Mutiple choices: 1. The primary purpose of the basic economic order quantity model shown below is 2-DS A) to calculate the reorder point, so that replenishments take place at the proper time B to minimize the sum of carrying cost and holding cost C) to maximize the customer service level Dị to minimize the sum of ordering cost and holding cost E) to calculate the optimum safety stock
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- A company has established that the relationship between the sales price for one of its products and the quantity sold per month is approximately p = 75 – 0.1D units (D is the demand or quantity sold per month and p is the price in dollars). The fixed cost is $1,000 per month and the variable cost is $30 per unit produced. Solve, a. What is the maximum profit per month related to thisproduct? b. What is the range of profitable demand during a month?Please answer with details on how to do it. A small company manufactures a certain product. Variable costs are $20 per unit and fixed costs are $10,875. The price demand relationship for this product is P = -0.25D + 250, where P is the unit sales price of the product and D is the annual demand. Total cost = fixed cost + Variable cost, TC = CF + CV Revenue = Demand x Price, TR = D x P Profit = Total Revenue – Total Cost, P = TR – TC a) Develop the equations for the total cost and total revenue. Find the breakeven quantity c) How many units must be sold to maximize profit? What is the company’s maximum profit?FG Manufacturers wants to determine the effectiveness of their pricing decisions for their product Lylo. As a consultant, you have been asked to develop cost functions that will assist in arriving at the optimal price that will enable the company to maximize profits. During the year, you were provided with the following demand and costs functions for the product: P = 400 – 6Q; where P is the unit selling price and Q is quantity in thousands of units. TC = 8Q2 + 36Q + 150; where TC is total cost in thousands of dollars. Determine the optimal sales revenue. Calculate the maximum profit. Briefly outline two (2) factors to be considered by managementswhen pricing decisions are being made.
- Seastrand Oil Company produces two grades of gasoline: regular and high octane. Both gasolines are produced by blending two types of crude oil. Although both types of crude oil contain the two important ingredients required to produce both gasolines, the percentage of important ingredients in each type of crude oil differs, as does the cost per gallon. The percentage of ingredients A and B in each type of crude oil and the cost per gallon are shown. Crude Oil Cost Ingredient A Ingredient B 1 $0.10 20% 60% 2 $0.15 50% 30% Each gallon of regular gasoline must contain at least 40% of ingredient A, whereas each gallon of high octane can contain at most 50% of ingredient B. Daily demand for regular and high-octane gasoline is 800,000 and 600,000 gallons, respectively. How many gallons of each type of crude oil should be used in the two gasolines to satisfy daily demand at a minimum cost? Round your answers to the nearest whole number. Round the answers for cost to the nearest…Which of the following statements is correct regarding the use of an MRP system? A. Many firms have insisted their suppliers also install MRP systems B. MRP has essentially eliminated the need for engineering change order systems C. With MRP, all component, part, and raw material inventories are managed with order-point systems D. All of the above are correctSelling price per large Snowie $ 5.00 Ice per Snowie $ 0.20 Spoon straw (need one per Snowie) $ 0.02 Styrofoam cup (need one per Snowie) $ 0.08 Napkin (need two per Snowie) $ 0.02 Servings per gallon of syrup 28 Cost per gallon of syrup (includes concentrate, preservative, and sugar) $ 8.00 Hourly rate for workers $ 10.00 Event registration fee per day $ 25.00 Electricity, insurance, maintenance, and permit costs per month $ 250.00 Kiosk rental cost per month $ 650.00 Purchase cost of two ice shavers (5-year life) $ 3,180.00 Purchase cost of a flavor station (5-year life) $ 1,080.00 a. Number of days you anticipate opening the kiosk per month 20 b. Number of hours you will work (no wages required) per day 6…
- A large company in the communication and publishing industry has quantified the relationship between the price of one of its products and the demand for this product as Price=160−0.02×Demand for an annual printing of this particular product. The fixed costs per year (i.e., per printing)=$47,000 and the variable cost per unit=$40. What is the maximum profit that can be achieved? What is the unit price at this point of optimal demand? Demand is not expected to be more than 4,000 units per year. The maximum profit that can be achieved is $? (Round to the nearest dollar.) The unit price at the point of optimal demand is $? per unit. 12) Production Quantity Model If a company has an ordering cost of $250, a carrying cost of $4 per unit, annual product demand of 6,000 units, and its production rate is 100 units per day. The company operates 320 days a year. The optimal order quantity is approximately Group of answer choices 1,027 756 962 866Calculate the missing values. Express dollar values rounded to two decimal places and break-even volumes rounded up to the next integer. Fixed Cost (FC) per month Variable Cost (VC) Selling Price (5) per unit Total Variable Cost at Break- Revenue (TR) even (TVC) per month Break-even Total Volume (x) per month per month at Break-Even per unit $8,700.00 $24.00 $36.00 $0.00 $0.00 $130,000.00 $470.00 1,030 S0.00 $0.00 $0.00 $740.00 $79.00 22 $0.00 50.00 S0.00 $31.00 $53.00 440 S0.00 S0.00 S0.00 -1°C
- (a) How would one estimate the full cost to an airline if one of its planes is held over for 24 hours in an airport for repair? (b) A company has spent $10 million to develop a product for market. During the product’s first two years, the company’s profit was $6 million. In recent years, the market was flooded by rival products and now the company is reassessing its product. If it abandons the product, it can recover $2 million of its original investment by selling its production facility. If it continues to produce the product, its estimated revenues for successive two-year periods will be $5 million and $3 million and its costs will be $4 million and $2.5 million. (After four years the plant will have zero resale value.) What would be the company’s best course of action? (c) Two decades ago, the global demand and supply curves for copper were: Qd = 15-10P and Qs = -3 + 14P, where Q is measured in millions of metric tons per year. Find the competitive price and quantity. Suppose that…A company manufacturers and sells x electric drills per month. The monthly cost and price-demand equations are C0) = 73000 + 60x, px) = 210 - 30' OsxS 5000. (A) Find the production level that results in the maximum revenue. Production Level - I (B) Find the production level that results in the maximum profit. Number of drills = (C) Find the price that the company should charge for each drill in order to maximize profit. Price =1) a) Solve the following inequalities:(i) 5(11 − ?) < ? + 49 (ii) 7? − 3 <10m + 23< 8 − 5m (iii) ?2 ≥ 15 − 2? b) The cost structure for iPhones are as follows, fixed cost of $25 and variable cost perunit of $2. The associated demand function isp = 20 − q .(i) Obtain an expression for the profit, π(q). (ii) Find the range of output which gives a profit of at least $31. c) Use Microsoft Word or Excel to solve the system of linear inequalities:r + 5t ≤ 57t – 2r ≤ 4 r ≥ 0(NB: clearly identify the solution set by placing a BIG enough ‘S’ to coverthat entire region).