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
-
On December 31, Wright Company noted the following transactions that occurred during 2008, some or all of which might require adjustment to the books. (a) Payment of $3,100 to suppliers was made for...
-
Trini Company set the following standard costs per unit for its single product. Overhead is applied using direct labor hours. The standard overhead rate is based on a predicted activity level of 80%...
-
The standard mix to produce one unit of product is as follows: Material A = 60 units @ Rs. 15 per unit = Rs. 900 Material B = 80 units @ Rs. 20 per unit = Rs. 1,600 Material C = 100 units @ Rs. 25...
-
Charles Rubin is a 30-year employee of General Motors. Charles was pleased with recent negotiations between his employer and the United Auto Workers. Among other favorable provisions of the new...
-
Please zoom in to see questions Income Statement Project 2018 2019 2020 Revenue: Book Sales Ticket Sales Total Revenue: Expenses: Salary Depreciation Supplies Directions: Build an income statement...
-
A large manufacturing firm is concerned about lost production (i.e., production capability that was not utilized for a variety of reasons). One of the causes of such lost production was identified as...
-
Farrow Company reports the following annual results. Contribution Margin Income Statement Sales (360,000 units) Variable costs Direct materials Direct labor Overhead Contribution margin Fixed costs...
-
Consider a piston with an orifice in a cylinder filled with a fluid of viscosity \(\mu\) as shown in Fig. 1.106. As the piston moves in the cylinder, the fluid flows through the orifice, giving rise...
-
Add a function to SmallWorld that computes the global clustering coefficient of a graph. The global clustering coefficient is the conditional probability that two random vertices that are neighbors...
-
Show that the generators of the algebra (33.8) are related by parity. For a Dirac wavefunction the action of parity is $P \psi(\boldsymbol{x}, t) P^{-1}=\gamma_{0} \psi(-\boldsymbol{x}, t)$, up to a...
-
Extend the algorithm you designed for Exercise 6.2 so that it can evaluate positions that are nonterminalin other words, positions where the game has not yet finished. Your score should be positive...
-
In addition to tanh, another s-shaped smooth function, the logistic sigmoid function y=1 / (1+exp(x)), is commonly used as an activation function in neural networks. A common way to implement them in...
-
Solve it quickly within 15 to 30 minutes . Please do it asap . I will give two upvotes immediately. 22 Costs that can be easily traced to a specific product are called period costs. (2 Points) True...
-
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.
-
Explain what information is conveyed by the value of the standard error of the slope estimate.
-
Which values of the slope parameter indicate that no linear relationship exist between the predictor and response variables? Explain how this works.
-
Where would a data point be situated that has the smallest possible leverage?
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App