At Midwest Steel, steel is produced by combining various alloys and scrap pieces of steel in...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
At Midwest Steel, steel is produced by combining various alloys and scrap pieces of steel in high-temperature furnaces. For a 100-ton piece of steel, three different alloys and two different types of scrap material are to be used. Each alloy and scrap piece have different properties and chemical makeups. The various characteristics of each alloy and scrap are given below, as well as their availability and cost per ton. Alloy 1 Alloy 2 Alloy 3 Scrap 1 Scrap 2 Carbon Nickel 1.75% 2.0% 2.45% 3.0% 2.80% 4.0% 3.10% 4.5% 3.50% 5.5% Characteristics (per ton) Tensile Chromium Strength 3.5% 0.8% 1.2% 3.9% 2.8% 60,000 40,000 90,000 120,000 70,000 Availability 50 50 20 30 40 Cost $150 $120 $80 $35 $20 The customer wants this produced steel to meet the following chemical re- quirements: the carbon composition must be between 2% and 3%, the nickel composition cannot exceed 4%, the chromium composition must be between 1.3% and 2.7%, and its tensile strength must be between 50,000 and 80,000 psi. Assuming that tensile strength of the produced steel is a weighted average of the tensile strength of each alloy and scrap piece, determine how Midwest can produce this 100-ton piece of steel at minimum cost. At Midwest Steel, steel is produced by combining various alloys and scrap pieces of steel in high-temperature furnaces. For a 100-ton piece of steel, three different alloys and two different types of scrap material are to be used. Each alloy and scrap piece have different properties and chemical makeups. The various characteristics of each alloy and scrap are given below, as well as their availability and cost per ton. Alloy 1 Alloy 2 Alloy 3 Scrap 1 Scrap 2 Carbon Nickel 1.75% 2.0% 2.45% 3.0% 2.80% 4.0% 3.10% 4.5% 3.50% 5.5% Characteristics (per ton) Tensile Chromium Strength 3.5% 0.8% 1.2% 3.9% 2.8% 60,000 40,000 90,000 120,000 70,000 Availability 50 50 20 30 40 Cost $150 $120 $80 $35 $20 The customer wants this produced steel to meet the following chemical re- quirements: the carbon composition must be between 2% and 3%, the nickel composition cannot exceed 4%, the chromium composition must be between 1.3% and 2.7%, and its tensile strength must be between 50,000 and 80,000 psi. Assuming that tensile strength of the produced steel is a weighted average of the tensile strength of each alloy and scrap piece, determine how Midwest can produce this 100-ton piece of steel at minimum cost.
Expert Answer:
Answer rating: 100% (QA)
Answer Given Data Alloy 1 Alloy 2 Alloy 3 Scrap 1 Scrap 2 Carbon To fin... View the full answer
Related Book For
Accounting For Managers Interpreting Accounting Information for Decision Making
ISBN: 978-1119979678
4th edition
Authors: Paul M. Collier
Posted Date:
Students also viewed these general management questions
-
The level of sales (in units) that will maximize profits is: c) 30,000
-
Why is store location such an important decision for retailers?
-
Foot Locker Inc. is the worlds number one retailer of athletic footwear and apparel. Headquartered in New York City, the company has over 44,000 employees and 3369 retail stores in 23 countries...
-
Determine the reactions at the beam supports for the given loading when wO = 400 lb/ft. 300 lb/ft A. 5 ft
-
A salesperson calls you up and offers you $200 a year for life. If the interest rate is 9 percent, how much should you be willing to pay for that annuity?
-
Lovers of opera persuade the government to impose a price ceiling of 50 per ticket at the countrys national opera house. Does this policy get more or fewer people to attend? What does the market...
-
What can be inferred by the following voltage trace from the same phase A but from two separate power heads? 800000- 700000- 40000- 300000- 200000- www 100000- 40000- -200000- start 033 000 S 0:04...
-
For the following situations, indicate the most appropriate type of file organization. Explain your choice. a. A local utility company has 80,000 residential and 10,000 commercial customers. The...
-
On June 1 , Year 1 , Williams Inc. paid $ 4 , 8 0 0 for a two - year insurance policy with coverage beginning that day. How much insurance expense will Williams Inc. report in its Year 1 income...
-
After Chris completed the ratio analysis for S&S Air (see Chapter 3), Mark and Todd approached him about planning for next years sales. The company had historically used little planning for...
-
Jacobs grandfather died on 1 November 2009 and, in her will, left Jacob cash and watches worth $500,000. The watches had been bought by Jacobs grandmother in August 1985 at a cost of $40,000, and its...
-
create an analysis of how a Christian worldview could impact of Apple's Mission and Vision statements and its business practices. Include the following: Review the Apple Mission and Vision...
-
Suppose Acme Corp is a cosmetics producer. Each year, it uses 100,000 kilograms of lanolin in its production process. (Lanolin is a key input in the production of lipstick). If the cost of lanolin...
-
Smartphone, and examine how it has been designed, paying special attention to how the user should interact with it. From your first impressions, write down the good and bad things about how the...
-
provide a logical justification for why you believe in collegial view in ethics over other models in ethics?
-
Prepare a flex budget based on selling 4,000 units at a Selling Price of $10/unit. The Static Budget and actual amounts for the period are below: 4,000 units 5,000 Units 4,000 Units Budget Flex...
-
International Business Machines Corporation (IBM) is an American multinational technology corporation headquartered in Armonk, New York, with operations in over 171 countries. The company began in...
-
Medi-Exam Health Services, Inc. (MEHS), located in a major metropolitan area, provides annual physical screening examinations, including a routine physical, EKG, and blood and urine tests. MEUS's...
-
Regal Farms Ltd has sales of 2.5 million, a gross profit of 1.7 million and expenses of 800,000. Regal has paid interest of 72,000 and has to provide for Corporations Tax of 310,000 and dividends of...
-
Carry out a customer profitability analysis and make recommendations in relation to any future strategies DeepNDark should take in relation to its Top 5 customers.
-
A company has bought a new computer system for cash at the beginning of its financial year at a cost of 30,000. It is expected to last 4 years with no value at the end of that period. What is the...
-
The United States brought a lawsuit requesting forfeiture of a \($38.5\) million jet purchased by Teodoro Nguema Obiang Mangue (Nguema) because the government believed the jet had been purchased with...
-
Jose Medellin participated in the rape and murder of two teenage girls in Houston, Texas. He was arrested and read his Miranda rights, and he confessed. At the time, he was not informed that he could...
-
OBB Personenverkehr (OBB), the Austrian state-owned railway, carries about 235 million passengers a year on routes within wholly owned by OBB Holding Group, which in turn, is wholly owned by the...
Study smarter with the SolutionInn App