Kane Manufacturing has a division that produces two models of grates, model A and model B. To produce each model A grate requires 3 pounds of cast iron and 6 minutes of labor. To produce each model B grate requires 4 pounds of cast iron and 3minutes of labor. The profit for each model A grate is $2.25, and the profit for each model B grate is $1.75. Available for grate production each day are 1000 pounds of cast iron and 20 labor-hours. Because of an excess inventory of model A grates,management has decided to limit the production of model A grates to no more than 180 grates per day.Maximizesubject toP = 2.25x + 1.75y3x +6x +4y < 10003y ≤ 1200X180y z0X > 0Resource 1Resource 2Resource 3(a) Find the shadow price for Resource 2. (Round your answer to the nearest cent.)$constraint 1constraint 2constraint 3(b) Identify the binding and nonbinding constraints.---Select--- ✓---Select--- ✓---Select--- V

Formulate a spreadsheet in excel as shown below:

Answered: Kane Manufacturing has a division that…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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A company with a capacity of 3,000 units a month has fixed costs of P1,500 a month and labor costs of P10 a unit. Material costs are P5 per unit. The company has been producing at 80 percent of capacity and selling its product for P20. 1What would its net income be at 100 percent at capacity 1.2What would its net income be at 120 percent of capacity if it is assumed that 20 percent more products could be produced on overtime at an extra P3 labor cost per unit for all production above 100 percent?
plz solve it within 30-40 mins I'll give you multiple upvote
QMB Apparel, Inc is a local clothing company that produces two types of shirt: Polo Shirts (P) & Dress Shirts (D). The profit contributions for each shirt and the associated production restrictions (in number of minutes available) are listed below: Polo Shirts (P) Dress Shirts (D) $25 $30 Profit per Unit Cutting Sewing Inspection Polo Shirts (P) Dress Shirts (D) Number of Minutes Available 40 50 1,200 40 1,100 20 1,050 60 70 Using the information in the tables above, what is the optimal amount of Polo Shirts (P) and Dress Shirts (D) that QMB Apparel should produce to maximize it's profits? 40 Polo Shirts (P) & 10 Dress Shirts (D) 5 Polo Shirts (P) & 20 Dress Shirts (D) 30 Polo Shirts (P) & 0 Dress Shirts (D) O0 Polo Shirts (P) & 48 Dress Shirts (D) 010 Polo Shirts (P) & 40 Dress Shirts (D)
A custom motor cycle shop is experiencing high demand from its customers for its services. The owner performs all tasks relating to customization. Assume each customer brings one motor cycle for customization. The owner needs to determine if he needs to add more help to meet customer demand. A week has 40 hours (maximum amount of time available for the owner to work) . The maximum number of customizations that can be done per week is 8 bikes ( if there is no wasted time ). The following is the data collected from observations for a typical week: Every Friday the shop is cleaned by the owner. This takes 5 hours 15 % of the customization needs rework which takes 75 % more time than regular customization 15 % of the customers will be called by the owner to reschedule completion by the owner. This takes 2 hours per customer. Determine OEE. How should the owner handle the business ? Show all formulas, calculations and results.
Five to six times a year, Kicker puts on tent sales in various cities throughout Oklahoma and the surrounding states. The tent sales are designed to show Kicker customers new products, engender enthusiasm about those products, and sell soon to be out-of-date products at greatly reduced prices. Each tent sale lasts one day and requires parking lot space to set up the Kicker semitrailer; a couple of show cars; a disc jockey playing music; a tent to sell Kicker merchandise, distribute brochures, and so on. Last year, the Austin, TX tent sale was held in a corner of the parking lot outside the city exhibition hall where the automotive show was in progress. Because most customers were interested more in the new model cars than in the refurbishment of their current cars, foot traffic was low. In addition, customers did not want to carry speakers and amplifiers all the way back to where they had originally parked. Total direct costs for this tent sale were $14,300. Direct costs…
Meman
Two firms, A and B, each currently dump 168 tons of chemicals into the local river. The government has decided to reduce the pollution and from now on will require a pollution permit for each ton of pollution dumped into the river. The government gives each firm 90 pollution permits. The abatement costs of one ton of pulltion is $122 for Firm A and $147 for Firm B. What would be the total cost of reducing pollution, if the government does NOT allow the firm to trade the permits between each other?
A suburb of Dayton, Ohio, has four local dry cleaners that compete with each other on the basis of price and service speed. Each of them can perform the same basic services at the same level of quality. The following table provides the price that each dry cleaner charges to clean a two-piece suit, as well as the quoted number of days that the service will take. Dry Cleaner Price Number of Days A $ 8.00 3 B $ 9.50 3 C $ 9.00 2 D $ 7.50 4 Which of these dry cleaners are NOT on the efficient frontier?
The Woodruff Corporation purchased a piece of equipment three years ago for $211,000. It has an asset depreciation range (ADR) midpoint of eight years. The old equipment can be sold for $89,000. A new piece of equipment can be purchased for $321,500. It also has an ADR of eight years. Assume the old and new equipment would provide the following operating gains (or losses) over the next six years. Old equ 26,250 14,750 9,500 6,000 5,500 -6,500 The firm has a 25 percent tax rate and a 9 New equipment 81,000 74,500 70,750 61,250 51,500 46,750 year 1 4 percent cost of capital. What is the net cost of the new equipment? Round your solution to two decimal places. What is the present value of incremental benefits? Round your solution to two decimal places. What is the NPV of this replacement decision? Round your solution to two decimal places.
A company owns a 5-year-old turret lathe that has a book value of $23,000. The present market value for the lathe is $18,000. The expected decline in market value is $1,700/year to a minimum market value of $4,080; maintenance plus operating costs for the lathe equal $4,470/year.A new turret lathe can be purchased for $46,000 and will have an expected life of 8 years. The market value for the turret lathe is expected to equal $46,000(0.70)k at the end of year k. Annual maintenance and operating cost is expected to equal $1,900. Based on a 12% MARR, should the old lathe be replaced now? Use an equivalent uniform annual cost comparison, a planning horizon of 7 years, and the cash flow approach.EUAC for keeping old turret lathe: $EUAC for replacing turret lathe: $
Sturgill Manufacturing Inc. needs to predict the numbers of machines and employees required to produce its planned production for the coming year. The plant runs three shifts continuously during the workweek, for a total of 120 hours of capacity per week. The shop efficiency (the percent of total time available for production), which accounts for setups, changeovers, and maintenance, averages 70% with a standard deviation of 5%, which reduces the weekly capacity. Six key parts are produced, and the plant has three different types of machines to produce each part. The machines are not interchangeable as they each have a specific function. The time to produce each part on each machine varies. The mean time and standard deviation (in hours) to produce each part on each machine are shown below: Mean Time Part Type Machine A Machine B Machine C 1 3.5 2.6 8.9 2 3.4 2.5 8 3 1.8 3.5 12.6 4 2.4 5.8 12.5 5 4.2 4.3 28 6…
The ore of a gold mine in the province contains, on average, 0,5 ounce of gold per ton Method A of processing costs 150Photon and recovers 93% of the gold, while Method B costs only 120Php/ton and recovers 81% of the gold. If gold can be sold at 1,200/ounce, which method is better and by how much?

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