Micromedia offers computer training seminars on a variety of topics. In the seminars each student works ata personal computer, practicing the particular activity that the instructor is presenting. Micromedia iscurrently planning a two-day seminar on the use of Microsoft Excel in statistical analysis. The projected feefor the seminar is $610 per student. The cost for the conference room, instructor compensation, labassistants, and promotion is $8,160. Micromedia rents computers for its seminars at a cost of $135 percomputer per day.(a) Develop a model for the total cost (C) to put on the seminar. Let x represent the number of studentswho enroll in the seminar.C =(b) Develop a model for the total profit (P) if x students enroll in the seminar.P =(c) Micromedia has forecast an enrollment of 50 students for the seminar. How much profit will be earnedif their forecast is accurate?P(50) = $(d) Compute the break-even point.X =

Forecasting is the method that helps the organization reduce the uncertainty of the future so that…

Answered: Micromedia offers computer training…

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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Charles Lackey operates a bakery in Idaho Falls, Idaho. Because of its excellent product and excellent location, demand has increased by 45% in the last year. On far too many occasions, customers have not been able to purchase the bread of their choice. Because of the size of the store, no new ovens can be added. At a staff meeting, one employee suggested ways to load the ovens differently so that more loaves of bread can be baked at one time. This new process will require that the ovens be loaded by hand, requiring additional manpower. This is the only production change that will be made in order to meet the increased demand. The bakery currently makes 1,500 loaves per month. Employees are paid $8 per hour. In addition to the labor cost, Charles also has a constant utility cost per month of $550 and a per loaf ingredient cost of $0.40. Current multifactor productivity for 640 work hours per month = loaves/dollar (round your response to three decimal places).
Handerson Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead Standard Quantity or Hours 8.5 kilos 0.4 hours 0.4 hours Standard Price or The company reported the following results concerning this product in August. Actual output Raw materials used in production Purchases of raw materials Rate $ 6.00 per kilo $ 20.00 per hour $ 6.00 per hour 3,200 units 29,030 kilos 31,600 kilos Actual direct labor-hours 1,160 hours Actual cost of raw materials purchases $ 195,920 $ 22,736 Actual variable overhead cost $ 7,540 Actual direct labor cost The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The materials price variance for August is: Multiple Choice $5,440 F
Kelsie Corporation is using a predetermined overhead rate that was based on estimated total fixed manufacturing overhead of $510,000 and 30,000 machine-hours for the period. The company incurred actual total fixed manufacturing overhead of $517,000 and 27,000 total machine-hours during the period. The amount of manufacturing overhead that would have been applied to all jobs during the period is closest to: Select one: O a. $459,000 O b. $574,444 O c. $17 Od. $19.15
Southeastern Airlines's daily flight from Atlanta to Charlotte uses a Boeing 737, with all-coach seating for 120 people. In the past, the airline has priced every seat at $142 for the one-way flight. An average of 79 passengers are on each flight. The variable cost of a filled seat is $26. Aysajan Eziz, the new operations manager, has decided to try a yield revenue approach, with seats priced at $82 for early bookings and at $187 for bookings within 1 week of the flight. He estimates that the airline will sell 67 seats at the lower price and 34 at the higher price. Variable cost will not change. Total S contribution in the single price approach is $ (enter your response as a whole number). Total S contribution in the two price points approach is $ (enter your response as a whole number). Which approach is preferable to Mr. Eziz? O A. Proposed model - two price points O B. Current model - single price
Question 18 A tire company needs a forecast for studded tires in the next forecast period. The company typically uses an exponential smoothing forecast using a smoothing constant of alpha = 0.20. The demand for the most recent period was 100 and the forecast for the same period was 110. Based on this information, what is the tire company's forecast for the next period? Group of answer choices a. 100 tires b. 102 tires c. 108 tires d. 110 tires e. Impossible to determine
Gator Beach Marts, a chain of convenience grocery stores in the Fort Lauderdale area, has store hours that fluctuate from month to month as the tourist trade in the community varies. The utility costs for one of the company’s stores are listed below for the past six months. Month Total Hoursof Operation Total UtilityCost January 500 $ 2,120 February 600 2,400 March 750 2,850 April 450 2,050 May 400 1,750 June 350 1,650 Required:1-a. Use the high-low method to estimate the cost behavior for the store’s utility costs. Express the cost behavior in formula form (Y= a + bX).1-b. What is the variable utility cost per hour of operation?3-a. Construct an Excel spreadsheet and use the Excel commands to perform a least-squares regression. Estimate the cost behavior for the store's utility cost. Express the cost behavior in formula form.3-b. What is the variable utility cost per hour of operation?4. During July, the…
Thunderbird Manufacturing purchases a new stamping machine for $40,000. Its useful life is estimated to be 250,000 units with a salvage value of $5,000. Prepare a units-of-production (UOP) depreciation schedule based on the given annual usage (units produced) as shown below. chart attached
Preliminary plans are under way for the construction of a new stadium for a major league baseball team. City officials have questioned the number and profitability of the luxury corporate boxes planned for the upper deck of the stadium. Corporations and selected individuals may buy the boxes for $320,000 each. The fixed construction cost for the upper deck area is estimated to be $5,760,000, with a variable cost of $160,000 for each box constructed. (a) What is the break-even point for the number of luxury boxes in the new stadium? X = (b) Preliminary drawings for the stadium show that space is available for the construction of up to 48 luxury boxes. Promoters indicate that buyers are available and that all 48 could be sold if constructed. (1) What is your recommendation concerning the construction of luxury boxes? O Build the luxury boxes. O Do not build the luxury boxes. (ii) What profit is anticipated (in dollars)? (Enter a negative value if a predicted loss.) $
An online coaching program has been developed for patients with borderline hypertension. A total of 100 patients are randomized to receive the coaching, and 100 patients serve as control subjects. The start-up cost of the coaching program is $2,000 for software, hardware, and office supplies. A part-time nurse is hired for the program, with a salary of $15,000 plus 20% fringe benefits. The cost per year per patient for medication is $1000. It has been shown that for the first year after beginning the program, 90% with coaching were not considered hypertensive (normal or borderline blood pressure) and 10% were prescribed medication to control their blood pressure. In the control group (no coaching), 70% were not considered hypertensive after 1 year and 30% were prescribed blood pressure medication. Patients in the coaching group continue to receive coaching even if they are prescribed medication. Assuming that these probabilities are constant for the next 4 years, and assuming a 3%…
Charles Lackey operates a bakery in Idaho Falls, Idaho. Because of its excellent product and excellent location, demand has increased by 45%in the last year. On far too many occasions, customers have not been able to purchase the bread of their choice. Because of the size of the store, no new ovens can be added. At a staff meeting, one employee suggested ways to load the ovens differently so that more loaves of bread can be baked at one time. This new process will require that the ovens be loaded by hand, requiring additional manpower. This is the only production change that will be made in order to meet the increased demand.The bakery currently makes 1,800 loaves per month. Employees are paid $8 per hour. In addition to the labor cost, Charles also has a constant utility cost per month of $650 and a per loaf ingredient cost of $0.40. After increasing the number of work hours to 928 per month,what is the multifactor productivity =? loaves/dollar (round your response to…
Charles Lackey operates a bakery in Idaho Falls, Idaho. Because of its excellent product and excellent location, demand has increased by 35% in the last year. On far too many occasions, customers have not been able to purchase the bread of their choice. Because of the size of the store, no new ovens can be added. At a staff meeting, one employee suggested ways to load the ovens differently so that more loaves of bread can be baked at one time. This new process will require that the ovens be loaded by hand, requiring additional manpower. This is the only production change that will be made in order to meet the increased demand. The bakery currently makes 1,500 loaves per month. Employees are paid $88 per hour. In addition to the laborcost, Charles also has a constant utility cost per month of $800 and a per loaf ingredient cost of $0.35 Current multifactor productivity for 640 work hours per month = loaves/dollar (round your response to three decimal places).
Jill is concerned that the latest short term demand forecast for dog grooming at her Fifteenth Street Dog Salon, is higher than her salon capacity. As she doesn't want to turn business away, she must find a solution to optimizing the capacity levels at her business. Discuss how she should approach this short term problem and suggest long term capacity management methods to eliminate this problem in the future.

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