RVW (Restored Volkswagens) buys 15 used VW's at each of two car auctions eachweek held at different locations. It then transports the cars to repair shops itcontracts with. When they are restored to RVW's specifications, RVW sells 10 toeach of three different used car lots. There are various costs associated with theaverage purchase and transportation prices from each auction to each repair shop.Also there are costs associated with average repair expenses and transportationcosts from the repair shops to the used car lots. RVW is concerned with minimizingits total cost. Given the costs below, determine a minimum total cost schedule forRVW.Repair ShopsUsed Car LotssiS2L1L2L3Auction 1550500s1250300500Auction 2600450S2350650450

The key variables considered here are as follows- X1 = For auction 1 and S1 X2 = For auction 1 and…

Answered: RVW (Restored Volkswagens) buys 15 used…

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...

See similar textbooks

Similar questions

Western Chassis produces high-quality polished steel and aluminum sheeting and two lines ofindustrial chassis for the rack mounting of Internet routers, modems, and other telecommunicationsequipment. The contribution margin (contribution toward profit) for steel sheeting is $0.40 per poundand for aluminum sheeting is $0.60 per pound. Western earns $12 contribution on the sale of aStandard chassis rack and $15 contribution on a Deluxe chassis rack. During the next productioncycle, Western can buy and use up to 25,800 pounds of raw unfinished steel either in sheeting or inchassis. Similarly, 20,400 pounds of aluminum are available. One standard chassis rack requires 16pounds of steel and 8 pounds of aluminum. A Deluxe chassis rack requires 12 pounds of each metal.The output of metal sheeting is restricted only by the capacity of the polisher. For the next productioncycle, the polisher can handle any mix of the two metals up to 4,000 pounds of metal sheeting. Chassismanufacture can be…
Using AMPL program The Pizza Man is a local shop that plans to make all of its sales this Saturday from its sidewalk tables during the town’s holiday parade. On this occasion, the shop’s owners know that customers will buy by the slice and any kind of pizza offered will sell. The Pizza Man offers plain, meat, vegetable, and supreme pizzas. Each variety has its own requirement for sauce, cheese, dough, and toppings (in ounces, as shown inthe table), and each has its own selling price. Plain Meat Vegetable Supreme AvailableDough 5 5 5 5 200Sauce 3 3 3 3 90Cheese 4 3 3 4 120Meat 0 3 0 2 75Veggies 0 0 3 2 40Price…
Please do not give solution in image format thanku
please solve within 30 minutes.
Mount Isa Mines is one of the world’s great metal mines. Its main operations are at Mount Isa, in Queensland, Australia, where it mines adjacent deposits of copper and silver-lead-zinc ores. Production levels change with world demand and prices, but in a typical year 7 million tonnes of ore are mined to give 150,000 tonnes of copper and lead (containing silver) and 200,000 tonnes of zinc. Mount Isa has serious transport problems. It produces huge quantities of ore in a remote area of Australia, while the main demand for finished metals is in the industrialized areas of the world, particularly Europe. The problem is to process the ores and move them to final markets as cheaply as possible. You can see the scope of the problem from an outline of the journey for copper, this starts with underground explosions to break up the ore body. The broken ore is collected by front-end loaders and put onto ore trains that carry it to underground crushers. The crushed ore is then hoisted to the…
Division A has costs of $30 per unit, and transfers goods to Division B which has additional costs of $20 per unit. Division B sells externally at $70 per unit. Division A can sell part-finished units externally for $40 per unit. There is unlimited demand externally from A, and A has limited production capacity. What are the minimum and maximum transfer prices in order to achieve goal congruent decisions?
Valencia Products makes automobile radar detectors and assembles two models: LaserStop and SpeedBuster. The firm can sell all it produces. Both models use the same electronic components. Two of these can be obtained only from a single supplier. For the next month, the supply of these is limited to 4,000 of component A and 3,500 of component B. The number of each component required for each product and the profit per unit are in the table below. This question is interested in maximizing the profit). a) Identify the decision variables, objective function, and constraints in simple verbal statements. b) Mathematically formulate a linear optimization model. Components Required/Unit A B Profit/Unit LaserStop 18 6 $124 SpeedBuster 12 8 $136 Solve this question in Excel by using SOLVER. Please clearly explain what is the optimal solution? What is the resulting output of the objective function at the optimal solution? P.S. please solve in Excel.
A shop is planning an order for a popular Christmas festive season product. Demand for the product usually starts from first week of December till first week of January and reduces sharply thereafter. For this reason, and to stimulate sales for leftovers, the product is sold at a significantly reduced price from the second week of January to the fourth week of January. Any leftover after the fourth week of January goes waste. The table below gives past data on total demand for the period from first week of December to first week of January, and from second week of January to fourth week of January, together with their respective chances of occurrence. The product can be purchased at a wholesale price of GHS60 per unit for a pack containing 600 products, GHS57 per unit for a pack containing 800 products, and GHS52 per unit for a pack containing 1000 products. The shop plans to sell the product for GHS80 per unit from first week of December to first week of January, and at a reduced…
Please do not give solution in image format thanku
Golf World, Incorporated (GWI) sells products and services for the sport of golf. One of its key business units specializes in the repair and reconditioning of golf carts. GWI enters into contracts with a number of golf clubs throughout the U.S. in which the clubs send their carts to GWI for a complete reconditioning: motor, frame repair where necessary, and replacement of seat covers and canvas tops. The clubs usually will cycle 10–15% of their carts through this process each year. Because GWI's business has been growing steadily, it is very important to complete the reconditioning of the carts within a budgeted time and cost. The firm uses weighted-average process costing to keep track of the costs incurred in the reconditioning process. GWI's golf cart repair and reconditioning unit has the following information for the month of November, in which 1,200 carts were started for reconditioning: Beginning WIP: 150 units, 50% complete for materials ($16,600) and 30% complete for…
The distribution of daily demand for rental trucks at a vehicle rental company is shown in the following table: Relative Frequency Demand 0.07 0 0.14 1 0.15 2 0.14 3 0.12 4 0.08 5 0.3 6 Trucks are rented by the day only and the company makes $14 per rented truck per day. The rental company keeps four trucks at this location. Assuming that the stocking decision is optimal, what is the implied range of excess cost per truck per day? a. 0 and 186 b. 8.58064 and 14 c. 14 and 24.8889 d. 6 and 8.58064 e. 34.2759 and 79.3333
Beeson Co. is experiencing a decrease in sales and operating income for the fiscal year ending December 31st. Julia Faure, controller of Beeson Co., has suggested that all orders received before the end of the fiscal year be shipped by midnight, December 31st even if shipping department must work overtime. Since Beeson Co. ships all merchandise FOB shipping point, it would record all such shipments as sales for the year ending December 31st, thereby offsetting some of the decreases in sales and operating income.Discuss whether Julia Faure is behaving in a professional manner and what are the implications of her actions?

SEE MORE QUESTIONS

Recommended textbooks for you

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Business in Action

Operations Management

ISBN:

9780135198100

Author:

BOVEE

Publisher:

PEARSON CO

Purchasing and Supply Chain Management

Operations Management

ISBN:

9781285869681

Author:

Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:

Cengage Learning

Production and Operations Analysis, Seventh Editi…

Operations Management

ISBN:

9781478623069

Author:

Steven Nahmias, Tava Lennon Olsen

Publisher:

Waveland Press, Inc.

SEE MORE TEXTBOOKS