1) Baltimore Furniture Inc. owns two factories, each of which produces three types of tables – the deluxe, medium and the standard. The company has a contract to supply tables to a newly built hotel in downtown Washington DC comprising of at least 12 deluxe tables, 8 medium tables and 24 standard tables. Each factory produces a certain number of tables during each hour it operates. Factory 1 produces 6 deluxe tables and 2 medium tables. Factory 2 produces 2 deluxe tables, 2 medium tables and 12 standard tables. It costs Baltimore Inc. $150 per hour to produce each table in factory 1 and it costs $120 per hour to produce each table from factory 2. The Company wants to determine the number of hours it needs to operate each factory so that it could meet up with its contract at the lowest cost. Hints: You are required to minimize cost assuming that factory 1 = X and factory 2 = Y.
a. Formulate a linear programming model for this problem. (15 points)
b. Represent this problem on a graph using the attached graph paper. Show the feasible region. (10 points)
c. Solve this model by using graphical analysis showing the optimal solution and the rest of the corner points as well as the costs.
In: Statistics and Probability
|
87. Eloise is a sales representative for a video production company. While at an exposition, she incurs $2,000 in entertainment expenses and $1,200 for meals. The expenses occur while she is discussing business and Eloise makes an adequate accounting to her employer and is reimbursed $1,200. How much may Eloise deduct if her AGI is $40,000?
|
|
88. Brees Co. requires its employees to adequately account for all reimbursed business expenses. Tracy, an employee of Brees Co. has AGI of $50,000 and submitted for reimbursement the following valid business expenses:
What are the tax consequences if Brees reimburses Tracy $2,400?
The questions are from test bank 2016. With the current tax law, are these answers still correct?? I want to know the updated answers, thanks! |
In: Accounting
Jessica Smith is the vice president of new drug development at Generic Phama, Inc, a pharmaceutical research company in Boston, Massachusetts. One year ago, she filed an application with the Food and Drug Administration (FDA) to obtain approval of a new drug for treating cancer. Smith met Joe Spencer at a convention three months ago and invited him to her room at the hotel. The two parted ways. Spencer worked as the director for approval of new drugs at the FDA. Two weeks later, Spencer wrote Smith a letter on FDA letterhead stating, “It was nice to see your name cross my desk on our company’s application for approval of the new cancer drug. I’d really like to see you again. Why don’t you come visit me in Washington this weekend?”
Smith considered requesting that the petition be referred to another director at the FDA. However, she is concerned that the transfer would delay the approval process for at least a year. Smith’s chief scientist advised her that a key competitor plans to introduce a similar drug on the market in three months.
Are there any legal or ethical barriers to relationships between corporate officers and members of administrative agencies involved in reviewing or regulating corporate activity?
What should she do?
What would you advise her to do if you were head of human resources or legal counsel for Generic Pharma, Inc.
In: Operations Management
In: Operations Management
Management of AG Travel and Tour has identified two
groups of individuals that
would be interested in the vacation package consisting of room and
board and/or
entertainment. The maximum amount that group 1 is willing to pay
for room and
board is GHC 2500 and for entertainment is GHC 500. For group 2,
the maximum
amount they are willing to pay for room and board is GHC 1800 and
for
entertainment is GHC 750. Although AG Travel and Tour is not able
to identify
members of either group, it does know that each group values the
components of
the package differently. Assuming there are an equal number of
members in each
group and that the total membership in each group is a single
individual. If the
marginal cost of providing the service (room and board and/or
entertainment) to
each group is GHC 1000.
i. How much will the hotel charge members of each group for the
vacation
package if it could identify the members in each group?
ii. How much will the profit for AG Travel and Tour be?
iii. Since AG Travel and Tour is not able to identify members of
each group,
what price should it charge for each product?
iv. What will be the profit for AG Travel and Tour in the case of
(iii) above?
v. If AG Travel and Tour wants to charge a package price, what is
the highest
price it can charge?
vi. What profit will AG Travel and Tour make if it charges the
package price
found in (v) above?
In: Economics
In: Economics
Question One
Management of AG Travel and Tour has identified two groups of individuals that would be interested in the vacation package consisting of room and board and/or entertainment. The maximum amount that group 1 is willing to pay for room and board is GHC 2500 and for entertainment is GHC 500. For group 2, the maximum amount they are willing to pay for room and board is GHC 1800 and for entertainment is GHC 750. Although AG Travel and Tour is not able to identify members of either group, it does know that each group values the components of the package differently. Assuming there are an equal number of members in each group and that the total membership in each group is a single individual. If the marginal cost of providing the service (room and board and/or entertainment) to each group is GHC 1000.
i. How much will the hotel charge members of each group for the vacation package if it could identify the members in each group?
ii. How much will the profit for AG Travel and Tour be?
iii. Since AG Travel and Tour is not able to identify members of each group, what price should it charge for each product?
iv. What will be the profit for AG Travel and Tour in the case of (iii) above?
v. If AG Travel and Tour wants to charge a package price, what is the highest price it can charge?
vi. What profit will AG Travel and Tour make if it charges the package price found in (v) above?
In: Economics
Management of AG Travel and Tour has identified two groups of individuals that would be interested in the vacation package consisting of room and board and/or entertainment. The maximum amount that group 1 is willing to pay for room and board is GHC 2500 and for entertainment is GHC 500. For group 2, the maximum amount they are willing to pay for room and board is GHC 1800 and for entertainment is GHC 750. Although AG Travel and Tour is not able to identify members of either group, it does know that each group values the components of the package differently. Assuming there are an equal number of members in each group and that the total membership in each group is a single individual. If the marginal cost of providing the service (room and board and/or entertainment) to each group is GHC 1000.
i. How much will the hotel charge members of each group for the vacation package if it could identify the members in each group?
ii. How much will the profit for AG Travel and Tour be?
iii. Since AG Travel and Tour is not able to identify members of each group, what price should it charge for each product?
iv. What will be the profit for AG Travel and Tour in the case of (iii) above?
v. If AG Travel and Tour wants to charge a package price, what is the highest price it can charge?
vi. What profit will AG Travel and Tour make if it charges the package price found in (v) above?
In: Economics
Management of AG Travel and Tour has identified two groups of individuals that would be interested in the vacation package consisting of room and board and/or entertainment. The maximum amount that group 1 is willing to pay for room and board is GHC 2500 and for entertainment is GHC 500. For group 2, the maximum amount they are willing to pay for room and board is GHC 1800 and for entertainment is GHC 750. Although AG Travel and Tour is not able to identify members of either group, it does know that each group values the components of the package differently. Assuming there are an equal number of members in each group and that the total membership in each group is a single individual. If the marginal cost of providing the service (room and board and/or entertainment) to each group is GHC 1000. i. How much will the hotel charge members of each group for the vacation package if it could identify the members in each group ii. How much will the profit for AG Travel and Tour be? iii. Since AG Travel and Tour is not able to identify members of each group, what price should it charge for each product iv. What will be the profit for AG Travel and Tour in the case of (iii) above v. If AG Travel and Tour wants to charge a package price, what is the highest price it can charge? vi. What profit will AG Travel and Tour make if it charges the package price found in (v) above
In: Economics
Management of AG Travel and Tour has identified two groups of
individuals that would be interested in the vacation package
consisting of room and board and/or entertainment. The maximum
amount that group 1 is willing to pay for room and board is GHC
2500 and for entertainment is GHC 500. For group 2, the maximum
amount they are willing to pay for room and board is GHC 1800 and
for entertainment is GHC 750. Although AG Travel and Tour is not
able to identify members of either group, it does know that each
group values the components of the package differently. Assuming
there are an equal number of members in each group and that the
total membership in each group is a single individual. If the
marginal cost of providing the service (room and board and/or
entertainment) to each group is GHC 1000.
i. How much will the hotel charge members of each group for the
vacation package if it could identify the members in each group?
ii. How much will the profit for AG Travel and Tour be?
iii. Since AG Travel and Tour is not able to identify members of
each group, what price should it charge for each product?
iv. What will be the profit for AG Travel and Tour in the case of
(iii) above?
v. If AG Travel and Tour wants to charge a package price, what is
the highest price it can charge?
vi. What profit will AG Travel and Tour make if it charges the
package price found in (v) above?
In: Economics