c. What is the total profit contribution Kelson can earn with the optimal production quantities? Kelson Sporting Equipment, Inc. makes two types of baseball gloves: a regular model and a catcher's model. The firm has 900 hours of production time available in its cutting and sewing department, 300 hours available in its finishing department, and 100 hours available in its packaging and shipping department. The production time requirements and the profit contribution per glove are given in the following table: Model Regular model Catcher's model Production Time (Hours) Cutting & Sewing 1 3/2 Finishing 1/2 1/3 Packaging & Shipping 1/8 1/4 Assuming that the company is interested in maximizing the total profit contribution, answer the following: Profit/Glove $5 $8
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- The Tinkan Company produces one-pound cans for the Canadian salmon industry. Each year the salmon spawn during a 24-hour period and must be canned immediately. Tinkan has the following agreement with the salmon industry. The company can deliver as many cans as it chooses. Then the salmon are caught. For each can by which Tinkan falls short of the salmon industrys needs, the company pays the industry a 2 penalty. Cans cost Tinkan 1 to produce and are sold by Tinkan for 2 per can. If any cans are left over, they are returned to Tinkan and the company reimburses the industry 2 for each extra can. These extra cans are put in storage for next year. Each year a can is held in storage, a carrying cost equal to 20% of the cans production cost is incurred. It is well known that the number of salmon harvested during a year is strongly related to the number of salmon harvested the previous year. In fact, using past data, Tinkan estimates that the harvest size in year t, Ht (measured in the number of cans required), is related to the harvest size in the previous year, Ht1, by the equation Ht = Ht1et where et is normally distributed with mean 1.02 and standard deviation 0.10. Tinkan plans to use the following production strategy. For some value of x, it produces enough cans at the beginning of year t to bring its inventory up to x+Ht, where Ht is the predicted harvest size in year t. Then it delivers these cans to the salmon industry. For example, if it uses x = 100,000, the predicted harvest size is 500,000 cans, and 80,000 cans are already in inventory, then Tinkan produces and delivers 520,000 cans. Given that the harvest size for the previous year was 550,000 cans, use simulation to help Tinkan develop a production strategy that maximizes its expected profit over the next 20 years. Assume that the company begins year 1 with an initial inventory of 300,000 cans.Mukukulu Co uses a variance analysis system to monitor its performance. In a certain month the following data applies: – 1·4 tonnes of Raw material are needed at a cost of K60 per tonne – It takes 2 labour hours of work to produce 1 tonne of finished product and labour is normally paid K18 per hour. Idle time is expected to be 10% of hours paid; this is not reflected in the rate of K18 above. – 2 hours of variable overhead at a cost of K30 per hour – The standard selling price is K240 per tonne Budget information for the month is – Fixed costs were budgeted at K210,000 for the month – Budgeted production and sales were 8,400 tonnes The actual results for the month were as follows: Actual production and sales were 8,000 tonnes – 12,000 tonnes of raw material were bought and used, costing K660,000 – 15,800 labour hours were paid for, costing K303,360 – 15,000 labour hours were worked – Variable production overhead cost K480,000 – Fixed costs were K200,000 – Sales revenue achieved was…Dana’s Ribbon World makes award rosettes. Following is information about the company: Variable cost per rosette $ 2.00 Sales price per rosette $ 6.00 Total fixed costs per month $ 6000.00 Required: 1. Suppose Dana’s would like to generate a profit of $1,120. Determine how many rosettes it must sell to achieve this target profit. 2. If Dana’s sells 2,140 rosettes, compute its margin of safety in units, in sales dollars, and as a percentage of sales. 3. Calculate Dana’s degree of operating leverage if it sells 2,140 rosettes. 4a. Using the degree of operating leverage, calculate the change in Dana’s profit if unit sales drop to 1,819 units. 4b. Prepare a new contribution margin income statement to verify change in dana's profit.
- XYZ Leather Company manufactures and sells two products, wallets and belts, in its two-department plant. Operating data pertaining to the two products are as follows: Wallets Belts Selling price per unit P30 P50 Cost per unit: Variable manufacturing costs P8 P15 Variable marketing costs P2 P3 Fixed manufacturing costs P5 P5 Fixed marketing costs P6 P1 Cutting Finishing…Please do not give solution in image format thanku In 2018, the government of Ghana launched operation one district one factory (IDIE). Based on IDIF, Ekumfi Pineapple Factory Co. Ltd (EPF) was launched. In 2019 the management of ERF started production with 100 workers per shift, each of the three shifts working 8 hours per day. Every working day the payroll cost was GHIC 20,000 and overhead expenses amounted to GHC 5000 and material cost GHC 4000. At the end of the first year, the company produced 1,000,000 boxes of pineapple juice. During the second year, EPF acquired a loan from Exim Bank to purchase a new plant. After the introduction of the new plant, the management reduced the size of its workers per shift to 80, each working 8 hours per day, with the payroll cost reducing to GHC 18,000 and overhead expenses also reducing to GHC 4000 and material cost rising to GHC 6000. Production rose to 1,200,000 boxes. Regard yourself as the Operations Manager of EPF: a) What are the…Fedori Corporation has a Parts Division that does work for other Divisions in the company as well as for outside customers. The company's Machinery Division has asked the Parts Division to provide it with 4,000 special parts each year. The special parts would require P23.00 per unit in variable production costs. The Machinery Division has a bid from an outside supplier for the special parts at P37.00 per unit. In order to have time and space to produce the special part, the Parts Division would have to cut back production of another part-the YR24 that it presently is producing. The YR24 sells for P40.00 per unit, and requires P28.00 per unit in variable production costs. Packaging and shipping costs of the YR24 are P3.00 per unit. Packaging and shipping costs for the new special part would be only P1.50 per unit. The Parts Division is now producing and selling 15,000 units of the YR24 each year. Production and sales of the YR24 would drop by 20% if the new special part is produced for…
- Digital Imaging has hired your Analytics Consulting Firm (SJU Analytics) to help determine how many units of each printer they should produce to maximize profit. Construct a Simple Linear Programing Analysis using Excel SOLVER Prepare a presentation to DI’s president presenting your findings and recommendations. Digital Imaging’s Leadership team has providing the following information: Digital Imaging (DI) produces color printers for both the professional and consumer markets. The DI consumer division recently introduced two new color printers. The DI-910 model can produce a borderless color print in approximately 37 seconds. The more sophisticated and faster DI-950 can even produce a borderless color print. Financial projections show profit contributions of $42 for each DI-910 and $87 for each DI-950. The printers are assembled, tested, and packaged at DI’s plant located in New Bern, North Carolina. This plant is highly automated and uses two manufacturing lines to produce the…Structure Furniture, manufactures coffee tables. Structure Furniture has a policy of adding a 20% markup to full costs and currently has excess capacity. The following information pertains to the company's normal operations per month: Output units Machine-hours 30,000tables 8,000hours Direct manufacturing labour-hours 10,000hours Direct materials per unit Direct manufacturing labour per hour Variable manufacturing overhead costs Fixed manufacturing overhead costs Product and process design costs Marketing and distribution costs S100 S12 $322,500 $1,200,000 $900,000 $1,125,000 a) Structure Furniture is approached by an overseas customer to fulfill a one-time-only special order for 1,000 units. All cost relationships remain the same except for a one-time setup charge of $20,000. No additional design, marketing, or distribution costs will be incurred. What is the minimum acceptable bid per unit on this one-time-only special order? b) What is the Structure Furniture full product cost for…Courtesy Calls makes telephone calls for businesses and charities. A profit of $0.50 is made for each business call and $0.40 for each charity call. It takes 4 min (on average) to make a business call and 6 min (on average) to make a charity call. If there are 240 min of calling time to be distributed each day, how should that time be spent so that Courtesy Calls makes a maximum profit? What changes, if any, occur in the maximum profit and optimal production policy if they must make at least 12 business and 10 charity calls every day?
- A company has limited machine hours available per week, in result the company is able to produce only 3 of 4 products. The company needs to increase the number of hours worked using the existing machinery by working overtime. Such overtime would be paid at a premium of 50% above normal labour rates, and variable overhead costs would be expected to increase in proportion to labour costs. Critically discuss any expected increase in contribution and any issues (in particular in regard to overtime working) that could arise and would need to be resolved. What would be advantages and disadvantages of that and how this will affect the quanitity and the quality of the production and the whole process.De Mar, a plumbing, heating, and air-conditioning companylocated in Fresno, California, has a simple but powerful product strategy: Solve the customer’s problem no matter what, solvethe problem when the customer needs it solved, and make sure thecustomer feels good when you leave . De Mar offers guaranteed,same-day service for customers requiring it. The company provides 24-hour-a-day, 7-day-a-week service at no extra charge forcustomers whose air conditioning dies on a hot summer Sundayor whose toilet overflows at 2:30 A.M. As assistant service coordinator Janie Walter puts it: “We will be there to fix your A/C onthe fourth of July, and it’s not a penny extra. When our competitors won’t get out of bed, we’ll be there!”De Mar guarantees the price of a job to the penny before thework begins. Whereas most competitors guarantee their work for30 days, De Mar guarantees all parts and labor for one year. Thecompany assesses no travel charge because “it’s not fair to chargecustomers for…Cox Electric makes electronic components and has estimated the following for a new design of one of its products. Fixed cost = $23,750 Material cost per unit = $0.17 • Labor cost per unit = $0.12 • Revenue per unit = $0.67 Note that fixed cost is incurred regardless of the amount produced. Per-unit material and labor cost together make up the variable cost per unit. Assuming that Cox Electric sells all that it produces, profit is calculated by subtracting the fixed cost and total variable cost from total revenue. Construct an appropriate spreadsheet model to find the profit based on a given production level and use the spreadsheet model to answer these questions. (a) Construct a one-way data table with production volume as the column input and profit as the output. Breakeven occurs when profit goes from a negative to a positive value; that is, breakeven is when total revenue = the total cost, yielding a profit of zero. Vary production volume from 0 to 100,000 in increments of 10,000.…