Proctoring Enabled: Chapter 7 Using Binary Integer Progr...SavedHelp3.A manufacturer produces both widgets and gadgets. Widgets generate a profit of $75 each and gadgets have a profit margin of $65each. To produce each item, a setup cost is incurred. This setup cost is $400 for widgets and $300 for gadgets. Widgets consume 4units of raw material A and 8 units of raw material B. Gadgets consume 6 units of raw material A and 2 units of raw material B. Eachday, the manufacturer has 400 units of each raw material available. Assume that it is possible to produce fractional quantities ofwidgets and gadgets.Set up the problem in Excel and find the optimal solution.a. The manufacturerwidgets andgadgets.(Leave no cells blank - be certain to enter "O" wherever required. Round your answers to 2 decimal places.)b. The manufacturer will producewidgets andgadgets(Round your answer to 2 decimal places.)cThe manufacturer's profit will beMcGrawHill< Prev3 of 5Next >

Answered: A manufacturer produces both widgets…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Identify the five steps involved in the managerial decision- making process.
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The Northridge Company tends to keep the inventory low. At the same time, it is important to respond to demand quickly, since a customer who wants a product K is very likely to get one from a competitor if Northridge Company doesn’t have one available immediately. Northridge Company’s current policy to produce the product K is to produce 100 per week, which is the average demand. Even this is a problem, as the production manager has pointed out, since the equipment is also used for other products and the lot size of 300 would be much more efficient. He said he is currently set up the production for product K for the next week and states that he has capacity available to produce 300 at a time next week. The following lists the forecasts and actual customer orders for the next 12 weeks. Week 1 2 3 4 5 6 7 8 9 10 11 12 Forecast 90 120 110 80 85 95 100 110 90 90 100 110 Customer Orders 105 97 93 72 98 72 53 21…
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the variable cost will be constant regardless the number of units produced true false
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