I want answer with explanation...I'll upvote you...Only typed answer I want... Your Lego furniture company makes Tables and Chairs. Below, you are given the startinginventory, selling price, and Bill of Materials (recipe, or construction requirements). You areto determine the number of Tables and Chairs to be built to maximize revenue. You mustmake 5 or more chairs for every table.Your answer will be the number of small pieces of wood by your production plan. (Thenumber of tables and chairs must be a whole number.)Use Scenario 2Scenario 1 Scenario 2 Scenario 3 Scenario 4 Scenario 58414$75$336651,400Large wood per Table 6Small wood per Table 6Large wood per Chair 2Small wood per Chair 4Revenue per Table $35Revenue per Chair $29Large wood inventory 300Small wood inventory 5004224$42$294005008435$88$45880775.6116$95$499001,000

Decision Variable: Suppose-T be the no. of units of Tables to be producedC be the no. of units of…

Answered: Your Lego furniture company makes…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 40P

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As 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)…
Create a spreadsheet to calculate your projected total costs, total revenues, and total profits for giving a seminar on cost estimating. Make the following assumptions: You will charge $600 per person for a two-day class. You estimate that 30 people will attend the class, but you want to change this input. Your fixed costs include $500 total to rent a room for both days, setup fees of $400 for registration, and $300 for designing a postcard for advertising. Youwill not include your labor costs for this estimate, but you estimate that you will spend at least 150 hours developing materials, managing the project, and giving the actual class. You would like to know what your time is worth given different scenarios. Youwill order 5,000 postcards, mail 4,000, and distribute the rest to friends and colleagues. Yourvariable costs include the following: $5perperson for registration plus 4 percent of the class fee per person to handle credit card processing; assume that everyone pays…
Give the logical sequence of steps for formulating and constructing a (structured) LP model.
you own a furniture store and you are in the process of planning the production of wooden chairs for the next six months. your demand forecast for wooden chairs for the next six months is 150,100,200,300,50,200. you currently stock 50 chairs in stock. one of your customers informed you that they would be returning 50 additional chairs to you and you expect to receive these returns in month 2. you currently employ 10 skilled employees who work entirely making chairs. in the last six months they were able to make 900 chairs working full time. you are considering two alternative production plans: constant workforce level for the next six months and meet all demand on time. adjust your workforce level only once over the next six months after month 0. ( no still backlogging). hiring cost per employee=$1000holding cost monthly per chair=$10 lay off cost per emloyee=$2000payroll cost monthly per employee=$2000 implement each alternative to obtain the least total cost. solve this question…
Dark beer is purchased by the case for $18.90. There are 24 bottles in each case, and each bottle contains 12 fluid ounces. You are making brine that requires 2 ½ quarts of dark beer. How much will the beer cost for the brine?
you own a furniture store and you are in the process of planning the production of wooden chairs for the next six months. your demand forecast for wooden chairs for the next six months is 150,100,200,300,50,200. you currently stock 50 chairs in stock. one of your customers informed you that they would be returning 50 additional chairs to you and you expect to receive these returns in month 2. you currently employ 10 skilled employees who work entirely making chairs. in the last six months they were able to make 900 chairs working full time. you are considering two alternative production plans: constant workforce level for the next six months and meet all demand on time. adjust your workforce level only once over the next six months after month 0. ( no still backlogging). hiring cost per employee=$1000holding cost monthly per chair=$10 lay off cost per emloyee=$2000payroll cost monthly per employee=$2000 implement each alternative to obtain the least total cost. solve this question with…
I need assistance with Chapter 15 Problem 7. I keep getting an it incorrecrt despite calculating the sum and dividing everything by the quanitity. Thank you
Choose the correct letter of answer If your objective is to maximize the profit for products x and y which earns a contribution margin of P2 and P3 respectively, your objective function must be: *a. P = 3x + 2yb. P = 2x + 3yc. P = x + y d. none of the above
4. A publisher prints copies of a popular weekly tabloid for distribution and sale. The fixed costs are $500 per print run, with each copy printed costing an additional $0.40. If C(q) is the cost function (in $) of the price of the print run as a function of copies printed, what is the formula for C(q)? Select one: a. C(q) = 500 + 0.4q b. C(q) = 500q + 0.4 c. C(q) = (500 + 0.4)q d. C(q) = 500 - 0.4q e. C(q) = 500q - 0.4 5. A hot dog vendor sells an average of 50 hot dogs during a Little League baseball game. If the sales are Normally distributed with a standard deviation of 7 hot dogs, what is the probability the vendor will sell between 45 and 65 hot dogs? Select one: a. 74.50% b. 92.36% c. 99.78% d. 174.50% e. 2.14 f. -0.71 g. 0.71
Suppose the utility function for goods x and y is given by U(x,y) = xy + y4.1. Calculate the uncompensated (Marshallian) demand functions for x and y and describe how the demand curves for x and y are shifted by changes in I or the price of the other good.4.2. Calculate the expenditure function for x and y.4.3. Use the expenditure function calculated in (4.2) to compute the compensated demand functions for goods x and y. Describe how the compensated demand curves for x and y are shifted by changes in income or by changes in the price of the other good.4.4. Given money income = 6, px = 2, py = 2, calculate CV, EV, and consumer surplus when px becomes 4.
As a prospective owner of a club known as theRed Rose, you are in terested in determining the volume of salesdollars necessary for the coming year to reach the break-evenpoint. You have decided to break down the sales for the club intofour categories, the first category being beer. Your estimate of thebeer sales is that 30,000 drinks will be served. The selling price foreach unit will average $1.50; the cost is $.75. The second majorcategory is meals, which you expect to be I 0,000 units with anaverage price of S I 0.00 and a cost of $5.00. The third major categoryis desserts and wine, of which you also expect to sell 10,000units, but with an average price of $2.50 per unit sold and a costof $1.00 per unit. The fina l category is lunches and inexpensivesandwiches, which you expect to total 20,000 units at an averageprice of $6.25 with a food cost of $3.25. Your fixed cost (i.e., rent,utilities, and so on) is $1 ,800 per month plus $2,000 per month forentertainment.a) What is your…
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?________________________________________________________________

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