CostVolumeProfit Analysis Problem Hakim is the manager for.pdf

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Cost-Volume-Profit Analysis Problem Hakim is the manager for Tahoe Bed and Breakfast. Hakim is currently considering an upgrade to the breakfast service to attract more business that will add $3 in variable costs to Tahoe's current variable costs of $15. Hakim is also proposing that a 10% room rate increase (from $60 to $66 per room) will produce an increase in room rentals from 3,500 to 4,000 units. Fixed costs will remain at $126,000 for Tahoe. 1. Prepare the Break-even point and Margin of Safety Ratio for Tahoe. Current After Changes Increase/Decrease Break-even point in units Margin of Safety Ratio 2. Prepare the CVP Income Statement (Totals) for Tahoe. CVP Income Statement: Sales revenes Less: Variable costs Contribution margin Less: Fixed costs Profit/Loss begin{tabular}{|l|l|l|} hline multicolumn{1}{|c|}{ Aurrent } & & hline & & hline & & hline & & hline & & hline & & hline end{tabular}Ch18 Case Study Assignment - Part 2 (Total 10pts) How Do I Write my Posting? (150 words - 5pts; Completed Problem - 2pts; Total 7pts): * Students will be graded on their effort to fully complete their posting, reply, and problem. a. Based on your cvp analysis: 1- Explain your results for the break-even point, margin of safety ratio, and cvp income statement. (35 words - 1.25pts) 2- Provide two reasons (benefits or drawbacks) for making the changes recommended by Hakim. (40 words - 1.25pts) b. Explain and compare the per unit and the total cost behavior for fixed costs. 1- Provide and explain two examples for the per unit cost behavior for fixed costs. ( 35 words 1.25pts ) 2- Provide and explain two examples for the total cost behavior for fixed costs. (40 words 1.25pts ).

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You can use a calculator to do numerical calculations. No graphing calculator is allowed. Please DO NOT USE ANY COMPUTER SOFTWARE to solve the problems. 1. (a) What is an assignment problem? Briefly discuss the decision variables, the objective function and constraint requirements in an assignment problem. Give a real world example of the assignment problem. (b) What is a diet problem? Briefly discuss the objective function and constraint requirements in a diet problem. Give a real world example of a diet problem. (c) What are the differences between QM for Windows and Excel when solving a linear programming problem? Which one you like better? Why? (d) What are the dual prices? In what range are they valid? Why are they useful in making recommendations to the decision maker? Give a real world example. Answer Questions 2 and 3 based on the following LP problem. Let P1 = number of Product 1 to be produced P2 = number of Product 2 to be produced P3 = number of Product 3 to be produced P4 = number of Product 4 to be produced Maximize 80P1 + 100P2 + 120P3 + 70P4 Total profit Subject to 10P1 + 12P2 + 10P3 + 8P4 ≤ 3200 Production budget constraint 4P1 + 3P2 + 2P3 + 3P4 ≤ 1000 Labor hours constraint 5P1 + 4P2 + 3P3 + 3P4 ≤ 1200 Material constraint P1 > 100 Minimum quantity needed for Product 1 constraint And P1, P2, P3, P4 ≥ 0 Non-negativity constraints The QM for Windows output for this problem is given below. Linear Programming Results: Variable Status Value P1 Basic 100 P2 NONBasic 0 P3 Basic 220 P4 NONBasic 0 slack 1 NONBasic 0 slack 2 Basic 160 slack 3 Basic 40 surplus 4 NONBasic 0 Optimal Value (Z) 34400 Original problem w/answers: P1 P2 P3 P4 RHS Dual Maximize 80 100 120 70 Constraint 1 10 12 10 8 <= 3200 12 Constraint 2 4 3 2 3 <= 1000 0 Constraint 3 5 4 3 3 <= 1200 0 Constraint 4 1 0 0 0 >= 100 -40 Solution -> 100 0 220 0 Optimal Z-> 34400 Ranging Results: Variable Value Reduced Cost Original Val Lower Bound Upper Bound P1 100 0 80 -Infinity 120 P2 0 44 100 -Infinity 144 P3 220 0 120 87.5 Infinity P4 0 26 70 -Infinity 96 Constraint Dual Value Slack/Surplus Original Val Lower Bound Upper Bound Constraint 1 12 0 3200 1000 3333.333 Constraint 2 0 160 1000 840 Infinity Constraint 3 0 40 1200 1160 Infinity Constraint 4 -40 0 100 0 120 2. (a) Determine the optimal solution and optimal value and interpret their meanings. (b) Determine the slack (or surplus) value for each constraint and interpret its meaning. 3. (a) What are the ranges of optimali.

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