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- Choose the correct letter of answer If your objective is to maximize the profit for products x and y which earns a contribution margin of P2 and P3 respectively, your objective function must be: *a. P = 3x + 2yb. P = 2x + 3yc. P = x + y d. none of the aboveI need assistance with Chapter 15 Problem 7. I keep getting an it incorrecrt despite calculating the sum and dividing everything by the quanitity. Thank youAs a potential owner of a club known as Club Salida, you are interested in determining the necessary volume of sales in dollars to reach the breakeven next year. You decided to break down the club's sales into. four categories, where beer is the first. Your estimate of the sale of beer is that it will serve 30,000 servings. The selling price per unit will average $ 1.50; its cost is $ .75. The second category is food, of which you expect sell 10,000 units with an average unit price of $ 10.00 and a cost of $ 5.00. The third category is desserts and wine, of which you also hope to sell 10,000 units, but with an average unit price of $ 2.50 and a cost of $ 1.00. The last category is inexpensive lunches and sandwiches, of which you expect sell a total of 20,000 units with an average price of $ 6.75 and a cost per unit of $ 3.25. Your fixed costs (i.e. rent, utilities, etc.) are $ 1,800 a month plus $ 2,000 a month for entertainment. a) What is your breakeven point in dollars per month? b)…
- Mary hopes to sell 10,000 pieces of chrysanthemum last November but she was able to sell 15,000 chrysanthemum. Her chrysanthemum is sold at 20 pesos each. Her total expenses was 150,000, hence, cost per unit is 15.00. What was her sales volume variance? *25,00075,00015,000100,000 Mary hopes to sell 10,000 pieces of chrysanthemum last November but she was able to sell 15,000 chrysanthemum. Her chrysanthemum is sold at 20 pesos each. Her total expenses was 150,000, hence, cost per unit is 15.00. What was her sales volume variance? *25,00075,00015,000100,000An analyst has started preparing a spreadsheet as shown below. Column A contains the headings for various parameters and Column B contains the analyst's range names to be used in Excel. A B 1 Price per Unit 2 Cost per Unit 3 Profit per Unit PricePerUnit Cost_Per_Unit Profit per Unit 4 5 Fixed Costs Fixed_Costs 6 Variable Costs Variable Costs Label each of the following range names as "Correct" if is a valid range name in Excel or "Incorrect" if the range name is not valid for use in Excel. Proposed Range Name PricePerUnit Cost Per_Unit Profit per Unit Fixed_Costs Variable CostsCreate a spreadsheet to calculate your projected total costs, total revenues, and total profits for giving a seminar on cost estimating. Make the following assumptions: You will charge $600 per person for a two-day class. You estimate that 30 people will attend the class, but you want to change this input. Your fixed costs include $500 total to rent a room for both days, setup fees of $400 for registration, and $300 for designing a postcard for advertising. Youwill not include your labor costs for this estimate, but you estimate that you will spend at least 150 hours developing materials, managing the project, and giving the actual class. You would like to know what your time is worth given different scenarios. Youwill order 5,000 postcards, mail 4,000, and distribute the rest to friends and colleagues. Yourvariable costs include the following: $5perperson for registration plus 4 percent of the class fee per person to handle credit card processing; assume that everyone pays…
- Please do not give solution in image formate thanku. Develop a production plan and calculate the annual cost for a firm whose demand forecast is fall, 10,000; winter, 8,000; spring, 7,000; summer, 12,000. Inventory at the beginning of fall is 500 units. At the beginning of fall, you currently have 30 workers, but you plan to hire temporary workers at the beginning of summer and lay them off at the end of summer. In addition, you have negotiated with the union an option to use the regular workforce on overtime during winter or spring if overtime is necessary to prevent stock outs at the end of those quarters. Overtime is not available during the fall. Relevant costs are hiring, $100 for each temp; layoff, $200 for each worker laid off; inventory holding, $5 per unit-quarter; backorder, $10 per unit; straight time, $5 per hour; overtime, $8 per hour. Assume that the productivity is 0.5 unit per worker hour, with eight hours per day and 60 days per season.You work for the Brad's Nailer Company which manufactures two types of nailers: a pneumatic model and a cordless model. You have contracted to supply a national retail chain with both pneumatic nailers and cordless nailers. However, Brad's nailer production capability is limited in three departments: production, testing, and packaging. Your answer will be the production hours needed to execute your production plan - rounded to the nearest whole hour. (The number of nailers may not be a whole number, which is acceptable in this chapter.) Use Scenario 1 Pneum. Cost Pneum. Prod Hrs Pneum. Test Hrs Pneum. Pkg Hrs Pneum. Sales Cordless Cost Cordless Prod Hrs Cordless Test Hrs Cordless Pkg Hrs Cordless Sales Prod Hrs max Testing Hrs max Pkg Hrs max Scenario 1 52 0.2 0.3 0.1 22,000 67 0.3 0.4 0.1 15,500 10,000 15,000 4,800 Scenario 2 55.50 0.4 0.3 0.1 24,500 69.75 0.3 0.5 0.1 15,500 20,000 18,000 4,200 Scenario 3 38.50 0.25 0.4 0.1 18,000 44 0.4 0.4 0.2 14,000 20,000 18,000 5,000A package holiday company is about to block book hotel rooms for the coming season. The number of holidays actually booked is equally likely to be any number between 0 and 99 (for simplicity rather than reality). Each room booked costs the company $250 and they can sell them for $350. a) How many rooms should the company book if unsold rooms have no value? b) How many rooms should it book if unsold rooms can be sold as last-minute bookings for $100 each?
- You create your own start-up company that supply bowl directly to a number of customers. You receive a number of tentative orders and you now have to tell your customers which orders you are going to take. Before embarking on this journey, you first want to allocate your production capabilities in order to devise a feasible daily production plan that maximizes your profit.There are only three different grades of bowls that you order at this early stage of the company: Bowl #1, Bowl #2 and Bowl #3.Each type of bowl has to be processed, packaged and delivered. Each operation is run by yourself. Since your company only operates for 8 hours per day, the total number of available bowl processing hours is 4, the total number of packaging hours is 2, and the total number of delivery hours is 2.Processing 10 units of Bowl #1 requires 1 hour of time, packaging is done at the rate of 20 units per hour, and delivery at the rate of 30 units per hour. The cost of the raw materials for 1 unit is…You create your own start-up company that supply bowl directly to a number of customers. You receive a number of tentative orders and you now have to tell your customers which orders you are going to take. Before embarking on this journey, you first want to allocate your production capabilities in order to devise a feasible daily production plan that maximizes your profit.There are only three different grades of bowls that you order at this early stage of the company: Bowl #1, Bowl #2 and Bowl #3.Each type of bowl has to be processed, packaged and delivered. Each operation is run by yourself. Since your company only operates for 8 hours per day, the total number of available bowl processing hours is 4, the total number of packaging hours is 2, and the total number of delivery hours is 2.Processing 10 units of Bowl #1 requires 1 hour of time, packaging is done at the rate of 20 units per hour, and delivery at the rate of 30 units per hour. The cost of the raw materials for 1 unit is…You work for the Brad's Nailer Company which manufactures two types of nailers: a pneumatic model and a cordless model. You have contracted to supply a national retail chain with both pneumatic nailers and cordless nailers. However, Brad's nailer production capability is limited in three departments: production, testing, and packaging. Your answer will be the revenue for a production plan that maximizes revenue - rounded to the nearest whole dollar. (The number of nailers may not be a whole number, which is acceptable in this chapter.) Use Scenario 2 Pneum. Revenue Pneum. Prod Hrs Pneum. Test Hrs Pneum. Pkg Hrs Pneum. Sales Cordless Revenue Cordless Prod Hrs Cordless Test Hrs Cordless Pkg Hrs Cordless Sales Prod Hrs max Testing Hrs max Pkg Hrs max Scenario 1 Scenario 2 Scenario 3 42 0.3 0.3 0.1 21,000 67 0.3 0.4 0.1 15,000 11,000 15,000 4,800 55.50 0.4 0.3 0.1 24,500 69.75 0.3 0.5 0.1 12,000 14,000 15,000 4,800 38.50 0.25 0.4 0.1 18,000 44 0.4 0.4 0.2 14,000 14,000 15,000 4,800