Set Up the System of Equations and Then Solve It

question 160

Multiple Choice

Set up the system of equations and then solve it by using inverse matrices. ​
Investment A company offers three mutual fund plans for its employees. Plan I consists of 4 blocks of common stock and 2 municipal bonds. Plan II consists of 8 blocks of common stock, 4 municipal bonds, and 6 blocks of preferred stock. Plan III consists of 14 blocks of common stock, 6 municipal bonds, and 6 blocks of preferred stock. An employee wants to combine these plans so that she has 82 blocks of common stock, 38 municipal bonds, and 36 blocks of preferred stock. How many units of each plan does she need?
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Definitions:

Manufacturing Overhead

Indirect costs related to manufacturing that are not directly associated with the product, such as maintenance, utilities, and salaries of supervisors.

Underapplied

This term refers to a situation where the allocated manufacturing overhead costs are less than the actual overhead costs incurred.

Overapplied

Overapplied refers to a situation where the allocated overhead cost in an accounting period is greater than the actual overhead cost.

Cost of Goods Manufactured

The total production cost of goods completed during a specific period, including labor, materials, and overhead costs.