How many hours each graphic designer be assigned to project

Assignment Help Finance Basics
Reference no: EM131668748

Question: Industrial Designs has been awarded a contract to design a label for a new wine produced by Lake View Winery. The company estimates that 150 hours will be required to complete the project. The firm's three graphic designers available for assignment to this project are Lisa, a senior designer and team leader; David, a senior designer; and Sarah, a junior designer. Because Lisa has worked on several projects for Lake View Winery, management specified that Lisa must be assigned at least 40 percent of the total number of hours assigned to the two senior designers. To provide label designing experience for Sarah, the junior designer must be assigned at least 15 percent of the total project time. However, the number of hours assigned to Sarah must not exceed 25 percent of the total number of hours assigned to the two senior designers. Due to other project commitments, Lisa has a maximum of 50 hours available to work on this project. Hourly wage rates are $30 for Lisa, $25 for David, and $18 for Sarah.

a. Formulate a linear program that can be used to determine the number of hours each graphic designer should be assigned to the project to minimize total cost.

b. How many hours should each graphic designer be assigned to the project? What is the total cost?

c. Suppose Lisa could be assigned more than 50 hours. What effect would this have on the optimal solution? Explain.

d. If Sarah were not required to work a minimum number of hours on this project, would the optimal solution change? Explain.

Reference no: EM131668748

Questions Cloud

Find the best investment strategy for the client : Formulate a linear programming model to find the best investment strategy for this client.
Overseas to produce a manufactured good : Suppose five construction companies have the ability to build a factory overseas to produce a manufactured good.
Simplify expressions for the given functions : In this problem, use the given pair of functions to find and simplify expressions for following functions and state the domain of each using interval notation.
How much should be allocated to each type of loan : How much should be allocated to each type of loan? What is the total annual return? What is the annual percentage return?
How many hours each graphic designer be assigned to project : Industrial Designs has been awarded a contract to design a label for a new wine produced by Lake View Winery. The company estimates that 150 hours.
Empanadas at a perfectly competitive farmers : Suppose that Laylita sells empanadas at a perfectly competitive farmers' market and that her total cost of producing empanadas is TC
What are the right-hand-side ranges : What are the objective coefficient ranges for the three components? Interpret these ranges for company management.
Reflect on your interviews and describe your own feelings : Reflect on your interviews and describe your own feelings during the conversation. Did you experience any discomfort, any cognitive dissonance?
Who were the witches of salem : Create a presentation that addresses the essential questions above This will be the focus of your presentation.

Reviews

Write a Review

Finance Basics Questions & Answers

  Financial reporting and analysis

Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..

  A report on financial accounting

This report is specific for a core understanding for Financial Accounting and its relevant factors.

  Describe the types of financial ratios

Describe the types of financial ratios and other financial performance measures that are used during venture's successful life cycle.

  Differences between sole proprietorship and corporation

Briefly describe the major differences between a sole proprietorship and a corporation

  Prepare a cash budget statement

Calculate the expected value of the apartment in 20 years' time. What is the mortgage loan repayment at the beginning of each month

  What are the implied interest rates

What are the implied interest rates in Europe and the U.S.?

  State pricing theory and no-arbitrage pricing theory

State pricing theory and no-arbitrage pricing theory

  Small business administration

Identify the likely stage for each venture and describe the type of financing each venture is likely to be seeking and identify potential sources for that financing.

  Effect of financial leverage

The Effect of Financial Leverage and working capital management

  Evaluate the basis for the payment to the lender

Evaluate the basis for the payment to the lender and basis for the payment to the company-counterparty.

  Importance of opps, ipps, mpfs and dmepos

Research and discuss the differences and importance of : OPPS, IPPS, MPFS and DMEPOS.

  Time value of money

Time Value of Money project

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd