Linear programming, Managerial Accounting

Linear Programming
   
This section introduces the general method called the simplex algorithm, which is designed to solve any linear program. The information that can be secured from the simplex method goes beyond determining the optimum values of the variables. Indeed, it provides important economic interpretations of the problem and shows how sensitivity analyses can be carried out algebraically.

The simplex method solves linear programming in iterations where the same computational steps are repeated a number of times before the optimum are reached.

The Standard Form of the LP Model:

An LP model may include constraints of the types ≤, =, and ≥. Moreover, the variables may be non-negative or unrestricted in sign.  In order to develop a general solution method, the LP problem must be put in a common format, which we call the standard form. The properties of the standard LP form are:

1) All constraints are the equations with non-negative right-hand side.
2) All the variables are non-negative.
3) The objective function might be maximization or minimization.

Posted Date: 12/7/2012 6:04:08 AM | Location : United States







Related Discussions:- Linear programming, Assignment Help, Ask Question on Linear programming, Get Answer, Expert's Help, Linear programming Discussions

Write discussion on Linear programming
Your posts are moderated
Related Questions
Write a response to your boss, the controller. The response should be 2-5 pages in length (double-space). Your response to the controller should include, but not be limited to, t

INTRODUCTION AND RATIONALE The purpose of this assignment is to help students further develop a number of the skills and knowledge required and valued by the accountancy profe

The Braggs & Struttin'' Company manufactures an engine for carpet cleaners called the "Snooper." Budgeted cost and revenue data for the "Snooper" are given below, based on sales of

The revolving credit facility will be specified by the banker to the customer through providing specific amount of credit facility for a continuous basis. The borrower will not be

Question: A company has budgeted to produce and sell 10,000 units of a product, the selling price and the variable cost per unit of which is Rs 20 and Rs 12 respectively. Fixe

Case Study Labor standards Geeta & Company has experienced increased production costs. The primary area of concern identified by management is direct labor. The compa

Outline Five characteristics of relevant cost

Cyclic Chains: In Markov Chains the current state of the system depends on all previous states. It is a stochastic process.  Sometimes transition probability matrices are diff

Problem 1 Management accounting is sensitive to management needs; however, it assists the management and does not replace it. Write down in detail the scope of management accou

Application of Information technology in respect of management information system