Phil Bert's Nuthouse Is Preparing a New Product, a Blend

question 35

Essay

Phil Bert's Nuthouse is preparing a new product, a blend of mixed nuts. The product must be at most 40% peanuts, must have more almonds than cashews, and must be at least 15% pecans. The blend will be sold in half-pound bags. Phil's goal is to mix the nuts in such a manner that all conditions are satisfied and the cost per bag is minimized. Peanuts cost $1 per pound. Cashews cost $5 per pound. Almonds cost $3 per pound, and pecans cost $6 per pound. Formulate this problem as a linear program.

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Definitions:

Traditional Overhead Costing Systems

Costing systems that allocate overhead to products based on predetermined overhead rates, often using direct labor hours or machine hours as the allocation base.

Allocated Overhead Costs

Expenses related to the indirect costs of production that are assigned to specific products or departments based on a formula or method.

Allocation Methods

Allocation methods are accounting strategies used to distribute costs or revenues among different departments, products, or processes within a company.

Overhead Costs

Indirect expenses related to the operation of a business that are not directly assignable to a specific product or service.