Answer:
They should operate Mine 1 for 1 hour and Mine 2 for 3 hours to meet the contractual obligations and minimize cost.
Explanation:
The formulation of the linear programming is:
Objective function:
Restrictions:
- High-grade ore: 
- Medium-grade ore: 
- Low-grade ore: 
- No negative hours: 
We start graphing the restrictions in a M1-M2 plane.
In the figure attached, we have the feasible region, where all the restrictions are validated, and the four points of intersection of 2 restrictions.
In one of this four points lies the minimum cost.
Graphically, we can graph the cost function over this feasible region, with different cost levels. When the line cost intersects one of the four points with the lowest level of cost, this is the optimum combination.
(NOTE: it is best to start with a low guessing of the cost and going up until it reaches one point in the feasible region).
The solution is for the point (M1=1, M2=3), with a cost of C=$680.
The cost function graph is attached.
The answer to the question is Semiannually
This means that a final Incident Response plan should be tested a minimum of two times every year by performing a structured walk-through test at least, and when possible, perform a more realistic type of test.
These firms do not have perfect market information to know all the price charges by different sellers,the quality the market demand and supply is etc.
Answer:
128,000 units
Explanation:
The calculation of the equivalent units of production using the weighted average method is given below:
= Total units of finished goods × completion percentage + ending work in process units × completion percentage
= 107,000 units × 100% + 42,000 units × 50%
= 107,000 units + 21,000 units
= 128,000 units
Hence, the equivalent units of production of direct labor is 128,000 units.
Answer:
d) $5 million.
Explanation:
The amount that should appear on the year-end financial statement should be the most probable estimate. In this case, $5 million is the most probable because this is deduced from past experience, while $2 million is a practice that should be reviewed in the light of new information.
