The lakeside boatworks is planning to manafacture three, Ask an Expert

Statistics

The Lakeside Boatworks is planning to manafacture three types of molded fiber glass recreational boats-a fishing (bass) boat, a ski boat, and a small speedboat. The estimated selling price and variable cost for each type of boat are summarized in the following table.

Boat Variable Cost Selling Price
Bass $ 12,500 $23,000
Ski $ 8,500 $18,000
Speed $ 13,700 $26,000

The company has incurred fixed costs of $2,800,000 to set up its manufacturing operation.If company plans to produce twice as many fishing boat as ski boat respectively with propotion 2:1:1

1. Find number of each type of boat to produce for break even

2. What is break even dollar value

View complete question

Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M91015204

Have any Question?Write your Review or question?

Related Questions in Statistics and Probability

You have two investments that either make money or lose

You have two investments that either make money or lose money. Each one has a 60 percent chance of making money, and a forty percent chance of losing money. There is a 30 percent chance that both investments make money. ...

The blenders produced by a company have a normally

The blenders produced by a company have a normally distributed life span with a mean of 8.2 years and a standard deviation of 1.3 years. What warranty should be provided so that the company is replacing at most 10% of th ...

The caloric consumption ofnbsp44nbspadults was measured and

The caloric consumption of 44 adults was measured and found to average 2,113. Assume the population standard deviation is 270 calories per day. Construct confidence intervals to estimate the mean number of calories consu ...

1 choose all probability distributions which are

1. Choose all probability distributions which are theoretically related to normal probability distribution 2. The 68-95-99.7 rule states that in a normal distribution 3. For a normal distribution the a mean of 179 and st ...

Express courier service has found that the delivery time

Express Courier Service has found that the delivery time for packages is normally distributed with mean 14 hours and standard deviation 2 hours. a. What percent of the packages will be delivered in less than 18 hours? b. ...

While preparing for their comeback tour the flaming rogers

While preparing for their comeback tour, the flaming Roger's find that the average time it takes their sound tech to set up for a show is 61 minutes, with a standard deviation of 4.1 minutes. If the band manager decides ...

A forest type consists of three species of trees25 are

A forest type consists of three species of trees: 25% are Douglas-fir 40% are Hemlock 35% are Western Red Cedar a) What is the probability that a tree selected at random will be a Douglas-fir? b) What is the probability ...

A shipment contains 11 tvs of which two are defective a

A shipment contains 11 TV's, of which two are defective. A sample of three TV's is selected at random. In how many ways can no defective TV's be chosen?

Find the modified internal rate of return mirr for the

Find the modified internal rate of return (MIRR) for the following series of future cash flows if the company is able to reinvest cash flows received from the project at an annual rate of 8.24 percent. The initial outlay ...

Confidence1the daily sales of burger baby restaurants

Confidence 1.The daily sales of Burger Baby restaurants follow the normal distribution with a standard deviation of $4000. a. A sample is taken of 50 restaurants and the average sales were $40,000/day. What is the 99% co ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Statistics and Probability Expert