A Large Book Publisher Has Five Manuscripts That Must Be

question 44

Essay

A large book publisher has five manuscripts that must be edited as soon as possible. Five editors are available for doing the work, however their working times on the various manuscripts will differ based on their backgrounds and interests. The publisher wants to use an assignment method to determine who does what manuscript. Estimates of editing times (in hours) for each manuscript by each editor is:
$$\begin{array} {c } & &&{ \text { Editor } } \\\text { Manuscript } & \text { A } & \text { B } & \text { C } & \text { D } & \text { E } \\\hline \mathbf { 1 } & 12 & 8 & 10 & 16 & 13 \\\mathbf { 2 } & 9 & 10 & 14 & 13 & 9 \\\mathbf { 3 } & 17 & 14 & 9 & 18 & 12 \\\mathbf { 4 } & 15 & 7 & 11 & 9 & 18 \\\mathbf { 5 } & 12 & 18 & 22 & 11 & 27 \\\hline\end{array}$$
-What are the linear programming constraints for manuscript 1 and editor C?

Calculate and interpret the standard costs and actual costs differences.

Analyze the impact of actual production levels on standard cost variances.

Understand the concept and calculation of direct materials variances, including materials price and quantity variances.

Analyze and calculate the direct labor variances, including labor efficiency and rate variances.

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Definitions:

Annual Accounting Period

A 12-month time span used by businesses for financial reporting and accounting purposes.

Chart of Accounts

A systematic listing of all ledger account names and numbers used by a company, organized by the assets, liabilities, equity, revenue, and expenses.

Closing Entry

Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts and prepare the company's books for the next period.

Debit and Credit

Fundamental concepts in double-entry bookkeeping, where debits are entries on the left side of an account and credits are entries on the right.