Question

MINIMIZATION APPLICATIONS 3) An oil company has two refineries. Each day, Refinery A produces 200 barrels...

MINIMIZATION APPLICATIONS

3) An oil company has two refineries. Each day, Refinery A produces 200 barrels of high-grade oil, 300 barrels of medium-grade oil, and 200 barrels of low-grade oil and costs $12,000 to operate. Each day, Refinery B produces 100 barrels of high-grade oil, 100 barrels of medium-grade oil, and 200 barrels of low-grade oil and costs $10,000 to operate. The company must produce at least 800 barrels of high-grade oil, 900 barrels of medium-grade oil, and 1,000 barrels of low-grade oil. How many days should each refinery be operated to meet the goals at a minimum cost?

Math   Advanced-Math   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
An oil company operates two refineries in a certain city. Refinery I has an output of...
An oil company operates two refineries in a certain city. Refinery I has an output of 200, 100, and 100 barrels of low-, medium-, and high-grade oil per day, respectively. Refinery II has an output of 100, 200, and 600 barrels of low-, medium-, and high-grade oil per day, respectively. The company wishes to produce at least 1000, 1400, and 3000 barrels of low-, medium-, and high-grade oil to fill an order. If it costs $600/day to operate Refinery I...
An oil refining company has refineries located in Edmonton, AB, Redwater, AB, and Scotford, AB. The...
An oil refining company has refineries located in Edmonton, AB, Redwater, AB, and Scotford, AB. The company produces three blends of gasoline: regular, midgrade, and premium. The Edmonton refinery is the smallest of the three, and produces 20,000 barrels/day of premium gasoline, 40,000 barrels/day of midgrade, and 80,000 barrels/day of regular. The Redwater refinery produces 60,000 barrels/day of each of premium and midgrade gasoline, along with 120,000 barrels/day of regular. The Scotford refinery is the largest but does not produce...
An oil refining company has refineries located in Edmonton, AB, Redwater, AB, and Scotford, AB. The...
An oil refining company has refineries located in Edmonton, AB, Redwater, AB, and Scotford, AB. The company produces three blends of gasoline: regular, midgrade, and premium. The Edmonton refinery is the smallest of the three, and produces 20,000 barrels/day of premium gasoline, 40,000 barrels/day of midgrade, and 80,000 barrels/day of regular. The Redwater refinery produces 60,000 barrels/day of each of premium and midgrade gasoline, along with 120,000 barrels/day of regular. The Scotford refinery is the largest but does not produce...
Minnesota has two oil refineries that emit methane gas. The Bend refinery emits 300 units of...
Minnesota has two oil refineries that emit methane gas. The Bend refinery emits 300 units of methane and the Park refinery emits 900 units of methane. Government regulators would like to reduce total methane emissions from 1,200 to 900 units. Bend’s total abatement cost is TCB = 400QB + 4QB 2 where Q is units of methane. Park’s total abatement cost is TCP = 40QP + 2QP 2. a. Suppose that government regulators require each refinery to remove 150 units...
Please show the Work Question 1 A lawnmower manufacturer has the following data: Unit revenue: $200...
Please show the Work Question 1 A lawnmower manufacturer has the following data: Unit revenue: $200 Unit variable cost: $75 Fixed costs: $400,000 (annually) Given the above data, what are: The profit/loss for annual production = 5000? The annual production at the break-even point? The profit/loss for annual production = zero? Question 2 A car engine manufacturer has the following production goals for the next year: Engine Quantity Machine Req’s V6 2000 6hrs V8 1500 10hrs V12 100 20hrs If...
Question 2 A car engine manufacturer has the following production goals for the next year: Engine...
Question 2 A car engine manufacturer has the following production goals for the next year: Engine Quantity Machine Req’s V6 2000 6hrs V8 1500 10hrs V12 100 20hrs If all three engines can be produced by the same machines and each of the manufacturer’s machines operate for 2400 hours per year, how many machines are required for the above product mix? Question 3 A manufacturing operation has three stages: •Stage 1 Capacity: 400 units/hr •Stage 2 Capacity: 300 units/hr •Stage...
1. Yol's Brewery must decide how many barrels of the two types of beer (Yol's White...
1. Yol's Brewery must decide how many barrels of the two types of beer (Yol's White and Yol's Red) to produce for its next shipment. It has limited supply of ingredients that are used in both products. Each barrel of Yol's White requires 20 lbs. of corn, 2 ozs. of hops, 10 lbs. of malt and yields €20 of profit. . Each barrel of Yol's Red requires 1 ozs. of hops, 30 lbs. of malt and yields €30 of profit....
P4-33. Applications of Differential Analysis Adventure Expeditions offers guided back-country hiking/camping trips in British Columbia. Adven-...
P4-33. Applications of Differential Analysis Adventure Expeditions offers guided back-country hiking/camping trips in British Columbia. Adven- ture provides a guide and all necessary food and equipment at a fee of $50 per person per day. Adven- ture currently provides an average of 600 guide-days per month in June, July, August, and September. Based on available equipment and staff, maximum capacity is 800 guide-days per month. Monthly variable and fixed operating costs (valued in Canadian dollars) are as follows: Variable Costs...
BP: Safety First or Profits First? On April 20, 2010, the Deepwater Horizon, a drilling rig...
BP: Safety First or Profits First? On April 20, 2010, the Deepwater Horizon, a drilling rig operating in the Gulf of Mexico, exploded, killing 11 workers and injuring another 17. Investigators determined that the likely cause was a column of methane gas that rose through the borehole under extremely high pressure, expanded on reaching the surface, and then ignited, with catastrophic consequences. After burning for 36 hours, the rig collapsed and sank into the Gulf. It triggered one of the...
Genuine Spice Inc. began operations on January 1 of the current year. The company produces eight-...
Genuine Spice Inc. began operations on January 1 of the current year. The company produces eight- ounce bottles of hand and body lotion called Eternal Beauty. The lotion is sold wholesale in 12-bottle cases for $100 per case. There is a selling commission of $20 per case. The January direct materials, direct labor, and factory overhead costs are as follows: DIRECT MATERIALS Cost Behavior Units per Case Cost per Unit Cost per Case Cream base Variable 100 ozs. $0.02 $...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT