Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Minnow Bucket Bait Shop in Land O lakes, Wi raises trout, their current inventory is 7,000 fish (trout). They want to buy a mix

The Minnow Bucket Bait Shop in Land O lakes, Wi raises trout, their current inventory is 7,000 fish (trout). They want to buy a mix of feed for their trout that both provides the nutrients needed and comes at the lowest cost. In order to do this, they are going to buy and mix two brands of feed. Each pound of Brand-1 feed contains 3.5 ounces of ingredient A, 4.0 ounces of ingredient B and 0.75 ounces of ingredient C. Each pound of Brand-2 contains 10.0 ounces of ingredient A, 3.25 ounces of ingredient B and no (zero) ounces of ingredient C. Brand-1 costs $2.25 per pound and Brand-2 costs $3.10 per pound. Each trout needs 87.0 ounces of ingredient A, 52.0 ounces of ingredient B and 3.5 ounces of ingredient C per month.

How many total pounds of each brand should they buy per month to keep their cost as low as possible and still meet the dietary requirements of the trout? What will the cost per month be?

Include your spreadsheet with any formulas noted. Also include a list of the constraints you used. Leave it as is in ounces.

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_2

Step: 3

blur-text-image_3

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

Entrepreneurial Financial Management An Applied Approach

Authors: Jeffrey R. Cornwall, David O. Vang, Jean M. Hartman

4th Edition

0765646854, 978-0765646859

More Books

Students also viewed these Accounting questions

Question

What is a confidence interval?

Answered: 1 week ago