# Using the intuitive least cost method for the given transportation problem, answer the following: Cleveland Dayton Erie Supply Allentown \$22 \$16 \$21 100 Philadelphia \$28 \$27 \$18 150 Harrisburg \$25 \$23 \$19 175 Demand 175 175 175 What is the maximum quantity that can be shipped from Allentown to Erie? 100 What is the maximum quantity that can be shipped from Harrisburg to Cleveland? 175 What is the maximum quantity that can be shipped from Harrisburg to Dayton? 75 Which demand location will have an unmet demand? Cleveland Answer 1:

The demand location where demand is unmet is equal to Cleveland. Received only 75 units. 100 units demand is unmet.

Explanation:

Solution

From the example given, we solve for which demand location will have an unmet demand

Now,

The maximum quantity that can be shipped from Allentown to Erie is 100.

The Maximum quantity that can be shipped from Harrisburg to Cleveland is 175

While,

The Maximum quantity that can be shipped from Harrisburg to Dayton is 175

Hence, in case we want an  solution optimum to get the required demand as many as possible with the supply given and with a low costs, then we need to find the optimum solution.

By applying a least cost method called greedy, we need to remove our least costing node and then provide minimum of demand and supply unit a present to each cell.

Thus,

The first least cost is Allentown to Dayton.

From Allentown to Dayton 100 units. Next least cost is Philadelphia to Erie.

From Philadelphia to Erie 150 units. Next least cost is Harrisburg to Erie.

From Harrisburg to Erie 25 units. Next least cost is Harrisburg to Dayton.

From Harrisburg to Dayton 75 units. Next least cost is Harrisburg to Cleveland

From Harrisburg to Cleveland 75 units.

So, for the  optimum solution, the right choice of answer will be

From Allentown to Erie = 0 units

From Harrisburg to Cleveland = 75 units

From Harrisburg to Dayton = 75 units

Therefore, The demand location where demand is unmet  is equal to Cleveland. Received only 75 units. 100 units demand is unmet.

The maximum shipment from Allentown to Erie is 100 units, from Harrisburg to Cleveland is 175 units, and from Harrisburg to Dayton is 75 units. After these shipments, no location has unmet demand.

### Explanation:

The problem at hand relates to the Intuitive Least Cost Method which is a method used in the field of operations research for solving transportation problems. The methodology seeks to minimize the total transport cost while meeting the demand and supply constraints at various sites.

From the provided matrix, the maximum quantity that can be shipped from Allentown to Erie is 100 units as indicated by the supply limit of Allentown. Similarly, Harrisburg can ship a maximum of 175 units to Cleveland and 75 units to Dayton, since after fulfilling the Cleveland demand, 75 units remain for Dayton. Finally, observing the demand, we see that Cleveland will still require 175 - 175 = 0 units, Dayton 175 - 100 = 75 units and Erie 175 - 100 = 75 units. Therefore, no location remains with unmet demand.

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## Related Questions

All three of the \$5000 billion GDP figures (Production, Income and Spending) are in ____________ dollars.

Explanation:

The GDP calculation acquired in the flow chart of \$5,000 billion were all done after adjusting for inflation which means that they were in real dollars.

Inflation adjusted GDP enables more effective comparison between different periods as inflation tends to inflate the prices of goods and services and can make one think that the economy has grown more than it actually has.

When the value of GDP is inflation adjusted, it can then be seen just how much the economy improved or shrank.

Prepaid Rent. On September 1 of the current year, the company prepaid \$44,400 for two years of rent for facilities being occupied that day. The company debited Prepaid Rent and credited Cash for \$44,400.Prepaid RentStep 1: Determine what the current account balance equals.

Step 2: Determine what the current account balance should equal.

Step 3: Record the December 31 adjusting entry to get from step 1 to step 2

Explanation:

The computation is shown below:

a. The current account balance equal to \$44,400

b. The current account balance equal to

Since the company prepaid rent for two years is \$44,400 but we have to compute four four months i.e from September 1 to December 31

We assume the books are closed on December 31

So, the current account balance is

= \$44,400 - \$7,400

= \$37,000

The \$7,400 is come from

= \$44,400 × 4 months ÷ 24 months

= \$7,400

c. And, the adjusting entry is

Rent expense A/c Dr \$7,400

To Prepaid rent A/c \$7,400

(Being rent expense is recorded)

Price gouging is _____ a. irrational behavior that violates economic logic. b. a natural response to a sudden increase in demand. c. not subject to economic analysis, because it is illegal. d. a precisely defined concept that leaves no room for dispute or disagreement.

b. a natural response to a sudden increase in demand.

Explanation:

Price gouging -

It refers to the situation , when the seller increases the price of his services and goods to a very high level , which is a unethical situation , is referred to as price gouging .

The situation of price gouging , is very commonly observed in any natural disaster , where due to shortage of foods and other item , the price of the food increases to a very high price , is referred to as price gouging .

Hence , from the question,

The correct option is b.

KINGBIRD, INC. Income Statement For the Year Ended December 31, 2020 Sales revenue \$446,700
Cost of goods sold 202,300
Gross profit 244,400
Expenses (including \$16,300 interest and \$20,800 income taxes) 70,800
Net income \$ 173,600

1. Common stock outstanding January 1, 2020, was 27,200 shares, and 38,600 shares were outstanding at December 31, 2020.
2. The market price of Kingbird stock was \$15 in 2020.
3. Cash dividends of \$21,700 were paid, \$6,500 of which were to preferred stockholders.

Compute the following measures for 2020.

(a) Earnings per share
(b) Price-earnings ratio
(c) Payout ratio

The computation is shown below:

a. Earning per share

= (Net income - preferred dividend) ÷ (Weighted average number of outstanding shares)

= (\$173,600 - \$6,500) ÷ (27,200 shares + 38,600 shares) ÷ 2

= \$167,100 ÷ 32,900 shares

= \$5.08 per share

b. Price earnings ratio = Market price ÷ Earning per share

= \$15 / \$5.08

= 2.95

c. Payout ratio = Dividend paid ÷ Net income

= (\$21,700 - \$6,500) ÷ (\$173,600)

= 8.76%

According to the law of supply, when prices increase, the quantity of suppliers create _____.

increase

listening to the law when a supplier increases the price their supply increases the quality aswell!!

the answer would be increase for the blank spot

A company finds that there is a linear relationship between the amount of money that it spends on advertising and the number of units it sells. If it spends no money on advertising, it sells units. For each additional spent, an additional units are sold. (a) If is the amount of money that the company spends on advertising, find a formula for , the number of units sold as a function of .

y = 0.01x + 300

Explanation:

There are some missing information in the question that are shown below:

If it spends no money on advertising, it sells 300 units

Given that

Number of units sold in case of no money spending = 300 units

Additional units sold = 15 units

By considering the above information, the formula is presented below:

y = 0.01x + 300

where,

0.01X is come from

= (Number of units sold in case of no money spending + Additional units sold - Number of units sold in case of no money spending) ÷ (Additional money spent)

= (300 units + 15 units - 300 units) ÷ (\$1,500)

= 0.01X