Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Touche Young accounting firm must complete three jobs during the next month. Job 1 will require 500 hours of work, job 2 will require

The Touche Young accounting firm must complete three jobs during the next month. Job 1 will require 500 hours of work, job 2 will require 300 hours of work, and job 3 will require 100 hours of work. Currently, the firm consists of 5 partners, 5 senior employees, and 5 junior employees, each of whom can work up to 40 hours per month. The dollar amount (per hour) that the company can bill depends on the type of accountant who is assigned to each job, as shown in Table 60. (The X indicates that a junior employee does not have enough experience to work on job 1.) All jobs must be completed. Touche Young has also set the following goals, listed in order of priority:

Goal 1 Monthly billings should exceed $68,000.

Goal 2 At most, 1 partner should be hired.

Goal 3 At most, 3 senior employees should be hired.

Goal 4 At most, 5 junior employees should be hired.

TABLE 60

    

 

Job 1

Job 2

Job 3

Partner

160

120

110

Senior employee

120

90

70

Junior employee

X

50

40

Formulate a preemptive goal programming model for this situation.

Step by Step Solution

3.39 Rating (158 Votes )

There are 3 Steps involved in it

Step: 1

Decision Variables There are three types of decisions First we need to decide how ... 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

Accounting

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

23rd Edition

978-0324662962

More Books

Students also viewed these Accounting questions

Question

What is the difference between a current asset and a fixed asset?

Answered: 1 week ago

Question

Outline five major criticisms of humanistic psychologies.

Answered: 1 week ago

Question

What percent is $1.50 of $11.50?

Answered: 1 week ago