Question: I need the steps in excel, so I can use solver. The Pine Furniture Company makes fine country furniture. The company's current product lines consist
I need the steps in excel, so I can use solver.
The Pine Furniture Company makes fine country furniture. The company's current product lines consist of end tables, coffee tables, and dining room tables.
The production of each of these tables requires 8, 15, and 80 pounds of pine wood, respectively.
The tables are handmade and require one hour, two hours, and four hours, respectively. Each table sold generates $50, $100, and $220 profit, respectively.
The company has 3,000 pounds of pine wood and 200 hours of labor available for the coming week's production.
The chief operating officer (COO) has asked you to do some spreadsheet modeling with these data to analyze what the product mix should be for the coming week and make a recommendation.
What is the optimal product mix?
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