1. Formulate the objective functions and constraints (10 marks) 2. Use Excel Spreadsheet to determine the breakdown of each product and the expected profit. (40 marks) 3. Use Excel Spreadsheet to perform the sensitivity analysis. Comments on the following scenarios: a. What would be the impact to the profit and optimal production quantities if the profit for selling tables increases by $100. b. A worker in the assembly department calls in sick that reduces the total available hours by 8. How would this impact the profit and optimal production quantities? (50 marks) Question Jati Furniture is a manufacturer of fine hand-crafted furniture using Jati wood. During the next production period, management is considering producing 3 products; dining room tables, dining room chairs, and/or bookcases. The time required for each item to go through the two stages of production (assembly and finishing), the amount of wood required (fine cherry wood), and the corresponding unit profits are given in the following table, along with the amount of each resource available in the upcoming production period. Table 1: Required resources and profit for each product Bookcases Tables 80 Chairs 40 50 Available 8100 4500 9000 30 Assembly (minutes) Finishing (minutes) Wood (pounds) Unit Profit 20 30 50 80 10 $360 $125 $300