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Alan Industries is expanding its product line to include three new products: A, B, and C. These are to be produced on the same production equipment, and the objective is to meet the demands for the three products using overtime where necessary. The demand forecast for the next four months, in hours required to make each product is: PRODUCT APRIL 870 670 770 Regular time Overtine MAY 670 770 570 Because the products deteriorate rapidly, there is a high loss in quality and, consequently, a high carrying cost when a product is made and carried in inventory to meet future demand. Each hour's production carried into future months costs $3 per production hour for A $4 for B, and $5 for C Objective value JUNE 870 970 770 Production can take place either during regular working hours or during overtime. Regular time is paid at $4 when working on A $5 for B, and $6 for C. The overtime premium is 50 percent of the regular time cost per hour The number of production hours available for regular time and overtime is APRIL 1,570 JULY 1,270 1,070 920 HAY 1,300 720 JUNE 1,870 1,100 JULY 2,050 960 Calculate the objective value using Excel Solver. (Do not round intermediate calculations.)

Alan Industries is expanding its product line to include three new products: A, B, and C. These are to be produced on the same production equipment, and the objective is to meet the demands for the three products using overtime where necessary. The demand forecast for the next four months, in hours required to make each product is: PRODUCT APRIL 870 670 770 Regular time Overtine MAY 670 770 570 Because the products deteriorate rapidly, there is a high loss in quality and, consequently, a high carrying cost when a product is made and carried in inventory to meet future demand. Each hour's production carried into future months costs $3 per production hour for A $4 for B, and $5 for C Objective value JUNE 870 970 770 Production can take place either during regular working hours or during overtime. Regular time is paid at $4 when working on A $5 for B, and $6 for C. The overtime premium is 50 percent of the regular time cost per hour The number of production hours available for regular time and overtime is APRIL 1,570 JULY 1,270 1,070 920 HAY 1,300 720 JUNE 1,870 1,100 JULY 2,050 960 Calculate the objective value using Excel Solver. (Do not round intermediate calculations.)

Practical Management Science
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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s Alan Industries is expanding its product line to include three new products: A, B, and C. These are to be produced on the same production equipment, and the objective is to meet the demands for the three products using overtime where necessary. The demand forecast for the next four months, in hours required to make each product is: PRODUCT APRIL 870 670 770 Regular time Overtime MAY 670 770 570 JUNE 870 970 770 Because the products deteriorate rapidly, there is a high loss in quality and, consequently, a high carrying cost when a product is made and carried in inventory to meet future demand. Each hour's production carried into future months costs $3 per production hour for A. $4 for B, and $5 for C APRIL 1,570 770 Production can take place either during regular working hours or during overtime. Regular time is paid at $4 when working on A. $5 for B, and S6 for C. The overtime premium is 50 percent of the regular time cost per hour The number of production hours available for regular time and overtime is JULY 1,270 1,070 920 MAY 1,300 720 JUNE 1,870 1,100 JULY 2,050 960 Calculate the objective value using Excel Solver. (Do not round intermediate calculations.) Objective value
Transcribed Image Text:s Alan Industries is expanding its product line to include three new products: A, B, and C. These are to be produced on the same production equipment, and the objective is to meet the demands for the three products using overtime where necessary. The demand forecast for the next four months, in hours required to make each product is: PRODUCT APRIL 870 670 770 Regular time Overtime MAY 670 770 570 JUNE 870 970 770 Because the products deteriorate rapidly, there is a high loss in quality and, consequently, a high carrying cost when a product is made and carried in inventory to meet future demand. Each hour's production carried into future months costs $3 per production hour for A. $4 for B, and $5 for C APRIL 1,570 770 Production can take place either during regular working hours or during overtime. Regular time is paid at $4 when working on A. $5 for B, and S6 for C. The overtime premium is 50 percent of the regular time cost per hour The number of production hours available for regular time and overtime is JULY 1,270 1,070 920 MAY 1,300 720 JUNE 1,870 1,100 JULY 2,050 960 Calculate the objective value using Excel Solver. (Do not round intermediate calculations.) Objective value
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