Micromedia offers computer training seminars on a variety of topics. In the seminars each student works at a personal computer, practicing the particular activity that the instructor is presenting. Micromedia is currently planning a two-day seminar on the use of Microsoft Excel in statistical analysis. The projected fee for the seminar is 600 dollars per student. The cost for the conference room, instructor compensation, lab assistants, and promotion is 9600 dollars. Micromedia rents computers for its seminars at a cost of 60 dollars per computer per day. a. Develop a model for the total cost to put on the seminar. Let x represent the number of students who enroll in the seminar. b. Develop a model for the total profit if x students enroll in the seminar. c. Micromedia has forecasted an enrollment of 30 students for the seminar. How much profit will be earned if its forecast is accurate? d. Compute the breakeven point. e. Write a report and recommendation based on the analysis
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- Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. As the Marketing Manager for Southeastern Corrugated, what would you do upon receiving the request for quotation from Coastal Products?The Tinkan Company produces one-pound cans for the Canadian salmon industry. Each year the salmon spawn during a 24-hour period and must be canned immediately. Tinkan has the following agreement with the salmon industry. The company can deliver as many cans as it chooses. Then the salmon are caught. For each can by which Tinkan falls short of the salmon industrys needs, the company pays the industry a 2 penalty. Cans cost Tinkan 1 to produce and are sold by Tinkan for 2 per can. If any cans are left over, they are returned to Tinkan and the company reimburses the industry 2 for each extra can. These extra cans are put in storage for next year. Each year a can is held in storage, a carrying cost equal to 20% of the cans production cost is incurred. It is well known that the number of salmon harvested during a year is strongly related to the number of salmon harvested the previous year. In fact, using past data, Tinkan estimates that the harvest size in year t, Ht (measured in the number of cans required), is related to the harvest size in the previous year, Ht1, by the equation Ht = Ht1et where et is normally distributed with mean 1.02 and standard deviation 0.10. Tinkan plans to use the following production strategy. For some value of x, it produces enough cans at the beginning of year t to bring its inventory up to x+Ht, where Ht is the predicted harvest size in year t. Then it delivers these cans to the salmon industry. For example, if it uses x = 100,000, the predicted harvest size is 500,000 cans, and 80,000 cans are already in inventory, then Tinkan produces and delivers 520,000 cans. Given that the harvest size for the previous year was 550,000 cans, use simulation to help Tinkan develop a production strategy that maximizes its expected profit over the next 20 years. Assume that the company begins year 1 with an initial inventory of 300,000 cans.Assume the demand for a companys drug Wozac during the current year is 50,000, and assume demand will grow at 5% a year. If the company builds a plant that can produce x units of Wozac per year, it will cost 16x. Each unit of Wozac is sold for 3. Each unit of Wozac produced incurs a variable production cost of 0.20. It costs 0.40 per year to operate a unit of capacity. Determine how large a Wozac plant the company should build to maximize its expected profit over the next 10 years.
- Digital Imaging has hired your Analytics Consulting Firm (SJU Analytics) to help determine how many units of each printer they should produce to maximize profit. Construct a Simple Linear Programing Analysis using Excel SOLVER Prepare a presentation to DI’s president presenting your findings and recommendations. Digital Imaging’s Leadership team has providing the following information: Digital Imaging (DI) produces color printers for both the professional and consumer markets. The DI consumer division recently introduced two new color printers. The DI-910 model can produce a borderless color print in approximately 37 seconds. The more sophisticated and faster DI-950 can even produce a borderless color print. Financial projections show profit contributions of $42 for each DI-910 and $87 for each DI-950. The printers are assembled, tested, and packaged at DI’s plant located in New Bern, North Carolina. This plant is highly automated and uses two manufacturing lines to produce the…Fedori Corporation has a Parts Division that does work for other Divisions in the company as well as for outside customers. The company's Machinery Division has asked the Parts Division to provide it with 4,000 special parts each year. The special parts would require P23.00 per unit in variable production costs. The Machinery Division has a bid from an outside supplier for the special parts at P37.00 per unit. In order to have time and space to produce the special part, the Parts Division would have to cut back production of another part-the YR24 that it presently is producing. The YR24 sells for P40.00 per unit, and requires P28.00 per unit in variable production costs. Packaging and shipping costs of the YR24 are P3.00 per unit. Packaging and shipping costs for the new special part would be only P1.50 per unit. The Parts Division is now producing and selling 15,000 units of the YR24 each year. Production and sales of the YR24 would drop by 20% if the new special part is produced for…eastman publishing company is considering publishing an electronic textbook on spreadsheet application for business. The fixed cost of manuscript preparation, textbook, design, and web site construction is estimated to be $160,000. Variable processing costs are estimated to be $6 per book. The publisher plans to sell access to the book for $46 each. a. build a spreadsheet model to calculate the profit/loss for a given demand. What profit can be anticipated with a demand of 3500 copies? b. use a one way data table to vary demand from 1000 to 6000 increments of 200 to assess the sensitivity of profit to demand. c. Use goal seek to determine the access price per copy that the publisher must charge to break even with a demand of 3500 copies d. make a recommendation that maximixesthe sales for eastman publishing company
- Boston Company use a special part in manufacturing of its finished products. The unit cost thisspecial part is $ 35, and details of its manufacturing cost is as follows. The $35 unit productcost of this part is based on average 25,000 number of parts produced each year.An outside supplier has offered to supply the 25,000 parts at a cost of $30 per part. The specialequipment used to manufacture the above part. This equipment can only be used formanufacturing of this part and if not used it has no resale value.The total amount of general factory overhead, which is allocated based on direct labor-hours,would be unaffected by this decision because it is fixed cost..Suggest the management whether to stop producing internally and buy them from theoutside supplier?Description CAD Direct Materials 10Direct Labor 6Variable overheads…During the Inept Management Day festivities, the citizens of X country elect through online polls the most clueless, psychologically unstable, incompetent, and damaging leader, and then hang the pictures of that leader on their balcony clotheslines. Company Y sells copies of the picture and needs to order them from a print shop. The cost per picture copy bought from print shop is 71.50 local currency units (LCU), and during the festivities they are sold for 119.50 LCU per copy. It is expected that any stock of the pictures remaining unsold after the festivities can be given for recycling to a toilet paper manufacturer at the sale price of 59.50 LCU per copy. Assume that a uniform probability distribution ranging from 6830 to 7680 copies describes the demand, with average expected demand of 7255. What is the optimal order size of picture copies for the Inept Management Day under these conditions? Select one: a. equal to or less than 6920 copies b. between 6920 and 7220 copies…We run a fresh produce stand at farmer’s market where we sell avocados and artichokes. Each morning, a supplier drops off bags of these products. We can buy up to 200 bags of avocados and up to 175 bags of artichokes each morning. We resell the bags to customers throughout the day. The contribution margin of avocados is $15/bag; the contribution margin of artichokes is $20/bag. We sell at least twice as many bags of avocados as we do artichokes. We have found that our normal daily demand is between 140 and 350 total bags what are the constaints
- The Woody Company manufactures slippers and sells them at $10 a pair. Variable manufacturing costs are $4.50 a pair, and allocated fixed manufacturing costs are $1.50 a pair. It has enough idle capacity available to accept a one-time-only special order of 20,000 pairs of slippers at $6 a pair. Woody will not incur any marketing costs as a result of the special order. What would the effect on operating income be if the special order could be accepted without affecting normal sales? (a) $0, (b) $30,000 increase, (c) $90,000 increase, (d) $120,000 increaseDemand for stereo headphones and music players for joggers has caused Nina Industries to grow almost 50 percent over the past year. The number of joggers continues to expand, so Nina expects demand for headsets to also expand, because, as yet, no safety laws have been passed to prevent joggers from wearing them. Demand for the players for this year was as follows: MONTH DEMAND (UNITS) January 4,150 February 4,250 March 3,950 April 4,350 May 4,950 June 4,650 July 5,250 August 4,850 September 5,350 October 5,650 November 6,250 December 5,950 a. Using linear regression analysis, what would you estimate demand to be for each month next year? Using a spreadsheet, follow the general format in Exhibit 3.8. (Do not round intermediate calculations. Round your answers to 2 decimal places.) b. To be reasonably confident of meeting demand, Nina decides to use 3 standard errors of estimate for safety. How many additional units should be held to meet this…A company offers ID theft protection using leads obtained from client banks. Three employees work 40 hours a week on the leads, at a pay rate of $12 per hour per employee. Each employee identifies an average of 3,400 potential leads a week from a list of 4,600. An average of 6 percent of potential leads actually sign up for the service, paying a one-time fee of $80. Material costs are $1,500 per week, and overhead costs are $9,300 per week. Calculate the multifactor productivity for this operation in fees generated per dollar of input.