H26 An Ethical Question Involving Standard Costs C 1. Taylor Industries‚ Inc.‚ develops standard costs for all its direct materials‚ direct labor‚ and overhead costs. It uses these costs to price products‚ cost inventories‚ and evaluate the performance of purchasing and production managers. It updates the standard costs whenever costs‚ prices‚ or rates change by 3 percent or more. It also reviews and updates all standard costs each December; this practice provides current standards that are
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Scilab Datasheet Optimization in Scilab Scilab provides a high-level matrix language and allows to define complex mathematical models and to easily connect to existing libraries. That is why optimization is an important and practical topic in Scilab‚ which provides tools to solve linear and nonlinear optimization problems by a large collection of tools. Overview of the industrial-grade solvers available in Scilab and the type of optimization problems which can be solved by Scilab. Objective
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The Assignment Problem and the Hungarian Method 1 Example 1: You work as a sales manager for a toy manufacturer‚ and you currently have three salespeople on the road meeting buyers. Your salespeople are in Austin‚ TX; Boston‚ MA; and Chicago‚ IL. You want them to fly to three other cities: Denver‚ CO; Edmonton‚ Alberta; and Fargo‚ ND. The table below shows the cost of airplane tickets in dollars between these cities. From \ To Denver Edmonton Fargo Austin 250 400
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Mathematical Model of a Transportation Problem where m … number of sources n … number of destinations ai … capacity of i-th source (in tons‚ pounds‚ liters‚ etc) bj … demand of j-th destination (in tons‚ pounds‚ liters‚ etc.) cij … cost coefficients of material shipping (unit shipping cost) between i-th source and j-th destination (in $ or as a distance in kilometers‚ miles‚ etc.) xij … amount of material shipped between i-th source and j-th destination (in tons‚ pounds‚ liters etc.)
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Aggregate Production Planning (APP) What are the major inputs‚ constraints‚ and outputs of the aggregate production plan (APP) Does APP have to be in terms of a real product Do the costs of carrying inventory‚ hiring‚ firing‚ backordering exist in the accounting books Where does APP fit in the hierarchy of plans What is a pure strategy What is a mixed strategy Give examples How do we determine (judge) whether one plan is better than the other Is it appropriate for a company‚ which competes on the
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Scottsville Textile Mill Case MGM 350 Production Schedule and loom assignment Decision Variable X1: Yards of fabric 1 on dobbie loom X2: Yards of fabric 2 on dobbie loom X3: Yards of fabric 3 on dobbie loom X4: Yards of fabric 4 on dobbie loom X5: Yards of fabric 5 on dobbie loom X6: Yards of fabric 3 on regular loom X7: Yards of fabric 4 on regular loom X8: Yards of fabric 5 on regular loom X9: Yards of fabric 1 purchased X10: Yards of fabric 2 purchased
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Simpply the best First Page and the Assignment Questions: My division had another great year last year. We all worked hard‚ and the results were there. But again we got no reward for our hard work. It’s very frustrating. —Division Manager‚ General Products Division‚ Industrial Electronics‚ Inc. Industrial Electronics‚ Inc. (IE) produced a wide range of electronic equipment‚ including signal sources‚ test equipment‚ communications systems‚ and various piece parts and subassemblies such as
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Management of High Tech Services (HTS) would like to develop a model that will help allocate its technician’s time between service calls to regular contract customers and new customers. A maximum of 80 hours of technician time is available over the two-week period. To satisfy cash flow requirements‚ at least $800 in revenue must be generated through technician time during the two-week period. Technician time for regular customers generates $25 per hour. However‚ technician time for new customers
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Case Problem: Textile Mill Scheduling Assuming‚ X1 = Yards of fabric 1 purchased X2 = Yards of fabric 1 on dobbie looms X3 = Yards of fabric 2 purchased X4 = Yards of fabric 2 on dobbie looms X5 = Yards of fabric 3 purchased X61 = Yards of fabric 3 on dobbie looms X62 = Yards of fabric 3 on regular looms X7 = Yards of fabric 4 purchased X81 = Yards of fabric 4 on dobbie looms X82 = Yards of fabric 4 on regular looms X9 = Yards of fabric
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Sensitivity Analysis Source: Introduction to Management Science 10 e‚ Anderson Sweeney Williams Example 1 Max s.t. 5x1 + 7x2 x1 < 6 2x1 + 3x2 < 19 x1 + x2 < 8 x1‚ x2 > 0 x2 8 7 6 5 4 3 2 1 x1 + x2 < 8 Max 5x1 + 7x2 x1 < 6 Optimal: x1 = 5‚ x2 = 3‚ z = 46 2x1 + 3x2 < 19 x1 1 2 3 4 5 6 7 8 9 10 x2 8 7 6 5 4 3 2 1 5 5 Feasible Region 1 1 1 2 3 4 4 4 3 3 2 2 5 6 7 8 9 10 x1 Example 1 • Range of Optimality for c1 The slope of the objective
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