Sandy Edge is president of Edge File Works, a firm that manufactures two types of metal file cabinets. The demand for the two-drawer model is 650 cabinets per week; demand for the three- drawer cabinet is 400 per week. Edge has a weekly operating capacity of 1,600 hours, with the two- drawer cabinet taking 1.5 hours to produce and the three-drawer cabinet requiring 2 hours. Each two-drawer model sold yields a $12 profit, and the profit for the three-drawer model is $14. Edge has listed the following goals, in rank order:
Rank 1: Attain a profit as close to $12,000 as possible each week.
Rank 2: Avoid underutilization of the firm’s production capacity.
Rank 3: Sell as many two- and three-drawer cabinets as the demand indicates.
Set up and solve this problem as a goal programming model.
Geraldine Shawhan is president of Shawhan File Works, a firm that manufactures two types of metal...... ... in order of importance:1. Attain a profit as close to $11,000 as possible each week.2. Avoid underutilization of the firm\'s production capacity.3. Sell as many two- and three-drawer cabinets...
Refer to Exercise 21.19.a. Find the probability that the x chart does not detect a shift of .75...... ... The company makes 4,000 of these components per hour. The control limits of the x chart are set at 3 standard errors from the mean. When the process goes out of control, it usually shifts the...
The company is considering changing the sampling plan so that 20 components are sampled every...... ... The company makes 4,000 of these components per hour. The control limits of the x chart are set at 3 standard errors from the mean. When the process goes out of control, it usually shifts the...
Efficient Shredding Service has just completed a minor repair on a shredding machine. The repair cost was $1,900, and the book value prior to the repair was $6,000. In addition, the company spent $12,000 to replace the roof on a building. The new roof extended the life of the building by five...
Medicis Pharmaceutical Corp. makes Solodyn, a prescription oral antibiotic. Medicis warns physicians that \"autoimmune syndromes, including drug-induced lupus-like syndrome,\" may be associated with use of the drug. Amanda Watts had chronic acne. Her physician prescribed Solodyn. Information included...
On January 1, 2024, Splash City issues $400,000 of 8% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. Assuming the market interest rate on the issue date is 7%, the bonds will issue at $436,785. Required: 1. Complete the first three rows of an...
The bill of materials for a finished product E, inventory status and other relevant information are given below. Compute the planned order releases and projected on-hand balances for parts E, F and M.
Eric Weiss, marketing director for Charter Power and Light, is about to begin an advertising campaign promoting energy conservation. Each TV ad costs $10,000, while each newspaper ad costs $4,000. Weiss has set the following goals, in rank order: Rank 1: The total advertising budget of $240,000...
Refer to the information for Somerville Company below. Assume a tax rate of 40%. Required: Round answers to four decimal places. 1. Calculate the average total assets. 2. Calculate the return on assets?