A farmer in the Midwest has 1,000 acres of land on which she intends to plant corn, wheat, and soybeans. Each acre of corn costs $100 for preparation, requires 7 worker-days of labor, and yields a profit of $30. An acre of wheat costs $120 to prepare, requires 10 worker-days of labor, and yields $40 profit. An acre of soybeans costs $70 to prepare, requires 8 worker-days, and yields $20 profit. The farmer has taken out a loan of $80,000 for crop preparation and has contracted with a union for 6,000 worker-days of labor. A midwestern granary has agreed to purchase 200 acres of corn, 500 acres of wheat, and 300 acres of soybeans. The farmer has established the following goals, in order of their importance:
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- 2.28 A foundry produces castings to order. An order for 20 special castings has been re- ceived. Since the casting process is highly variable, not all castings produced are good. The cost of producing each casting is $550; the additional cost of finishing a good casting is $125. If a casting is not good, it is recycled at a value of $75; excess good castings are not finished but are recycled at a value of $75. The customer has agreed to accept 15, 16, 17, 18, 19, or 20 castings at a price of $1250 each. If fewer than 15 good castings are produced, none will be purchased by the customer. Prob- ability distributions for the number of good castings produced in a batch of varying sizes are given below. How many castings should be scheduled in order to maximize expected profit? #Good Castings 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 79 2 PRODUCT, PROCESS, AND SCHEDULE DESIGN Number of Castings Scheduled 15 16 17 0.05 0.00 0.00 0.00 0.00 0.00 0.05 0.05 0.00…At a small but growing airport, the local airline company is purchasing a new tractor for a tractor-trailer train to bring luggage to and from the airplanes. A new mechanized luggage system will be installed in 3 years, so the tractor will not be needed after that. However, because it will receive heavy use, so that the running and maintenance costs will increase rapidly as the tractor ages, it may still be more economical to replace the tractor after 1 or 2 years. The following table gives the total net discounted cost associated with purchasing a tractor (purchase price minus trade-in allowance, plus running and maintenance costs) at the end of year i and trading it in at the end of year j (where year O is now). i 012 1 $13,000 j 2 $28,000 $17,000 3 $48,000 $33,000 $20,000 The problem is to determine at what times (if any) the tractor should be replaced to minimize the total cost for the tractors over 3 years. (a) Formulate this problem as a minimum cost flow problem by showing the…At a small but growing airport, the local airline company is purchasing a new tractor for a tractor-trailer train to bring luggage to and from the airplanes. A new mechanized luggage system will be installed in 3 years, so the tractor will not be needed after that. However, because it will receive heavy use, so that the running and maintenance costs will increase rapidly as the tractor ages, it may still be more economical to replace the tractor after 1 or 2 years. The following table gives the total net discounted cost associated with purchasing a tractor (purchase price minus trade-in allowance, plus running and maintenance costs) at the end of year i and trading it in at the end of year j (where year O is now). i B 012 1 $13,000 j 2 $28,000 $17,000 3 $48,000 $33,000 $20,000 The problem is to determine at what times (if any) the tractor should be replaced to minimize the total cost for the tractors over 3 years. (a) Formulate this problem as a shortest-path problem by drawing a…
- 4) The making of rivet holes in structural steel members can be done by 2 methods. The first method consists of laying out the position of the holes in the members and using a drill press costing P100k. The machinist is paid P60 per hour and he can drill 80 holes per hour. The second method makes use of a multiple-punch machine costing P80k. The punch operator is paid P40 an hour and he can punch out 1 hole for 3 seconds. This method also requires an expense of P1.25 per hole to set the machine. (a) if all other costs are assumed equal, what is the total cost for each machine for 10k holes, assuming the total cost of each machine to be charged to these holes? (b) for how many holes will the costs be equal?Manny signs a variable lease. He pays $10/ square foot. His index is 2.His utilities will cost $350.If his index goes up to 2.5 next year, how much will Manny payin rent? $25/square foot $12.50/square foot $8/square foot $50/square foot |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.
- SIMPLEX METHOD A factory makes tennis rackets and cricket bats. A tennis racket takes 1.5 hours of machine time and 3 hours of craftsman’s time in its making while a cricket bat takes 3 hour of machine time and 1 hour of craftsman’s time. In a day, the factory has the availability of not more than 42 hours of machine time and 24 hours of craftsman’s time. If the profit on a racket and on a bat is Php 20.00 and Php 10.00 respectively, find the maximum profit of the factory when it works at full capacity.You are asked to help your boss deciding who is considering whether to make or buy a part fora top most demanding product of the company.Your company can make the component for $40 per unit or buy it for $50 per unit from vendor.If the Company decides to make the component, it will require 4 hours of machine time tomake each part. The company has 2,000 hours of machine time available per month. Shouldthe company make or buy the component? How many max parts company can make?________________________________________________________________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 units
- A company manufactures iron cutting machines. Investment amount made with respect to the machine It is 800 thousand TL. Energy costs will increase by 50 thousand and 6% each year. Personnel expenses 35 thousand and it increases by 15 thousand every year, on the other hand, financing expenses are 100 thousand TL and 20% each year will increase by the rate. Since it is planned to manufacture 250 machines per year, 12 years of life and For this manufacturing with 30% capital cost, the company will calculate how many TL in total for the machines manufactured each year. one has to charge an expense and what will be the expense per unit. Note: Solve according to the annual equivalent cost method.An airline studied the data from their passenger records and noted that their customers turn up only about 95% of the time. A flight can accommodate 40 passengers and each seat costs 4,000 Php. Suppose each passenger books a ticket independently and the airline decides to sell 42 tickets for the flight. If more than 40 show up for the flight , then the extra passengers will be compensated PhP10,000 for rebooking and other expenses. 5. If Profit = Ticket sales-Compensation of Bumped passenger(s). What is the profit if 42 customers show up?. A 100 cu.m. pit is to be excavated using a hydraulic excavator with a rate of 7.1 cu.m. per hour. The rental price of the hydraulic excavator is P12,600.00 per day. If the excavator is used 8 hours per day, determine the equipment cost to finish the excavation work. 18-21. The material cost of a certain scope of work has a total of P250,500.00. Determine the number of days to finish the work if they are using 3 tools that has a rental price of P760.00 per day each. Use (Labor Cost + Equipment Cost)/Material Cost = 30% Workers Salary per day P1050.00 P650.00 P480.00 P320.00 Project Engineer Foreman 2 Skilled Laborer 3 Laborer