A retired couple supplement their income by making fruit pies, which they sell to a local grocery store. During the month of September, they produce apple and grape pies. The apple pies are sold for $2.00 to the grocer, and the grape pies are sold for $4.00. The couple is able to sell all of the pies they produce owing to their high quality. They use fresh ingredients. Flour and sugar are purchased once each month. For the month of September, they have 3,000 cups of sugar and 3,900 cups of flour. Each apple pie requires 1/2 cups of sugar and 3 cups of flour, and each grape pie requires 2 cups of sugar and 3 cups of flour. a. Determine the number of grape and the number of apple pies that will maximize revenues if the couple working together can make an apple pie in 6 minutes and a grape pie in 3 minutes. They plan to work no more than 90 hours. (Round your answers to nearest whole number.) Apple Grape Revenue Pies Pies
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- A home improvement store sells hydrangea plants during the spring planting season. The hydrangeas cost the store $15 per unit, and sell to customers for $45, but any leftovers at the end of the season are salvaged to a local landscaper for $7/unit. A competitor has advertised that it guarantees 99% of customers find the product they’re looking for in stock. The competitor’s posted price for hydrangeas is $50, and they salvage to the same local landscaper for $7/ hydrangea plant. If the competitor’s advertised service level is correct for hydrangeas and they follow an optimal stocking policy, what does it imply their cost per hydrangea is?A purchasing agent for a particular type of silicon wafer used in the production ofsemiconductors must decide among three sources. Source A will sell the siliconwafers for $2.50 per wafer, independently of the number of wafers ordered. Source Bwill sell the wafers for $2.40 each but will not consider an order for fewer than3,000 wafers, and Source C will sell the wafers for $2.30 each but will not acceptan order for fewer than 4,000 wafers. Assume an order setup cost of $100 and anannual requirement of 20,000 wafers. Assume a 20 percent annual interest rate forholding cost calculations.c. If the replenishment lead time for wafers is three months, determine the reorderpoint based on the on-hand level of inventory of wafersA purchasing agent for a particular type of silicon wafer used in the production ofsemiconductors must decide among three sources. Source A will sell the siliconwafers for $2.50 per wafer, independently of the number of wafers ordered. Source Bwill sell the wafers for $2.40 each but will not consider an order for fewer than3,000 wafers, and Source C will sell the wafers for $2.30 each but will not acceptan order for fewer than 4,000 wafers. Assume an order setup cost of $100 and anannual requirement of 20,000 wafers. Assume a 20 percent annual interest rate forholding cost calculations.a. Which source should be used, and what is the size of the standing order?
- Any Company buys and resells a wide range of personal care products. Their ongoing challenges, like many of their competitors include shipping time for purchases, optimizing use of their storage space, and shipping time for sales to their customers. The company’s control over shipping time for purchases is limited. Their choice of suppliers has more impact on shipping time than any encouragement they can offer to those suppliers. Any Company uses multiple warehouses. Some are owned by the company, others are leased. The company uses contract shippers, FedEx/UPS, and the US Postal Service. Your task is to identify at least 4 KPIs you think will be relevant for Any Company to understand and improve their inventory management. Identify the data necessary for your KPIs as specifically as possible. You may use any KPIs we have mentioned in class or from the labs. Feel free to use others or to create your own. Your response does not need to include a description of graphs you might…A purchasing agent for a particular type of silicon wafer used in the production ofsemiconductors must decide among three sources. Source A will sell the siliconwafers for $2.50 per wafer, independently of the number of wafers ordered. Source Bwill sell the wafers for $2.40 each but will not consider an order for fewer than3,000 wafers, and Source C will sell the wafers for $2.30 each but will not acceptan order for fewer than 4,000 wafers. Assume an order setup cost of $100 and anannual requirement of 20,000 wafers. Assume a 20 percent annual interest rate forholding cost calculations.b. What is the optimal value of the holding and setup costs for wafers when theoptimal source is used?LPM Corp. produces and sells two types of frozen burgers, Turkey Burgers and Veggie Burgers. In the most recent month, the firm sold 12,000 Turkey Burgers and 8,000 Veggie Burgers. Turkey Burgers sold for $14.00 per box and variable costs were $7.40 per box. The Veggie Burgers sold for $16.00 per box and variable costs were $8.25 per box. The fixed expenses of the entire company were $41,160. If the sales mix were to shift toward the Turkey Burgers product line with total sales volume remaining constant at 20,000, the overall break-even point for the entire company:
- In the following scenario, what will your stockout costs be if you have 200 hammers in stock and you have orders of 80, 60, 50, 30, 120 You are a wholesaler selling hammers. You have a carrying cost for each hammer left in inventory of $.30 per unit, ordering cost of $60 per order placed, and a stockout cost of $30 per customer who is not fully satisfied and $3 per hammer for any orders not fulfilled (lost sales). Orders placed arrive in the sixth week after the week in which the order is placed. Smallest orders are filled first. $480 $1,080 $660 $450 $300As part of a campaign to promote its annual clearance sale, Excelsior Company decided to buy television advertising time on Station KAOS. Excelsior's television advertising budget is $111,000. Morning time costs $3000/min, afternoon time costs $1000/min, and evening (prime) time costs $12,000/min. Because of previous commitments, KAOS cannot offer Excelsior more than 6 min of prime time or more than a total of 25 min of advertising time over the 2 weeks in which the commercials are to be run. KAOS estimates that morning commercials are seen by 200,000 people, afternoon commercials are seen by 100,000 people, and evening commercials are seen by 600,000 people. How much morning, afternoon, and evening advertising time should Excelsior buy to maximize exposure of its commercials? morning min afternoon min evening minAs a potential owner of a club known as Club Salida, you are interested in determining the necessary volume of sales in dollars to reach the breakeven next year. You decided to break down the club's sales into. four categories, where beer is the first. Your estimate of the sale of beer is that it will serve 30,000 servings. The selling price per unit will average $ 1.50; its cost is $ .75. The second category is food, of which you expect sell 10,000 units with an average unit price of $ 10.00 and a cost of $ 5.00. The third category is desserts and wine, of which you also hope to sell 10,000 units, but with an average unit price of $ 2.50 and a cost of $ 1.00. The last category is inexpensive lunches and sandwiches, of which you expect sell a total of 20,000 units with an average price of $ 6.75 and a cost per unit of $ 3.25. Your fixed costs (i.e. rent, utilities, etc.) are $ 1,800 a month plus $ 2,000 a month for entertainment. a) What is your breakeven point in dollars per month? b)…
- Glams Touch is a budding cosmetics family business in Sekondi. The owners, Baaba Benson and Bernard Benson, must ensure that they judiciously use the store space available. They have never kept detailed inventory or sales records. They immediately place new items on the shelves as soon as shipment of goods arrives.Invoices from suppliers are only kept for tax purposes. During sales, they record the items numbers and the total amount received at the cash register. The owners use their own judgment in identifying items that need to be reordered. Baaba and Bernard rely on their own judgment in deciding the cosmetics that need to be restocked.Analyse the business implication of this situation. In your view, how could information systems be utilized to assist the Bensons manage Glams Touch. Enumerate some data that should be captured by the systems and what information outputs are to be churned out from the system.Barbara Flynn sells papers at a newspaper stand for $0.40. The papers cost her $0.30, giving her a $0.10 profit on each one she sells. From past experience Barbara knows that: a) 20% of the time she sells 150 papers. b) 20% of the time she sells 200 papers. c) 30% of the time she sells 250 papers. d) 30% of the time she sells 300 papers. Assuming that Barbara believes the cost of a lost sale to be $0.05 and any unsold papers cost her $0.30 and she orders 250 papers. Use the following random numbers: 14, 4, 13, 9, and 25 for simulating Barbara's profit. (Note: Assume the random number interval begins at 01 and ends at 00.) Based on the given probability distribution and the order size, for the given random number Barbara's sales and profit are (enter your responses for sales as integers and round all profit responses to two decimal places): Random Number Sales Profit 14 4 13 9 25James works for Peter's Computer Repair, owned & operated by Peter. As a computer technician, James has grown accustomed to friends & family members asking for assistance with their personal computers. In an effort to increase his income, James started a personal computer repair business that he operates out of his home on a part-time basis, working evenings & weekends. Because James is doing this "on the side" for family & friends, he does not want to charge as much as Peter's charges its customers. When Peter assigned James the task of developing the budget for his department, James increased the amount budgeted for computer parts. When the budget was approved, James purchased as many parts as the budget allowed, even when they were not needed. He then took the extra parts home to use in his personal business in an effort to keep his cost down & profits up. So far, no one at Peter's has asked about the expense of the parts because James has not allowed the actual…