ABC, Inc., is a small clothing manufacturer that produces shirts and pants using two resources: sewing machine hours and cutting machine hours. The production manager can schedule up to 240 hours of sewing machine time and up to 150 hour cutting machine time. Production of one shirt requires 3 hours of sewing time and 1 hour of cutting time. Each pair of pants requires 2 hours of sewing time and 1.5 hours of cutting time. Each shirt yields a profit of $5, and each pair of pants generates a $6 profit. The objective is to maximize profits. Determine the nonnegative constraint for the LP formulation. Let X1 = Number of shirts to be produced, X2 = Number of pairs of pants to be produced.
a. X1 and X2 > 0
b. X1 and X2 ? 0
c. X1 and X2 ? 0
d. X1 and X2 = 0
b. X1 and X2 ? 0
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a. $1,163.75. b. $1,653.75. c. $1,102.50. d. $980.
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a. True b. False Indicate whether the statement is true or false
Legal constraints and ethical considerations should be considered when developing a company's pricing policy
Indicate whether the statement is true or false
Which of the following relationships is invalid?
a. Beginning inventory + purchases of inventory - returns of inventory to vendor-purchase discounts on inventory purchases = goods available for sale. b. Beginning inventory + goods available for sale - ending inventory = cost of goods sold. c. Gross revenues - sales returns - sales discounts = net revenues. d. Net revenues - cost of goods sold - expenses = net income.