Production and Operations Analysis, Seventh Edition
7th Edition
ISBN: 9781478623069
Author: Steven Nahmias, Tava Lennon Olsen
Publisher: Waveland Press, Inc.
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Chapter 3.5, Problem 26P
A)
Summary Introduction
Interpretation: formulate linear program
Concept introduction: Linear Programming (LP) is a process to accomplish the best conclusion, such as highest profit or least cost in a Mathematical Model whose necessities are signified by linear relations.
B)
Summary Introduction
Interpretation: determine the cost of the plan and optimal solution.
Concept introduction: Linear Programming (LP) is a process to accomplish the best conclusion, such as highest profit or least cost in a Mathematical Model whose necessities are signified by linear relations.
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A local semiconductor firm, Superchip, is planning its workforce and production levels over the next year. The firm makes a variety of microprocessors and uses sales dollars as its aggregate production measure. Based on orders received and sales forecasts provided by the marketing department, the estimate of dollar sales for the next year by month is as follows: (given)
Inventory holding costs are based on a 25 percent annual interest charge. It is anticipated that there will be 675 workers on the payroll at the end of the current year and inventories will amount to $120,000. The firm would like to have at least $100,000 of inventory at the end of December next year. It is estimated that each worker accounts for an average of $60,000 of production per year (assume that one year consists of 250 working days). The cost of hiring a new worker is $200, and the cost of laying off a worker is $400.a. Formulate this as a linear program.b. Solve the problem. Round the variables in the…
I need a detailed assistance to solve the following problem in: Operations Analysis.
1) A trucking company maintains an inventory of trucks that varies monthly. The ending inventory of trucks during the first 8 months of the year (January to August) were 26, 38, 31, 22, 13, 9, 16, 5, respectively. The monthly inventory holding cost is proportional to the monthly ending inventory. Trucks incur the following costs
Each truck costs the company $8,000.
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Each truck incurs a storage cost of 3% per annum of the truck cost.
Each truck incurs a liability insurance cost of 2% per annum of the truck cost. The carrying cost is the total of all costs (capital, storage and insurance.)
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“Mickey Limited is a manufacturing business that uses a standard costing system. The company’s flexed budget for April 20X9 is:
Sales
£173,340
Costs
Direct materials
(£22,500)
Direct labour
(£37,684)
Variable production overheads
(£15,520)
Fixed production overheads
(£49,400)
Profit
48,236
The company’s directors are presented with the following standard cost operating statement for the month:”
Total
Original budgeted net profit
£44,540
Favourable
(Adverse)
Sales profit volume variance
£3,696
Sales price variance
£424
Direct materials price variance
£1,372
Direct materials quantity variance
£2,560
Direct labour rate variance
-
-
Direct labour efficiency variance
£480
Production overhead variance
£240…
Chapter 3 Solutions
Production and Operations Analysis, Seventh Edition
Ch. 3.1 - Prob. 1PCh. 3.1 - Prob. 2PCh. 3.1 - Prob. 3PCh. 3.1 - Prob. 4PCh. 3.1 - Prob. 5PCh. 3.1 - Prob. 6PCh. 3.2 - Prob. 7PCh. 3.2 - Prob. 8PCh. 3.2 - Prob. 9PCh. 3.2 - Prob. 10P
Ch. 3.2 - Prob. 11PCh. 3.2 - Prob. 12PCh. 3.3 - Prob. 13PCh. 3.3 - Prob. 14PCh. 3.3 - Prob. 15PCh. 3.3 - Prob. 16PCh. 3.4 - Prob. 17PCh. 3.4 - Prob. 18PCh. 3.4 - Prob. 19PCh. 3.4 - Prob. 20PCh. 3.4 - Prob. 21PCh. 3.4 - Prob. 22PCh. 3.4 - Prob. 23PCh. 3.5 - Prob. 26PCh. 3.5 - Prob. 27PCh. 3.6 - Prob. 29PCh. 3.6 - Prob. 30PCh. 3 - Prob. 31APCh. 3 - Prob. 32APCh. 3 - Prob. 33APCh. 3 - Prob. 34APCh. 3 - Prob. 35APCh. 3 - Prob. 36AP
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