Product Variable Input 2 Multiple Choice 1 The diagram of product curves suggests that when marginal product is zero, total product is at a minimum. when marginal product lies above average product, average product is rising. when marginal product lies below average product, average product is rising. when total product is at a maximum, so are marginal product and average product.
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- 9. Which investment is the most engaging, if the cost of money is 9%?a. Investment Cb. Investment Ac. Investment Bd. Any of the investmente. None of the AboveAs an operations manager of OPQ Furniture, you must make a decision about adding a line ofrustic furniture for physical distribution. In discussing the possibilities with your sales manager, you decidethat there will be definitely be a market and that your firm should enter the market. However, because ofrustic furniture has a different finish than your standard offering, you decide you need another processline. There is no doubt in your mind about the decision, and you are sure that you should have a secondprocess. But you do question how large to make it. A large process line is going to cost $400,000; a smallprocess line will cost $300,000. The question therefore is the demand for rustic furniture. After extensivediscussion, you determine that the best estimate you can make is that there is a two out of three chanceof profit…George Fine, owner of Fine Manufacturing, is consideringthe introduction of a new product line. George has consideredfactors such as costs of raw materials, new equipment, andrequirements of a new production process. He estimates that thevariable costs of each unit produced would be $8 and fi xed costswould be $70,000.(a) If the selling price is set at $20 each, how many unitshave to be produced and sold for Fine Manufacturingto break even? Use both graphical and algebraicapproaches.(b) If the selling price of the product is set at $18 per unit,Fine Manufacturing expects to sell 15,000 units. Whatwould be the total contribution to profi t from this productat this price?(c) Fine Manufacturing estimates that if it off ers the productat the original target price of $20 per unit, the companywill sell about 12,000 units. Which pricing strategy—$18per unit or $20 per unit—will yield a higher contributionto profi t?(d) Identify additional factors that George Fine shouldconsider in deciding…Well water inc. wants to produce and sell a new flavored water in order topenetrate the market, the product will have to sell at 2.60 per 12 oz bottle thefollowing data has been collected: Annual sales 50,000 bottlesProjected selling and administrative costs 8,000Desired profit 80,000The target cost per bottle is _____ per bottle (2 decimal places)
- Suppose that marketing executives for Touche Toiletries reduced the price to $6.50 for a three-ounce bottle of Ode dToade and the fixed costs were $ 1,100,000.Sppose further that the variable cost rrainod at 45 percent for a three-ounce bottle. (a) How many bottles must be sold to break Oven? (b) What dollar profit level would Oded Toade achieve if 200,00 bottle were sold?A leading manufacturer of video games is about to introduce four new games. The accompanying tablesummarizes price and cost data, Combined fixed costs equal $600,000. A marketing research study predicts thatfor each unit sold of Diablo, 2 units of Call of Duty: Modern Warfare, 3 units of Sekiro and 4 units of Starcraft IIwill be sold.GamesDiablo Call of Duty Sekiro Starcraft IISelling Price (in dollars) 55 48 33 22Variable cost/unit (in dollars) 22 17 12 11a) How many product mix units must be sold to break even?b) How does it translate into sales of individual games?Flora’s Fabulous Fountains’ (FFF) top product is its ModelA. Using the information given, draw the product structure treefor the Model A
- 2a. An analysis of Revere Beach Corporation's operating income changes between 2021 and 2022 show the following: Operating income for 2021 $4,750,000 Add growth component 180,000 Deduct price-recovery component (60,000) Add productivity component 285,000 Operating income for 2022 $5,155,000 Required: Is Revere's operating income gain consistent with the product differentiation or cost leadership strategy? Explain briefly. 2b. An analysis of Terbolt Corporation's operating income changes between 2021 and 2022 show the following: Operating income for 2021 $4,750,000 Add growth component 75,000 Add price-recovery component 398,000 Deduct productivity component (50,000) Operating income for 2022…Refer to the following sensitivity report: Variable Cells Cell Name Final Value Reduced Cost Objective Coefficient AllowableIncrease AllowableDecrease $B$2 Product_1 0 −2 5 2 1E+30 $B$3 Product_2 175 0 7 1E+30 1 $B$4 Product_3 0 −1.5 9 1.5 1E+30 Constraints Cell Name Final Value Shadow Price Constraint R.H.Side AllowableIncrease AllowableDecrease $H$9 Resource_A 0 0 100 1E+30 100 $H$10 Resource_B 525 0 800 1E+30 275 $H$11 Resource_C 700 1.75 700 366.6666667 700 If the objective function coefficient for Product_1 were increased to a value of 8, which of the following would be TRUE? The optimal solution would change. The optimal objective function value would stay the same. Product_1 would enter the solution (the final value of the variable Product_1 would be greater than zero).Refer to the following sensitivity report: Variable Cells Cell Name Final Value Reduced Cost Objective Coefficient AllowableIncrease AllowableDecrease $B$2 Product_1 0 −2 5 2 1E+30 $B$3 Product_2 175 0 7 1E+30 1 $B$4 Product_3 0 −1.5 9 1.5 1E+30 Constraints Cell Name Final Value Shadow Price Constraint R.H.Side AllowableIncrease AllowableDecrease $H$9 Resource_A 0 0 100 1E+30 100 $H$10 Resource_B 525 0 800 1E+30 275 $H$11 Resource_C 700 1.75 700 366.6666667 700 If the right-hand side of Resource_C increases to 750, which of the following would be true The objective function value will increase by $1.75 The objective function value will decrease by $1.75 The objective function value will increase by $87.50 The objective function value will decrease by $87.50 None of the answer choices is correct
- Refer to the following sensitivity report: Variable Cells Cell Name Final Value Reduced Cost Objective Coefficient AllowableIncrease AllowableDecrease $B$2 Product_1 0 −2 5 2 1E+30 $B$3 Product_2 175 0 7 1E+30 1 $B$4 Product_3 0 −1.5 9 1.5 1E+30 Constraints Cell Name Final Value Shadow Price Constraint R.H.Side AllowableIncrease AllowableDecrease $H$9 Resource_A 0 0 100 1E+30 100 $H$10 Resource_B 525 0 800 1E+30 275 $H$11 Resource_C 700 1.75 700 366.6666667 700 If the objective function coefficient for Product_1 were decreased to a value of 3, which of the following would be TRUE? The optimal solution would change. The optimal objective function value would stay the same. Product_1 would enter the solution (the final value of the variable Product_1 would be greater than zero). A. 1 only B. 2 only C. 3 only D. 1, 2 and 3 E. Only 1 and 26) Nicole has decided to go to school which costs her a total of P19,500 and give upi on a job that paid her P24,900 for the year. But instead, she can hope to earn P29,900 after she graduates. Nicole's opportunity cost amount to?a. P19,500 b. P24,900c. P29,900d. P5,000 7. Villanueva Enterprises reported the ff. information. What is the cost of goods manufactured in February?I. Jan. 2017 -job accumulated cost of P3,000ii. Feb. 2017 -the following costs were added to production: Job 1-P10,000 Job 2-P8,000Job 3-P7,000 III. Feb. 2017 Job 1 was completed and sold for P18,000 Job 2 was completed but not sold Job 3 remains in production b. P8,000c. P10,000 d. P13,000e. P21,000 8. Julie borrowed a certain amount from Diane on June 2016. Two years later, Julle i again borrowed P5,000. Julie decided to pay P1,000 on June 2019 and dischargei her balance by paying P7,500 on June 2021. What was the amount borrowed oni June 2016 if the interest rate is 8% compounded annually?a. P1,389.50 b.…(a) Model the problem of maximizing next months profit as a linear program and solve it. Reportboth your LP and optimal solution in your submission. (b) Find the Shadow Price of each of the three processes as they relate to your optimal solutionand report them here. Describe how you found the prices and identify the units for each price. (c) Management is considering hiring some extra inspection time, but the union requires thatinspectors are paid $12 per hour. Will it be profitable to hire another man-hour of inspectioncapacit at a price of 12 dollars? How do you know? (d) At what price would should be willing to rent 1 machine-hour of vibration to a competingproducer? How many machine-hours can be rented out before your optimal solution changes.
