Your Lego furniture company makes Tables and Chairs. Below, you are given the starting inventory, selling price, and Bill of Materials (recipe, or construction requirements). You are to determine the number of Tables and Chairs to be built to maximize revenue. Your answer will be the revenue generated by your production plan - rounded to the nearest whole dollar. (The number of tables and chairs may not be a whole number, which is acceptable in this chapter.) Use Scenario 3 Large wood per Table Small wood per Table Large wood per Chair Small wood per Chair Revenue per Table Revenue per Chair Large wood inventory Small wood inventory Scenario 1 3 2 1 4 $20 $16 85 80 Scenario 2 4 2 2 4 $22 $16 90 50 Scenario 3 2 2 3 3 $19 $19 90 50 Scenario 4 2 4 3 4 $18 $21 80 130 Scenario 5 5 2 2 6 $25 $22 200 190
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- Create a spreadsheet to calculate your projected total costs, total revenues, and total profits for giving a seminar on cost estimating. Make the following assumptions: You will charge $600 per person for a two-day class. You estimate that 30 people will attend the class, but you want to change this input. Your fixed costs include $500 total to rent a room for both days, setup fees of $400 for registration, and $300 for designing a postcard for advertising. Youwill not include your labor costs for this estimate, but you estimate that you will spend at least 150 hours developing materials, managing the project, and giving the actual class. You would like to know what your time is worth given different scenarios. Youwill order 5,000 postcards, mail 4,000, and distribute the rest to friends and colleagues. Yourvariable costs include the following: $5perperson for registration plus 4 percent of the class fee per person to handle credit card processing; assume that everyone pays…you own a furniture store and you are in the process of planning the production of wooden chairs for the next six months. your demand forecast for wooden chairs for the next six months is 150,100,200,300,50,200. you currently stock 50 chairs in stock. one of your customers informed you that they would be returning 50 additional chairs to you and you expect to receive these returns in month 2. you currently employ 10 skilled employees who work entirely making chairs. in the last six months they were able to make 900 chairs working full time. you are considering two alternative production plans: constant workforce level for the next six months and meet all demand on time. adjust your workforce level only once over the next six months after month 0. ( no still backlogging). hiring cost per employee=$1000holding cost monthly per chair=$10 lay off cost per emloyee=$2000payroll cost monthly per employee=$2000 implement each alternative to obtain the least total cost. solve this question…you own a furniture store and you are in the process of planning the production of wooden chairs for the next six months. your demand forecast for wooden chairs for the next six months is 150,100,200,300,50,200. you currently stock 50 chairs in stock. one of your customers informed you that they would be returning 50 additional chairs to you and you expect to receive these returns in month 2. you currently employ 10 skilled employees who work entirely making chairs. in the last six months they were able to make 900 chairs working full time. you are considering two alternative production plans: constant workforce level for the next six months and meet all demand on time. adjust your workforce level only once over the next six months after month 0. ( no still backlogging). hiring cost per employee=$1000holding cost monthly per chair=$10 lay off cost per emloyee=$2000payroll cost monthly per employee=$2000 implement each alternative to obtain the least total cost. solve this question with…
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- Answer questions 5 & 6 based on the following information. A weekly sports magazine publishes a special edition for the World Series. The sales forecast is for the number of copies to be normally distributed with a mean of 800,000 copies and a standard deviation of 60,000 copies. It costs $0.35 to print a copy, and the newsstand price is $1.95. Unsold copies will be scrapped. Your job is to calculate the number of copies that should be printed. First, calculate P(demandI need assistance with Chapter 15 Problem 7. I keep getting an it incorrecrt despite calculating the sum and dividing everything by the quanitity. Thank youStruggling with answering this question A manufacturer produces three types of humidifiers. The retail price of Humidifier Regular (HR) is $60 with variable costs of $20. Humidifier Advanced (HA) sells for $200 for its advanced features. This model’s variable costs are $80. Humidifier Simple (HS) is a simplified version and only sells for $25 with variable costs of $15. The manufacturer has machines and facilities worth $320,000 annually. The sales data show that 1000 units of HR, 2000 units of HA, and 10,000 units of HS was sold last year. Calculate the break-even point of the firm. The firm has some idle capacity at these volumes and chooses to cut the selling price of HR from $60 to $45, believing that its sales volume will rise from 1000 units to 2500 units. What is the revised break-even point?What-If Analysis As the management accountant for the Tyson Company you have been askedto construct a financial planning model for collection of accounts receivable and then to performa what-if analysis in terms of the assumption regarding estimated uncollectible accounts. You areprovided with the following information:Collection Pattern for Credit Sales: 65% of the company’s credit sales are collected in the monthof sale, 30% in the month following the month of sale, and 5% are uncollectible.Credit Sales: January 2019, $100,000; February 2019, $120,000; March 2019, $110,000.Required1. Generate a spreadsheet model regarding estimated bad debts expense under the following assumptionsregarding the rate of uncollectible accounts: 1%, 3%, 5% (base case), and 8%. Prepare an estimate of baddebts expense for each of three months, January through March, and for the quarter as a whole.2. What is the value to Tyson Company of creating a model and then performing the what-if analysis?Hayworth Corporation has Just segmented last year's income statement into its ten product lines. The chief executive officer (CEO) is curlous as to what effect dropping one of the product lines at the beginning of last year would have had on overall company profit. What is the best number for the CEO to look at to determine the effect of this elimination on the net operating income of the company as a whole? Multiple Choice the product line's sales dollars the product line's contribution margin the product line's segment margin the product line's segment mergin minus an allocated portion of common fixed expensesEach day, QBlitz, a Seattle-based startup, offers a single product through its website.The product is available for order only on one day, and no other products are availableduring that day. To add to this odd selling strategy, QBlitz does not post prices for itsproducts. Instead, for each product there is a reserve price. On the day a product is available, customers can submit bids. All of the bids that exceed the reserve price are told atthe end of the day that they “won” the product and they pay the price they bid. QBlitzthen adds up all of the winning bids and submits an order to a supplier for the neededquantity. If the supplier delivers that quantity, then QBlitz ships the product to the winners once the product is received. However, if the supplier delivers only a portion ofthe ordered quantity, then QBlitz ships the product to the highest bidders that it cansatisfy and notifies the others that they will receive a refund because they will not in factreceive the product. The…SEE MORE QUESTIONS