Question: Mr . Smith has a leather factory that makes the following apparel accessory leather wallet, leather belt, and lady leather hand bag that uses similar

Mr. Smith has a leather factory that makes the following apparel accessory leather wallet, leather belt, and lady leather hand bag that uses similar components. Leather wallet can be sold for about $20; leather belt can be sold for about $59; and lady leather hand bag can be sold for $220. The requirement for each product is listed as follows:
Product Leather (sq. Inches) Glue (oz) Leather Thread (inch) Connect Clip
Wallet 202300
Belt 755801
Lady Hand Bag 22531204
Ms. Smith has 40,000 square feet of leather at a cost of $20 each square feet, 20 pound of leather glue $10 per pound, 500 feet of leather thread at $0.89 per feet, and 500 connect clips at $6 each. Mr. Smith has a contract for 100 leather wallet, 20 leather belt, and 2 lady leather hand bag that he must meet. How should Mr. Smith manage this production to maximize the profit?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!