A farmer has 1200 acres of land and plans 10 plant corn and soybeans. The input cost (cost of seed, fertilizer, herbicide, and insecticide) for 1 acre or each crop is given in the table along with the cost of machinery and labor. The profit for 1 acre of each crop is given in the last column.
Input Cost per Acre | Labor/Machinery Cost per Acre | Profit per Acre | |
---|---|---|---|
Corn | $180 | $80 | $120 |
Soybeans | $120 | $100 | $1000 |
Suppose the farmer has budgeted a maximum of $198,000 for input costs and a maximum of $110,000 for labor and machinery.
a. Determine the number of acres of each crop that the farmer should plant to maximize profit. (Assume that all crops will be sold.)
b. What is the maximum profit?
c. If the profit per acre were reversed between the two crops (that is, $100 per acre for corn and $120 per acre for soybeans), how many acres of each crop should be planted to maximize profit?
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Chapter 5 Solutions
COLLEGE ALGEBRA CUSTOM TEXT WITH ALEKS 3
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- Describe the y-intercept and end behavior of the following graph: 0 2 4 -2 -4 -6arrow_forwardComputing Ending Inventory under Dollar-Value LIFO Wheels Inc. accounts for inventory using the dollar-value LIFO method. The following information is available for Year 1 through Year 3 (listed chronologically). Year Ending Inventory at FIFO Price Index Year 1 Year 2 Year 3 $6,000 1.00 9,600 1.10 12,000 1.13 Compute ending inventory under the dollar-value LIFO method for Year 1, Year 2, and Year 3. • Note: Round your answers to the nearest whole dollar.arrow_forwardUpland Co.'s inventory records showed the following data accounted for in a perpetual inventory system. Unit Date June 1 Units Cost Inventory (beg.) 700 $8.00 June 3 Purchases 1,400 8.40 June 7 Sales (at $16 per unit) 980 952 9.00 June 20 Purchases June 22 Sales (at $16 per unit) 1,540 What is (a) ending inventory on June 30, and (b) cost of goods sold for June, using the FIFO inventory method? •Note: Do not use negative signs with any of your answers. •Note: List the inventory units in chronological order based on their purchase date with beginning inventory, if any, listed first.arrow_forward
- Explain how solve 4x + 3 = 7 using the change of base formula logy: logy. Include the solution for x in your answer. Round your answer to the nearest thousandth. log barrow_forward5. Consider the following vectors 0.1 3.2 -0-0-0 = 5.4 6.0 = z= 3 0.1 For each of exercises a-e, either compute the desired quantity by hand with work shown or explain why the desired quantity is not defined. (a) 10x (b) 10-27 (c) J+Z (d) (x, y) (e) (x, z)arrow_forwardConsider the graph/network plotted below. 1 6 5 3 Explicitly give (i.e., write down all of the entries) the adjacency matrix A of the graph.arrow_forward
- Holt Mcdougal Larson Pre-algebra: Student Edition...AlgebraISBN:9780547587776Author:HOLT MCDOUGALPublisher:HOLT MCDOUGALAlgebra: Structure And Method, Book 1AlgebraISBN:9780395977224Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. ColePublisher:McDougal Littell
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