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Integer Programming
It is a technique for solving a linear programming model with an added constraint that the decision variables must only be non-negative integers.
In the case of linear programming there is no single, method that can be used for solving all types of integer linear programming problems.
Two widely used methods are:
• The method of integer forms• Branch and bound techniques
Simplex method (or graphical method) is still valid if the required answer gives integer values.
Material usage variance Difference among standard quantity of material and actual quantity used is the material usage variance. This variance arises due to: Economic use of
Product life cycle Every product has a life cycle. The life cycle of a product vary from months to various years. For example in the case of cameras photocopying machines etc.
5 application areas of linear programing in management accounting
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Representation of Simplex method We shall use the example previously stated for the graphical solution. The standard form of the model is given by: Maximize : Z = 3X E + 2
Gather data concerning the relationship among the dependent and independent variables Collecting data is generally the most hard and time-consuming element of CER development.
Various stages of product life cycle Typically the life cycle of a manufactured product will consist of the following stages: 1) market research : before any investment in
Identification of decision packages - Zero base budgeting Each manager should break down his decision unit into smaller decision packages. Top manager may lay down the minimum
Cash budget is a detailed budget of income and cash expenditure including both capital and revenue items. For control reasons the year's budget is usually phased in smaller periods
prepare all budgets
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