Vollmer Manufacturing makes three components for sale to refrigeration companies. The components are processed on two machines: a shaper and a grinder. The times (in minutes) required on each machine are as follows:
Machine
Component Shaper Grinder
1 5 5
2 6 4
3 4 3
The shaper is available for 115 hours, and the grinder is available for 95 hours. No more than 210 units of component 3 can be sold, but up to 1050 units of each of the other components can be sold. In fact, the company already has orders for 525 units of component 1 that must be satisfied. The profit contributions for components 1, 2, and 3 are $7, $6, and $10, respectively.
Required:
a. Formulate and solve for the recommended production quantities.
b. What are the objective coefficient ranges for the three components? Interpret these ranges for company management.
c. What are the right-hand-side ranges? Interpret these ranges for company management.
d. If more time could be made available on the grinder, how much would it be worth?
e. If more units of component 3 can be sold by reducing the sales price by $4, should the company reduce the price?
Answers
a. The recommended production quantities are 525 units of component 1, 650 units of component 2, and 210 units of component 3. The optimal solution yields a total profit of $8,490.
b. The objective coefficient ranges for the three components are as follows: component 1 ranges from $7 to $∞, component 2 ranges from $4.50 to $8, and component 3 ranges from $10 to $∞. These ranges indicate the range of profit contribution per unit for each component that would still result in the same optimal solution. For example, if the profit contribution for component 2 were to increase from $6 to $8, the optimal solution would still recommend producing 650 units of component 2.
c. The right-hand-side ranges for the availability of the shaper and grinder are as follows: the shaper can range from 115 to 190 hours, and the grinder can range from 95 to 118 hours. These ranges indicate the range of availability for each machine that would still result in the same optimal solution. For example, if the availability of the grinder were to increase from 95 to 100 hours, the optimal solution would still recommend producing 210 units of component 3.
d. The shadow price for the grinder is $0.50 per minute. Therefore, if one more hour (60 minutes) were made available on the grinder, it would be worth an additional profit contribution of $30 (60 × $0.50).
e. To determine if the company should reduce the price of component 3, the reduced cost contribution per unit must be compared to the reduced price. If the reduced cost contribution is greater than the reduced price, the company should not reduce the price. However, if the reduced cost contribution is less than the reduced price, the company should reduce the price.
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Related Questions
Indicate (1) the type of adjustment (prepaid expense, accrued revenue, and so on) and (2) the status of the accounts before adjustment (overstated or understated).
a. Supplies of $400 are on hand. Supplies account shows $1,600 balance.
b. Services performed but unbilled total $700.
c. Interest of $300 has accumulated on a note payable.
d. Rent collected in advance totaling $1,100 has been earned.
Answers
Type of adjustment are Prepaid expense, Accrued revenue, Accrued expense, Deferred revenue respectively.
a. Type of adjustment: Prepaid expense
Status of accounts before adjustment: Overstated
Explanation: The supplies account is showing a balance of $1,600, which is higher than the actual supplies on hand worth $400. Therefore, the supplies account needs to be adjusted to accurately reflect the actual supplies on hand.
b. Type of adjustment: Accrued revenue
Status of accounts before adjustment: Understated
Explanation: Services have been performed but not yet billed, resulting in unrecorded revenue of $700. To reflect this revenue in the appropriate accounting period, an adjustment is needed to recognize the accrued revenue.
c. Type of adjustment: Accrued expense
Status of accounts before adjustment: Understated
Explanation: Interest has accumulated on a note payable but has not been recorded. As a result, the expense is understated. An adjustment is required to recognize the accrued interest expense.
d. Type of adjustment: Deferred revenue
Status of accounts before adjustment: Overstated
Explanation: Rent collected in advance totaling $1,100 has been earned, but the revenue has not yet been recognized. The rent collected in advance account is overstated and needs to be adjusted to reflect the earned revenue.
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if your purchases of shoes increase from 9 pairs per year to 11 pairs per year when your income increases from $19,000 to $21,000 a year, then, for you, shoes are considered a(n):
Answers
“If your purchases of shoes increase from 9 pairs per year to 11 pairs per year when your income increases from $19,000 to $21,000 a year, then, for you, shoes are considered a(n):” is “normal good”.
The given scenario can be explained with the help of the concept of “income elasticity of demand”. Income elasticity of demand is the degree of responsiveness of quantity demanded for a product or service to a change in the income of the people. The formula for calculating income elasticity of demand is given by:
%ΔQd / %Δincome
Where,
%ΔQd = Percentage change in quantity demanded
%Δincome = Percentage change in income
Now, from the given scenario, it can be interpreted that there is an increase in income from $19,000 to $21,000 and there is also an increase in the number of shoes purchased from 9 pairs per year to 11 pairs per year.
Now,%ΔQd = [(11-9)/9] × 100%ΔQd = 22.22%
%Δincome = [(21,000-19,000)/19,000] × 100
%Δincome = 10.53%
Putting these values in the above formula,%ΔQd / %Δincome = 22.22 / 10.53
%ΔQd / %Δincome = 2.11
This means that for every 1% increase in income, the quantity demanded for shoes will increase by 2.11%.
Now, according to the degree of responsiveness of quantity demanded for the product to a change in the income of the people, the product can be categorized as follows:
If %ΔQd > %Δincome, then the product is said to be income-elastic
If %ΔQd < %Δincome, then the product is said to be income-inelastic
If %ΔQd = %Δincome, then the product is said to be income-unitary
Since, %ΔQd > %Δincome, therefore the product is said to be income-elastic. However, there are two types of income-elastic products:
i) Normal goods: If the income-elasticity of demand is positive but less than 1, then the product is said to be a normal good.
ii) Luxury goods: If the income-elasticity of demand is greater than 1, then the product is said to be a luxury good. So, from the above calculation, it can be interpreted that %ΔQd / %Δincome = 2.11 (which is positive) but less than 1, therefore the product is said to be a normal good
.Hence, for you, shoes are considered a normal good.
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What is NOT an advantage of being an entrepreneur?
Answers
Answer: Disadvantages include a lack of guarantee of success and the heightened responsibility of owning a business
Answer:
The advantages of entrepreneurship include the ability to shape one's own business, control of one's own working habits, and significant stock in the venture. Disadvantages include a lack of guarantee of success and the heightened responsibility of owning a business.
Explanation:
true or false: despite the similar approaches for accounting for taxation between u.s. gaap and ifrs, differences in reported amounts for deferred taxes are among the most frequent.
Answers
The statement “despite the similar approaches for accounting for taxation between the U.S. GAAP and IFRS, differences in reported amounts for deferred taxes are among the most frequent” is true because IFRS requires the use of a balance sheet approach to deferred tax accounting, while US GAAP uses an income statement approach.
Although US GAAP and IFRS have similar approaches to accounting for taxation, differences in reported amounts for deferred taxes are among the most frequent.
This is because IFRS requires the use of a balance sheet approach to deferred tax accounting, while US GAAP uses an income statement approach. This can result in differences in the timing and amounts of recognized deferred tax assets and liabilities, as well as differences in the measurement of temporary differences, statement is true.
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len contracts to work for Social Media Corporation (SMC) during April for $4,500. On april 31, SMC cancels the contract. len declines a job of a different type and rank with Tech Talk, Inc., which would have paid $3,500. len files a suit against SMC. As compensatory damages, len can recover
a. $3,500.
b. $0.
c. $4,500.
d. $1,000 in shares of SMC stock.
Answers
c. $4,500. Len can recover compensatory damages of $4,500, which is the amount of the canceled contract. The fact that Len declined a job offer from another company is not relevant to the damages owed by SMC.
Len is entitled to compensation in the sum of $4,500, which is equal to the contract's canceled value by SMC. When one party cancels a contract, the other party may be entitled to compensation, sometimes known as compensatory damages, equal to the amount they would have received if the contract had been performed. In this instance, Len had a legitimate contract with SMC for $4,500; nevertheless, SMC terminated the contract, depriving Len of the chance to be paid that sum. Len turned down a position with Tech Talk, Inc. that would have paid $3,500, but this is unrelated to the losses SMC is responsible for.
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What's the current yield of an 8.15 percent coupon corporate bond quoted at a price of 94.30? Please show all work and formulas.
Answers
The current yield of an 8.15 percent coupon corporate bond quoted at a price of 94.30 is 8.64%.
The current yield is the annual return on the bond's prevailing market price. The formula for calculating the current yield is as follows: Current Yield = Annual Coupon Payment / Market Price of Bond = Annual Coupon Payment / (100 × Bond Quotation).
Given the bond coupon rate of 8.15 percent and quoted price of 94.30%, the annual coupon payment will be calculated by multiplying the bond's face value of $1,000 by the coupon rate, 8.15% of $1,000 = 8.15/100 * 1000 = $81.50.
Using the formula for calculating the current yield: Current Yield = Annual Coupon Payment / Market Price of Bond = $81.50 / (100 × 94.30) = $81.50 / 9430 = 0.0086 = 8.64%. The current yield of an 8.15 percent coupon corporate bond quoted at a price of 94.30 is 8.64%.
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Which of the following would be a business selling the same thing in another country?
Answers
if I'm wrong please give more details? and ice cream parlour?
Answer:
I think cafe or Hotel will be the best business in another county.
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Answers
Answer: can i be your friends
Explanation:
on incorporation, dee, inc., issued common stock at a price in excess of its par value. no other stock transactions occurred except treasury stock was acquired for an amount exceeding this issue price. if dee uses the par value method of accounting for treasury stock appropriate for retired stock, what is the effect of the acquisition on the following?
Answers
On incorporation, Dee Inc., issued common stock at a price in excess of its par value. The effect of the acquisition on the following is provided below: Effect on the balance sheet of Dee Inc. Treasury stock acquired is considered as a contra-equity account, which is used to record the buyback of the shares.
It represents the number of shares that Dee has repurchased, but not retired. Dee Inc. has acquired treasury stock for an amount exceeding its issue price.
Therefore, the Treasury stock account will increase, and it will be reflected in the balance sheet under stockholders' equity as a deduction from the total of common and preferred stock. Par value method of accounting for treasury stock appropriate for retired stock Par value method of accounting for treasury stock is used when the company retires the stock.
It is a method where treasury stock is debited at par value for the cost of acquisition and credited at par value when it is retired. The difference between the acquisition and retirement cost is transferred to paid-in capital. As per the given information, Dee Inc. is using the par value method of accounting for treasury stock appropriate for retired stock. Therefore, the treasury stock will be recorded at its par value on the balance sheet when it is retired. When Dee Inc. retires the treasury stock, the treasury stock account will decrease, and the paid-in capital account will increase.
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19. You buy lunch every day of the week at a local café. What is MOST LIKELY true about this purchase?
There is no other alternative option to making this purchase each day.
This is a small purchase, so it makes no effect on your financial situation.
This purchase is a necessity because you have to eat lunch every day to survive.
↓
This is a small purchase, but it adds up over time to affect your financial situation.
Answers
This is a small purchase, but it adds up over time to affect your financial situation.
An unsecured loan...
typically has lower interest rates than a secured loan
is less difficult to qualify for than a secured loan
is connected to collateral, which can be taken by the lender if the loan is not paid
is not connected to collateral and, therefore, a higher risk for lenders
Answers
Answer:
is not connected to collateral and, therefore, a higher risk for lenders
Explanation:
Unsecured loans are the loans issued without any securities attached to them. The lender relies on the borrower's creditworthiness as the basis for granting the loan. Unsecured loans are mostly available to salaried workers whose pay is processed by the lending institutions.
Unsecured loans pose a higher risk to the lender because they are not backed by any collateral. For this reason, they attract a higher interest rate than secured loans.
Answer:
D
Explanation:
took the test
The production cost in GHC per week of producing x computers is given by
\(c(x) = 4000 - 32x + 0. 08 {x}^{2} + 0. 00006 {x}^{3} \)
and the demand function for the computers is given by
\(p(x) = 250 + 0. 02x - 0. 001 {x}^{2} \)
What is marginal cost, marginal product, and marginal revenue. When
\(x = 200 \)
and
\(x = 400\)
what does theses numbers tells you about marginal cost, marginal product and marginal revenue
Answers
When x = 200 and x = 400, you can calculate the values of marginal cost, marginal product, and marginal revenue at these specific production levels. These numbers will provide insights into the changes in cost, production, and revenue associated with increasing the quantity produced from 200 to 400 units.
Marginal cost represents the additional cost incurred by producing one more unit of output. It is calculated as the derivative of the cost function with respect to the quantity produced (x). In this case, the marginal cost can be obtained by taking the derivative of the cost function c(x).
Marginal product refers to the additional output produced by employing one more unit of input. It is calculated as the derivative of the production function with respect to the quantity produced (x).
However, the given problem does not provide a production function explicitly, so it is not possible to determine the marginal product.Marginal revenue represents the additional revenue generated by selling one more unit of output.
It is calculated as the derivative of the revenue function with respect to the quantity sold (x). In this case, the revenue function can be obtained by multiplying the price function p(x) by the quantity produced (x).
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in the orange market, what impact would an increase in the price of oil that orange growers burn to keep oranges from freezing in the winter have on the market? group of answer choices it would shift the supply curve to the right. it would shift the supply curve to the left. it would shift the demand curve to the right. it would shift the demand curve to the left.
Answers
An increase in the price of the oil that orange growers burn to prevent the oranges from freezing in winter shifts the supply curve to the left. In economics, the supply curve represents the relationship between the price of a good and the quantity of that good that producers are willing and able to supply. Increased production costs, such as the cost of the oil used to keep the oranges from freezing, will make it more expensive for citrus growers to produce oranges. As a result, they are willing to supply fewer oranges at any price, causing the supply curve to shift to the left.
This shift of the supply curve to the left will result in a higher market price for oranges and a reduction in the quantity supplied of oranges, assuming that the demand for oranges remains unchanged. If the demand for oranges increases, the market price can increase even further, resulting in a more pronounced shift of the supply curve to the left.
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The primary disadvantage of the percentage-of-sales budgeting method occurs when
A. a firm's sales increase.
B. money is leftover when the budgeting period ends.
C. there is not enough time to properly execute the method.
D. demand for the firm's products increase.
E. a firm's sales decline.
Answers
The primary disadvantage of the percentage-of-sales budgeting method occurs when a firm's sales increase.The percentage-of-sales budgeting method is a budgeting method that relies on a predetermined percentage of the previous year's sales or projected sales as a basis for determining the current year's budget.
It is the most commonly used budgeting method, but it has certain drawbacks.The primary disadvantage of the percentage-of-sales budgeting method occurs when a firm's sales increase. When a company's sales rise, the amount of money allocated to the budget increases as well, implying that the firm is devoting more money to each cost group than it should.
This is problematic since not all costs rise or fall in tandem with sales, and some costs may remain constant regardless of sales. This means that when sales rise, the budget overestimates expenses, resulting in an inflated budget and lower profit margins, and it becomes difficult to compare actual expenses to the budget. The correct option is A.
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a scenario involving functions of a business
Answers
Scenario Analysis
Scenario AnalysisExploring Different Futures
Imagine that you're facing a really important decision. It's one that could fundamentally affect your personal life, or determine the future of your business.
You've crunched the numbers and looked at the data, and everything seems fine. But deep down, you dread what might go wrong.
No one has a foolproof vision of the future, and even if your instincts are good, the outcomes that you predict could be disrupted by a range of different factors. On the other hand, things may turn out far better than you expected!
In this article, we explore how Scenario Analysis can bring these hopes and fears into the open, give you a rational framework for exploring them, and enable you to make the best possible choices.
Types of Scenarios
Challenging your assumptions about the future, and basing your plans and decisions on the most likely outcomes, means that your decisions will more likely be sound, even if circumstances change.
But what are the most likely outcomes? Author and corporate strategist Peter Schwartz, one of the pioneers of scenario thinking, identified the following common scenarios:
Evolution: all trends continue as expected. Things gently move toward a predictable end point.
Revolution: a new, disruptive, factor fundamentally changes the situation.
Cycles: what goes around comes around. Boom follows bust follows boom follows bust.
Infinite Expansion: exciting trends continue. Think of the computer industry in the 1950s.
Lone Ranger: the triumph of the lone hero against the forces of inertia.
My Generation: changes in culture and demographics affect the situation.
The debit balance in a nominal account shows:
a) Gains b) Expenses
c) Assets d) None of the above
(answer the above question correctly)
Answers
Write a short paragraph describing the benefits of working as a team to complete a project.
Answers
Answer:
A group of people who have to achieve common goal is known as team. If we work in team it increases our creativity and learning, it also builds trust. It boost the particular person when we work in team. We can also learn faster. There are more chances of getting success in particular area if we work in team. As there is saying, " together we can achieve more what each of us can achieve." It also enhances productivity and capability.
One common element of all mass media (whether it is a news article, TV commercial, book or anything intended for a large audience) is that the message is:
A. Emotional
B. Objective
C. Constructed
Answers
Answer:
C
Explanation:
most of mass media tries to advertise the people that are watching or looking at it a product of some sort
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Just keep pushing yourself you’re almost there! but remember don’t be harsh on yourself and take your time. Take care of yourself and make sure that you’re there for yourself too just like you’re there for others. YOU matter! no matter what you think. we will all get through hard times and it doesn’t matter if it takes years, months, weeks, days, once again it doesn’t matter because You will get through it and you’ll be so proud of yourself just like I am. Don’t give up now. if others try put you down show them that you’re unbreakable and that you’re more worth then they think. Harsh words don’t define your worth. you’re amazing and you are you. you being different from others but that doesn’t mean you’re any less important. you are you and that’s what makes you so unique. Im proud of you Keep going And spread the love
Answers
Answer:
. ...........
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Select the correct answer.
Kelly paid salary to her employees at the end of the month. What will be the journal entry for the given financial transaction?
A. Employee Account - Debit
Employee Account - Debit
B.
C. Salary Account - Debit
D. Salary Account - Debit
Cash Account - Credit
Kelly Account - Credit
Cash Account - Credit
Kelly Account - Credit
Reset
Next
Answers
Answer:
Explanation
Answer will be
C
Salary Account Debit
Cash Account Credit
Identify four economic benefits of hosting a rugby world cup
Answers
Answer:
yes ,i think that answer
Kodiak Industries purchased a new machine on July 1, 2018 for $6000. This machine is expected to operate for 6 years after which it will be sold for salvage value (estimated to be $1200). It depreciates this asset under the straight-line method. Kodiak has a 12/31 fiscal year end.
What is the net book value of the machine going to be on 12/31/2019?
(hint: pay attention to dates). [a1] Do not use a $ or comma when entering your answer, just type the number.
Answers
The net book value of the machine going to be on 12/31/2019 is $4800.
Kodiak Industries purchased a new machine on July 1, 2018 for $6000.
Machine is expected to operate for 6 years
Salvage value estimated to be $1200.
Depreciates this asset under the straight-line method.
Kodiak has a 12/31 fiscal year end.
Since the machine was purchased on July 1, 2018,
It will be in operation for
= 6 - 1.5
= 4.5 years as of December 31, 2019.
We can calculate the annual depreciation using the formula:
Annual Depreciation
= (Cost of the asset - Salvage value) / Useful life in years
= ($6000 - $1200) / 6
= $800
Net book value at 12/31/2019
= Cost - accumulated depreciation.
Accumulated Depreciation
= Annual Depreciation x 1.5 years
= $800 x 1.5
= $1200
Net book value at 12/31/2019
= Cost - accumulated depreciation.
= $6000 - $1200
= $4800
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the margin of safety for the miter saw is?
A. two inches
B. three inches
C. four Inches
D. six inches
Answers
Answer:
D six inches
Explanation:
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Answer: D. Six inches MINIMUM margin of safety at all times.
The senior managers of Clockence, a clock manufacturing company, have a disagreement about the quantity of inventory to be allotted to each production team. Each of them views the problem differently, but they are willing to discuss it and arrive at the best possible solution. In this scenario, the conflict among the senior managers at Clockence best exemplifies _____.
Answers
Answer:
c-type conflict
Explanation:
A C-type conflict is a conflict that involves/reflects disagreements among members of a team. This kind of conflict mainly focuses on issue-related differences of opinion.
by what date must taxes be filed in the united states?
Answers
Answer:
april 15
Explanation:
its a direct question the isnt an explanation
.1.3. Briefly explain the Economic term land
Answers
Answer:
In economics, the resource that encompasses the natural resources used in production. ... Land was considered to be the “original and inexhaustible gift of nature.” In modern economics, it is broadly defined to include all that nature provides, including minerals, forest products, and water and land resources.
Answer:
land is a free gift of nature and the foundation of production
True or False Communication is not always a vital skill in the workplace
Answers
Communication is always a vital skill in the workplace. The appropriate response is false.
What is communication?Information exchange is the traditional definition of communication. The expression can be used to describe both the broadcast and the area of study that looks at such transmissions. Information can be given, received, and shared through exchange.
Communication in the workplace is essential since it boosts worker happiness, productivity, and morale. Additionally important is communication for bettering teamwork and cooperation. Individuals, teams, and organizations all perform better when there is effective workplace communication.
Emails and chats you have during the day to request things, ask questions, get information, give or receive instructions, and so on are examples of informal interactions.
In the workplace, communication is a crucial ability.
Hence, the appropriate response is false.
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Outline why it is important for a business owner to respond to technological and global issues when establishing a business?
Answers
Technology enables an increase in the efficiency of systems, products, and services. It helps track and streamline strategies, hold records go with the flow, and control contacts and employee records.
In reality, this expanded efficiency in operation enables lessened costs as well as allows the commercial enterprise to develop swiftly.
Technology has vital consequences on commercial enterprise operations. Irrespective of the scale of your business enterprise, technology has both tangible and intangible advantages that will help you make money and produce the results your customers demand. Technological infrastructure affects the subculture, performance, and relationships of a business.
The use of technology has made commercial enterprises and clients closer in many areas. E-mail and Social Media are getting used for answering queries related to products and services with clients. Giving customers all feasible methods to contact the agency is simple with the latest technology and packages over the internet.
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What are special interest groups and what are they trying to achieve?.
Answers
A special interest groups is the group of people with policy goals who work for specific cause within the political process.
A special interest groups is the community of the people within the larger are of the organization in which people shared the interest in advancing a specific knowledge , learning or technology. special interest groups support the candidates but do not run for the office.
Thus, it is an organization of people with the similar policy goals that tries to influence the political parties to try to achieve their goal. they are support to the particular cause. and tries to satisfy the interest.
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Which of the following best describes the purpose of an Egyptian pyramid?
A. the pharaoh's home
B. a monument to honor the gods
C. the pharaoh's burial chamber
D. a storage place for the pharaoh's treasures
Answers
Answer:
C. The pharaoh's burial chamber
Explanation:
The purpose of the Pyramids where for when the Pharaoh were to die they would be wrapped and put in a coffin and placed in the BURIAL CHAMBER will lots of treasures for the afterlife.