Operations/Supply Chain Problem

Explain any formulas used and steps when solving.

You are the decision maker of an electronic company that manufactures two radio models, each on a separate production line. The daily capacity of the first line is 60 radios and that of the second is 75 radios. Each unit of the first model uses 10 pieces of a certain electronic component, whereas each unit of the second model requires 8 pieces of the same component. The maximum daily availability of the special component is 800 pieces. The profit per unit of models 1 and 2 is $30 and $20, respectively. Determine the optimum daily production of each model so that the company can earn maximum profit