Question: russell's method 2. Consider the problem of scheduling the weekly production of a certain item for the next four weeks. The production cost of the

russell's method
2. Consider the problem of scheduling the weekly production of a certain item for the next four weeks. The production cost of the item is $10 for the first two weeks, and $15 for the last two weeks. The weekly demands are 300, 700, 900, and 800, which must be met. The plant can produce a maximum of 700 units each week. In addition, the company can employ overtime during the second and third week. This increases the weekly production by an additional 200 units, but the production cost increases by $5 per item. Excessive production can be stored at a unit cost of $3 per week. How should the production be scheduled, so as to minimize the total cost? (Use the Russell's method for the starting solution)Step by Step Solution
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