Question

In: Operations Management

National Wing Company (NWC) is gearing up for the new B-48 contract. Currently NWC has 100...

National Wing Company (NWC) is gearing up for the new B-48 contract. Currently NWC has 100 equally qualified workers. Over the next three months NWC has made the following commitments for wing production:

Month

Wing Production

May

20

June

24

July

30

Each worker can either be placed in production or can train new recruits. A new recruit can be trained to be an apprentice in one month. The next month, he, himself, becomes a qualified worker (after two months from the start of training). Each trainer can train two recruits. The production rate and salary per employee is estimated below.

Employee

Production Rate (Wings/Month)

Salary Per Month

Production

.6

$3,000

Trainer

.3

  3,300

Apprentice

.4

  2,600

Recruit

  .05

  2,200

At the end of July, NWC wishes to have no recruits or apprentices but have at least 140 full-time workers. Formulate and solve a linear program for NWC to accomplish this at minimum total cost.

(Please provide excel sheets)

Solutions

Expert Solution


Related Solutions

You have the following information for company XYZ. Ending NWC 100 Beginning NWC 120 Net Capital...
You have the following information for company XYZ. Ending NWC 100 Beginning NWC 120 Net Capital Spending 200 Depreciation 30 Taxes 50 Interest Paid 20 Dividends Paid 20 EBIT 400 You need to calculate the free cash flow (cash flow from assets).
You are gearing up to open a new wine shop. In an effort to optimize wine...
You are gearing up to open a new wine shop. In an effort to optimize wine sales, you collect data by observing your competition and noting what people are ordering during happy hour. Below is data collected during a 2 week period. Cabernet Sauvignon Merlot Chardonnay 9 3 1 8 9 6 5 5 2 8 8 5 4 6 3 8 7 2 6 12 5 1 9 4 0 8 6 3 3 4 4 11 2 5...
Metallica Bearings, Inc. is a young start-up company. The current gearing ratio of the company is...
Metallica Bearings, Inc. is a young start-up company. The current gearing ratio of the company is 35%, and Fitch rated the bonds issued by Metallica Bearings as BB with a face vale of £1,000 per bond. The company has £1.5m of ordinary 50 pence stocks in issue. For following five years, the UK spot rates are estimated as follows: ??1 = 0.50%, ??2 = 0.65%, ??3 = 0.70%, ??4 = 0.75%, ??5 = 1.00%. Required: a) Discuss the differences between...
PPS S/O A B A B 1 $48 $40 50 100 2 52 49 50 100...
PPS S/O A B A B 1 $48 $40 50 100 2 52 49 50 100 3 39 24 50 200 4 58 27 50 200 5 66 25 50 200 *Stock B has a two-for-one stock split in year 3. Calculate the price-weighted index and the value-weighted index. Calculate the percentage change from year 2 to year 3 for both indexes. PPS=Price per share. S/O= Shares outstanding
48.  A “novation” in contract law means that: a. a debt is completely erased b. agreed upon...
48.  A “novation” in contract law means that: a. a debt is completely erased b. agreed upon settlement of a debt c. the case is completely dropped as to any party d. none of the above 49.  A valid basis for “terminating” of a contract may be: a. duress b. fraud c. not reading the contract d. not negotiating the contract e. all of the above f.  a and b only 50. “Promissory estoppel” is: a. when a person includes in a written...
You are the finance manager of a company and currently your company has $100 million in...
You are the finance manager of a company and currently your company has $100 million in cash that will not be needed for a few more weeks. You are thinking about arbitrage opportunities using Euro and GBP in order to put the cash reserves into use and hopefully earn more money for your company. You have to make a decision about details of your arbitrage with regard to which currency to buy in which order. Check exchange rates, find current...
The Clearwater National Bank is planning to set up a new branch.This new branch is...
The Clearwater National Bank is planning to set up a new branch. This new branch is anticipated to generate 5 percent of the total business of the bank after it is opened. The bank also expects the return for this branch to be 15 percent with a standard deviation of 5 percent. Currently the bank has a 10 percent rate of return with a standard deviation of 5 percent. The correlation between the bank's current return and returns on the...
A futures price is currently 100. It is expected to move up to 120 or down...
A futures price is currently 100. It is expected to move up to 120 or down to 70 over the next year. The risk-free interest rate is 6%. What is the value of a 1-year call option with a strike price of 98? Group of answer choices 15 10.4 7.2 5.7
The National Bank and Trust Company The National Bank and Trust Company currently employs approximately 1,100...
The National Bank and Trust Company The National Bank and Trust Company currently employs approximately 1,100 employees. It presently has fifty branch offices *- located throughout the metropolitan area, each of which employs approximately fourteen individuals (Four supervisory personnel and ten tellers or clerical employees). The bank expects to add ten branch offices during the next twelve months, twelve the following year, and sixteen in the third year. Branches within the bank differ considerably in size so the figures given...
Your start-up company, one developing new materials for the high-tech industry, is competing for a contract...
Your start-up company, one developing new materials for the high-tech industry, is competing for a contract against a larger, well-established competitor. The contract is for the production of foils of a certain metal alloy that you already know how to produce by casting. However, the application requires conductivity an order of magnitude higher than the current performance. Describe how you would tackle this problem so your company would win the contract.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT