A fast food restaurant uses full-time and part-time help to meet fluctuating demand during the day. The following table presents projected need for workers at different times of the day:

Time

Workers needed

9:00-10:00

4

10:00-11:00

5

11:00-12:00

9

12:00-1:00

10

1:00-2:00

8

2:00-3:00

4

3:00-4:00

3

4:00-5:00

6

There is a maximum of four full-time workers and the other workers are part-time workers. Each full-time worker is there from 9:00 until 5:00, while the part-time workers will work for 4 consecutive hours at a cost of $4.00 per hour. The cost of the full-time worker is $50 per day. The company wishes to minimize total cost while meeting the demands. Formulate this as a linear programming problem. Carefully define all decision variables.

1. What are the variables?

2. How many constraints are there?

3. What is the objective function?

4. What is lowest cost?

5. What is the worker schedule?

On the first day of the fiscal year, a company issues an $7,500,000, 8%, five-year bond that pays semiannual interest of $300,000 ($7,500,000 × 8% × ½), receiving cash of $7,740,000. journalize the first interest payment and the amortization of the related bond premium. round to the nearest dollar. if an amount box does not require an entry, leave it blank.

Shelby company produces three products: product x, product y, and product z. data concerning the three products follow (per unit): product x product y product z selling price $ 85 $ 65 $ 75 variable expenses: direct materials 25.50 19.50 5.25 labor and overhead 25.50 29.25 47.25 total variable expenses 51.00 48.75 52.50 contribution margin $ 34.00 $ 16.25 $ 22.50 contribution margin ratio 40 % 25 % 30 % demand for the company’s products is very strong, with far more orders each month than the company can produce with the available raw materials. the same material is used in each product. the material costs $8 per pound, with a maximum of 4,400 pounds available each month. required: a. compute contribution margin per pound of materials used. (round your intermediate calculations and final answers to 2 decimal places.) contribution margin per pound product x $ product y $ product z $ b. which orders would you advise the company to accept first, those for product x, for product y, or for product z? which orders second? third? product x product y product z

An insurance company estimates the probability of an earthquake in the next year to be 0.0015. the average damage done to a house by an earthquake it estimates to be $90,000. if the company offers earthquake insurance for $150, what is company`s expected value of the policy? hint: think, is it profitable for the insurance company or not? will they gain (positive expected value) or lose (negative expected value)? if the expected value is negative, remember to show "-" sign. no "+" sign needed for the positive expected value