MACHINE PRODUCTION PLANNING Problem A company produces two products A and B using two machines X...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
MACHINE PRODUCTION PLANNING Problem A company produces two products A and B using two machines X and Y. The company needs to plan the production over three months. Each product can be produced in any of the machines. The machine-hours required for production, the production capacity (in hours) and the estimated product demand are given in the tables. The cost for using one machine hour is $30 and the cost of inventory-holding one unit of each product per month is $10. For example, producing 60 units of product A in machine A and none in machine B, during month 1, has a cost of $3600. Since only 50 units are needed in month 1, the extra 10 units can be hold in inventory for month 2 at a cost of $100. The company wants to decide the production plan in order to meet exactly the estimated demand in each month at the minimum overall cost of machine-hours and inventory-holding. Hours on machine X Hours on machine Y Product A Product B 2.0 2.5 1.5 2.0 Month 1 2 3 Capacity Capacity machine X machine Y 140 250 60 150 80 100 Demand Demand product A product B 50 30 100 50 60 50 MACHINE PRODUCTION PLANNING Problem A company produces two products A and B using two machines X and Y. The company needs to plan the production over three months. Each product can be produced in any of the machines. The machine-hours required for production, the production capacity (in hours) and the estimated product demand are given in the tables. The cost for using one machine hour is $30 and the cost of inventory-holding one unit of each product per month is $10. For example, producing 60 units of product A in machine A and none in machine B, during month 1, has a cost of $3600. Since only 50 units are needed in month 1, the extra 10 units can be hold in inventory for month 2 at a cost of $100. The company wants to decide the production plan in order to meet exactly the estimated demand in each month at the minimum overall cost of machine-hours and inventory-holding. Hours on machine X Hours on machine Y Product A Product B 2.0 2.5 1.5 2.0 Month 1 2 3 Capacity Capacity machine X machine Y 140 250 60 150 80 100 Demand Demand product A product B 50 30 100 50 60 50
Expert Answer:
Answer rating: 100% (QA)
The detailed answer for the above question is provided below This problem is solved usin... View the full answer
Related Book For
Posted Date:
Students also viewed these general management questions
-
A manufacturing company makes two products. Each product can be made on either of two machines. The time (in hours) required to make each product on each machine is listed in the file S13_33.xlsx....
-
A company produces two main products: electronic control devices and specialty microchips. The average total cost of producing a microchip is $300; the firm then sells the chips to other high-tech...
-
A manufacturer estimates that its product can be produced at a total cost of C (x) =45,000+100x+x3 dollars. If the manufacturer's total revenue from the sale of x units is R(x)=4600x dollars,...
-
Based on the following definitions, which statement is NOT true? int[] 1DArray={1,2,3}; int[][] 2DArray=new int[2][]; 2DArray[0]={4,5}; 2DArray[1]={6,7,8}; public void method1(int[] 1DArray){...}...
-
Zambrano Wholesale Corporation maintains its records on a cash basis. At the end of each year the company's accountant obtains the necessary information to prepare accrual basis financial statements....
-
The figure shows a right triangle in a rectangular coordinate system. The figure can be represented by the matrix Use the triangle and the matrix that represents it to solve Exercises 3136. In...
-
The space to the right of the \(y\) axis in Figure P29.28 contains a uniform magnetic field of unknown magnitude that points in the positive \(z\) direction. As a conducting square loop placed in the...
-
Aragon and Associates has found from past experience that 25% of its services are for cash. The remaining 75% are on credit. An aging schedule for accounts receivable reveals the following pattern:...
-
61. The solubility product of CuS, AgS and HgS are 10 37, 104 and 1054 respectively. The solubility of these sulphides will be in the order (1) HgS> AgS > Cus (2) AgS>HgS > CuS (3) CuS AgS > HgS (4)...
-
On January 1. Ruiz Company issued bonds as follows: Face Value: Number of Years: Stated Interest Rate: Interest payments per year 500,000 15 7% Required: 1) Calculate the bond selling price given the...
-
a. Record General Journal entries to account for the depreciation 6 months ended 31 December and the sale of the finishing machine and post to the relevant ledger accounts. General Journal - O'Reilly...
-
Walt Disney World Theme Parks offer visitors a wide variety of ticket choices. The one thing these ticket options have in common is that they entail a fixed entrance fee and allow customers to take...
-
myth Securities Inc. serves individual investors and private businesses seeking to go public. What type of firm is Smyth? Retail Integrated Institutional Boutique Issue Coupon Maturity Date Bid Ask...
-
Consider the function f(x): = tan x + 3 secx. Evaluate the derivative of at x = 7/6. Answer: f' (7/6) = FORMATTING: Give an exact answer, not a decimal approximation. We write pi for and sqrt(a) for...
-
WHAT IS THE NEW VALUE OF THE BOND IF INTEREST INCREASE TO 6% WITH BOND CURRENT VALUE 127325, AV HISTORICAL RETURN IS 5%, STANDDARD DEVIATION 7% CURRENT YTM 5% DURATION IS 8YEARS.
-
III . Daisy and Peter want to purchase a new home and need a loan for $130,000 from the local bank. The loan is for 30 years and the annual interest rate is 4.2%, compounded monthly. They will pay...
-
a)Build a mathematical model for surface mounted PM synchronous motor. b) Build a simulation model for a single phase AC universal motor. Select the motor parameters from the literature and other...
-
Synthesize the products by drawing out reagents and intermediates along the way. `N H. OH HO HO
-
Mazys Department Store has decided to stay open for business on a 24-hour basis. The store manager has divided the 24-hour day into six 4-hour periods and has determined the following minimum...
-
The Metro Police Department has partitioned the city into four quadrants. The department has 20 police patrol cars available for each shift per day to assign to the quadrants. The department wants to...
-
Tech, with a student population of 30,000, is located in a small college town in Virginia. Direct Cast Cable TV has a small service staff that is sufficient to handle installations and TV hookups for...
-
Flaherty Ltd sells two types of shoes, mens shoes and womens shoes. During the financial year ended 30 June 2019, fixed costs were $460 800 and sales were in the ratio of three units (pairs) of mens...
-
Newbery and Newstead is a public accounting firm specialising in auditing local medium-sized businesses. Fees charged for each audit are determined on the basis of identifiable hours worked on an...
-
Hotbox Ltd produces pizza boxes using two processes cutting and packaging. The production budget for the year ending 30 June 2019 estimated raw materials use of $400 000, factory overhead of $270...
Study smarter with the SolutionInn App