The manager of Dixie Furniture Company estimates that the daily output of her factory (in thousands...
The manager of Dixie Furniture Company estimates that the daily output of her factory (in thousands of dollars) Q is given by Q = 4x1/4y3/4 where x is the amount spent on labor and y is the amount spent on capital (both measured in thousands of dollars). (a) Find the daily output of the factory if $16,000 is spent on labor and $81,000 is spent on capital each day. .
(b) Suppose that the output of the factory is to be maintained at the level found in part (a). By how much should the amount spent on capital be changed if the amount on labor is increased by $1,000? (Use the differential to calculate the answer. Round your answer to the nearest cent.)
$ What is the MRTS? (Round your answer to the nearest cent.) $
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The manager of Dixie Furniture Company estimates that the daily
output of her factory (in thousands...
72 Partial Derivatives: Problem 17 Previous Problem List Next (1 point) A manufacturer estimates that the annual output...
72 Partial Derivatives: Problem 17 Previous Problem List Next (1 point) A manufacturer estimates that the annual output at a certain factory is given by Q(K, L) 13K0.7Į0.3 units, where K is the capital expenditure in thousands of dollars and L is the size of the labor force in worker-hours. Suppose that the current capital expenditure is $220000 and the labor level is 590 worker-hours. a. Find the current marginal productivity of capital Qk- ANSWER: b. Find the current marginal...
Cavy Company estimates that total factory overhead costs will be $613,664 for the year. Direct labor...
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Calculator Cavy Company estimates that total factory overhead costs will be $655,576 for the year. Direct...
Calculator Cavy Company estimates that total factory overhead costs will be $655,576 for the year. Direct labor hours are estimated to be 90,800. a. Determine the: 1. Predetermined factory overhead rate. Round your answer to the nearest cent. per direct labor hour 2. Amount of factory overhead applied to Job 456 if the amount of direct labor hours is 1,100 and Job 888 if the amount of direct labor hours is 2,900. Job 456 Job 888 b. Prepare the journal...
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Question 10 of 10 (1 point) 2.5 Section Exercise 1 At a certain factory, the daily...
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The Dorilane Company produces a set of wood patio furniture consisting of a table and four...
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Cavy Company estimates that total factory overhead costs will be $613,664 for the year. Direct labor hours are estimated to be 101,600. a. Determine the predetermined factory overhead rate. Round your answer to the nearest cent. $ b. Determine the amount of factory overhead applied to Job 345 if the amount of direct labor hours is 1,200 and Job 777 if the amount of direct labor hours is 3,200. Job 345 Job 777 C. Prepare the journal entry to apply...
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Question 10 of 10 (1 point) 2.5 Section Exercise 1 At a certain factory, the daily output is Q(L) -120,00021 units, where L denotes the size of the labor force measured in worker-hours. Currently 1,000 worker-hours of labor are used each day. Estimate the effect on output that will be produced if the labor force is cut to 940 worker-hours. Cutting the labor force to 940 worker-hours will decrease output by approximately units. (Round your answer to the nearest unit.)
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