A company manufactures two types of products, P1 and P2. Each product uses a lathe and milling machine. The processing time for P1 on the lathe is five hours and on the milling machine it is four hours. The processing time for P2 on the lathe is 10 hours and on the milling machine it is four hours. The maximum number of hours per week available on the lathe and the milling machine are 60 hours and 40 hours, respectively. The profit per unit of selling P1 and P2 are RO 6.00 and RO 8.00, respectively. Formulate a linear programming model to determine the production volume of each product such that the total profit is maximized. Solution The data of the problem are summarized in Table 1

A company manufactures two types of products, P1 and P2. Each product uses a lathe and milling machine. The processing time for P1 on the lathe is five hours and on the milling machine it is four hours. The processing time for P2 on the lathe is 10 hours and on the milling machine it is four hours. The maximum number of hours per week available on the lathe and the milling machine are 60 hours and 40 hours, respectively. The profit per unit of selling P1 and P2 are RO 6.00 and RO 8.00, respectively. Formulate a linear programming model to determine the production volume of each product such that the total profit is maximized. Solution The data of the problem are summarized in Table 1

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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