4.Hilltop Coffee manufactures a coffee product by blending three types of coffee beans. The cost per pound and the available pounds of each bean are as follows: Bean Cost per Pound Available Pounds 1 $0.50 500 2 $0.70 600 3 $0.45 400 Consumer tests with coffee products were used to provide ratings on a scale of 0-100, with higher ratings indicating higher quality. Product quality standards for the blended coffee require a consumer rating for aroma to be at least 75 and a consumer rating for taste to be at least 80. The individual ratings Of the aroma and taste for coffee made from 100% Of each bean are as follows: Aroma Rating Rating Taste Bea n 75 86 85 88 60 75 Assume that the aroma and taste attributes of the coffee blend will be a weighted average of the attributes of the beans used in the blend, a. What is the minimum-cost blend that will meet the quality standards and provide 1 000 pounds of the blended coffee product? b. What is the cost per pound for the coffee blend? c. Determine the aroma and taste ratings for the coffee blend.

4.Hilltop Coffee manufactures a coffee product by blending three types of coffee beans. The cost per pound and the available pounds of each bean are as follows: Bean Cost per Pound Available Pounds 1 $0.50 500 2 $0.70 600 3 $0.45 400 Consumer tests with coffee products were used to provide ratings on a scale of 0-100, with higher ratings indicating higher quality. Product quality standards for the blended coffee require a consumer rating for aroma to be at least 75 and a consumer rating for taste to be at least 80. The individual ratings Of the aroma and taste for coffee made from 100% Of each bean are as follows: Aroma Rating Rating Taste Bea n 75 86 85 88 60 75 Assume that the aroma and taste attributes of the coffee blend will be a weighted average of the attributes of the beans used in the blend, a. What is the minimum-cost blend that will meet the quality standards and provide 1 000 pounds of the blended coffee product? b. What is the cost per pound for the coffee blend? c. Determine the aroma and taste ratings for the coffee blend.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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