Sandy's Sauces, which produces stir-fry sauces, is developing direct material standards. Each bottle of sauce requires 0.79 kilo
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A new income statement for August for Swift company is shown below.
Also, since the president has asked you to check over the income statement and make a recommendation as to whether the company should look for a buyer for its assets.
My recommendation would be to not buy.
Swift Company
Income Statement
For the Month Ended August 31
Particulars Amount (in $) Amount (in $)
Sales .............................................................. 450,000
Cost of goods sold:
Finished goods inventory, August 1 ............... 40,000
Add: Cost of goods manufactured ................. <u>310,000 </u>
Goods available for sale ................................ 350,000
Deduct: Finished goods inventory, August 31..<u> 60,000</u> <u> 290,000 </u>
Gross margin .................................................. 160,000
Selling and administrative expenses ................. <u>142,000</u>
Net operating income...................................... 18,000
Sam failed to distinguish between product costs and period costs when preparing the August income statement, and he also failed to recognize changes in inventories between the beginning and end of the month.
Once these errors are corrected, the company's financial situation looks much better, and selling the company may not be a good idea.
Hence, my recommendation would be not to buy.
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Answer:
a.
Look at the two attached figures please. The decision variables is the choice to build a fire station in which city.
So there are six decision variables each taking a value of either 0 or 1.
D1 = decision to build fire station in city 1, (1 denotes yes and 0 denotes no)
D2 = decision to build fire station in city 2, (1 denotes yes and 0 denotes no)
D3 = decision to build fire station in city 3, (1 denotes yes and 0 denotes no)
D4 = decision to build fire station in city 4, (1 denotes yes and 0 denotes no)
D5 = decision to build fire station in city 5, (1 denotes yes and 0 denotes no)
D6 = decision to build fire station in city 6, (1 denotes yes and 0 denotes no)
b.
Please look at attachment
C .
The figure 1 denotes the problem formulation in excel and shows all the formulas.
In first step, a matrix is prepared to denote all cities which are within 15 minutes by 1 and others by zero
A array of decision variables for selecting the city is shown. A 1 in cell implies that city is selected and 0 means the city is not selected.
A product of the selection variable and the value in the within 15 minutes matrix is calculated as shown by the formula.
The constraint is to ensure that all cities have at least one fire station mapped within 15 minutes.
d.
The problem is solved in Excel using integer programming and the solution is that City 2 and 4 should be selected for building fire stations and thus total no of fire stations are two with every city within 15 minutes.
Explanation:
