A company sells sets of kitchen knives. A Basic Set consists of 2 utility knives and 1 chef's knife. A Regular Set consists of 2 utility knives, 1 chef's knife, and 1 slicer. A Deluxe Set consists of 3 utility knives, 1 chef's knife, and 1 slicer. The profit is $20 on a Basic Set, $50 on a Regular Set, and $70 on a Deluxe Set. The factory has on hand 400 utility knives, 200 chef's knives, and 100 slicers. (a) If all sets will be sold, how many of each type should be made up in order to maximize profit? What is the maximum profit? (b) A consultant for the company notes that more profit is made on a Regular Set than on a Basic Set, yet the result from part (a) recommends making up more Basic Sets than Regular Sets. She is puzzled how this can be the best solution. How would you respond?
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- Assume the demand for a companys drug Wozac during the current year is 50,000, and assume demand will grow at 5% a year. If the company builds a plant that can produce x units of Wozac per year, it will cost 16x. Each unit of Wozac is sold for 3. Each unit of Wozac produced incurs a variable production cost of 0.20. It costs 0.40 per year to operate a unit of capacity. Determine how large a Wozac plant the company should build to maximize its expected profit over the next 10 years.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?Products A,B, and C are sold door-to-door. A costs $ 3 per unit, take 10 minutes to sell (on the average) and costs $0.50 to deliver to customer. B costs $ 5, takes 15 minutes to sell, and is left with the customer at the time of sale. C costs $ 4, takes 12 minutes to sell, and costs $ 1 to deliver. During any week, a salesperson is allowed to draw up to $ 500 worth of A,B,C (at cost) and is allowed delivery expenses not to exceeds $ 75. If a salesperson’s selling time is not expected to exceed 30 hours (1,800 minutes) in a week, and if the salesperson profit (net after all expenses) is $ 1 each on a unit of A and B and $ 2 on a unit of C, what combination of sales of A, B, and C will lead to maximum profit, and what is the maximum profIt?
- Western Chassis produces high-quality polished steel and aluminum sheeting and two lines of industrial chassis for the rack mounting of Internet routers, modems, and other telecommunications equipment. The contribution margin (contribution toward profit) for steel sheeting is $0.40 per pound and for aluminum sheeting is $0.60 per pound. Western earns $12 contribution on the sale of a Standard chassis rack and $15 contribution on a Deluxe chassis rack. During the next production cycle, Western can buy and use up to 25,800 pounds of raw unfinished steel either in sheeting or in chassis. Similarly, 20,400 pounds of aluminum are available. One standard chassis rack requires 16 pounds of steel and 8 pounds of aluminum. A Deluxe chassis rack requires 12 pounds of each metal. The output of metal sheeting is restricted only by the capacity of the polisher. For the next production cycle, the polisher can handle any mix of the two metals up to 4,000 pounds of metal sheeting. Chassis manufacture…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 80 percent are considered good enough to sell. The other 20 percent are scrapped due to quality problems that are identified after they have completed the production process. Each guitar sells for $300. Because some of the production process is automated, each guitar only requires 10 labor hours. Labor is paid at $10/hour, materials cost is $40/guitar, and overhead is $2,000. a) Calculate the labor and multifactor productivities. b) After some study, the operations manager recommends 3 options to improve the company’s multifactor productivity: (1) increase the sales price by 10 percent, (2) improve quality so that only 10 percent are defective, or (3) reduce labor, material, and overhead costs by 10 percent. Which option has the greatest impact on the multifactor productivity measure?A Las Vegas, Nevada, manufacturer has the option to make or buy one of its component parts. The annual requirement is 20,000 units. A supplier is able to supply the parts for $10 per piece. The firm estimates that it costs $600 to prepare the contract with the supplier. To make the parts in-house, the firm must invest $50,000 in capital equipment, and the firm estimates that it costs $8 per piece to make the parts in-house. Assuming that cost is the only criterion, use breakeven analysis to determine whether the firm should make or buy the item. 1. What is the breakeven quantity? 2. Should the manufacturer Make or Buy? 3. What is the cost savings using your decision in number 2 (above)? Show the total cost for each scenario then the savings amount.
- Jays Office Supplies sells Printers, which it orders from Brands mart Inc in . Because of shipping and handling costs, each order must be for 5 printers. Because of the time it takes to receive an order, the company places an order every time the present stock drops to 5 Printers. It costs $50 to place an order. It costs the company $500 in lost sales when a customer asks for a Printer and the warehouse is out of stock. It costs $100 to keep each Printer stored in the warehouse. If a customer cannot purchase a Printer when it is requested, the customer will not wait until one comes in but will go to a competitor. The following probability distribution for demand for Printer has been determined: Questions 1.Simulate CWD 's ordering and sales policy for 20 weeks 2. Compute the average cost of the policy PLEASE NOTE I SENT THIS IN ALREADY BUT I REALIZED I LEFT OUT SOME VITAL INFORMATION AND AGAIN THIS IS NOT FROM ANOTHER SITE.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.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?
- A mixture of pellets is to be made containing x regular pellets, y large pellets and z extra large pellets. Cost, weight and volume data for each type of pellet are shown in the table. Is it possible to make mixture of 55 pellets at a cost of $0.85 if the mixture is to have 120 weight units and 130 volume units? If so, how many each type of pellet should be in the mixture? Pellet Type 5. Number of Cost per Pellet in Cents Weight Units per Pellet Volume Pellets Units per Pellet Regular Large Extra large 2 1 4 y 1 4 3A manufacturer has a production facility that requires 10,237 units of component JY21 per year. Following a long-term contract, the manufacturer purchases component JY21 from a supplier with a lead time of 6 days. The unit purchase cost is $31.4 per unit. The cost to place and process an order from the supplier is $168 per order. The unit inventory carrying cost per year is 12.2 percent of the unit purchase cost. The manufacturer operates 250 days a year. Assume EOQ model is appropriate. If the manufacturer uses a constant order quantity of 1,053 units per order, what is the annual holding cost? Use at least 4 decimal places.COMPUTING REORDER POINTS (ROP) FOR IPHONES WITH AND WITHOUT SAFETY STOCKAn Apple store has a demand (D) for 8,000 iPhones per year. The firm operates a 250-day working year.On average, delivery of an order takes 3 working days, but has been known to take as long as 4 days. Thestore wants to calculate the reorder point without a safety stock and then with a one-day safety stock.APPROACH c First compute the daily demand and then apply Equation (12-6) for the ROP.Then compute the ROP with safety stock.