The ELC Corporation manufactures two industrial-sized electricaldevices: generators and alternators. Both of these products requirewiring and testing during the assembly process. Each generatorrequires 5 hours of wiring and 2 hour of testing and can be sold for a$420 profit. Each alternator requires 2 hours of wiring and 1 hours oftesting and can be sold for a $260 profit. There are 400 hours of wiringtime and 300 hours of testing time available in the next productionperiod and ELC wants to maximize profit.What is the shadow price of hours of testing?Question 5The ELC Corporation manufactures two industrial-sized electricaldevices: generators and alternators. Both of these products requirewiring and testing during the assembly process. Each generatorrequires 5 hours of wiring and 2 hour of testing and can be sold for a$420 profit. Each alternator requires 2 hours of wiring and 1 hours oftesting and can be sold for a $260 profit. There are 400 hours of wiringtime and 300 hours of testing time available in the next productionperiod and ELC wants to maximize profit.Management informs you that you have to cut 50 hours of eitherwiring or testing. Which would you choose?O wiringtestingit doesn't matter which one is cutO No answer text provided.

As per Bartleby's guidelines, I have Solved the first question as multiple questions are asked…

Answered: The ELC Corporation manufactures two…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 33P: Assume the demand for a companys drug Wozac during the current year is 50,000, and assume demand...

See similar textbooks

Similar questions

Assume the demand for a companys drug Wozac during the current year is 50,000, and assume demand will grow at 5% a year. If the company builds a plant that can produce x units of Wozac per year, it will cost 16x. Each unit of Wozac is sold for 3. Each unit of Wozac produced incurs a variable production cost of 0.20. It costs 0.40 per year to operate a unit of capacity. Determine how large a Wozac plant the company should build to maximize its expected profit over the next 10 years.
A manufacturer has a production facility that requires 10,237 units of component JY21 per year. Following a long-term contract, the manufacturer purchases component JY21 from a supplier with a lead time of 6 days. The unit purchase cost is $31.4 per unit. The cost to place and process an order from the supplier is $168 per order. The unit inventory carrying cost per year is 12.2 percent of the unit purchase cost. The manufacturer operates 250 days a year. Assume EOQ model is appropriate. If the manufacturer uses a constant order quantity of 1,053 units per order, what is the annual holding cost? Use at least 4 decimal places.
Digital Controls, Inc. (DCI), manufactures two models of a radar gun used by police to monitor the speed of automobiles. Model A has an accuracy of plus or minus 1 mile per hour, whereas the smaller model B has an accuracy of plus or minus miles per hour. For the next week, the company has orders for 100 units of model A and 150 units of model B. Although DCI purchases all the electronic components used in both models, the plastic cases for both models are manufactured at a DCI plant in Newark, New Jersey. Each model A case requires 4 minutes of injection-molding time and 6 minutes of assembly time. Each model B case requires 3 minutes of injection-molding time and 8 minutes of assembly time. For next week, the Newark plant has 600 minutes of injection-molding time available and 1,080 minutes of assembly time available. The manufacturing cost is $10 per case for model A and $6 per case for model B. Depending upon demand and the time available at the Newark plant, DCI occasionally…
Will’s Welded Widgets (WWW) makes its Q Model from components R, S, and T. Component R is made from 2 units of component X and 2 unit of component Y. Component T is made from 1 unit of component V and 2 units of component Z. Calculate the gross requirements for each of the components when the company plans to build 70 of its Q Model if you have these inventories: 70 units of component T and 110 units of component R, using the given information: Item Usage per Parent Q - R 2 S 2 T 1 X 2 Y 2 V 1 Z 2 Q R S T X Y V Z Put the answers down into the table: (If answer is zero, please enter 0, do not leave any fields blank.) Product Gross Requirements Q…
You are asked to help your boss deciding who is considering whether to make or buy a part fora top most demanding product of the company.Your company can make the component for $40 per unit or buy it for $50 per unit from vendor.If the Company decides to make the component, it will require 4 hours of machine time tomake each part. The company has 2,000 hours of machine time available per month. Shouldthe company make or buy the component? How many max parts company can make?________________________________________________________________
VGHC, humanitarian aid service in the Sub-Saharan Africa, operates its laboratory on-site. The lab maintains an inventory of test kits for a variety of procedures. VGHC uses 780 A1C kits each year. Ordering costs are $15 and holding costs are $3 per kit per year. The new price list indicates that orders of fewer than 73 kits will cost $60 per kit, 73 through 144 kits will cost $56 per kit, and orders of more than 144 kits will cost $53 per kit. Determine the optimal order quantity and the total cost.
Hansen Controls has been awarded a contract for a large number of control panels. To meet this demand, it will use its existing plants in Houston and Tulsa, and consider new plants in Portland, St. Louis and Lexington. Finished control panels are to be shipped to Denver, Kansas City and Seattle. Pertinent information is given in the table. Denver 1 1- 2- 3- Sources 4- 5- Houston Tulsa Portland Construction St. Louis Cost Kansas City 2 ---- 1 Shipping Cost to Destination: Capacity Seattle 3 6 6 500,000 450,000 Lexington 400,000 Demand 14,000 13,000 18,000 We develop a transportation model as an LP that includes provisions for the fixed costs (construction costs in this case) for the three new plants. The solution of this model would reveal which plants to build and the optimal shipping schedule. Let xij = the number of panels shipped from source i to destination j y₁ = 1 if plant i is built, = 0 otherwise (i = 3, 4, 5) The constraint x21 + x22+x23 <= 13,000*y3 represents which of the…
A manufacturing cell makes three models of a product – AKC1011, BC0001, and AC0102. The daily demand for the three products are as follows: 200 of AKC1011, 500 BC0001, and 300 of AC0102. Develop a balanced mixed-model sequence that should be repeated throughout the day in order to meet demand.
In a large microelectronics plant, the assembly cell for circuit boards has a demand for 250 units an hour. Two feeder cells supply parts A and B to the assembly cell (one A and one B for each board). Standard containers that look like divided trays are used. A container will hold 24 As or 10 Bs. It takes 10 minutes to fill up a container with As and 24 minutes to fill up a container with Bs. Transit time to the assembly cell is 5 minutes for both A and B. No safety factor is used. Set up a kanban control system for the assembly process.
5. Meg Jones, the CEO of Ajax Computer Company, and Brad Smith, its Director of Operations, had been discussing how to increase the firm’s production of the company’s flagship XR58. The XR58 was particularly important because it sold 12,500 of them in the most recent year for $950, at a gross margin of 55%. After a lot of discussion, they decided to pursue an incentive system designed to increase production by 12% in the next year. After Brad discussed this possible incentive with the production team, the team determined that it could increase production by this amount without adding any more people or equipment. They believed they could accomplish this improvement primarily through process redesign. To incent them to do the hard work of process improvement, Brad told the team that it would receive 25% of the increased profits if it met the new production goal. For this team of 20 people, this would mean an additional compensation of _________ for each team member, on average, for…
Lisa makes two sorts of jewelry- Type A and Type B. Type A requires 90 minutes of curving and 1hours of assembly time. On the other hand, Type B requires 45 minutes of curving and 2 hours of assembly time. Lisa can sell Type A for $12 and Type B for $55. Given that Lisa has only 1000 hours of curving 500 hours of assembly time. How many of each type of Jewelry Lisa should make to maximize revenue? Keep in mind that Type A jewelry has to be at least twice the number of Type B jewelry. (Possible Answer: $9875) (Suggestion: Convert all the hours to minutes so that you do not end up mixing hours and minutes) CAN YOU DO THIS QUESTION IN THIS TEMPLATE ? Data Curving Assembly Price A 1.5 1 $ 12.00 B 0.75 2 $ 55.00 Model Decision Variables A 0 X B 0 Y…
Lisa makes two sorts of jewelry- Type A and Type B. Type A requires 90 minutes of curving and 1hours of assembly time. On the other hand, Type B requires 45 minutes of curving and 2 hours of assembly time. Lisa can sell Type A for $12 and Type B for $55. Given that Lisa has only 1000 hours of curving 500 hours of assembly time. How many of each type of Jewelry Lisa should make to maximize revenue? Keep in mind that Type A jewelry has to be at least twice the number of Type B jewelry. (Possible Answer: $9875). Do it in Exvel with solver (linear programming) (Suggestion: Convert all the hours to minutes so that you do not end up mixing hours and minutes)

SEE MORE QUESTIONS

Recommended textbooks for you

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

SEE MORE TEXTBOOKS