12 Productco produces three products. Each product requires labor, lumber, and paint. The resource requirements, unit price, and variable cost (exclusive of raw materials) for each product are given in Table 70. Currently, 900 labor hours, 1,550 gallons of paint, and 1,600 board feet of lumber are available. Additional labor can be purchased at $6 per hour, additional paint at $2 per gallon, and additional lumber at $3 per board foot. For the following two sets of priorities, use preemptive goal programming to determine an optimal production schedule. For set 1: Priority 1 Obtain profit of at least $10,500. Priority 2 Purchase no additional labor. Priority 3 Purchase no additional paint. Priority 4 Purchase no additional lumber. For set 2: Priority 1 Purchase no additional labor. Priority 2 Obtain profit of at least $10,500. Priority 3 Purchase no additional paint. Priority 4 Purchase no additional lumber. 13 Jobs at Indiana University are rated on three factors: Factor 1 Complexity of duties Factor 2 Education required Factor 3 Mental and or visual demands For each job at IU, the requirement for each factor has been rated on a scale of 1–4, with a 4 in factor 1 representing high complexity of duty, a 4 in factor 2 representing high educational requirement, and a 4 in factor 3 representing high mental and/or visual demands. TABLE 70 Variable Cost ($) Product Labor Lumber Paint Price ($) 1 1.5 2 3 26 10 3 [2 2 3 2 28 6 3 2 31 7 م
12 Productco produces three products. Each product requires labor, lumber, and paint. The resource requirements, unit price, and variable cost (exclusive of raw materials) for each product are given in Table 70. Currently, 900 labor hours, 1,550 gallons of paint, and 1,600 board feet of lumber are available. Additional labor can be purchased at $6 per hour, additional paint at $2 per gallon, and additional lumber at $3 per board foot. For the following two sets of priorities, use preemptive goal programming to determine an optimal production schedule. For set 1: Priority 1 Obtain profit of at least $10,500. Priority 2 Purchase no additional labor. Priority 3 Purchase no additional paint. Priority 4 Purchase no additional lumber. For set 2: Priority 1 Purchase no additional labor. Priority 2 Obtain profit of at least $10,500. Priority 3 Purchase no additional paint. Priority 4 Purchase no additional lumber. 13 Jobs at Indiana University are rated on three factors: Factor 1 Complexity of duties Factor 2 Education required Factor 3 Mental and or visual demands For each job at IU, the requirement for each factor has been rated on a scale of 1–4, with a 4 in factor 1 representing high complexity of duty, a 4 in factor 2 representing high educational requirement, and a 4 in factor 3 representing high mental and/or visual demands. TABLE 70 Variable Cost ($) Product Labor Lumber Paint Price ($) 1 1.5 2 3 26 10 3 [2 2 3 2 28 6 3 2 31 7 م
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
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Transcribed Image Text:12 Productco produces three products. Each product
requires labor, lumber, and paint. The resource requirements,
unit price, and variable cost (exclusive of raw materials) for
each product are given in Table 70. Currently, 900 labor
hours, 1,550 gallons of paint, and 1,600 board feet of lumber
are available. Additional labor can be purchased at $6 per
hour, additional paint at $2 per gallon, and additional lumber
at $3 per board foot. For the following two sets of priorities,
use preemptive goal programming to determine an optimal
production schedule. For set 1:
Priority 1 Obtain profit of at least $10,500.
Priority 2 Purchase no additional labor.
Priority 3 Purchase no additional paint.
Priority 4 Purchase no additional lumber.
For set 2:
Priority 1 Purchase no additional labor.
Priority 2 Obtain profit of at least $10,500.
Priority 3 Purchase no additional paint.
Priority 4 Purchase no additional lumber.
13 Jobs at Indiana University are rated on three factors:
Factor 1 Complexity of duties
Factor 2 Education required
Factor 3 Mental and or visual demands
For each job at IU, the requirement for each factor has been
rated on a scale of 1–4, with a 4 in factor 1 representing
high complexity of duty, a 4 in factor 2 representing high
educational requirement, and a 4 in factor 3 representing
high mental and/or visual demands.
TABLE 70
Variable
Cost ($)
Product
Labor
Lumber
Paint
Price ($)
1
1.5
2
3
26
10
3
[2
2
3
2
28
6
3
2
31
7
م
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