C. These are to be produc Alan Industries is expanding its product line to include three new products: A, B, 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 MAY 850 650 650 750 A B C JULY JUNE 850 1,250 1,050 908 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 co $3 per production hour for A, $4 for Model B. and $5 for Model C Regular time Overtime 750 950 550 750 Production can take place either during regular working hours or during overtime. Regular time is paid at $20 when working on A, $25 for B, and $30 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 Objective value APRIL 1,550 750 MAY JUNE 1,360 1,850 700 950 Calculate the objective value using Excel Solver. Note: Do not round intermediate calculations. 58,500 JULY 2,000 1,000
C. These are to be produc Alan Industries is expanding its product line to include three new products: A, B, 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 MAY 850 650 650 750 A B C JULY JUNE 850 1,250 1,050 908 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 co $3 per production hour for A, $4 for Model B. and $5 for Model C Regular time Overtime 750 950 550 750 Production can take place either during regular working hours or during overtime. Regular time is paid at $20 when working on A, $25 for B, and $30 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 Objective value APRIL 1,550 750 MAY JUNE 1,360 1,850 700 950 Calculate the objective value using Excel Solver. Note: Do not round intermediate calculations. 58,500 JULY 2,000 1,000
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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I am having a hard time finding the objective value. Can someone help me find the value? thank you!
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Transcribed Image Text: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 MAY
850
650
650
750
750
550
A
B
C
JUNE
850
950
750
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 Model B, and $5 for Model C
Regular time
Overtime
Production can take place either during regular working hours or during overtime. Regular time is paid at $20 when
working on A, $25 for B, and $30 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
Objective value
JULY
1,250
1,050
908
APRIL
1,550
750
MAY
1,360
700
Calculate the objective value using Excel Solver.
Note: Do not round intermediate calculations.
58,500
JUNE
1,850
950
JULY
2,000
1,000
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