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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Three graduates who recently graduated from the College of Law are considering opening a law office in that would make inexpensive legal services available to those who could not afford these services elsewhere. The intent is to provide easy access for their clients by having the office open 300 days a year, 8 hours each day from 8 A.M. to 4 P.M. The office will be staffed by a lawyer, assistant, secretary, and receptionist. To assist with market projections and to determine the feasibility of this project, the three graduates hired a management accountant who graduated from the College of Business and Economics of 8 years ago. The results of this market study show that if the firm spends USD 500,000 on advertising in the first year, the number of new clients expected each day may have the following probability distribution: Number of new clients per day Probability Expected Outcome 20 0.1 2 30…
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
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How do I calculate the Serviceable Available Market (SAM) with the provided Total Available Market (TAM)?
Explain How can a company use simulation modeling to optimize its capacity planning decisions?
A small-size cargo company in Dubai has been operating since the year 2000. The total workforce comprises ten employees, out of which five are in sales, three are in operations, one is handling legal and accounts matters, and one manager is also the owner of the company. Total annual turnover is enough to run the company smoothly. Recently another director has joined who brought large investment to the company. The Board of directors has decided to expand the business in other cities and establish offices overseas in potential locations. This expansion policy will directly be linked to the new manpower needs. Therefore, the board has decided to open an HR department with one HR manager and three staff to look after HR operations. The new HR manager has noticed that the company has a very convenient way of recording the data, where all transactions are recorded on excel documents. “this may not work in the new setup with many branches around the world”, he mentioned in the BOD meeting.…
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
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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.) $

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