Imelda manages a shoe factory that makes two types of shoes: casual shoes and dress shoes. the factory can make a total of 1,000 pairs of shoes per day. on any given day, it cannot make more than 800 casual pairs of shoes. each pair of casual shoes needs 2 units of labor, while each pair of dress shoes needs 3 units of labor. the factory has 2,400 units of labor available daily. each pair of casual shoes earns a profit of $15, while each pair of dress shoes earns a profit of $20. how many pairs of each type should the factory make each day?
specify the decision variables.
specify the objective. this must be based on the inputs specified in the problem, the decision variables specified in (a), and/or intermediate variables specified in (c) below.
specify the constraints. these must be based on the input numbers specified in the problem, the decision variables specified in (a), and/or intermediate variables that you chose to specify.
build a model in excel where you can specify values for the input variables and see the effects on the constraints and objective. note that in order to receive credit, your spreadsheet must be sufficiently annotated so that it is readable. fit it to one page; if necessary, use landscape orientation to print and title it exhibit 1.
ensure that exhibit 1 is well edited and appropriately formatted, which includes showing formulas and including row and column headings.
to show formulas you can either go to the formula tab in excel and find "show formulas" from the "formula auditing" section or use the short cut key: ctrl + ` (note the grave accent key). you may need to resize some of the columns to maximize the readability.
to include row and column headings, there are multiple approaches. if you are using print screen to capture a picture of your model - then the column and row headings are there. if you are printing your model to a printer or a file, then you need to go to the "page layout" tab, there under the "sheet options" section you will find a check box for "print" under "headings". make sure to select to print the headings.
using your model, is it feasible to produce 500 pairs of casual shoes and 500 pairs of dress shoes? if no, why not? if yes, how do you read that from your model?
according to excel solver, what is the optimal production schedule?
Answers: 3
Another question on Business
Business, 22.06.2019 12:30
Sales at a fast-food restaurant average $6,000 per day. the restaurant decided to introduce an advertising campaign to increase daily sales. to determine the effectiveness of the advertising campaign, a sample of 49 days of sales were taken. they found that the average daily sales were $6,300 per day. from past history, the restaurant knew that its population standard deviation is about $1,000. if the level of significance is 0.01, have sales increased as a result of the advertising campaign? multiple choicea)fail to reject the null hypothesis.b)reject the null hypothesis and conclude the mean is higher than $6,000 per day.c)reject the null hypothesis and conclude the mean is lower than $6,000 per day.d)reject the null hypothesis and conclude that the mean is equal to $6,000 per day.expert answer
Answers: 3
Business, 22.06.2019 17:00
Alpha company uses the periodic inventory system for purchase & sales of merchandise. discount terms for both purchases & sales are, 2/10, n30 and the gross method is used. unless otherwise noted, fob destination will apply to all purchases & sales. the value of inventory is based on periodic system. on january 1, 2016, beginning inventory consisted of 350 units of widgets costing $10 each. alpha prepares monthly income statements. the following events occurred during the month of jan.: dateactivitya.jan. 3purchased on account 350 widgets for $11 each.b.jan. 5sold on account 400 widgets for $30 each. paid freight out with petty cash of $150.c.jan. 10purchased on account 625 widgets for $12 each.d.jan. 11shipping cost for the january 10 purchased merchandise was $400 was paid with a cheque by alpha directly to the freight company.e.jan. 12returned 50 widgets received from jan. 10 purchase as they were not the correct item ordered.f.jan. 13paid for the purchases made on jan. 3.g.jan. 21sold on account 550 widgets for $30 each. paid freight out with petty cash of $250.h.jan. 22authorize credit without return of goods for 50 widgets sold on jan. 21 when customer advised that they were received in defective condition.i.jan. 25received payment for the sale made on jan. 5.j.jan. 26paid for the purchases made on jan. 10.k.jan. 31received payment for the sale made on jan. 21.use this information to prepare the general journal entries (without explanation) for the january events. if no entry is required then enter the date and write "no entry required."
Answers: 2
Business, 22.06.2019 19:00
Gus needs to purée his soup while it's still in the pot. what is the best tool for him to use? a. potato masher b. immersion blender c. rotary mixer d. whisk
Answers: 2
Business, 23.06.2019 16:30
5. real versus nominal gdp consider a simple economy that produces two goods: cupcakes and muffins. the following table shows the prices and quantities of the goods over a three-year period. year cupcakes muffins price quantity price quantity (dollars per cupcake) (number of cupcakes) (dollars per muffin) (number of muffins) 2014 2 115 5 175 2015 4 150 2 180 2016 1 100 2 160 use the information from the preceding table to fill in the following table. year nominal gdp real gdp gdp deflator (dollars) (base year 2014, dollars) 2014 2015 2016 from 2015 to 2016, nominal gdp , and real gdp . the inflation rate in 2016 was . why is real gdp a more accurate measure of an economy's production than nominal gdp? real gdp does not include the value of intermediate goods and services, but nominal gdp does. real gdp measures the value of the goods and services an economy produces, but nominal gdp measures the value of the goods and services an economy consumes. real gdp is not influenced by price changes, but nominal gdp is.
Answers: 1
You know the right answer?
Imelda manages a shoe factory that makes two types of shoes: casual shoes and dress shoes. the fact...
Questions
