Dear Tutor,

Could you please help me with the below question:

A manufacturer of pocket calculators produces two models: the X400 and the Z500. Each of these models requires one or two circuit boards and production time. Each X400 requires one circuit board and 15 minutes of production time. Each Z500 requires two circuit boards and 30 minutes of production time. For the upcoming week, the manufacturer has 2,000 circuit boards and 500 hours of production time available. The manufacturer also wants to meet existing order of 300 units for the X400 model and 500 units of the Z500 model. Each X400 contributes $2.50 and each Z500 contributes $4 to the overall profit.

Using Excel's Solver: what is the optimal solution? In other words, how many of each model should be produced and what is the overall profit?