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Alex_Xolod [135]
3 years ago
7

The Hartford Symphony Guild is planning its annual dinner-dance. The dinner-dance committee has assembled the following expected

costs for the event: Dinner (per person) $14 Favors and program (per person) $7 Band $1,800 Rental of ballroom $1,100 Professional entertainment during intermission $2,000 Tickets and advertising $700 The committee members would like to charge $49 per person for the evening’s activities. Required: 1. Compute the break-even point for the dinner-dance (in terms of the number of persons who must attend).
Business
1 answer:
Bas_tet [7]3 years ago
5 0

Answer:

$200 persons

Explanation:

Total variable cost per person:

= Dinner (per person) + Favors and program (per person)

= $14 + $7

= $21

Total fixed cost:

= Band + Rental of ballroom + professional entertainment during intermission + Tickets and advertising

= $1,800 + $1,100 + $2,000 + $700

= $5,600

Price = $49

Contribution = Price - Total variable cost per person

                    = $49 - $21

                    = $28

1. Break-even point for the dinner-dance:

= Total fixed cost ÷ Contribution margin per unit

= $5,600 ÷ $28

= $200 persons

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Answer :

Some answers are attached below

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Pattern Number 3-ft boards 4-ft boards 5-ft boards Waste (<3-ft)

1                      3                   0                     0                       1                                                                        

2                                2                 1                          0                      0

3                             1                    0                           1                       2            

4                                 0                     1                          1                        1

5                           0                      2                           0                       2                  

6                      0                     0                            2                     0      

b) ILP Formulation

Objective Function

Minimize Number of 10 ft-boards to be cut

Z = x1+x2+x3+x4+x5+x6 where xi is the number of boards for pattern i

subject to constraints -

3x1+2x2+x3>=90 ----> 3-ft boards

x2+x4+2x5>=60 ----->4-ft boards

x3+x4+2x6>=60 ----->5-ft boards

Xi>=0 ---->Non-negativity constraint

Below is the excel solver formulation and solution -

The optimal number of Pattern 1,5,6 =0, Pattern 2,3 and 4 = 30

The minimum number of 10 ft-boards to be cut = 90

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