A furniture manufacturer produces two types of tables (country and contemporary) using three types of machines....
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
A furniture manufacturer produces two types of tables (country and contemporary) using three types of machines. The time required to produce the tables on each machine is given in the following table. Machlne Country Contemporary Total Machine Time Avallable per Week Router 1.5 2.0 1,000 Sander 3.0 4.5 2,000 Polisher 2.5 1.5 1,500 Country tables sell for $350, and contemporary tables sell for $450. Management has determined that at least 20% of the tables made should be country and at least 30% should be contemporary. How many of each type of table should the company produce if it wants to maximize its revenue? a. Formulate an LP model for this problem. b. Create a spreadsheet model for this problem, and solve it using Solver. c. What is the optimal solution? d. How will your spreadsheet model differ if there are 25 types of tables and 15 machine processes involved in manufacturing them? A furniture manufacturer produces two types of tables (country and contemporary) using three types of machines. The time required to produce the tables on each machine is given in the following table. Machlne Country Contemporary Total Machine Time Avallable per Week Router 1.5 2.0 1,000 Sander 3.0 4.5 2,000 Polisher 2.5 1.5 1,500 Country tables sell for $350, and contemporary tables sell for $450. Management has determined that at least 20% of the tables made should be country and at least 30% should be contemporary. How many of each type of table should the company produce if it wants to maximize its revenue? a. Formulate an LP model for this problem. b. Create a spreadsheet model for this problem, and solve it using Solver. c. What is the optimal solution? d. How will your spreadsheet model differ if there are 25 types of tables and 15 machine processes involved in manufacturing them?
Expert Answer:
Answer rating: 100% (QA)
a The formulation is as follows b The spreadsheet model of the same is as follows T... View the full answer
Related Book For
Fundamentals of corporate finance
ISBN: 978-0470876442
2nd Edition
Authors: Robert Parrino, David S. Kidwell, Thomas W. Bates
Posted Date:
Students also viewed these general management questions
-
If it wants to be more competitive with Pepsi, why doesn't Coca-Cola simply increase Walmart's margin on Powerade?
-
The Burger Doodle restaurant chain purchases ingredients from four different food suppliers. The company wants to construct a new central distribution center to process and package the ingredients it...
-
Deficit Corp. management has determined that they will come up short by $50 million on the firms debt obligations at the end of this year. Management has identified a positive NPV project that will...
-
In Problems 5978, solve each equation in the complex number system. x 2 - 4 = 0
-
What are three purposes of an oral communication message? Identify a business scenario that would be appropriate for each purpose.
-
Describe the three problems that make the CPI an imperfect measure of the cost of living.
-
Toughness of a material means (a) High strength (b) High hardness (c) Ability to absorb strain energy (d) Limit of proportionality
-
Nautilus Resources is investing in a new heavy oil upgrader in northern Alberta. Nautilus has hired Rite Build Contractors to construct the facilities. The contract price is $3,600 million to be...
-
Explain the use of predictive maintenance techniques within TPM. How do advanced technologies like machine learning, artificial intelligence, and condition-based monitoring improve equipment lifespan...
-
As of January 1, 2012, the trial balance for Haven Hospital was as follows: During the fiscal year ended December 31, 2012, the following transactions occurred: 1. Patient service revenue amounted to...
-
An experiment finds that the force acting on a particle follow this equation very closely: F = Ax + 6 Cx+ where F has units of Newtons (N) and x B has units of meters (m). Sect all true statements. D...
-
This problem concerns Trivium. Assume that IV is a zero vector (all zeros) and key bits are all 1s. Find the first five output bits. Note that these are not used for encryption since the warm-up...
-
McLeod Motors Ltd. Identify each step in the BN-88-55 production process and identify where inventory exists in the system. What functions does it serve? What would be the cost of not having this...
-
You will write the Flight method assignGroup, which is described as follows. The parameter to the Flight method assignGroup is a list of passengers, group. These passengers require a block of...
-
uild a predictive maintenance system for industrial machinery using IoT sensors and machine learning. The system should predict potential equipment failures and schedule maintenance to minimize...
-
The firm has $0.500 billion in outstanding debt. Its total value is $2 billion. Its cost of debt (rd) is 8% and its cost of equity is (re) is 12%.What is its weighted average cost of capital (WACC)...
-
3. Galileo claimed everything experienced acceleration downward of about 10 m/s2. In light of Newton's ideas about forces, what's wrong with Galileo's statement? Suggest a better version of it that...
-
The baseball player A hits the ball from a height of 3.36 ft with an initial velocity of 34.8 ft/s. 0.14 seconds after the ball is hit, player B who is standing 15 ft away from home plate begins to...
-
Which financial institution is usually the most important to businesses?
-
Hathaway, Inc., a resort company, is refurbishing one of its hotels at a cost of $7.8 million. Management expects that this will lead to additional cash flows of $1.8 million for the next six years....
-
Which is easier to calculate directly, the expected rate of return on the assets of a firm or the expected rate of return on the firms debt and equity? Assume that you are an outsider to the firm.
-
A crystal sample of bacteriorhodpsin, a light-sensitive protein found in halobacteria that responds to light energy, has crystal planes separated by 0.20 nm. If a beam of 11 keV x rays illuminates a...
-
A nickel crystals work function is measured to be 5.22 eV at 25C. As the temperature increases by 300C, the work function drops by 50 meV. By how much does this shift the threshold wavelength for...
-
Investigators have created structures consisting of linear chains of ionized atoms on a smooth surface. Electrons are restricted to travel along the chain. The energy levels of the electrons match...
Study smarter with the SolutionInn App