Answered: A factory manager is planning for the…

Elements Of Electromagnetics

7th Edition

ISBN:9780190698614

Author:Sadiku, Matthew N. O.

Publisher:Sadiku, Matthew N. O.

ChapterMA: Math Assessment

Section: Chapter Questions

Problem 1.1MA

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Question

A factory manager is planning for the manufacture of plywood to be sold overseas. The fixed cost of operation is estimated at $800,000 per month while the variable cost is $155 per thousand board feet of plywood. The selling price will depend on how much will be produced and sold and is determined by the relationship, price per thousand board feet, p = $600 – 0.05D, where D is the amount produced and sold in thousands of board feet. Determine the range of profitable production.

For profitable production, production must be at least housands of board feet per month, but not more than . (Round to the nearest unit.)

Expert Solution

Step 1: Write the given data.

$table row cell Fixed space cost comma space FC end cell equals cell 800000 space dollars space per space month end cell row cell Variable space cost comma VC end cell equals cell 155 space dollars space per space thousand space board space feet end cell row cell Price space per space thousand space board space feet comma space straight P end cell equals cell 600 minus 0.05 straight D end cell row blank blank cell Here comma space straight D space is space amount space produced space and space sold space in space thousands end cell end table$

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