A Rancher Is Going to Build a 3-Sided Cattle Enclosure

question 603

Essay

A rancher is going to build a 3-sided cattle enclosure with a divider down the middle as shown to the right. The cost per foot of the 3 side walls will be $8/foot, while the back wall, being taller, will be $16/foot. If the rancher wishes to enclose an area of 15,000 ft², what dimensions of the enclosure will minimize his cost?

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Definitions:

Journal Entry

A record in accounting that notes every transaction a business makes, providing a chronological log necessary for the financial statements.

Promissory Note

A written, legal agreement where one party promises to pay another a specific sum of money on a certain date or upon demand.

Accounts Receivable

Money owed to a business by its customers for goods or services provided on credit.

Paper Company

A business entity created, often in a tax haven, for the purpose of managing investment or conducting transactions without engaging in operational business activities.