Q5: A machine shop makes two products A and B. product A can be made with two options A1, and A2, while product B is available in three options B1, using an appropriate combination of three machines which can be used in any order. The production contract requires that 60 units of item A and 85 units of item 8 to be produced per week. The situation is summed in the table below. Formulate to maximize the profit. Product A Options A1 A2 B1 B2 B3 Machine average time hr/week B Unit production time on machine no. (hr) Mach.2 Mach.3 0.2 0.2 Mach.1 0.5 0.4 0.4 - 38 0.4 0.3 0.6 31 0.3 0.3 34 Profit S 2 2.5 5 4 4
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- Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. As the Marketing Manager for Southeastern Corrugated, what would you do upon receiving the request for quotation from Coastal Products?Q4) A manufacturer provides specialized microchips. During the next 3 months its sales, costs, and available time are shown in the table. Month 1 Month 2 Month 3 There are no chips in stock at the beginning of the first month. It takes 1.5 hr of production time to produce a chip and costs $5 to store a chip from one month to the next. Determine a production schedule that meets the demand requirements, does not exceed the monthly production time limitations, and minimizes cost. Note that no chips should be in stock at the end of the 3 months. Use fmincon. Chips required Cost regular time ($/chip) Cost overtime ($/chip) Regular operation time (hr) Overtime (hr) 1000 100 110 2500 100 120 2200 120 130 2400 2400 720 2400 720 720Q. Radhuni, a traditional bangla restaurant, incurs the following costs:a. Cost of children’s toys given away free with kids’ mealsb. Cost of the posters indicating the special “two dishes for $2.50”c. Costs of frozen onion rings and Fishesd. Salaries of the food specialists who create new Biriyani for the restaurant chaine. Cost of “to-go” bags requested by customers who could not finish their meals in therestaurantRequired: Just Classify each of the cost items (a–e) as one of the business functions of the value chain
- Franklin Company makes fine jewelry that it sells to department stores throughout the United States. Franklin is trying to decide which of the two bracelets to manufacture. Cost data pertaining to the two choices follow. Bracelet A Bracelet B Cost of materials per unit Cost of labor per unit Advertising cost per year Annual depreciation on existing equipment %24 30 37 43 43 8,800 6,500 7,700 5,900 Required a. Identify the fixed costs and determine the amount of fixed cost for each product. b. Identify the variable costs and determine the amount of variable cost per unit for each product. c. Identify the avoidable costs and determine the amount of avoidable cost for each product.Demand for stereo headphones and MP3 players for joggers has caused Nina Industries to grow almost 50 percent over the past year. The number of joggers continues to expand, so Nina expects demand for headsets to also expand, because, as yet, no safety laws have been passed to prevent joggers from wearing them. Demand for the players for last year was as follows: MONTH DEMAND (UNITS) January February 4,100 4,200 March 3,900 April 4,300 May 4,900 June 4,600 July 5,200 August 4,800 September 5,300 October 5,600 November 6,200 December 5,900Q1:A/ The Office Supplies Company offers two types of pens, the first type has high specifications, while the second type has normal specifications. The expected profit from selling each unit of the first type is half a dollar, and from selling each unit of the second type is a quarter of a dollar. The time taken to manufacture the first type is twice the time taken to manufacture the second type for the purpose of producing no more than 1,000 pens of both types per week. The company can produce at most 400 units of the first type per week, and it can produce no more than 700 units of the second type per week. Note that the company can produce each of them separately. Required: Create the linear programming model to find the optimal production mix so that the company achieves the maximum possible profit.
- Demand for stereo headphones and MP3 players for joggers has caused Nina Industries to grow almost 50 percent over the past year. The number of joggers continues to expand, so Nina expects demand for headsets to also expand, because, as yet, no safety laws have been passed to prevent joggers from wearing them. Demand for the players for last year was as follows: MONTH DEMAND (UNITS) January 4,240 February 4,340 March 4,040 April 4,440 May 5,040 June 4,740 July 5,340 August 4,940 September 5,440 October 5,740 November 6,335 December 6,030 a. Using linear regression analysis, what would you estimate demand to be for each month next year? (Do not round intermediate calculations. Round your answers to 2 decimal places.) b. To be reasonably confident of meeting demand, Nina decides to use 4 standard errors of estimate for safety. How many additional units should be held to meet this level of confidence? (Do not round intermediate calculations. Round…Demand for stereo headphones and MP3 players for joggers has caused Nina Industries to grow almost 50 percent over the past year. The number of joggers continues to expand, so Nina expects demand for headsets to also expand, because, as yet, no safety laws have been passed to prevent joggers from wearing them. Demand for the players for last year was as follows: MONTH DEMAND (UNITS) January 4,000 February 4,100 March 3,800 April 4,200 May 4,850 June 4,500 July 5,150 August 4,750 September 5,250 October 5,550 November 6,150 December 5,850 a. Using linear regression analysis, what would you estimate demand to be for each month next year? Using a spreadsheet, follow the general format in Exhibit 3.7. (picture below)(Do not round intermediate calculations. Round your answers to 2 decimal places.) Month Forecast january february march april may june july august september october november decemberDemand for stereo headphones and MP3 players for joggers has caused Nina Industries to grow almost 50 percent over the past year. The number of joggers continues to expand, so Nina expects demand for headsets to also expand, because yet, no safety laws have been passed to prevent joggers from wearing them. Demand for the players for last year was as follows: MONTH DEMAND (UNITS) January 4,220 February 4,320 March 4,020 April 4,420 May 5,020 June 4,720 July 5,320 August 4,920 September 5,420 October 5,720 November 6,320 December 6,020 Using linear regression analysis, what would you estimate demand to be for each month next year? (Round two decimal places) To be reasonably confident of meeting demand, Nina decides to use 3 standard errors of estimate for safety. How many additional units…
- Demand for stereo headphones and MP3 players for joggers has caused Nina Industries to grow almost 50 percent over the past year. The number of joggers continues to expand, so Nina expects demand for headsets to also expand, because, as yet, no safety laws have been passed to prevent joggers from wearing them. Demand for the players for last year was as follows: MONTH DEMAND (UNITS) January 4,000 February 4,100 March 3,800 April 4,200 May 4,850 June 4,500 July 5,150 August 4,750 September 5,250 October 5,550 November 6,150 December 5,850 a. Using linear regression analysis, what would you estimate demand to be for each month next year? Using a spreadsheet, follow the general format in Exhibit 3.7. (picture below)(Do not round intermediate calculations. Round your answers to 2 decimal places.) Month Forecast january february march april may june july august september october november december b. To…Demand for stereo headphones and music players for joggers has caused Nina Industries to grow almost 50 percent over the past year. The number of joggers continues to expand, so Nina expects demand for headsets to also expand, because, as yet, no safety laws have been passed to prevent joggers from wearing them. Demand for the players for this year was as follows: MONTH DEMAND (UNITS) January 4,150 February 4,250 March 3,950 April 4,350 May 4,950 June 4,650 July 5,250 August 4,850 September 5,350 October 5,650 November 6,250 December 5,950 a. Using linear regression analysis, what would you estimate demand to be for each month next year? Using a spreadsheet, follow the general format in Exhibit 3.8. (Do not round intermediate calculations. Round your answers to 2 decimal places.) b. To be reasonably confident of meeting demand, Nina decides to use 3 standard errors of estimate for safety. How many additional units should be held to meet this…A manufactures the chairs. Manufacturing costs are expected to be £120 per chair, consisting of 70% variable costs and 30% fixed costs. The company has surplus capacity available. A's policy is to add a 60% profit margin to full costs. A large restaurants chain is going to replace the chairs in all branches. A is invited to submit a bid to the restaurant's chain. What is the lowest price per chair. A should bid on this long-term order? 1. £24,000 2. £14,400 3. £16,800 4. £38,400
