Exhibit 3.1 The Following Questions Are Based on This Problem and Accompanying

question 69

Multiple Choice

Exhibit 3.1
The following questions are based on this problem and accompanying Excel windows.
Jones Furniture Company produces beds and desks for college students. The production process requires carpentry and varnishing. Each bed requires 6 hours of carpentry and 4 hour of varnishing. Each desk requires 4 hours of carpentry and 8 hours of varnishing. There are 36 hours of carpentry time and 40 hours of varnishing time available. Beds generate $30 of profit and desks generate $40 of profit. Demand for desks is limited, so at most 8 will be produced. The LP model for the problem is
-Refer to Exhibit 3.1. What formula should be entered in cell D8 in the accompanying Excel spreadsheet to compute the amount of carpentry used?

• A) =B4*B5+C4*C5
• B) =SUMPRODUCT(B8:C8,$B$4:$C$4)
• C) =SUM(B5:C5)
• D) =SUM(E8:E10)

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Definitions:

Qualifying Child

A dependent child who meets specific IRS criteria concerning relationship, age, residency, support, and joint tax filing status, for tax benefits.

Taxpayer's Spouse

The legally married partner of an individual considered for tax filing and benefit eligibility purposes.

Married Filing Jointly

A tax filing status for married couples that allows them to file one tax return jointly, often resulting in lower taxes than filing separately.

Full-Time Student

An individual who is enrolled in a higher education institution for the number of hours or courses the institution considers to be full-time.