Question: Please explain how to solve using Excel with cell refences Gatson manufacturing company produces 2 types of tires: Economy tire; Premium tire. The manufacturing time

Please explain how to solve using Excel with cell refences

Gatson manufacturing company produces 2 types of tires: Economy tire; Premium tire. The manufacturing time and the profit contribution per tire are given in the following table.

a. Using the developed spreadsheet model, find the optimal solution using Excel Solver. How many tires of each model should Gatson manufacture? b. What is the total profit Gatson can earn with the optimal production quantities?

Manufacturing Time (Hours) Time Available
Operation Economy tires Premium tires Hours
Material Preparation 1.33 0.50 600
Tire Building 0.80 1.00 650
Curing 0.50 0.50 580
Final Inspection 0.20 0.33 120
Profit/Tire $ 12.00 $ 10.00
Model
Economy tires Premium tires
Number of tires to produce: 1 1
Profit $ 22.00
Operation Time Used Time Available
Material Preparation 1.83 600
Tire Building 1.80 650
Curing 1.00 580
Final Inspection 0.53 120

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!