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gavmur [86]
3 years ago
12

The logistics/operations manager of a mail order house purchases two products for resale: King Beds (K) and Queen Beds (Q). Each

King Bed costs $500 and requires 100 cubic feet of storage space, and each Queen Bed costs $300 and requires 90 cubic feet of storage space. The manager has $75,000 to invest in beds this week, and her warehouse has 18,000 cubic feet available for storage. Profit for each King Bed is $300, and for each Queen Bed is $150. 18) What is the objective function
Business
1 answer:
grigory [225]3 years ago
6 0

Answer:

Profit Function = (300 x king size bed) + (150 x queen size bed)

Explanation:

Objective Function is the function which needs to be optimised , i.e maximised or minimised. The function shows the objective variable as a dependent variable, determined by independent / explanatory variable(s).

Given Case : The manager would tend to maximise profit function.

Total Profit = Per unit profit x quantity

So, Profit Function: by per unit profit & sale quantities :

= (300 x king size bed) + (150 x queen size bed)

This profit objective function would be maximised, to find the profit maximising sale quantities of king & queen size beds.

Space, Budget would be the constraints to this optimisation.

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Answer:

Production Cost Report;Cost Reconciliation schedule,Equivalent units of Production;Unit Production Costs;Physical Units

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Production Cost Report:A summary of both production quantity and cost data for a production department.

Cost Reconciliation schedule:Shows that the total costs accounted for equal the total costs to be accounted for.

Equivalent units of Production:Work done during a period expressed in fully completed units.

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Physical Units:Actual units to be accounted for during a period, irrespective of any work performed.

Total Units Accounted for:Units transferred out during the period plus units in ending work in process.

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An ATM with a service fee of $3 is used by a person 200 times in a year. What would be the future value in 5 years (use a 2 perc
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Explanation:

The figure is arrived by calculating the future of the yearly total service of $600($3*200) by using applicable annuity factor for each of the years from year 1 to 5.

The annuity factor for each year is calculated as (1+r)^n, where r is the rate of return of 2% and the n the year in which the service fee relates to.

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This system can help a business monitor quantitative business factors

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An unfavorable materials quantity variance indicates that the actual usage of materials exceeds the standard material allowed for output.

<h3>What do you mean by material quantity variance?</h3>

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The material quantity variance yield unusual results as it is based on a standard unit quantity that is not even close to the actual usage.

Therefore, an unfavorable materials quantity variance indicates that the actual usage of materials exceeds the standard material allowed for output.

Learn more about Material Quantity variance here:

brainly.com/question/15082996

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