A factory makes three products called Bloom, Amber, and Leaf, from three materials containing Cotton, Wool,...
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A factory makes three products called Bloom, Amber, and Leaf, from three materials containing Cotton, Wool, and Nylon. The following table provides details on the sales price, production cost, and purchase cost per ton of products and materials respectively. Sales price Production cost Purchase price Bloom $60 $5 Cotton $40 Amber $55 $4 Wool $45 Leaf $60 $5 Nylon $30 The maximal demand (in tons) for each product, the minimum cotton and wool proportion in each product are as follows: Demand min Cotton proportion min Wool proportion Bloom 4200 50% 40% Amber 3200 60% 40% Leaf 3500 40% 30% a) Formulate an LP model for the factory that maximizes the profit, while satisfying the demand and the cotton and wool proportion constraints. [20 Marks] b) Solve the model using R/R Studio. Find the optimal profit and optimal values of the decision variables. [20 Marks] Hints: Let xij≥ 0 be a decision variable that denotes the number of tons of products j for j = {1 = Bloom, 2 = Amber, 3 = Leaf } to be produced from Materials i e (C=Cotton, W=Wool, N=Nylon}. The proportion of a particular type of Material in a particular type of Product can be calculated as: e.g., the proportion of Cotton in product Bloom is given by: XC1 xC1 + XW 1 + XN 1. A factory makes three products called Bloom, Amber, and Leaf, from three materials containing Cotton, Wool, and Nylon. The following table provides details on the sales price, production cost, and purchase cost per ton of products and materials respectively. Sales price Production cost Purchase price Bloom $60 $5 Cotton $40 Amber $55 $4 Wool $45 Leaf $60 $5 Nylon $30 The maximal demand (in tons) for each product, the minimum cotton and wool proportion in each product are as follows: Demand min Cotton proportion min Wool proportion Bloom 4200 50% 40% Amber 3200 60% 40% Leaf 3500 40% 30% a) Formulate an LP model for the factory that maximizes the profit, while satisfying the demand and the cotton and wool proportion constraints. [20 Marks] b) Solve the model using R/R Studio. Find the optimal profit and optimal values of the decision variables. [20 Marks] Hints: Let xij≥ 0 be a decision variable that denotes the number of tons of products j for j = {1 = Bloom, 2 = Amber, 3 = Leaf } to be produced from Materials i e (C=Cotton, W=Wool, N=Nylon}. The proportion of a particular type of Material in a particular type of Product can be calculated as: e.g., the proportion of Cotton in product Bloom is given by: XC1 xC1 + XW 1 + XN 1.
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Related Book For
Managerial accounting
ISBN: 978-0471467854
1st edition
Authors: ramji balakrishnan, k. s i varamakrishnan, Geoffrey b. sprin
Posted Date:
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