Question

In: Statistics and Probability

On their farm, the Friendly family grows apples that they harvest each fall and make into...

On their farm, the Friendly family grows apples that they harvest each fall and make into three products—apple butter, applesauce, and apple jelly. They sell these three items at several local grocery stores, at craft fairs in the region, and at their own Friendly Farm Pumpkin Festival for 2 weeks in October. Their three primary resources are cooking time in their kitchen, their own labor time, and the apples. They have a total of 500 cooking hours available, and it requires 3.5 hours to cook a 10-gallon batch of apple butter, 5.2 hours to cook 10 gallons of applesauce, and 2.8 hours to cook 10 gallons of jelly. A 10-gallon batch of apple butter requires 1.2 hours of labor, a batch of sauce takes 0.8 hour, and a batch of jelly requires 1.5 hours. The Friendly family has 240 hours of labor available during the fall. They produce about 6,500 apples each fall. A batch of apple butter requires 40 apples, a 10-gallon batch of applesauce requires 55 apples, and a batch of jelly requires 20 apples. After the products are canned, a batch of apple butter will generate $190 in sales revenue, a batch of applesauce will generate a sales revenue of $170, and a batch of jelly will generate sales revenue of $155. The

Solutions

Expert Solution


Related Solutions

Consider a corn farm, a bakery, some consumers and a government. The corn farm grows 4...
Consider a corn farm, a bakery, some consumers and a government. The corn farm grows 4 million tons of corn and the market price of corn is $50/ton. 1.5 million tons of corn are sold to consumers and the government buys 1 million tons to feed the army. The bakery buys 0.5 million tons of corn and sells it as cornbread to the consumers, earning a revenue of $50 million. The remaining 1 million tons are stored as inventory. The...
Bob the Farmer grows vegetables at his farm in South Dakota. He grows his vegetables for...
Bob the Farmer grows vegetables at his farm in South Dakota. He grows his vegetables for sale to food companies. On November 1, he sells his vegetables to Granny’s Pie Company for $65,000, inclusive of 13% VAT. Granny’s Pie Company uses his vegetables to produce savory meat and vegetable pies (they’re huge in the UK). After the production of the pies is complete, Granny’s Pie Company sells the pies to Winn Dixie Grocery Stores for $140,000, inclusive of 13% VAT....
Bob the Farmer grows vegetables at his farm in South Dakota. He grows his vegetables for...
Bob the Farmer grows vegetables at his farm in South Dakota. He grows his vegetables for sale to food companies. On November 1, he sells his vegetables to Granny’s Pie Company for $65,000, inclusive of 13% VAT. Granny’s Pie Company uses his vegetables to produce savory meat and vegetable pies (they’re huge in the UK). After the production of the pies is complete, Granny’s Pie Company sells the pies to Winn Dixie Grocery Stores for $140,000, inclusive of 13% VAT....
Employee Friendly Policies A. Discuss three policies in each of the following categories:      Family Issues...
Employee Friendly Policies A. Discuss three policies in each of the following categories:      Family Issues       Health Safety and Wellness       Flexible work arrangement
The three children of a farm couple are sent to the market to sell 90 apples.
Use ILPThe three children of a farm couple are sent to the market to sell 90 apples. Karen, the oldest, carries 50 apples; Bill, the middle one, carries 30; and John, the youngest carries only 10. The parents have stipulated 5 rules: (1) The selling price is either $1 for 3 apples or $2 for 1 apple. (2) Each child may exercise one or both options of the selling price. (3) Each of the three children must return with exactly...
Stateline Berry Farm harvest early season blueberries for shipment throughout Michigan and Illnois in July. The...
Stateline Berry Farm harvest early season blueberries for shipment throughout Michigan and Illnois in July. The blueberry farm is maintained by a permanent staff of 10 employees and seasonal workers who pick and pack the blueberries. The blueberries are sold in crates containing 100 individually pack aged one-quart containers. Affixed to each one-quart container is the distinctive Stateline Berry Farm logo inviting buyers to "Enjoy the berry best blueberries in the world!" The selling price is $90 per crate, variable...
Aji Fatou can produce either apples or oranges on her farm and the explicit cost of...
Aji Fatou can produce either apples or oranges on her farm and the explicit cost of production is the same for both. At the moment she’s growing apples. Her accountant tells her that she is making money. Aji Fatou’s friend, who is an economist, also tells her that she is making profits. This must mean that the revenue from growing apples is greater than a.The explicit cost of growing apples b.The revenues from growing oranges c.The opportunity cost of growing...
Aji Fatou can produce either apples or oranges on her farm and the explicit cost of...
Aji Fatou can produce either apples or oranges on her farm and the explicit cost of production is the same for both. At the moment she’s growing apples. Her accountant tells her that she is making money. Aji Fatou’s friend, who is an economist, also tells her that she is making profits. This must mean that the revenue from growing apples is greater than a.The explicit cost of growing apples b.The revenues from growing oranges c.The opportunity cost of growing...
A family of 130 termites invades your house and grows at a rate of 17% per...
A family of 130 termites invades your house and grows at a rate of 17% per week. How many termites will be in your house after 1 year? a)Use the rate formula to find the number of termites. b)Use the rate to find the approximate Tdouble, and then find the number of termites in 1 year, using the Tdouble – new value formula. c)Use the rate to find the exact Tdouble, and then find the number of termites in 1...
3.11. Fred Jonasson manages a family-owned farm. To supplement several food products grown on the farm,...
3.11. Fred Jonasson manages a family-owned farm. To supplement several food products grown on the farm, Fred also raises pigs for market. He now wishes to determine the quantities of the available types of feed (corn, tankage, and alfalfa) that should be given to each pig. Since pigs will eat any mix of these feed types, the objective is to determine which mix will meet certain nutritional requirements at a minimum cost. The number of units of each type of...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT