The Acme Class Ring Company Designs and Sells Two Types

question 116

Multiple Choice

The Acme Class Ring Company designs and sells two types of rings: the VIP and the SST. They can produce up to 24 rings each day using up to 60 total man-hours of labor. It takes 3 man-hours to make one VIP ring and 2
Man-hours to make one SST ring. How many of each type of ring should be made daily to maximize the
Company's profit, if the profit on a VIP ring is $50 and on an SST ring is $10?

• A) 20 VIP and 4 SST
• B) 24 VIP and 0 SST
• C) 20 VIP and 0 SST
• D) 24 VIP and 4 SST

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Definitions:

Amount Owed

The total sum of money that is due to be paid to another party or lender.

Appraised

The process of professionally evaluating the value of a particular piece of property, such as real estate or a collectible.

Offered for Sale

Products or services made available to customers for purchase.

Buyer Pays

A term indicating that the purchaser is responsible for the cost of shipping and insurance during transportation of goods.