Two mining fields, Field A and Field B, of a coal mining company produce Lignite and Bituminous coal. The operating cost per day
for Field A and Field B are $55,000 and $45,000, respectively. The recent records at the company indicate that Field A can produce 250 tons of Lignite along with 300 tons of Bituminous coal per day, whereas Field B can produce 200 tons of Lignite along with 450 tons of Bituminous coal per day. The expected demands to be met are 120,000 tons of Lignite and 170,000 tons of Bituminous coal. Leadership wants to minimize the operating costs of the mining fields. Assuming A and B represent number of days Field A and Field B operates respectively. Which equation indicates constraint on the capacity of the Bituminous coal?
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<u>Solution and Explanation:</u>
The following journal entries will be passed in the book sof fasteners Inc., Co., which is a supplier of buttons and zippers for clothing
Date Accounts Titles and Explanation Post Ref Debit Credit
1 Nov-21 Notes receivable $ 72,000
Accounts receivable-McKenna Outer Wear Co. $ 72,000
2 Dec-31 Interest receivable $720
Interest revenue $ 320
3 Jan-20 Cash $ 73080
Interest revenue $360
Interest receivable $720
Notes receivable $72,000
Note: the figures have been calculated and rounded off in the nearest dollar amount.