A University produces two courses for its Management students this year. MATA32 and MATA33. Each student taking MATA32 requires 6 hours of teaching, 2 hours of adminis- tration, with a revenue of $1300. Each student taking MATA33 requires 7 hours of teaching, 1 hour of administration with a revenue of $1700. Due to the University's resources, there is a maximum of 2010 teaching hours and 150 administration hours. The University must also admit at least 30 MATA32 and at least 30 MATA33 students due to government regulation. What is the maximum revenue?

A University produces two courses for its Management students this year. MATA32 and MATA33. Each student taking MATA32 requires 6 hours of teaching, 2 hours of adminis- tration, with a revenue of $1300. Each student taking MATA33 requires 7 hours of teaching, 1 hour of administration with a revenue of $1700. Due to the University's resources, there is a maximum of 2010 teaching hours and 150 administration hours. The University must also admit at least 30 MATA32 and at least 30 MATA33 students due to government regulation. What is the maximum revenue?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

John’s Publishing Company, a new service that writes term papers for college students, provides 11-page term papers from a list of more than 500 topics. Each paper will cost $7.50 and is written by a graduate in the topic area. John’s will pay $20,000 for the rights to all of the manuscripts. In addition, each author will receive $0.50 in royalties for every paper sold. Marketing expenses are estimated to be a total of $20,000 divided equally between Years 1 and 2, and John’s cost of capital is 11 percent. Sales are expected as follows: a. What are the ethical implications of this investment?
John’s Publishing Company, a new service that writes term papers for college students, provides 11-page term papers from a list of more than 500 topics. Each paper will cost $7.50 and is written by a graduate in the topic area. John’s will pay $20,000 for the rights to all of the manuscripts. In addition, each author will receive $0.50 in royalties for every paper sold. Marketing expenses are estimated to be a total of $20,000 divided equally between Years 1 and 2, and John’s cost of capital is 11 percent. Sales are expected as follows: a. What is the payback period for this investment? Its NPV? Its IRR? b. What are the ethical implications of this investment?
During each year, CSL Computer Company needs to train 27 service representatives. It costs $12,000 to run a training program, regardless of the number of students being trained. Service reps earn a monthly salaryof $1500, so CSL does not want to train them before they are needed. Each training session takes one month. a. State the assumptions needed for the EOQ model to be applicable. b. How many service reps should be in each training group? c. How many training programs should CSL undertake each year? d. How many trained service reps will be available when each training program begins?
A professional division at a business school provides several development programs that have been tailored to the specific training needs of both the public and private sectors. The program director is planning to offer a one-full-day course in risk management to be sold at $2,250 plus orientation fee (5%) per participant. The division incurs a cost of $45,000 for promotion, classroom space, staff and instructor’s salary, as well as a cost of $240 per participant for refreshments, lunch, course material, a gift package, and a framed certificate of completion. How many participants need to register in the course for it to be worthwhile to offer it? Round to two decimal places. Group of answer choices 21.20 26.86 36.72
The registration advisors at a small Midwestern university (SMU) help 4,200 students develop their class schedules and register for classes each semester. Each advisor works for 10 hours a day during the registration period. SMU currently has 10 advisors. While advising an individual student can take anywhere from 2 to 30 minutes, it takes an average of 12 minutes per student. During the registration period, the 10 advisors see an average of 300 students a day on a first-come, firstserved basis. Q. SMU wants to know the effect of reducing the average advising time on the average wait time. If SMU can reduce the average advising time to 10 minutes, what would be the average waiting time if 420 students were seen each day?
The registration advisors at a small Midwestern university (SMU) help 4,200 students develop their class schedules and register for classes each semester. Each advisor works for 10 hours a day during the registration period. SMU currently has 10 advisors. While advising an individual student can take anywhere from 2 to 30 minutes, it takes an average of 12 minutes per student. During the registration period, the 10 advisors see an average of 300 students a day on a first-come, firstserved basis. Q. calculate how long the average student will have to wait in the advisor’s office before being advised.
On July 1, Wiggins Associates enters into a contract to provide consulting services to Pennsylvania University (PU). The contract is anticipated to last four months and is intended to achieve significant cost savings at the university. The contract stipulates that PU will pay Wiggins $25,000 at the end of each month, and, if total cost savings reach a specific target, PU will pay an additional $20,000 to Wiggins at the end of the contract. Wiggins estimates a 75% chance that cost savings will reach the target.Assume that Wiggins estimates uncertain consideration as the most likely amount. Required:Do the following for Wiggins:a. Prepare the journal entry on July 31 to record the first month of revenue under the contract.b. Assuming total cost savings exceed the target, prepare the journal entry, if any, on October 31 to record receipt of the $20,000 bonus (ignore the normal October payment of $25,000).c. Assuming total cost savings do not reach the target, prepare the journal entry, if…
Ruth, the owner of Crystal Clean, is planning for the next year. She uses the absorption method to determine the evaluation of employees and how much to increase their hourly wage. She has budgeted the following information: Variable operating expenses $4 per unitFixed operating expenses $211900 Variable manufacturing cost $11 per unitFixed manufacturing cost $253000 Units to be produced 25300 unitsUnit selling price $31 per unit Year 1 Year 2 Beginning inventory (units) 0 1400 Actual production (units) 23800 25800 Sales volume (units) 22400 26500 There were no price or efficiency variances for either year. Ruth writes off any fixed MOH volume variance directly to COGS. Calculate the gross margin for year 1.…
The registration advisors at a small Midwestern university (SMU) help 4,200 students develop their class schedules and register for classes each semester. Each advisor works for 10 hours a day during the registration period. SMU currently has 10 advisors. While advising an individual student can take anywhere from 2 to 30 minutes, it takes an average of 12 minutes per student. During the registration period, the 10 advisors see an average of 300 students a day on a first-come, firstserved basis. The head of the registration advisors at SMU has decided that the advisors must finish their advising in 2 weeks (10 working days) and therefore must advise 420 students a day. However, the average waiting time given a 12-minute advising period will result in student complaints, as will reducing the average advising time to 10 minutes. SMU is considering two alternatives: a. Hire two more advisors for the 2-week (10-working day) advising period. This will increase the available number of…
The registration advisors at a small Midwestern university (SMU) help 4,200 students develop their class schedules and register for classes each semester. Each advisor works for 10 hours a day during the registration period. SMU currently has 10 advisors. While advising an individual student can take anywhere from 2 to 30 minutes, it takes an average of 12 minutes per student. During the registration period, the 10 advisors see an average of 300 students a day on a first-come, firstserved basis. The head of the registration advisors at SMU has decided that the advisors must finish their advising in 2 weeks (10 working days) and therefore must advise 420 students a day. However, the average waiting time given a 12-minute advising period will result in student complaints, as will reducing the average advising time to 10 minutes. SMU is considering two alternatives: a. Hire two more advisors for the 2-week (10-working day) advising period. This will increase the available number of…
The registration advisors at a small Midwestern university (SMU) help 4,200 students develop their class schedules and register for classes each semester. Each advisor works for 10 hours a day during the registration period. SMU currently has 10 advisors. While advising an individual student can take anywhere from 2 to 30 minutes, it takes an average of 12 minutes per student. During the registration period, the 10 advisors see an average of 300 students a day on a first-come, firstserved basis. The head of the registration advisors at SMU has decided that the advisors must finish their advising in 2 weeks (10 working days) and therefore must advise 420 students a day. However, the average waiting time given a 12-minute advising period will result in student complaints, as will reducing the average advising time to 10 minutes. SMU is considering two alternatives: a. Hire two more advisors for the 2-week (10-working day) advising period. This will increase the available number of…
The actual and planned data for Underwater University for the Fall term were as follows: Actual Planned Enrollment 4,500 4,125 Tuition per credit hour $120 $135 Credit hours 60,450 43,200 Registration, records, and marketing costs per enrolled student $275 $275 Instructional costs per credit hour $64 $60 Depreciation on classrooms and equipment $825,600 $825,600 Registration, records, and marketing costs vary by the number of enrolled students, while instructional costs vary by the number of credit hours. Depreciation is a fixed cost. Prepare a variable costing income statement showing the contribution margin and operating income for the Fall term. Underwater University Variable Costing Income Statement For the Fall Term Revenue $ Variable costs: Registration, records, and marketing costs $ Instructional costs Total variable costs $ Contribution margin $ Depreciation on classrooms and equipment Operating income…