A furniture company manufactures desks and chairs. Each desk requires 29 hours to manufacture and contributes $400 to profit, and each chair requires 19 hours to manufacture and contributes $250 to profit. Due to marketing restrictions, a total of 2000 hours are available. Use Solver to maximize the company’s profit.What is the maximum profit?How many desks and chairs should the company manufacture?Of the 2000 available hours, how many hours will be used?

This sum can be solved using Linear Programming method as well as algebraic method. 1:…

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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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A furniture company manufactures desks and chairs. Each desk requires 29 hours to manufacture and contributes $400 to profit, and each chair requires 19 hours to manufacture and contributes $250 to profit. Due to marketing restrictions, a total of 2000 hours are available.

Use Solver to maximize the company’s profit.
What is the maximum profit?
How many desks and chairs should the company manufacture?
Of the 2000 available hours, how many hours will be used?

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