Petfoods makes dog food using a blend of three ingredients: K9, K8 and K1. The company has a regular blend, an extra blend and a puppy delite. The regular blend consists of one third of each ingredient; the extra blend is 50% K9 and 25% each of K8 and K1. The puppy delite is 10% K8 and the rest K1. The dog food is produced in 1-pound cans. There are 1500 pounds of K9, and 1000 pounds of each of the other ingredients available. The regular blend yields a profit of $0.20 per can, the extra blend a profit of $0.18 a can and the puppy delite a profit of $0.25 per can. Formulate an LP that can be used to maximize profit. Can you show this in excel step by step
Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
Petfoods makes dog food using a blend of three ingredients: K9, K8 and K1. The company has a regular blend, an extra blend and a puppy delite. The regular blend consists of one third of each ingredient; the extra blend is 50% K9 and 25% each of K8 and K1. The puppy delite is 10% K8 and the rest K1. The dog food is produced in 1-pound cans. There are 1500 pounds of K9, and 1000 pounds of each of the other ingredients available. The regular blend yields a profit of $0.20 per can, the extra blend a profit of $0.18 a can and the puppy delite a profit of $0.25 per can. Formulate an LP that can be used to maximize profit. Can you show this in excel step by step
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