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A company makes two types of telephone answering machines: the standard model and the deluxe model. Each machine passes through three processes: ,
, and
. One standard answering machine requires 1 hour in
, 5 hours in
, and 3 hours in
. One deluxe answering machine requires 3 hours in
, 6 hours in
, and 3 hours in
. Because of employee work schedules,
, is available for 27 hours,
, is available for 63 hours, and
is available for 36 hours. If the profit is $5 for each standard model and $12 for each deluxe model, how many units of each type should the company produce to maximize profit?
Pay-As-You-Go Basis
A financial approach where expenses or charges are paid for at the time of purchase or consumption, rather than on credit.
Fund Benefits
Refers to the advantages or financial aid provided by an investment fund to its investors.
Qualified Plan
A retirement plan that meets the requirements of the Internal Revenue Code and ERISA, offering tax benefits to both employers and employees.
Tax Deductions
Expenses that can be subtracted from gross income to reduce the total amount of income tax owed.
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