The simplex method, Managerial Accounting

The Simplex Method

In the graphical solution the optimum solution is always associated with a corner (or extreme) point of the solution space. The simplex method is based fundamentally on this idea. It employs an iterative process that starts at a feasible corner point normally the origin, and systematically moves from one feasible extreme point to another until the optimum point is eventually reached.

There are two rules that govern the choice of the next extreme point in the simplex method.

1) The next corner point must be adjacent to the current one.

2) The solution can never go back to a previously considered extreme point.

Posted Date: 12/7/2012 6:24:16 AM | Location : United States







Related Discussions:- The simplex method, Assignment Help, Ask Question on The simplex method, Get Answer, Expert's Help, The simplex method Discussions

Write discussion on The simplex method
Your posts are moderated
Related Questions
The least-cost method The process is described as follows: Assign as much as possible to the variable with the least unit cost in the whole tableau. (Ties are broken randomly).

Incremental budgeting This is used to describe an incremental cost approach to budgeting where the next period budget is based on the current year’s results plus an extra amou

Objectives of ratio analysis 1) Measuring the profitability: we can measure the profitability of the business by calculation gross profit net profit expenses ratio and other.

Accounting Cycle is the name given to the combined process of recording and processing the accounting proceedings of a company. The series of steps start when a transaction takes p

Replacement cost It is the cost of replacing a material or asset, by purchase from the current market. If an X material was originally purchased @ Rs. 250 per Kg. And know i

Determine the Need and importance of management accounting: 1.Increasing efficiency: management accounting increases efficiency of business operations. The targets of differe


Pricing decision Price may be defined as the exchange of goods or services in terms of money. Without price firm can survive in the society. If money is not there exchange of g

Q. Pricing over the life cycle of a product? The cycle begins with the invention of the new product. The innovation of a new product and its degeneration to a common product is

Queue discipline 1) It refers to the manner in which customers behave in a queue, and to the order in which they are served up. For illustration; A customer may arrive at a que