Question: Please help me to solve this question with Excel file ( This class mainly uses SOLVER Function ) . Bob makes blouses and he's good
Please help me to solve this question with Excel file This class mainly uses SOLVER Function
Bob makes blouses and he's good at it Bob would rather make profit and be good at that. With that in mind, Bob wants you to find the best use of his available resources in order to maximize his profits. Material requirements, additional labor costs, and selling prices for each inventory item are included in the table to the right. Additional considerations are listed below.
Bob has a the following resources available to him: Wool, Acetate, Cashmere, Silk, Rayon, Velvet, Cotton. Extra material can be saved and used in future months at no additional cost.
Bob also has some ideas regarding demand and knows he wants to produce subject to the following constraints.
At least:
Itchy Pants
Wool Blazers
Tailored Skirts
No more than:
Velvet Pants
Velvet Vests
Cashmere Sweaters
Silk Shirts
Silk Skirts
Your profit calculations should consider $ in fixed expenses. Develop a spreadsheet model and solve for the optimal solution to maximize profit. Then adjust and use your model to answer the questions on the next sheet.
Please copy and paste your solved model for the following questions. Additionally please provide a short answer sentences answering the questions. Consider all changes individually unless otherwise noted. Make sure you scroll down to see all the questions
A There's recently been a shortage of skilled seamstresses and the labor costs for the silky smooth shirt, silky smooth skirt, and velvet pants have increased by What happens to your optimal solution and answer?
B We've recently identified ways to make our fabric cover more area. All Acetate and Rayon requirements have been reduced by what happens to your optimal solution and answer?
C If we choose not to make any clothes requiring Velvet we can reduce our fixed costs by $ Is this worth pursuing?
D We've just been informed that we can obtain an extra acetate. How much should we be willing to pay to purchase it and what does our optimal production look like with the additional materials?
E We've developed brand new antiitch technology that will increase the selling price of the itchy pants to $unit but also increase the wool and acetate requirements by Is it worth making this change?
F Consider both the effects listed in A & B and then answer the question posed in D
G Assuming the original constraints, if Bob could gain more of any one material, what would you pick and why? If you make any assumptions when answering this question please include them.tableItemItchy Pants,Softest Sweater,Silky Smooth Shirt,Silky Smooth Skirt,Tailored Skirt,Wool Blazer,Vivaciously Velvet Pants,Common Cotton Sweater,Common Cotton Skirt,Velvet Vest,Blue Button DownSelling Price,Labor Cost,tableWool Required,Acetate Required,Cashmere Required,,Silk Required,,,Rayon Required,,,,,Velvet Required,,,,,,,Cotton Required,,,,,,,,
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