Set up and go through the Simplex method to determine the maximum profit.
Q: Discuss how aggregate planning differs when a company doesn't provide a tangible product?
A: Aggregate planning is a technique for projecting future demand volume and timing (3-18 months). It…
Q: which are costs relevant to the aggregate production plan and explain?
A: Aggregate planning using transportation method helps to attain the minimum cost with the optimal…
Q: Justify why aggregate planning is different when a business does not produce a tangible good
A: Aggregate planning is a methodology for forecasting the future volume and timing of demand (3-18…
Q: Explain why aggregate planning is different when a business does not produce a tangible good
A: Aggregate planning is a technique for forecasting the volume and timing of future demand (3-18…
Q: Title: How Activity Based Costing system helps the industry to improve performance Note: 1.1.…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: hase strategy is considered a sales and operations planning strategy such that: Select one: a.…
A: The chase strategy refers to the notion that you are chasing the demand set by the market.…
Q: Compute for the Cost of Goods Sold using the following:
A: Cost of goods sold is basically the cost that is incurred to produce the goods which are sold.
Q: Explain the Production Planning and Inventory?
A: Production planning and control is a fixed method that involves the use of human resources, raw…
Q: Find the break-even point for the firm whose cost function C and revenue function R are given. C(x)…
A: The concept used here is break even point analysis.
Q: Provide an example of how cost tracking might be similar used in a manufaction company
A: It is obvious that every method of costing will give you different results because in every method…
Q: What other factors should Jack and Mary consider in making their decisions to accept or reject the…
A: In the above case for the costs incurred in manufacturing as well as the sale price is mentioned in…
Q: To what does bill of material structure refer? Why is it important?
A: A bill of materials (BOM) is a broad rundown of raw materials, segments, and guidelines needed to…
Q: How does revenue management impact an aggregateplan?
A: Aggregate planning refers to developing a plan for maintaining and scheduling all the internal…
Q: Started in early 80’s from Buying and selling to relationship marketing and maintaining customer…
A: The correct option is option b. CRM(Customer Relationship Management).
Q: How to calculate the estimated yearly demand?
A: The "economic request quantity" method computes the ideal measure of stock to arrange at a time,…
Q: Boots Style, Inc. Purchases Budget- Material A For the First Quarter of 2021
A: Given that: Sales Budget(units) Jan 157000 Feb 162000 Mar 204000 Apr 223000 May…
Q: Does Starwood employ a chase, level, or mixed strategy? Why is this approach the best choice for the…
A: The term mаnаgement is used tо define аn оrgаnizаtiоn's аdministrаtiоn, irresрeсtive оf…
Q: How many burgers you would need to sell to break even? What should be the selling price per burger…
A: Break-even point is the point where the cost of production and revenue of production are equal to…
Q: A decrease of enter your response here% in supply-chain costs is required to yield a profit of…
A: It is given that the initial profit is $22,400 and desired profit level is $32,400.
Q: Explain what is the break even analysis?
A: After considering the personnel's skills and working capacities, the firm or manager establishes…
Q: Mr. Appoh has operated a satisfactory account with your branch for a period of 6 years. He is a…
A: The documents which Mr. Appoh is required to present are as stated in Step 2.
Q: Which of the following aggregate planning strategies cannot impact the demand 1)subcontracting…
A: A balanced scorecard is a strategic management performance used to improve and identify internal…
Q: Explain any 2 methods that is used when developing an Aggregate plan using a Chase strategy.
A: ANSWER: A chase strategy implies when there is matching demand period by period. A considerable…
Q: What is FR(N)? How is it calculated? How are FR(N) and MTBF related?
A: Answer: In the domain of reliability management, FR means failure rate of products which is…
Q: Why are the lead times so long?
A: Lead times:Lead time is the time gap between the initiation and the completion of a process. In…
Q: Mavis and John have joined forces to start M&J Food Products, a processor of packaged shredded…
A:
Q: Explain more clearly the cost estimation techniques?
A: Cost refers to the money expenditure on the provision of a service or production of a good.
Q: Kamal Fatehl production manager of Kennesaw Manufacturing, finds his profit at $13,000 (as shown in…
A: Given data Sales level (SL) = $260000 Current profit (CP) = $13,000 Required profit (RP) = $23000…
Q: Large service organisations, such as banks and hospitals, used to be noted for their lack of…
A: A technique for allocating overhead and indirect costs like wages and utilities to goods and…
Q: Determine a four-step system for evaluating long-term load and associated cash flows?
A: The practice of measure the cost of production space required by a business to meet its output…
Q: Which starting technique generally gives a better initial solution, and why?
A: Starting technique as follow
Q: Explain how an aggregate production plan is made.
A: Aggregate production planning - is reasonable for operation management. It is linked with the…
Q: 28-When revenue equals expenses, the result is : Loss Zero cash balance Profit No profit no loss
A: The Break-even point denotes the profits that are required to be attained so as to pay off for the…
Q: Activity 8: Explain in your own words. 1. Intangible- 2. Perishable- 3, Needs - 4. Wants 5. Demands…
A: Intangibility and perishability are the characteristics of the service. Services cannot be seen or…
Q: plan for sucess
A: In the planning stage, leaders establish goals and create a course of action to achieve them.
Q: what is ikea production plan?
A: IKEA has a clear vision to provide the best furnishing products at affordable prices and meet the…
Q: What cost segregation technique gives the most mathematically precise cost estimate? a. Scatter…
A: THE ANSWER IS AS BELOW:
Q: Find a constant workforce plan for the eight months and the total cost of the plan, if backorders…
A: Given details Month Workdays Demand January 21 1800 units February 19 2465 units March 20…
Q: Title: How Activity Based Costing system helps the industry to improve performance 1.3 Advantages…
A: Activity-based costing is a cost management method for inventory where the cost of each activity is…
Q: Excellent Clothing Company is run by Ms Dilnaz and her son, Burzin. They manufacture dresses for…
A: The functions of management are the various processes that are implemented stage by stage so that…
Q: What will happen to financial results if a specified level of activity or volume changes?
A: Cost-Volume-Profit (CVP) examination is a methodical technique for inspecting the connections…
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- 5. Christy Crafty Boat Supplies has 250 yards of canvas to make sails and deck covers. There are205 hours of labor available. The following data apply:Profit Canvas LaborSail $50 35 yards 10 hoursDeck Cover 65 10 15How many of each should be made to maximize profit? 6. KitchenKorp produces three electrical appliances: blenders and can openers. These products havethe following resource requirements.ProductResource RequirementsCost/Unit Labor hours/UnitCan OpenerBlender$172056There is a maximum of 1,000 hours of labor available during the coming period. Maximum customerdemand during this time is 150 for each of the products. Selling prices are $35 for a can opener and$45 for a blender. How many of each should be made to maximize profits?Pam's business earns $33,000 per month. Pam's non-employee expenses are $13,500 per month. If Pam wants $4,500 in profit per month, how many employees can she employ if each employee costs $3,000 per month? A. 2.5 employees B. 5 employees C. 6 employees D. 4 employeesA wood products firm uses available time at the end of each week to make goods for stock.Currently, two products on the list of items are produced for stock: a chopping board and a knifeholder. Both items require three operations: cutting, gluing, and finishing. The manager of thefirm has collected the following data on these products.TIME PER UNIT (MINUTES)Item Profit/Unit Cutting Gluing FinishingChopping board $2 1.4 5 12Knife holder $6 0.8 13 3The manager has also determined that, during each week, 56 minutes are available for cutting, 650minutes are available for gluing, and 360 minutes are available for finishing.a. Determine the optimal quantities of the decision variables if the goal is to maximize profit.b. Which resources are not completely used by your solution? How much of each resource isunused?
- A manager wants to know how many units of each product to produce on a daily basis in order toachieve the highest contribution to profit. Production requirements for the products are shown inthe following table.ProductMaterial 1(pounds)Material 2(pounds)Labor(hours)A 2 3 3.2B 1 5 1.5C 6 — 2.0Material 1 costs $5 a pound, material 2 costs $4 a pound, and labor costs $10 an hour. Product Asells for $80 a unit, product B sells for $90 a unit, and product C sells for $70 a unit. Availableresources each day are 200 pounds of material 1; 300 pounds of material 2; and 150 hours of labor.The manager must satisfy certain output requirements: The output of product A should not bemore than one-third of the total number of units produced; the ratio of units of product A to units ofproduct B should be 3 to 2; and there is a standing order for 5 units of product A each day. Formulate a linear programming model for this problem, and then solveABC Cabinets received a contract to produce bookshelf speakers (BS) and floor speakers (FS) over the next 2months. The contract says ABC must deliver 2100 BS and 1500 FS at the end of month 1 and deliver 1200 BS and2600 FS at end of month 2. The time to make a BS is 0.7hr and a FS is 1hr. Raw material costs $10 for each BSand $12 for each FS and there is an unlimited amount available. Labor costs are $22/hr using regular productiontime and $33/hr using overtime. ABS has up to 2400hrs of regular production time each month and up to 1000additional hours of overtime each month. Any cabinets left at the end of month 1 can be stored for $5/cabinet.(a) Formulate an LP to determine the number of units that should be manufactured each month on regular andovertime to minimize total production and storage costs#3 Mention some drawbacks of the Linear Model?
- 2. A canning company produces two sizes of cans—regular and large. The cans are produced in 10,000-can lots. The cans are processed through a stamping operation and a coating operation. The company has 30 days available for both stamping and coating. A lot of regular-size cans require 2 days to stamp and 4 days to coat, whereas a lot of large cans requires 4 days to stamp and 2 days to coat. A lot of regular-size cans earn $800 profit, and a lot of large-size cans earn $900 profit. In order to fulfill its obligations under a shipping contract, the company must produce at least nine lots. The company wants to determine the number of lots to produce of each size can (and) in order to maximize profit. 8. In Problem 2, how much flour and sugar will be left unused if the optimal numbers of cakes and Danish are baked?Hot Oven daily requirements of 70 g of protein, 1 g calcium, 12 mg iron, and 3000 calories are needed for a balanced diet. The following foods are available for consumption with the cost and nutrients per 100 g as shown. protien (g) calories calcium(g) iron(mg) cost (ghc) brown bread 12.0 246 0.1 3.2 0.5 cheese 24.9 432 0.2 0.3 20 butter 0.1 793 0.03 0.0 1.0 baked beans 6.0 93 0.05 2.3 0.25 spinach 3.0 26 0.1 2.0 0.25 The objective of the Hot Oven is to find a balanced diet with minimum cost.a) Formulate a linear programming model for this problem. b) Use solver to find optimal solution and sensitivity report. c) Management have asked you to determine the optimal solution. Write your answer in a form of a report to be submitted to the management. d) Advice the management about objective function value corresponding to your answer in (b)1) Which of the following translates business plan into productionplanningAPPMPSMRPNone of the Above2) Master production schedule is a medium-range planning and it isused for quantity and timing ofcomponents and raw materialFinished goodsBoth A & B3) The manufacturing strategy which deploys hiring and laying ofworkers in order to match its production rate to demand is calledLevel Production StrategyChase Production StartegyHybrid StrategyNone of the above4) "In a level production strategy, if the firm makes annual 120,00units per annum, the permonth production can be estimatted by""120,00 /12""120,00 / 365"The information is not complete5) The Bill of material is an engineering documments that showsinclusive listing and sub-components to be used for end productTRUEFALSE6) A lead capacity usually increases or decreases its capacity in anticipation of demand, this is known as "Match strategyLead Capacity StrategyLag capacity strategy7) The most important output of MRP isBOMPlanned…
- 4. Ana owns a consulting business that helps software companies market their services to school districts. She earns an average of $4635.7 for every contract one of her client companies signs with her help. In order to be able to run her business, she needs to cover $7,000/month (rent, licenses, etc.). The average costs associated with each contract are $1676.6. How many contracts must she facilitate each month in order to break even? a. 2.37 b. 1.51 c. -2.37 d. -1675.09 e. 10966.14 f. None of the other options.construct the oc curve for a single draw N=1,650; n=80 and c=2 for P=0%,0,5%, 1%, 1.5%,2%, 3%, 4%,5%,6%2. A firm makes two products X and Y and has a total production capacity of 9 tons per day.X and Y requiring the same production capacity. The same has a permanent contract to supply at least two tons of X and at least 3 tons of Y per day to another company. Each ton of X requires 20 machine hours of production time and each ton of Y requires 50 machine hours of production time. The daily maximum possible number of machine hours is 360. The entire firm's output can be sold and profit made is 80 R.O of X and 120 R.O per ton of Y. It is required to determine the production schedule for maximum profit and to calculate this profit. Formulate a LPP.