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Problem
Slavin Corporation manufactures two products, Alpha and Delta. Each product requires time on a single machine. The machine has a monthly capacity of 500 hours. Total market demand for the two products is limited to 150 units (each) monthly. Slavin is currently producing 110 Alphas and 110 Deltas each month. Cost and machine-usage data for the two products are shown in the following table, which Slavin managers use for planning purposes:
Alpha
Delta
Total
Price
$
120
150
Less variable costs per unit
Material
20
35
Labor
26
37
Overhead
14
Contribution margin per unit
60
64
Fixed costs
Manufacturing
8,000
Marketing and administrative
5,000
13,000
Machine hours per unit
2.0
2.5
Machine hours used
495
Machine hours available
500
Quantity produced
110
Maximum demand
Profit
640
Required:
a. What is the optimal production schedule for Slavin? In other words, how many Alphas and Deltas should the company produce each month to maximize monthly profit?
b. If Slavin produces at the level found in requirement (a), how much will monthly profit increase over the current production schedule?
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