Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A theater needs to determine the lowest-cost production budget for an upcoming show. Specifically, they have to determine which set pieces to construct and which,

A theater needs to determine the lowest-cost production budget for an upcoming show. Specifically, they have to determine which set pieces to construct and which, if any, set pieces to rent from another local theater at a predetermined fee. However, the organization has only two weeks to fully construct the set before the play goes into technical rehearsals. The theater has two part-time carpenters who work up to 14 hours a week, each at $11 an hour, and a part-time scenic artist who can work 20 hours per week to paint the set and props as needed at a rate of $15 per hour. The set design requires 19 flats (walls), 2 hanging drops with painted scenery, and 3 large wooden tables (props). The number of hours required for each piece for carpentry and painting is shown in the accompanying table. Flats, hanging drops, and props can also be rented at a cost of $80.00, $650.00, and $300.00, respectively. The theater wants to determine how many of each unit should be built by the theater and how many should be rented to minimize total costs. Develop a spreadsheet model that computes the total cost for any mix of units built and rented, as well as the total hours required for carpenters and painters. Experiment with the model to attempt to find the best solution that meets the labor availability and the required number of units of each type.

image text in transcribed

n Flats Hanging Drops Props Carpentry 0.5 2.0 2.5 Painting 2.0 11.0 4.5 n Flats Hanging Drops Props Carpentry 0.5 2.0 2.5 Painting 2.0 11.0 4.5

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

CyRM Mastering The Management Of Cybersecurity Internal Audit And IT Audit

Authors: David X Martin

1st Edition

0367757850, 978-0367757854

More Books

Students also viewed these Accounting questions

Question

1. describe the communication process,

Answered: 1 week ago