Each day, the production manager is faced with the problem of how many of each type ofproduct to produce. The manager's goal is to maximize profits, but, at the same time, noexisting orders should go unfilled. Based on the following information, how many of eachproduct should the manager produce today?ProductABAluminum required(pounds)24Steelrequired(pounds)32Current inventory of aluminum - 50 poundsCurrent inventory of steel - 100 poundsQuantity of Product AQuantity of Product B2512Profit perunit1015Currentorders125

Linear programming helps us to find the optimal solution/best outcome, given the constraints. We…

Answered: Each day, the production manager is…

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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A manufacturer has a steady annual demand for 38400 cases of sugar. It costs $10 to store 1 case for 1 year, 30$ in set up cost to produce each batch, and $17 to produce each case. Find the number of cases per batch that should be produced to minimize cost. How many cases shoulder the manifacturer produce per batch?
List the system of inequalities which describe B in the graph below.ECON1003 Mathematics for Social Sciences Unit 3_Version 1 Page 33 6. Anya’s Jeans has production process organized in threedistinct stages: cutting; sewing and finishing. She produces threetypes of jeans, namely peddle-pushers, hipsters and low cuts. Thenumber of minutes each type requires in each production processin shown below.Type Cutting Sewing FinishingPeddle-Pusher 4 6 2Hipster 6 7 4Low Rider 9 3 6On average, there are 6400 minutes of cutting time, 3500 minutes ofsewing time and 2400 minutes of finishing time each day. Given thatthe company makes $10 profit on each peddle-pusher $ 50 on eachhipster and $60 on each low cut and that the company sells all thejeans made. List the system of inequalities for the cutting, sewingand finishing constraints.
The Woody Company manufactures slippers and sells them at $10 a pair. Variable manufacturing costs are $4.50 a pair, and allocated fixed manufacturing costs are $1.50 a pair. It has enough idle capacity available to accept a one-time-only special order of 20,000 pairs of slippers at $6 a pair. Woody will not incur any marketing costs as a result of the special order. What would the effect on operating income be if the special order could be accepted without affecting normal sales? (a) $0, (b) $30,000 increase, (c) $90,000 increase, (d) $120,000 increase
A company produces two products: A and B. Prod-uct A sells for $11 per unit and product B sells for $23 per unit. Producing a unit of product A requires two hours on assembly line 1 and one unit of raw ma-terial. Producing a unit of product B requires two units of raw material, one unit of A, and two hours on as-sembly line 2. On line 1, 1300 hours of time are avail-able, and 500 hours are available on line 2. A unit of raw material can be bought (for $5 a unit) or produced(at no cost) by using two hours of time on line 1.a. Determine how to maximize profit.b. The company will stop buying raw material whenthe price of raw material exceeds what value? (UseSolverTable.)
Using back-substitution, show that an ARMA(1, 1) model may be written as eitheran AR or an MA model.
Which of the following is an outcome of keeping a constant level of production capacity while matching the predictable variability? Group of answer choices 1.Surplus of stock can appear during lull periods. 2.Shortage of stock can appear during peak periods. 3.There is no need to adjust the amount of production resources. 4.All of the above.
Madonna’s Burgers is considering making hamburger buns in-house instead of buying them from its supplier. It has estimated the fixed costs for a used over to be $7,000 and the variable costs for the buns to be $0.25. It purchases buns for $0.50 each, and there are no fixed purchase costs. Its annual demand for buns is forecasted to be 15,000. Madonna’s wants to know how many buns it has to make to break even.
Hello! I need help solving this with the Newsvendor Model / Equation in Operations Management. I'm stuck! Sarah and her fiancé are planning for their wedding. Distribution of the number of guests coming to the party is normal with the mean 100 and the standard deviation 10. They need to determine how many guests to book for food from a caterer. The caterer makes the following charges: $50 for each guest that is booked in advance; $90 for each guest who is not booked in advance but shows up on the wedding day. The caterer does not offer any refund even if some booked guests may not show up. What is the optimal number of guests to book in advance? How much Sarah can save by booking the optimal quantity from a) in advance? What is the expected number of guests that will come to their wedding? If Sarah and her fiancé book 90 guests in advance with the caterer, what is the probability of stock out? If Sarah and her fiancé book 100…
ABC company creates specialty shipping bags that they sell to pharmaceutical companies across the globe. With their current equipment, ABC can produce 12,000 shipping bags for every 10 bundles of materials purchased. Every month (20 working days), ABC purchases100 bundles of materials. Each bundle requires one (1) labor minute to process, and every labor hour costs an average of $14.00. Each week (5 working days), ABC pays $5,000 inoverhead costs, and equipment costs $600 a day to operate.(a) How many shipping bags does ABC produce in a standard month (20 working days)? Each workday (8 hours)? (b). What is the single-factor productivity for labor, per workday (8 hours)? (d). What is the multi-factor productivity, for every dollar spent per shipping bag?
Work−in−Process Inventory has a debit balance of $84,000 and Manufacturing Overhead has a credit balance of $10,000. If an additional $54,000 of direct labor and $1,000 of indirect labor are incurred during production, what is the balance of Work−in−Process Inventory? A. $30,000 B. $9,000 C. $138,000 D.
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A company produces a niche hunting blind. Because of the nature of this product, demand varies greatly by season. In fact, demand exceeds production capacity during hunting season (fall,) but is very low in the summer months. To meet the high demand during the fall, the company produces the blind year round, producing more than what is needed in the summer in order to carry over inventory into the peak season. Their production facility can produce at most 60 blinds per month using regular labor at a cost of $125 each. Up to 15 additional blinds can be produced by utilizing overtime labor at a cost of $135 each. The blinds are sold for $225. Because of storage cost and the opportunity cost of capital, each blind held in inventory from one month to the next incurs a cost of $15 per blind. Since demand is uncertain, the company would like to maintain an ending inventory of at least 5 blinds during the warm months (May–September) and at least 15 blinds during the other months…

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