Colonial Furniture produces hand-crafted colonial style furniture. Plans are now being made for the production of rocking chairs, dining room tables, and/or armoires for the next week. These products go through two stages of production (assembly and finishing). The following table gives the time required for each item to go through these two stages, the amount of wood required, and the corresponding unit profits, along with the amount of each resource available next week. Rocking Chair (RC) Dining Room Table (DRT) Armoire (ARM) Available Assembly (minutes) 100 180 120 3,600 Finishing (minutes) 60 80 80 2,000 Wood (pounds) 30 180 120 4,000 Unit Profit $240 $720 $600 Formulate a complete linear programming model that would determine the production levels that would maximize profit. Make sure to identify the decision variables, objective function and constraints. Using Excel’s Solver: what is the optimal solution? In other words, how many of each piece of furniture should be produced and what is the overall profit? Which constraints are binding and what does that mean?
Colonial Furniture produces hand-crafted colonial style furniture. Plans are now being made for the production of rocking chairs, dining room tables, and/or armoires for the next week. These products go through two stages of production (assembly and finishing). The following table gives the time required for each item to go through these two stages, the amount of wood required, and the corresponding unit profits, along with the amount of each resource available next week. Rocking Chair (RC) Dining Room Table (DRT) Armoire (ARM) Available Assembly (minutes) 100 180 120 3,600 Finishing (minutes) 60 80 80 2,000 Wood (pounds) 30 180 120 4,000 Unit Profit $240 $720 $600 Formulate a complete linear programming model that would determine the production levels that would maximize profit. Make sure to identify the decision variables, objective function and constraints. Using Excel’s Solver: what is the optimal solution? In other words, how many of each piece of furniture should be produced and what is the overall profit? Which constraints are binding and what does that mean?
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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Colonial Furniture produces hand-crafted colonial style furniture. Plans are now being made for the production of rocking chairs, dining room tables, and/or armoires for the next week. These products go through two stages of production (assembly and finishing). The following table gives the time required for each item to go through these two stages, the amount of wood required, and the corresponding unit profits, along with the amount of each resource available next week.
|
|
Rocking Chair (RC) |
Dining Room Table (DRT) |
Armoire |
Available |
|
Assembly (minutes) |
100 |
180 |
120 |
3,600 |
|
Finishing (minutes) |
60 |
80 |
80 |
2,000 |
|
Wood (pounds) |
30 |
180 |
120 |
4,000 |
|
Unit Profit |
$240 |
$720 |
$600 |
|
- Formulate a complete linear programming model that would determine the production levels that would maximize profit. Make sure to identify the decision variables, objective function and constraints.
- Using Excel’s Solver: what is the optimal solution? In other words, how many of each piece of furniture should be produced and what is the overall profit?
- Which constraints are binding and what does that mean?
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