Lockport Marine Services, Inc. wishes to assign a set of jobs to a set of machines. The following table provides data on the cost of production of each job when performed on a specific machine.
a. Determine the set of assignments that maximizes production value.
b. What is the total production value of your assignments?
Definitions:
COGS Formulation
COGS formulation involves calculating the direct costs attributable to the production of the goods sold by a company, including materials and labor.
Cash Collections
The process of gathering and managing the cash payments received from customers or clients.
Sales Forecast
An estimate of the future sales of a product or service over a specific period, based on historical data, market analysis, and other factors.
Accounts Receivable
Money owed to a business by its customers for goods or services that have been delivered but not yet paid for.
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