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Cost and Production Problem

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The Best Plane Company supplies airplane sheet metal panels that are used in exterior of the planes. Making these panels require 5 sheet metal forming machines, which costs $300 each and workers. These workers can be hired on an as needed basis in the market at $7,000.00 each.

Market price is each panel is $50.00 dollars each.

How many workers should the best plane company hire?

See table below:

sheet metal machines Workers # of panels produced
5 0 0
5 1 600
5 2 1000
5 3 1290
5 4 1480
5 5 1600
5 6 1680

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Solution Summary

Help is given to solve a cost and production problem.

$2.19