A company manufactures paring knives and pocket knives. Each paring knife requires 3labor-hours, 7 units of steel, and 4 units of wood. Each pocket knife requires 6 labor-hours, 5 unitsof steel, and 3 units of wood. The profit on each paring knife is $3, and the profit on each pocketknife is $5. Each day the company has available 78 labor-hours, 119 units of steel, and 114 units ofwood. Suppose that the number of labor-hours that are available each day is increased by 27. Usesensitivity analysis to determine the effect on the optimal number of knives produced and on theprofit.The company should produceparing knives andpocket knives each day for a profit of S

This question is related to the topic decision making and this topic falls under the operations…

Answered: A company manufactures paring knives…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

See similar textbooks

Similar questions

A manufacturing plant produces a product 'A' that requires one unit of 'B' and ½ unit of 'C'. Each unit of 'B' is comprised of one unit of 'D', two units of 'E', and one unit of 'F'. Each unit of 'C' requires ½ unit of 'G' and three units of 'H'. The manufacturing lead times for the components are as follows: 'A' - two weeks, 'B' - one week, 'C' - two weeks, 'D' - two weeks, 'E' - three weeks, 'F' - one week, 'G' - two weeks, 'H' - one week. There are 20 units in stock for each of these components. 100 units of 'A' are needed for delivery in seven weeks: a) Develop the product structure and indexed bill of materials for the product. b) Create a gross and net requirements plan for the manufacturer of the product.
During an eight-hour shift, 750 non-defective parts are desired as a result of a manufacturing operation. The default operation time is 15 minutes. As the operators of machine are inexperienced, the actual time they take to perform the operation is 20 minutes, and, on average, a fifth of the parts that start to be manufactured are lost. Assuming that each one of the machines used in this operation will not be available for one hour in each shift, determine the number of machines needed.
A machine tool company conducts a job-training programme at a ratio of one for everyten trainees. The training programme lasts for one month. From past experience it has been found thatout of 10 trainees hired, only seven complete the programme successfully. (The unsuccessful traineesare released). Trained machinists are also needed for machining. The company's requirement for thenext three months is as follows:January: 100 machinists, February: 150 machinists and March: 200 machinists.In addition, the company requires 250 trained machinists by April. There are 130 trained machinistsavailable at the beginning of the year. Pay roll cost per month is:Each trainee Rs. 400/- per month.Each trained machinist (machining or teaching): Rs. 700/- p.m.Each trained machinist who is idle: Rs.500/- p.m.(Labour union forbids ousting trained machinists). Build a l.p.p. for produce the minimum costhiring and training schedule and meet the company’s requirement.
. A group of students organizes a bake sale in which they sell hundreds of cookies at $1per piece. They set up a table on campus and wait for students to come and purchasetheir cookies. Consider the following variables in this bake sale operation:1. Size of the cookies2. Weather conditions on campus3. Organization of the table4. Number of cookies sold5. Competition from other fund-raisers coinciding on campus6. Amount of advertising and shouting of the students at the bake sale table7. Number of students on campus that dayWhich of these variables is an output variable?a. 3b. 4c. 5d. None of the above
4) The making of rivet holes in structural steel members can be done by 2 methods. The first method consists of laying out the position of the holes in the members and using a drill press costing P100k. The machinist is paid P60 per hour and he can drill 80 holes per hour. The second method makes use of a multiple-punch machine costing P80k. The punch operator is paid P40 an hour and he can punch out 1 hole for 3 seconds. This method also requires an expense of P1.25 per hole to set the machine. (a) if all other costs are assumed equal, what is the total cost for each machine for 10k holes, assuming the total cost of each machine to be charged to these holes? (b) for how many holes will the costs be equal?
At a small but growing airport, the local airline company is purchasing a new tractor for a tractor-trailer train to bring luggage to and from the airplanes. A new mechanized luggage system will be installed in 3 years, so the tractor will not be needed after that. However, because it will receive heavy use, so that the running and maintenance costs will increase rapidly as the tractor ages, it may still be more economical to replace the tractor after 1 or 2 years. The following table gives the total net discounted cost associated with purchasing a tractor (purchase price minus trade-in allowance, plus running and maintenance costs) at the end of year i and trading it in at the end of year j (where year O is now). i 012 1 $13,000 j 2 $28,000 $17,000 3 $48,000 $33,000 $20,000 The problem is to determine at what times (if any) the tractor should be replaced to minimize the total cost for the tractors over 3 years. (a) Formulate this problem as a minimum cost flow problem by showing the…
At a small but growing airport, the local airline company is purchasing a new tractor for a tractor-trailer train to bring luggage to and from the airplanes. A new mechanized luggage system will be installed in 3 years, so the tractor will not be needed after that. However, because it will receive heavy use, so that the running and maintenance costs will increase rapidly as the tractor ages, it may still be more economical to replace the tractor after 1 or 2 years. The following table gives the total net discounted cost associated with purchasing a tractor (purchase price minus trade-in allowance, plus running and maintenance costs) at the end of year i and trading it in at the end of year j (where year O is now). i B 012 1 $13,000 j 2 $28,000 $17,000 3 $48,000 $33,000 $20,000 The problem is to determine at what times (if any) the tractor should be replaced to minimize the total cost for the tractors over 3 years. (a) Formulate this problem as a shortest-path problem by drawing a…
A retail store sold in the month of April 5,000 products that produced $45,000 in sales. In the month of May the company sold 6,000 products. The store workforce consists of four full-time workers who work 40-hour week. In April the store also had seven part-time workers at 10 hours per week, and in May the store had nine part-timers at 15 hours per week (assume four weeks in each month). Using sales dollars as the measure of output (assume the price of the product was the same for both months), what is the percentage change in labor productivity from April to May? Answer: 2.
Mack's guitar fabrication shop produces low cost, highly durable guitars for beginners. Typically, out of the 100 guitars that begin production each month, only 82 percent are considered good enough to sell. The other 18 percent are scrapped due to quality problems that are identified after they have completed the production process. Each guitar sells for $260. Because some of the production process is automated, each guitar only requires 88 labor hours. Each employee works an average of 160 hours per month. Labor is paid at $10 per hour, materials cost is $42 per guitar, and overhead is $4,200. a. The labor productivity ratio for Mack's guitar fabrication shop is $26.65 per hour. b. The multifactor productivity ratio for Mack's guitar fabrication shop is (Enter your response rounded to two decimal places.)
A machine part to be fabricated may be made from alloy of either of two metals. There is an order for 10,000 units. Metal A costs 3 pesos per kg, while Metal B costs 9 pesos per kg. If Metal A is used, the material per unit weighs 110 grams; for metal B, 30 grams. When metal A is used, 50 units can be produced per hour; for metal B, 80 units per hour. Metal B fabrication requires the aid of a tool costing P1,000, which will be useless after the 10,000 units are finished. The machine operator's wage is P50 per hour. If all other costs are identical, determine which material will be more economical to finish the 10,000-unit order. How much is the total cost difference between the use of metal A and metal B?
SIMPLEX METHOD A factory makes tennis rackets and cricket bats. A tennis racket takes 1.5 hours of machine time and 3 hours of craftsman’s time in its making while a cricket bat takes 3 hour of machine time and 1 hour of craftsman’s time. In a day, the factory has the availability of not more than 42 hours of machine time and 24 hours of craftsman’s time. If the profit on a racket and on a bat is Php 20.00 and Php 10.00 respectively, find the maximum profit of the factory when it works at full capacity.
Tyler bakes Cookies (C) and Breads (B) with the help of two ovens in his little bakery. The time taken by Oven A to bake each cookie batch is 14 minutes and the time taken by Oven B is 12 minutes. The time taken by Oven A to bake a batch of bread is 16 minutes and the time taken by Oven B is 17 minutes. Each week both Ovens can be used for 50 hours each to bake Cookies and Breads. The rest of the time is used for baking other products. Moreover, Tyler starts each week with a stock of 25 batches of Cookies and 30 batches of Breads because the Cookies and Breads he produces can be considered to be “fresh” for a maximum of 2 weeks. There is an average weekly demand of 70 batches of Cookies and 50 batches of Breads. For each batch of Cookies, Tyler makes $30 in profit and for each batch of Breads Tyler makes $25 in profit. If there are any “close to losing freshness” goods at the end of the week, Tyler sells them at heavily discounted prices on weekends with a profit of $5 per batch of…

SEE MORE QUESTIONS

Recommended textbooks for you

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Business in Action

Operations Management

ISBN:

9780135198100

Author:

BOVEE

Publisher:

PEARSON CO

Purchasing and Supply Chain Management

Operations Management

ISBN:

9781285869681

Author:

Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:

Cengage Learning

Production and Operations Analysis, Seventh Editi…

Operations Management

ISBN:

9781478623069

Author:

Steven Nahmias, Tava Lennon Olsen

Publisher:

Waveland Press, Inc.

SEE MORE TEXTBOOKS