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Answered: - I figured out how to fill out both tables, but I am needing help


I figured out how to fill out both tables, but I am needing help with the rest of the hw starting after the first table on #1


I. SUBSTITUTION

 

Assume you have some 135 lb. hogs on feed and would like to have them gain another 130 lbs.

 

before they are sold. Research has shown that any one of the following combinations of corn

 

and soybean oil meal (SBOM) will put 130 lbs. of gain on a 135 lb. hog. Your problem is to find

 

the combination (i.e., Ration Number) which will put on the gain for the least cost. Complete the

 

table and answer the questions which follow.

 


 

8-1

 


 

Ration

 

Number

 


 

Corn

 

(lbs.)

 


 

SBOM

 

(lbs.)

 


 

Substitution

 

Ratio

 


 

#1

 


 

421.2

 


 

35

 


 

XXX

 


 

#2

 


 

395.7

 


 

40

 


 

#3

 


 

376.0

 


 

45

 


 

#4

 


 

360.5

 


 

50

 


 

#5

 


 

347.1

 


 

55

 


 

#6

 


 

335.8

 


 

60

 


 

#7

 


 

326.2

 


 

65

 


 

#8

 


 

317.5

 


 

70

 


 

#9

 


 

310.0

 


 

75

 


 

#10

 


 

303.8

 


 

80

 


 

2

 


 

1.

 


 

For each price combination, compute the price ratio and find the corresponding least-cost

 

ration.

 

Price

 

Least-Cost

 

Ratio

 

Ration No.

 

a)

 

b)

 

c)

 

d)

 

e)

 


 

Corn at 4.0? per lb., SBOM at 12? per lb.

 

Corn at 5.7? per lb., SBOM at 7.5? per lb.

 

Corn at 5.0? per lb., SBOM at 9? per lb.

 

Corn at 6.5? per lb., SBOM at 14? per lb.

 

Corn at 3.0? per lb., SBOM at 15? per lb.

 


 

3

 


 

_________

 

_________

 

_________

 

_________

 

_________

 


 

Lab #6

 

2.

 


 

Is the least-cost ration really least-cost? Let's do one check. Using the prices in question

 

#1a) above, figure the total cost of your least-cost ration for question #1a) and for Ration

 

#8. How much money would you save by feeding your least-cost ration instead of Ration

 

#8? SHOW WORK!

 

Ans.

 


 

3.

 


 

If corn costs 4.4? per lb., what would SBOM have to cost to make ration #6 the least-cost

 

ration? SHOW WORK!

 

Ans.

 


 

4.

 


 

What happens to the least-cost ration if the price of both feeds doubles? WHY?

 


 

5.

 


 

What would happen to the substitution ratios you have calculated if the corn values were

 

all 10 lbs. higher? What would happen to the total cost of any of the least-cost rations?

 


 

8-4

 


 

II.

 


 

Assume the following table gives the various combinations of silage and grain that will

 

produce 20,000 pounds of milk per year. The problem is to find which ration will give the

 

lowest cost of milk production. Complete the table and answer the questions below.

 


 

Ration No.

 


 

Grain (lbs.)

 


 

Silage (lbs.)

 


 

Substitution Ratio

 


 

1

 


 

4,000

 


 

12,240

 


 

XXX_______

 


 

2

 


 

4,500

 


 

10,400______________________

 


 

3

 


 

5,000

 


 

8,760______________________

 


 

4

 


 

5,500

 


 

7,300______________________

 


 

5

 


 

6,000

 


 

6,000______________________

 


 

6

 


 

6,500

 


 

4,840______________________

 


 

7

 


 

7,000

 


 

3,800______________________

 


 

8

 


 

7,500

 


 

2,860______________________

 


 

9

 


 

8,000

 


 

2,000______________________

 


 

10

 


 

8,500

 


 

1,200_______________________

 


 

1. What is the least-cost ration for each of the following price combinations?

 

a) Grain at 7 cents and silage at 4.0 cents per lb. __________________________

 

b) Grain at 8 cents and silage at 4.0 cents per lb. __________________________

 

c) Grain at 9 cents and silage at 4 cents per lb. __________________________

 

d) Grain at 9 cents and silage at 5 cents per lb. __________________________

 

2. For your answer to 1a) above:

 

a) What is the total cost of this ration?

 


 

__________________________

 


 

b) What is the average feed cost per hundred weight (cwt.) of milk?

 


 

8-5

 


 

 


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