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dexar [7]
3 years ago
11

ABC furniture company makes chairs and desks from two resources-labor and wood. The company has 90 hours of labor and 40 feet of

wood available each day. Demand for chair is limited to 15 per day. Each chair requires 8 hours of labor and 3 feet of wood, whereas a desk requires 10 hours of labor and 6 feet of wood. The profit for each chair is $50 and for each desk is $70. The company wants to determine the number of chairs and desks to make in order to maximize profit. Formulate a linear programming model for this problem.
Business
1 answer:
qaws [65]3 years ago
4 0

Answer:

Explanation:

Linear Programming formulation:Total profit = 70X1 + 50X2= 170

Subject to:8X1 + 3X2 <= 14

10X1 + 6X2<= 22

X2<=15

X1>= 0

X2>=0

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Collins Inc. is investigating whether to develop a new product. In evaluating whether to go ahead with the project, which of the
SVEN [57.7K]

Answer:

The answer is a. The project will utilize some equipment the company currently owns but is not now using.

Explanation:

If you look at all the other options that are listed here, they either are a significant sum to the company or has a significant the opportunity cost. In this one, company uses idle assets and therefore bears no opportunity cost.

4 0
3 years ago
Suppose a firm incurred explicit costs of $900 and implicit costs of $200 during a day. If that day the firm sold 8 units at $30
likoan [24]

Answer:

d. $1,500 and its economic profits are $1,300.

Explanation:

The computation is shown below

For accounting profit, it is

= Total revenue - Explicit cost

where,

Total revenue is = 8 units × $300 per unit = $2,400

And, the explicit cost is $ 900

So, the accounting profit is

= $2,400 - $900

= $1,500

And, the economic profit is

= Total Revenue - explicit cost  - implicit cost

= $2,400 - $900 - $200

= $1,300

Simply applied the above formulas so that the both profits could arrive

5 0
3 years ago
When profit-maximizing firms in competitive markets are earning profits, market demand must exceed market supply at the market e
ella [17]
The correct answer is " new firms will enter the market"
4 0
4 years ago
School Days Furniture, Inc., manufactures a variety of desks, chairs, tables, and shelf units which are sold to public school sy
Blababa [14]

Answer:

Production Budget ( July August September)  5200,  6300,    9000        

Sales Budget   ( July August September)  $ 300,000   $ 360,000  $ 450,000      

Direct Materials Budget ( July August September) $ 31860   $ 39,420                $ 48,600    

Direct Materials Units  Budget   ( July August September)  53,100             65,700    81,000

Direct Labor Budget  ( July August September)  $ 163,800  $ 198450  $ 283,500  

Direct Labor Hours Budget  ( July August September)7800  9450     13500

Explanation:

The formula used are

<em>1) Production Budget = Sales + Desired Ending Inventory Less Opening Inventory</em>

<em>2) Sales Budget= Sales * Price Per unit</em>

<em>3) Raw Materials Budget = Production + Desired Ending Inventory Less Opening Inventory</em>

<em>Raw Materials Costs= Raw Materials Budget * Costs</em>

<em>4) Direct Labor Hours Budget = Production * Direct Labor Hours</em>

<em>Direct Labor Budget = Direct Labor Hours Budget* Wages Per Hour</em>

<em><u /></em>

<u>School Days Furniture, Inc.</u>

<u>Production Budget</u>

                                    <u>  July               August               September </u>

Sales                            5000              6000                   7500

+ Desired

Ending Inventory        1200               1500                     ------(assuming zero inv)

Less Opening

<u>Inventory                    1000               1200                     1500            </u>

<u>Production Budget    5200                6300                   9000    </u><u>     </u>

<u />

Production Budget = Sales + Desired Ending Inventory Less Opening Inventory

<u></u>

<u>School Days Furniture, Inc.</u>

<u>Sales Budget</u>

                                      <u>July                August             September </u>

Sales                            5000              6000                   7500

<u>Price Per unit                 $ 60              $60                     $ 60                    </u>

<u>Sales Budget            $ 300,000          $ 360,000             $ 450,000       </u>

<u />

Sales Budget= Sales * Price Per unit

<u></u>

<u>School Days Furniture, Inc.</u>

<u>Raw Materials Budget</u>

                                    <u>  July               August               September </u>

Production Budget         5200                6300                   9000    

+ Desired

Ending Inventory             630                   900      ------(assuming zero inv)

Less Opening

<u>Inventory                        520                   630                   900           </u>

<u>Materials Requiremnt    5310                6570                  8100  </u>

<u>Board (feet)                      10                      10                           10          </u>

Direct Materials          53,100             65,700                 81,000

<u>Plank Costs                  0.60                 0.60                        0.60         </u>

<u>Direct Materials          $ 31860            $ 39,420                $ 48,600  </u><u>  </u>

Raw Materials Budget = Production + Desired Ending Inventory Less Opening Inventory

Raw Materials Costs= Raw Materials Budget * Costs

<u></u>

<u>School Days Furniture, Inc.</u>

<u>Direct Labor Budget</u>

                                    <u>  July               August               September </u>

Production Budget         5200                6300                   9000    

<u>Direct Labor hours          1.5                     1.5                       1.5        </u>

<u>Direct Labor Hours        7800                9450                  13500</u>

Wages Per hour              $ 21                 $ 21                     $21

<u>Direct Labor Budget   $ 163,800         $ 198450          $ 283,500  </u>

Direct Labor Hours Budget = Production * Direct Labor Hours

Direct Labor Budget = Direct Labor Hours Budget* Wages Per Hour

<u />

<u />

4 0
3 years ago
The ability to automatically detect the occurrence of an abnormality, thereby helping achieve quality at the source, is?
Sever21 [200]

 The ability to automatically detect the occurrence of an abnormality, thereby helping achieve quality at the source, is jidoka

Therefore, Jidoka's definition is best understood as "automation". This means manual automation or autonomous automation. The origin of Jidoka can be traced back to Toyota Motor Corporation, which was founded by Sakichi Toyoda as a textile manufacturer.

A famous example of Jidoka is his Model G for Toyoda Automatic Loom, invented and patented in 1925 by Sakichi Toyoda (1867–1930). This is one of the many looms invented by this inventor, but perhaps his most famous. This loom could be operated almost unmanned. Jul 31, 2018

Automation is a commonly used term in Lean Manufacturing, widely considered one of the pillars of the Toyota Production System, the other being Just in Time (JIT). The term "Jidoka" is often used to impress others, but the idea behind it is less common outside of Toyota.

Learn more about jidoka here

brainly.com/question/162683

#SPJ4

3 0
2 years ago
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