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Hrd2111:Farm Management Question Paper
Hrd2111:Farm Management
Course:Bachelor Of Horticulture
Institution: Meru University Of Science And Technology question papers
Exam Year:2012
QUESTION ONE – 30 MARKS
(a) Explain the functions of Management. (10Marks) (b) Explain the following: (10Marks) (i) Slack variable (ii) Surplus variable (iii) Shadow prices (iv) An infeasible solution (v) Un bounded solution (c) State the qualities of a good budgeting system. (4Marks) (d) Distinguish between variable costs and fixed costs. (6Marks)
QUESTION TWO – 20 MARKS
The following is the final tableau of a simplex problem.
Basic X1 X2 S1 S2 Z Solution X2 X1 0 1 1 0 5/17 -2/17 -4/17 5/17 0 0 180/17 200/17 Z 0 0 5/17 30/17 1 2900/17
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(a) Interpret the solutions for: (i) X1 (ii) X2 (iii) Z (b) Interpret the 5/17 and 30/17 (4Marks) (c) Provided that: 4x1 + 5x2 = 100 5x1 + 2x2 = 80 X1 X2 =0 (i) Is the above a maximization or minimization problem. (2Marks) (ii) Use graphical method to get the feasible solution. (8Marks)
QUESTION THREE– 20 MARKS
You are provided with the following data, for the month of February – June 2011
Month
Sales Costs Credit Cash Materials Wages Fixed Costs February 10,000 50,000 10,000 6,000 7,000 March 20,000 60,000 11,000 7,000 8,000 April 30,000 70,999 12,000 8,000 8,000 May 40,000 80,000 13,000 8,000 8,000
Notes:
(i) The balance b/d cash Shs. 15,000 for 1/3/2011 (ii) Starting the month of February credit sales are recovered the month that follows in full (100%)
(a) Prepare a 3 months cash flow budget starting March 2012. (15Marks) (b) State the importance of preparing a cash budget. (5Marks)
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QUESTION FOUR - 20 MARKS
(a) Explain the limitations of the Gross Margin Analysis. (12Marks) (b) State and explain the conditions for a feasible linear programming problem. (8Marks)
QUESTION FIVE - 20 MARKS
Explain any four farming systems in Kenya and provide the advantages of each. (20Marks)
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