A production manager wants to determine how many units of each product to produce weekly to maximize weekly profits. Production requirements for the products are shown in the following table. Product Material 1 (lbs.) Material 2 (lbs.) 3 1 5 4 none Labor (hours) 2 3.5 Material 1 costs $7 a pound, material 2 costs $5 a pound, and labor costs $15 per hour. Product A sells for $101 a unit, product B sells for 567 a unit, and product C sells for $97.50 a unit. Each week there are 300 pounds of material 1; 400 pounds of material 2; and 200 hours of labor. Also, there is a weekly demand of 10 units of product C each week.
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- c. Compute and tabulate the daily demand for each month in the table below (round off to the nearest whole number). MONTH PRODUCTION DAYS DEMAND FORECAST DEMAND PER DAY JAN 2022 16 150 ? FEB 2022 16 150 ? MAR 2022 23 250 ? APR 2022 21 250 ? MAY 2022 22 400 ? JUN 2022 22 500 ? JUL 2022 21 600 ? AUG 2022 20 750 ? SEP 2022 20 450 ? OCT 2022 20 250 ? NOV 2022 16 150 ? DEC 2022 16 150 ? TOTAL ? ? d. Assuming that MPQ Limited had adopted a level strategy for the year ended 31 December 2022, compute the average daily demand for the year (round off to the nearest whole number). e. Prepare a graph showing the monthly forecasts and average daily forecast (in units per day) for MPQ Limited.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 72013. The Bi-Product Company produces two products (A and B) that are similar in terms of labor con- tent and skills required. Company management wishes to "level" the number of employees needed each day so no hiring or layoffs will be required during the year. A complication to this problem is that the number of working days in each quarter varies. Demand Quarter Product A Product B Working Days 1 9,800 14,500 68 2 12,000 30,000 56 3 14,000 19,500 62 4 31,000 25,000 58 Beginning inventory: 2,400 units of Product A 900 units of Product B Inventory holding cost: $10 per unit per quarter (either product) No back orders allowed No variations in size of workforce allowed Output rate=25 units of either product per day per employee a. What daily production rate will be required to meet the demand forecast and yield zero in- ventory at the end of quarter 4? b. How many employees will be required each day? What are the inventory levels each quarter?
- 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…Q1) A retail. Store stocks two types of shirts A and B. These are packed in attractive cardboard boxes. During a week the store can sell a maximum of 400 shirts of type A and a maximum of 300 shirts of type B. The storage capacity, however, is limited to a maximum of 600 of both types combined. Type A shirt fetches a profit of SR 2/- per unit and type B a profit of SR. 5/- per unit. (b) Find the optimal solution (How many of each type) that store should stock per week to maximize the total profit. Use Graphical Method.53. Following figures are related to LM Ltd. for the yer ending March 31, 2014. Sales 24000 units @ 200 per unit P/V ratio-25%; BEP 50% of sales. You are required to: calculate fixed cost per year; profit earned for the year; units to be sold to earn a target profit of Rs. 11,00,000 for the year; no. of units to be sold to earn the net income of 25% on cost; SP per unit, if BEP is to be brought down by 4000 units. 13
- 12 Assuming there is no change in a product's price or the quantity demanded, if a business owner wants to increase her advertising expenses by $500 monthly, ut of this would cause total costs to and the break-even quantity to question Select one: O a. stay the same; increase. O b. increase; increase. O c. decrease; increase. O d. stay the same; decrease. O. e. decrease; stay the same. car wash pays $2.500 in rent, $500 inOld Pueblo Engineering Contractors creates six-month “rolling” schedules, which are recomputed monthly. For competitive reasons (it would need to divulge proprietary design criteria, methods, and so on), Old Pueblo does not subcontract. Therefore, its only options to meet customer requirements are (1) work on regular time; (2) work on overtime, which is limited to 30 percent of regular time; (3) do customers’ work early, which would costan additional $5 per hour per month; and (4) perform customers’ work late, which would cost an additional $10 per hour per month penalty, as provided by their contract. Old Pueblo has 25 engineers on its staff at an hourly rate of $30. The overtime rate is $45. Customers’ hourly requirements for the six months from January to June are January 5000 February 4000 March 6000 April 6000 May 5000 June 4000 Develop an aggregate plan using a spreadsheet. Assume 20 working days in each month. 12. Alan Industries is expanding its product line to include three…1. Foxie Owl’s Besty Bagel shop makes fresh bagels. She has to buy raw materials fresh every day for selling on that day. She wants to know exactly how much should she spend on raw materials. Foxie did some analysis over the past month and came back with the following numbers: Daily demand was equally likely to be 200, 225, 250, 275, or 300 bagels. What should be the number of bagels on hand to satisfy a Fill Rate requirement of 96%, rounded to next integer value? Group of answer choices 300 275 286 263 2. Suppose that instead of a discrete demand distribution, Foxie’s shop determines that the daily demand for bagels is normally distributed, with a mean of 250 and a standard deviation of 35. Foxie still wants a Fill Rate of 98%. What is the appropriate level of on-hand inventory for Foxie’s shop? Group of answer choices 263 274 257 270
- 2. The idea of assigning numerical values to determine a preference ordering over a set of ob- jects is not limited in application to commodity bundles. The Bill James Baseball Abstract argues that a baseball player's batting average is not an adequate measure of his offensive productivity. Batting averages treat singles just the same as extra base hits. Furthermore they do not give credit for "walks," although a walk is almost as good as a single. James argues that a double in two at-bats is better than a single, but not as good as two singles. To reflect these considerations, James proposes the following index, which he calls "runs created." Let A be the number of hits plus the number of walks that a batter gets in a season. Let B be the number of total bases that the batter gets in the season. (Thus, if a batter has S singles, W walks, D doubles, T triples, and H home runs, then A= S + D + T + H+W and B = S +W +2D +3T +4H.) Let N be the number of times the batter bats. Then his…5) period. MARR is 10% per year compounded annually. Maintenance costs for a bridge are cyclic with the following costs occurring over a 5-year ΕΟΥ 2 3 4 5 Maintenance $50 million S75 million $75 million $75 million $150 million Cost a) b) capıtalized cost (worth) of the maintenance costs. Compute an equivalent uniform annual cost over a single 5-year maintenance cycle. It is anticipated that the sequence of costs will repeat every 5 years forever. If so, determine the11. Shown below are the planning period's demand and the standard hours required for four products from a company's sales and operations plan. Assume that the company has 65,000 hours of labor available during the planning period, and determine whether the sales and operations plan is feasible. Product Units Demanded Standard Hours (in hours/unit) A 32,500 0.60 B 23,000 0.80 0 40,000 0.20 D 15,000 1.15