20 2.6 3.95 11.90 0.6
Cox Electric makes electronic components and has estimated the following for a new design of one of its products. . Fixed cost $12,750 • Material cost per unit = $0.16 • Labor cost per unit = $0.12 . Revenue per unit = $0.62 Note that fixed cost is incurred regardless of the amount produced. Per-unit material and labor cost together make up the variable cost per unit. Assuming that Cox Electric sells all that it produces, profit is calculated by subtracting the fixed cost and total variable cost from total revenue. Construct an appropriate spreadsheet model to find the profit based a given production level and use the spreadsheet model to answer these questions. (a) Construct a one-way data table with production volume as the column input and profit as the output. Breakeven occurs when profit goes from a negative to a positive value; that is, breakeven is when total revenue = the total cost, yielding a profit of zero. Vary production volume from 0 to 100,000 in increments of 10,000. In…

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