Lisa creates two types of jewelry: Type A and Type B. TypeA requires 90 minutes of carving and 1 hour of assembly,while Type B requires 45 minutes of carving and 2 hoursof assembly.Lisa can sell Type A for $12 and Type B for $55. If Lisa has1000 hours of curving and 500 hours of assembly time,how many of each type of jewelry should she make tomaximize revenue? Keep in mind that the number of TypeA jewelry has to be at least twice the number of Type Bjewelry. (Possible Answer: $9875)(Suggestion: Convert all hours to minutes to avoidmixing them up.)

Linear programming is a mathematical method used to find the best possible outcome or solution from…

Answered: Lisa creates two types of jewelry: Type…

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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Butch (Stinky) Rose's counterfeit Chanel No. 22.5 racket has run into difficulties: It seems that the authentic Chanel No. 22.5 perfume is selling for less than his counterfeit perfume. However, he has managed to reduce his fixed costs to zero, and his overall costs are now $800 per gram plus $30 per gram transportation costs and commission. (The perfume's smell is easily detected by specially trained Chanel Hounds, and this necessitates elaborate packaging measures.) He therefore decides to sell the perfume for $820 per gram to undercut the competition. Specify Stinky's profit function, P(x), where x is the quantity (in grams) of perfume he buys and sells. P(x) = Calculate how much perfume should pass through his hands per day in order that he break even. g:
6. The demand for a particular part called SKU 005 is 1,500 units a year. The cost of one SKU 005 is $40.00. It costs $50.00 to place an order for SKU 005, and the user of SKU 005 has a per year inventory carrying cost of 25% of unit cost. Assume 250 working days in the year where SKU 005 is used. (Noteshaper: Scenario #26) а. What is the combined annual holding and ordering cost of an order size of 200 units for SKU 005? b. How many of SKU 005 should be ordered, to minimize combined ordering and holding costs? c. The vendor who sells SKU 005 has just offered a 5% discount for orders of 500 or more. Now how many should be ordered? d. Once the purchasing manager for SKU 005 places an order, the vendor requires 7 working days to deliver that order. What should be the purchasing manager's reorder point?
Assume that Product Z is made of two units of A and four units of B. A is made of three units of C and four of D. D is made of two units of E. B is made of three units of E. If 50 units of Z is required to make, then how many units of D do they need? Group of answer choices 250 400 300 150 550
A company that manufactures cars would use about 50,000 steering wheels per year Such steering wheel is being ordered from a supplier that would cost the company P1.250.00 per order it would also costs 40% of the steering wheel's cost to keep it annually. The steering wheel costs P7,500.00 each How many steering wheels should be ordered at one time? ** Need as soon as possible pls.
Give an example of a variable cost (a firm only pays it when producing something)
Julia Martin is the production manager of a ready to wear manufacturing outfit. A decision needs to be made about the type of clothing material or fabric to be used to make a shirt. The fabric that has been used in the previous production cost P 40 per yard but it is not available currently. Similar material from another supplier will cost P 50 per yard. Required: Identify all costs that you can see in the Julia Martin problem. Explain simply why you classified it as such.
Zoey Enterprises manufactures solar engines for helicopters. Given the fuel savings available, new orders for 125 units have been made by customers requesting credit. The variable cost is $11,400 per unit, and the credit price is $13,000 each. Credit is extended for one period. The required return is 1.9 percent per period. If Zoey Enterprises extends credit, it expects that 30 percent of the customers will be repeat customers and place the same order every period forever, and the remaining customers will place one-time orders. Should credit be extended?
At a local concert hall, the owner charges $7 per ticket. The owner must pay his band $1200. Every customer receives a brochure that costs the owner $2 for each person. What system would determine when he breaks even?.
Pranuec Company mai Tactures, assembles, and rebunds material handing equipment used Tn war ses and uistr iters. One product, called a Liftmaster, is assembled from four components: a frame, a motor, two supports, and a metal strap. Frandec's production schedule calls for 6000 Liftmasters to be made next month. Frandec purchases the motors from an outside supplier, but the frames, supports, and straps may be either manufactured by the company or purchased from an outside supplier. Manufacturing and purchase costs per unit are shown. Component Manufacturing Cost Purchase Cost Frame $39.00 $52.00 Support $12.50 $16.00 Strap $7.50 $8.50 Three departments are involved in the production of these components. The time (in minutes per unit) required to process each component in each department and the available capacity (in hours) for the three departments are as follows: Department Component Cutting Milling Shaping Frame 3.6 2.3 3.2 Support 1.4 1.8 2.7 Strap 0.9 1.8 Capacity (hours) 370 430…
A manufacturer capacity is equal to 60 products per work day. The annual demand reaches 11,520 units per year. The manufacturer operates 6 days per week and 48 weeks per year. The cost to switch the production line from one type of product to the other is $50,000. It costs $1,000 to store on product for one year. a. What is the economic lot size? b. What is the total annual cost? Production Course.
Refer to Figure 11.23 and Solved Problem 1. If inventory consists of two units of B, one unit of F. and three units of G, how many units of G. E. and D must be purchased to produce five units of product A? Figure 11.23 for Product A D(1) LT-3 B(3) LT-2 EG LT-6 FIT) CO) LT-1 GALA LT=3 D(1) LT-3 LT-Lead time

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