Problem 5. (20 pts) PDQ manufacturing company produces two products, widgets and gadgets. Each widget and...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Problem 5. (20 pts) PDQ manufacturing company produces two products, widgets and gadgets. Each widget and gadget requires several basic ma- chining operations to produce. PDQ has five different machining centers, and some of the required machining operations can be performed at more than one of the centers. Consequently, there are several alternative ways of producing each widget and each gadget. Table below summarizes the unit production times required for the various operations. Unit production times (hours) Center 2 Center 3 Center 4 Center 5 Product Method Center 1 1 0.25 0.13 0.20 Widget 2 - 0.34 0.15 - 0.28 3 0.25 0.42 1 0.18 0.32 2 0.26 0.22 0.14 Gadget 3 0.20 0.30 4 0.12 0.18 0.20 The unit cost of widgets produced using Methods 1, 2, and 3 are $1.35, $1.28, and $1.47, respectively. Similarly, the unit cost for gadgets produced using Methods 1, 2, 3, and 4 are $1.14, $1.19, $1.26, and $1.16, respectively. The weekly demand for widgets and gadgets are 320 and 250, respectively, and each machining center is available for 80 hours per week. Formulate a linear programming problem to find the least-cost production schedule. Furthermore, code and solve the problem in CVXPY following the instruction in this homework. Problem 5. (20 pts) PDQ manufacturing company produces two products, widgets and gadgets. Each widget and gadget requires several basic ma- chining operations to produce. PDQ has five different machining centers, and some of the required machining operations can be performed at more than one of the centers. Consequently, there are several alternative ways of producing each widget and each gadget. Table below summarizes the unit production times required for the various operations. Unit production times (hours) Center 2 Center 3 Center 4 Center 5 Product Method Center 1 1 0.25 0.13 0.20 Widget 2 - 0.34 0.15 - 0.28 3 0.25 0.42 1 0.18 0.32 2 0.26 0.22 0.14 Gadget 3 0.20 0.30 4 0.12 0.18 0.20 The unit cost of widgets produced using Methods 1, 2, and 3 are $1.35, $1.28, and $1.47, respectively. Similarly, the unit cost for gadgets produced using Methods 1, 2, 3, and 4 are $1.14, $1.19, $1.26, and $1.16, respectively. The weekly demand for widgets and gadgets are 320 and 250, respectively, and each machining center is available for 80 hours per week. Formulate a linear programming problem to find the least-cost production schedule. Furthermore, code and solve the problem in CVXPY following the instruction in this homework.
Expert Answer:
Related Book For
Cost management a strategic approach
ISBN: 978-0073526942
5th edition
Authors: Edward J. Blocher, David E. Stout, Gary Cokins
Posted Date:
Students also viewed these mathematics questions
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
The more we learn about how fashion is created, the more we face a moral dilemma that pits our individual freedom of expression and purchasing power against both the environment and the dignity and...
-
Procter & Gamble just received payment for a large export of Tide in the amount of 275,000 Denmark kroner (DKK). If the exchange rate is $0.1992 CAD per DKK, how many Canadian dollars will...
-
A student's final exam grade depends on how close the student sits to the center of the classroom during lectures. If a student sits r feet from the center of the room, the grade is a Gaussian random...
-
Sligo Toys Ltd manufactures wooden toy figures at its Ballinode plant. It has two departments - the Forming Department and the Finishing Department. (Exercises 4.21 and 4.22 focused on the Forming...
-
William White practices medicine under the business title William White, M.D., P.C. During January, the medical practice completed the following transactions: The business uses the following...
-
Moriband Corp. paid a dividend of $2.15 yesterday. The companys dividend is expected to grow at a steady rate of 5 percent for the forseeable future. If investors in stocks of companies like Moriband...
-
You are in charge of quality control (QC) for a manufacturer of toy cars. Recently the company started manufacturing toy dune buggies at a new factory. Your job is to set up quality control...
-
Use the data for the demand for chicken given in Exercise 7.19. Suppose you are told that the true demand function is ln Y t = 1 + 2 ln X 2t + 3 ln X 3t + 6 ln X 6t + u t (1) but you think...
-
While auditing XYZ Ltd your audit senior found that senior accounts payable clerk, Jillian Perkins, had been creating fake creditor's invoices from non-operating companies that she owned, for goods...
-
Compare and contrast the South African union movements views of privatisation with those of the South African government and ruling political party
-
Briefly discuss any two legislative acts governing the collection and allocation of revenue.
-
Discuss privatisation in South Africa, in both a historical and a contemporary context.
-
Compare and contrast the roles of the chief financial officer and the mayor in relation to municipal financial management in South Africa.
-
Write an essay on the legislative framework for municipal financial management in South Africa by way of summarising key acts and policy.
-
10 L of CO2 measured at 4 C and 500 mmHg. Determine its volume at 30 C and 800 mmHg pressure?
-
What are the principal differences among asset liquidity management, liability management, and balanced liquidity management?
-
Many accountants believe that the most important benefit of the master budgeting process is the end result: a set of pro forma financial statements. What is the rationale for this view?
-
A company is formulating its marketing expense budget for the last quarter of the year. Sales in units for the third quarter amounted to 4,000; sales volume for the fourth quarter are expected to...
-
Meidi Johnson has owned a medical professional building for the last 20 years. She leased the land from an adjacent medical school 22 years ago for 30 years and had the building constructed. At the...
-
Which form of financing allows the source of the funds to share in the wealth if the company which received the financing does well? a. A loan b. An investment c. Both a loan and an investment d....
-
What are vertical and horizontal financial statement analyses? What are their advantages?
-
Which form of financing requires repayment, regardless of whether the company receiving the funds does well or not? a. A loan b. An investment c. Both a loan and an investment d. Neither a loan nor...
Study smarter with the SolutionInn App