An industrial manufacturing fim can produce up to 250 units per week of a machine tool; the selling price is $20 per unit. As discussed in class, draw linear cost and revenue functions to illustrate the optimization problem faced by the firm. The variable costs per unit are $12 and the weekly fixed cost is $1200. Calculate the Break-Even Volume (number of units) for this enterprise; in addition, what will happen to the firm's profit or loss figure if weekly sales are only 120 units?
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- The original cost for a distillation tower is $24,000 and the useful life of the tower is estimated to be 8 years. The sinking-fund method for determining the rate of depreciation is used and the annual interest rate for the depreciation fund is 6 percent. If the scrap value of the distillation tower is $4000, determine book value of equipment at the end of 5 years. Notice: If you can't find exponent (x), you can use the value 0.6The owner of a greenhouse and nursery is considering whether to spend $6,000 to acquire the licensing rights to grow a new variety of rosebush, which she could then sell for $6 each. Per-unit variable cost would be $3. How many rosebushes would she have to produce and sell in order to break even?Juicy-Juice Ltd. is planning to increase its juice supply for the fiscal year 2021 – 2022. With the expected increase in demand, it is projected that there is a need for additional space. Management must decide whether to rent a large building or construct a medium factory space. If they rent a large building and the demand is low, the net present value after deducting for building costs will be $230,000. If the demand is high, the company can continue using the old factory or rent an additional building to meet the current need. Renting an additional building would have a net present value of $301,000 and using the old factory would have a net present value of $530,000. The probability of high demand is 0.45 while the probability of low demand is 0.55. If a medium factory was constructed and the demand is high, the estimated net present value is $320, 000. If the demand is moderate, the net present value is $195, 000. If the demand turns out to be low, the net present value will be…
- Edwards Machine Tools needs to purchase a new machine. The basic model is slower but costs less, whereas the advanced model is faster but costs more. Profitability will depend on future demand. The following table presents an estimate of profits over the next three years. Demand Volume Decision Low Medium High Basic model $85,000 $115,000 $180,000 Advanced model $50,000 $115,000 $190,000 Fill in the table below for maximum and minimum profit payoffs under each model. Round your answers to the nearest dollar. Decision alternative Maximum Minimum Basic model $ $ Advanced model $ $ Calculate the amounts foregone by not adopting the optimal course of action for each possible demand level. Determine the maximum opportunity cost for each model. Fill in the table below. If your answer is zero, enter "0". Round your answers to the nearest dollar. Opportunity Loss Matrix Future events Decision alternative Low Medium High Maximum Basic model $ $ $ $ Advanced model $ $ $ $ Given the…Edwards Machine Tools needs to purchase a new machine. The basic model is slower but costs less, whereas the advanced model is faster but costs more. Profitability will depend on future demand. The following table presents an estimate of profits over the next three years. Demand Volume Decision Low Medium High Basic model $90,000 $110,000 $155,000 Advanced model $60,000 $135,000 $190,000 Fill in the table below for maximum and minimum profit payoffs under each model. Round your answers to the nearest dollar. Decision alternative Maximum Minimum Basic model $ $ Advanced model $ $ Calculate the amounts foregone by not adopting the optimal course of action for each possible demand level. Determine the maximum opportunity cost for each model. Fill in the table below. If your answer is zero, enter "0". Round your answers to the nearest dollar. Opportunity Loss Matrix Future events Decision alternative Low Medium High Maximum…Consider a model in which two products, x and y, are produced. There are 100 pounds of material and 80 hours of labor available. It requires 2 pounds of material and 1 hour of labor to produce a unit of x, and 4 pounds of material and 5 hours of labor to produce a unit of y. The profit for x is Php150 per unit, and the profit for y is Php250 per unit. (round off your answer to the nearest unit) a. Construct a linear programming model b. How many x and y will be produced to achieve the maximum profit. c. How much is the maximum profit in the problem.
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- Phillip Witt, president of Witt Input Devices, wishesto create a portfolio of local suppliers for his new line of keyboards.As the suppliers all reside in a location prone to hurricanes,tornadoes, flooding, and earthquakes, Phillip believes thatthe probability in any year of a " super-event" that might shutdown all suppliers at the same time for at least 2 weeks is 3%.Such a total shutdown would cost the company approximately$400,000. He estimates the " unique-event" risk for any of thesuppliers to be 5%. Assuming that the marginal cost of managingan additional supplier is $15,000 per year, how many suppliersshould Witt Input Devices use? Assume that up to three nearlyidentical local suppliers are available.Mary Jones and Jack Smart have joined forces to start M&J Food Products, a processor of packaged shredded lettuce for institutional use. Jack has years of food processing experience, and Mary has extensive commercial food preparation experience. The process will consist of opening crates of lettuce and then sorting, washing, slicing, preserving, and finally packaging the prepared lettuce. Together, with help from vendors, they think they can adequately estimate demand, fixed costs, revenues, and variable cost per 5-pound bag of lettuce. They think a largely manual process will have monthly fixed cost of $50,000 and a variable cost of $2.50 per bag. They expect to sell 75,000 bags of lettuce per month. They expect to sell the shredded lettuce for $3.25 per 5-pound bag. Jack and Mary has been contacted by a vendor to consider a more mechanized process. This new process will have monthly fixed cost of $125,000 per month with a variable cost of $1.75 per bag. Based on the above…II. + James Scott is considering the possibility of opening a small outfit shop on Sta. Maria District, a few blocks from St. Green Ville College. She has located on a mall that attracts students. To open a small shop, medium sized shop, or no shop at all are her options. The market can be good, average, or bad. The probabilities for these three possibilities are 30% for good market, 50% for an average market, and 20% for bad market. The profit or loss for the said market conditions are given in the table below; ALTERNATIVE Small Shop Medium Sized Shop No Shop GOOD 150,000 200,000 0 AVERAGE 50,000 70,000 0 a) Calculate the Expected Value of Perfect Information (EVPI) b) What do you recommend? BAD -80,000 -120,000 0