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- Assume the demand for a companys drug Wozac during the current year is 50,000, and assume demand will grow at 5% a year. If the company builds a plant that can produce x units of Wozac per year, it will cost 16x. Each unit of Wozac is sold for 3. Each unit of Wozac produced incurs a variable production cost of 0.20. It costs 0.40 per year to operate a unit of capacity. Determine how large a Wozac plant the company should build to maximize its expected profit over the next 10 years.A company possesses two manufacturing plants, each of which can produce three products, X, Y, and Z, from a common raw material. However, the proportion in which the products are produced differs in each plant, and so are plant's operating costs per hour. Data on production per hour and costs are given below, together with current orders in hand of each product. Products Operating cost per hour Y Plant A 4 9. Plant B 4 2 10 Orders on hand 50 24 60 Formulate the above as a linear programming problem. Find the number of production hours needed to fulfill the orders on hand at minimum cost using the using Big M method.You have been hired by Kia as manager for its Pakistan operations. Assume following is the short-run production function at their assembly plant outside Karachi: Q = 10L2 – 0.5 L3 where L is variable input labor, Q is output of Cars assembled a. At the end of the year it is expected that output will double with purchase ofnew equipment and machinery. The production function is estimated to be Q = 60L.30K.70 where L is labor and K is capital. Suppose initial L1 = 1 and K1 = 1. When inputs are in increased to L2 = 2 and K2 = 2, do you observe increasing, decreasing or constant returns to scale? b. Assume Kia Head Office is considering hiring more laborers either at their Gwadar plant or alternatively at the Karachi plant. What will be your advice if workers’ marginal product is 40 at wage of Rs=5/hour in Karachi and marginal product is 28 at wage of Rs=4/hour in Gawdar?
- Because of its labor contract, a company must hire enough labor for 100 units ofproduction per week on one shift or 200 units per week on two shifts. It cannot hire,lay off, or assign overtime. During the fourth week, workers will be available fromanother department to work part or all of an extra shift (up to 100 units). There is aplanned shutdown for maintenance in the second week, which will cut production tohalf. Develop a production plan. The opening inventory is 200 units, and the desiredending inventory is 300 unitsDana’s Ribbon World makes award rosettes. Following is information about the company: Variable cost per rosette $ 2.00 Sales price per rosette $ 6.00 Total fixed costs per month $ 6000.00 Required: 1. Suppose Dana’s would like to generate a profit of $1,120. Determine how many rosettes it must sell to achieve this target profit. 2. If Dana’s sells 2,140 rosettes, compute its margin of safety in units, in sales dollars, and as a percentage of sales. 3. Calculate Dana’s degree of operating leverage if it sells 2,140 rosettes. 4a. Using the degree of operating leverage, calculate the change in Dana’s profit if unit sales drop to 1,819 units. 4b. Prepare a new contribution margin income statement to verify change in dana's profit.A company produces two products: A and B. Prod-uct A sells for $11 per unit and product B sells for $23 per unit. Producing a unit of product A requires two hours on assembly line 1 and one unit of raw ma-terial. Producing a unit of product B requires two units of raw material, one unit of A, and two hours on as-sembly line 2. On line 1, 1300 hours of time are avail-able, and 500 hours are available on line 2. A unit of raw material can be bought (for $5 a unit) or produced(at no cost) by using two hours of time on line 1.a. Determine how to maximize profit.b. The company will stop buying raw material whenthe price of raw material exceeds what value? (UseSolverTable.)
- Production and Materials Purchases Budgets White Corporation’s budget calls for the following sales for next year:Quarter 1 90,000 units Quarter 3 68,000 unitsQuarter 2 76,000 units Quarter 4 96,000 unitsEach unit of the product requires 3 pounds of direct materials. The company’s policy is to begineach quarter with an inventory of product equal to 5% of that quarter’s estimated sales requirementsand an inventory of direct materials equal to 20% of that quarter’s estimated direct materials requirements for production.Required Determine the production and materials purchases budgets for the second quarter.The world's oceans contain on average of 0.9 oz of Au /ton of ocean water. There were 2 proposed novel process in mineral extraction to recover the Au and they were compared using Engineering Economic Analysis. Process X costs $600/ton of ocean water processed and a recovery of 90%, while Process Z costs $450/ton and a recovery of 60%. Both processes will need the same amount of capital investment and equal ounces of Au extracted daily. If the Au today is $2,200/oz, which process is more feasible considering the fact that the world's ocean can be inexhaustible? This problem requires the analysis to be on the basis of profit per ounce of Au extracted.Solve the following problem with Excel Solver: (Leave no cells blank be certain to enter "0" wherever required. Do not round intermediate calculations. Round your answers to 2 decimal places.) Maximize Z= 3X+17Y 3X+8Ys 74 3X+11Y ≤ 78 Y s 35 Decision for X Decision for Y Total profit Resource A Resource B Resource C Resources Used Resource A Resource B Resource C
- Mukukulu Co uses a variance analysis system to monitor its performance. In a certain month the following data applies: – 1·4 tonnes of Raw material are needed at a cost of K60 per tonne – It takes 2 labour hours of work to produce 1 tonne of finished product and labour is normally paid K18 per hour. Idle time is expected to be 10% of hours paid; this is not reflected in the rate of K18 above. – 2 hours of variable overhead at a cost of K30 per hour – The standard selling price is K240 per tonne Budget information for the month is – Fixed costs were budgeted at K210,000 for the month – Budgeted production and sales were 8,400 tonnes The actual results for the month were as follows: Actual production and sales were 8,000 tonnes – 12,000 tonnes of raw material were bought and used, costing K660,000 – 15,800 labour hours were paid for, costing K303,360 – 15,000 labour hours were worked – Variable production overhead cost K480,000 – Fixed costs were K200,000 – Sales revenue achieved was…Can you help me with these three review questions A sports manufacturer produces skateboards and rollerblades. The same wheels are used for both products. For the next week, the master production schedule for skateboards shows a need for 147 units, while the master production schedule for rollerblades shows a need of 149 pairs. 4 wheels are required to manufacture a skateboard, and 8 wheels are required to manufacture one pair of rollerblades. What are the gross requirements for wheels to meet the requirements on the master production schedules for the next week?A manufacturing company makes two types of water skis, a trick ski and a slalom ski. The relevant manufacturing data are given in the table. Labor-Hours per Ski Maximum Labor-Hours Available per Day 384 36 Department Fabricating Finishing Trick Ski 12 1 Slalom Ski 8 1 If the profit on a trick ski is $50 and the profit on a slalom ski is $30, how many of each type of ski should be manufactured each day to realize maximum profit? What is the maximum profit? The maximum profit is $. The maximum occurs when trick skis and slalom skis are produced.