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Optimum Solution
From the stand point of implementing the LP solution, the mathematical classification of the variables as basic and non-basic is of no importance and should be totally ignored in reading the optimum solution. The variables not listed in the "basic" column necessarily have zero values. The rest have their values in the solution column. In terms of the optimum solution of our example, we are interested primarily in the product mix of exterior and interior paint, that is, the decision variables XE and XI. From the optimum tableau we have the following summary:Decision Variable Optimum Value DecisionXE 3 1/3 Produce 3 1/3 tons of exterior paintXI 1 1/3 Produce 1 1/3 tons of interior paintZ 12 1/3 Resulting profit is 12 2/3 thousand Shs
The Rohr Company’s old equipment for making subassemblies is worn out. The company is considering two courses of action: (a) Completely replacing the old equipment with new equipme
Accounting Cycle is the name given to the combined process of recording and processing the accounting proceedings of a company. The series of steps start when a transaction takes p
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Activity Based Costing (ABC) differs from Absorption Costing (AC) in the manner in which overheads are charged to units. ABC charges overheads to units based on their proportion
MAKE A TRADING ACCOUNT
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