Reference no: EM131075921
G-table Company manufactures two types of tables - vinyl and laminate dining tables. The company received an order for 30,000 vinyl tables and 15,000 laminate tables. The company has a choice of manufacturing the tables in house or outsourcing their production to a third party manufacturer. It costs the company $55 to produce one vinyl table and $85 to produce one laminate table. It costs $67 and $95 to order the vinyl table and the laminate table from another manufacturer, respectively. The production time at each department for every table the company will produce in house is given in the following table ( see picture 1)
Each department's available hours are limited to: 10,000 , 15,000 and 5,000 for the Cutting department, Covering department and Packing department, respectively.
1. Develop a mathematical model to this problem (the company interested in minimizing the costs). 2. Solve it in Excel.
3. How many vinyl and laminate dining tables the company will manufacture in house and how many it will buy from another manufactory?
4. What is the minimum cost?
5. How much would vinyl tables have to cost in order for the company to consider purchasing these items rather than making them?
6. If the cost to make laminate table increased to $90 per unit, how would the optimal solution change?
7. How much should the company be willing to pay to acquire additional hours in the Covering with overlay department? Explain.
Please answer each question on a word file and provide your excel worksheet.
|
Reputation in a model of monetary policy
: Time inconsistencies (based on Barro-Gordon (1983), "Rules, Discretion, and Reputation in a Model of Monetary Policy", Journal of Monetary Economics, 12:101-121) Assume that the preferences of the benevolent policy maker can be represented through..
|
|
Health care financing and economic trends and forces
: Compare the three(3) current health care financing and funding models (i.e., employee based, government based, and individual based) used with the health care delivery system of the United States.
|
|
Determine that the metal ion was a +2 ion which metal is it
: determine that the metal ion was a +2 ion, then which metal is it? This metal was used in batteries for a long time (even in "alkaline" batteries) due to its good electrochemical properties, but it is now being phased out. Why?
|
|
Imply for the slope of the lm curve
: Suppose that money demand is flat, as is the case at very low interest rates. a. What does this imply for the slope of the LM curve? b. What does this imply for the slope of the IS curve?
|
|
How many vinyl and laminate dining table company manufacture
: How many vinyl and laminate dining tables the company will manufacture in house and how many it will buy from another manufactory? How much would vinyl tables have to cost in order for the company to consider purchasing these items rather than mak..
|
|
Evaluate each decision taken in the simulation game
: I need a Corporation Simulation Report for my course "Managing International Business"
|
|
Principles of economics teach
: As part of a marketing research committee for your organization, you have been assigned the task of preparing a 700-word research paper about current microeconomic thought and theory.
|
|
The separate databases and records of different company
: Customer information is buried deep in the separate databases and records of different company departments. To overcome such problems, many companies are now turning to ________ to manage detailed information about individual customers.
|
|
Convergence of health care financing and economic
: Compare the three(3) current health care financing and funding models (i.e., employee based, government based, and individual based) used with the health care delivery system of the United States.
|