Reference no: EM13334668
A company produces two types of grass: Fescue and Bermuda grass
Fescue Grass Bermuda Grass
Selling price per square yard $2.00 $2.85
Less variable cost per square yard
(water, fertilizer, maintenance) 0.55 1.15
The company has 120,000 square yards of growing space available. In the past year,the company dedicate 60,000 square yards to fescue and 60,000 square yards to Bermuda grass. Annual fixed costs are $120,000, which the company allocates to priducts based on relative growing space.
The CFO of the company has suggested tht in the coming year, all 120,000 square yards should be devoted to Bermuda grass. The president vetoed the suggestion saying " I know right now home construction is booming in our area and we can sell all the grass we can produce, irrespective of what type. But you know a lot of developmers really like that fescue grass and I'd hate to disappoint them by not offering it."
Required:
What is the opportunity cost of the president's decision to stick with both types of grass?
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