Question

In: Math

A company produces toy favors for children's parties. Two of its most popular items around Halloween...

A company produces toy favors for children's parties. Two of its most popular items around Halloween are pirate eye patches and skeleton key chains. The company accountant determines that the October profit resulting from the sale of p pirate eye patches and s skeleton key chains can be modeled as

T(p, s) = 980 − 0.25p2 + 120p + 0.25ps − 0.375s2 + 100s dollars.

(a) Calculate the number of eye patches and key chains the company should produce to maximize the October profit resulting from the sale of these two items.

eye patches
key chains



(b) What is the maximum October profit from the sale of the eye patches and key chains?

Solutions

Expert Solution


Related Solutions

The toy​ hoop, a popular​ children's toy in the​ 1950s, has gained popularity as an exercise...
The toy​ hoop, a popular​ children's toy in the​ 1950s, has gained popularity as an exercise in recent years. But does it​ work? To answer the​ question, an exercise council conducted a study to evaluate the cardio and​calorie-burning benefits of using this​ children's toy. Researchers recorded heart rate and oxygen consumption of adult​ participants, as well as their individual ratings of perceived​ exertion, at regular intervals during a​30-minute workout. Identify Who and What were investigated and the Population of interest....
Toy Truck Corporation produces children's toy trucks using a continuous production process. All direct materials are...
Toy Truck Corporation produces children's toy trucks using a continuous production process. All direct materials are added at the beginning of the process. In November, the beginning work in process inventory was 420 units, which were 50 percent complete; the ending balance was 400 units, which were 70 percent complete. During November, 15,000 units were started into production. The Work in Process Inventory account had a beginning balance of $937 for direct materials costs and $370 for conversion costs. In...
10.The Fast & Furious Company produces two products: toy planes and toy race cars. They use...
10.The Fast & Furious Company produces two products: toy planes and toy race cars. They use departmental overhead rates for the two production departments: molding and finishing. Molding uses machine hours to assign overhead and Finishing uses direct labor hours. 50,000 planes and 250,000 race cars are produced. Please find the following data: Molding Finishing Total Estimated Overhead $250,000 $100,000 $350,000 Actual Overhead $240,000 $120,000 $360,000 Expected Direct Labor Hours planes 5,000 5,000 10,000 race cars 5,000 35,000 40,000 Expected...
Bertie Botts Ltd produces designer sweets. Most of its sales are concentrated around holidays such as...
Bertie Botts Ltd produces designer sweets. Most of its sales are concentrated around holidays such as Valentine's Day, and Christmas. A sales budget is given below for Every Flavor Beans, one of the products that Bertie Botts purchases from a subcontractor. July August September Expected Sales in $ $540,000 $620,000 $360,000 20% of total sales are cash sales, and the rest are sales on credit. 60% of all credit sales for any given month is collected in the month of...
KPhone produces quality smart phones. Its factory produces two popular models: the KPhone Pro and the...
KPhone produces quality smart phones. Its factory produces two popular models: the KPhone Pro and the KPhone Pro Max. At the beginning of the year, the following planned production information was tabled to assist in cost planning: Pro Max Pro Quantity planned 100,000 800,000 Selling Price $1,650.00 $900.00 Unit prime cost $530.00 $483.00 In addition, the following information was provided for calculating overhead costs for each phone. Activity Name Activity Driver Total Activity Cost Pro Max Pro Setups Number of...
The Cog Company sells many products. Tog is one of its popular items. Below is an...
The Cog Company sells many products. Tog is one of its popular items. Below is an analysis of the inventory purchases and sales of Tog for the month of March: 3/1   Beginning inventory 80 units at $10 3/5    Sold 40 units at $15 3/10 Purchased 120 units at $11 3/15 Sold 90 units at $15 3/20 Purchased 100 units at $12 3/25 Sold 80 units at $15 Part 1 - Provide the following assuming Cog Company uses a perpetual inventory...
The Cog Company sells many products. Tog is one of its popular items. Below is an...
The Cog Company sells many products. Tog is one of its popular items. Below is an analysis of the inventory purchases and sales of Tog for the month of March: 3/1   Beginning inventory 80 units at $10 3/5    Sold 40 units at $15 3/10 Purchased 120 units at $11 3/15 Sold 90 units at $15 3/20 Purchased 100 units at $12 3/25 Sold 80 units at $15 Part 1 - Provide the following assuming Cog Company uses a perpetual inventory...
Cruz Inc. manufactures a popular premium toy. During its first year, the company incurred these costs:...
Cruz Inc. manufactures a popular premium toy. During its first year, the company incurred these costs: $427000 Cost to manufacture 7000 toys $110000 Research and development costs $35000 Cost to ship completed products to retailers Cruz sells 80% of its products for $183 each. 1. What will Cruz report as sales revenue for Year1?   2. What will Cruz report as the cost of goods sold for Year1?   3. What will Cruz report as net income for Year1?   4. What will...
Laval produces lamps and home lighting fixtures. Its most popular product is a brushed aluminum desk...
Laval produces lamps and home lighting fixtures. Its most popular product is a brushed aluminum desk lamp. This lamp is made from components shaped in the fabricating department and assembled in the assembly department. Information related to the 25,000 desk lamps produced annually follows. Direct materials $ 260,000 Direct labor Fabricating department (5,500 DLH × $27 per DLH) $ 148,500 Assembly department (16,200 DLH × $22 per DLH) $ 356,400 Machine hours Fabricating department 14,900 MH Assembly department 20,350 MH...
Laval produces lamps and home lighting fixtures. Its most popular product is a brushed aluminum desk...
Laval produces lamps and home lighting fixtures. Its most popular product is a brushed aluminum desk lamp. This lamp is made from components shaped in the fabricating department and assembled in the assembly department. Information related to the 31,000 desk lamps produced annually follows. Direct materials $ 255,000 Direct labor Fabricating department (6,000 DLH × $23 per DLH) $ 138,000 Assembly department (15,400 DLH × $22 per DLH) $ 338,800 Machine hours Fabricating department 14,700 MH Assembly department 20,400 MH...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT