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Klein Industries manufactures three types of portable air compressors: small, medium, and large, which have unit profits of $20.50, $34.00, and $42.00, respectively. The projected monthly sales are: Small Medium Large Minimum 14,000 6,200 2,600 Maximum 21,000 12,500 4,200 The production process consists of three primary activities: bending and forming, welding, and painting. The amount of time in minutes needed to process each product in each department is shown below: Small Medium Large Available Time Bending/forming 0.4 0.7 0.8 23,400 Welding 0.6 1.0 1.2 23,400 Painting 1.4 2.6 3.1 46,800 How many of each type of air compressor should the company produce to maximize profit? a. Formulate and solve a linear optimization model using the auxiliary variable cells method and write a short memo to the production manager explaining the sensitivity information. b. Solve the model without the auxiliary variables and explain the relationship between the reduced costs and the shadow prices found in part a.
Determine how well the mission statements match up with the elements on the checklist and rewrite the mission statements to better reflect the checklist.
It is clear that absorption costing and variable costing produce different profit results on the basis of the same information. Why would that difference in profits be smaller for a business that uses a lean manufacturing approach than for a business..
As chief excutive chef of a large national themed restraunt chain, hoping to go international in the next five years, Koptra Galwal worked hard to inspire the restraunts employees. He planned to expand the number of restraunts improve profitability a..
Target Cost And Cost Reduction To Achieve Target Cost
How can the marketer of a nicotine patch (a device that helps individuals quit smoking) use the theory of trying to segment its market? Using this theory, identify two segments that the marketer should target, and propose product positioning approach..
Brady Jones is a manager at a local store that sells computers. He needs to decide how many computers to order based on the quantity discount schedule below. Annual demand is 3,000 computers, annual inventory carrying cost as a percent of unit cost i..
Identify the many factors that affect decisions on location. Identify the many factors that affect decisions on a firms location strategy. Why is it important for a firm to have a location strategy?
Assume you have a choice to work for either a globally integrated enterprise, a met national a glorecalized MNE, a micro-multinational, or a cyber corp. Which would you choose? Why? Based on the material presented in the chapter, what sort of environ..
If a firm uses the continuous review system to control the inventory, what would be the order quantity and reorder point? The firm decided to change to the periodic review system to control the item’s inventory. For the most recent review, an invento..
How patient privacy is protected is now governed by HIPAA. HIPAA compliance continues to challenge health care organizations. What best practices can be used to ensure the privacy and security of protected personal health information (PHI)? (300 word..
Analyze the techniques used to attain speed in a new product project. Discuss how these techniques might be used to bring a new beverage division in an established food company. Deduce the potential risks in a speed to market approach for this com..
A first-term junior senator has placed a bill before the Senate that promises to correct tax inequities that affect thousands of workers. However, the bill is being held up in committee. Identify and tell what ethical philosophy the senior and junior..
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