Find the System of Equations to Model the Problem

question 27

Essay

Find the system of equations to model the problem. DO NOT SOLVE THIS SYSTEM.
-Labor and material costs for manufacturing each of three types of products M, N, and P are given in the table:
Product The weekly allocation for labor is $50,000 and for materials is $80,000. There are to be 3 times as many units of product
M manufactured as units of product P. How many of each type of product would be manufactured each week to use
exactly each of the weekly allocations? Set up a system of linear equations, letting x1, x2, and x3 be the number
of units of products M, N, and P, respectively, manufactured in one week.

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Definitions:

Direct Labor Cost

The total cost of labor directly involved in the production of goods, including wages and benefits.

Break-Even Point

The level of sales at which profit is zero.

Units Sold

The quantity of product units sold by a company during a particular period.

Income Statement

An accounting statement that provides a summary of a company's revenues, expenses, and net income over a specific period.