Style of chair Standard Deluxe The Decision Variables are defined as: The Cutting Department costs $15 per hour of processing; the Sanding Department costs $12 per hour of processing; and, the Finishing Department costs $18 per hour of processing. The number of production hours available each week in each department is 3,100 in Cutting, 1,400 in Sanding, and 1,800 in Finishing. Destiny Kitchens has a contract with a furniture store chain to supply them with 600 Standard and 400 Deluxe chairs each week. Destiny wants to produce the number of Standard chairs and the number of Deluxe chairs to maximize weekly profits. a. b. Cutting Dept 2.0 hours per chair 2.5 hours per chair x = the # of Standard chairs to produce each week. y = the # of Deluxe chairs to produce each week. C. d. e. f. Sanding Dept 1.0 hours per chair 1.5 hours per chair g. Finishing Dept 1.2 hours per chair 1.5 hours per chair Develop an expression to show Total Revenues. Develop an expression to show Total Costs (ignore Fixed Costs). Develop an expression to show Total Profits (ignore Fixed Costs). State the Objective Function to maximize Total Profits (ignore Fixed Costs). Why can we ignore Fixed Costs in parts b, c, and d? buborg: 31 Develop an expression for each Department showing its constraint on hours available. (Hint: Set up each constraint as: # hours used <= # hours available.) There will be 3 separate constraints; one for each Department. Develop an expression for the constraint on the contract with the furniture store chain. (Hint: Set up each constraint as: # units produced >= # of units required.) There will be 2 separate constraints; one for each product. Destiny Kitchens manufactures and sells two types of kitchen chairs: Standard and Deluxe. Standard chairs sell for $85 each; Deluxe chairs sell for $110 each. Both types of chairs go through three production departments: Cutting, Sanding, and Finishing. The table below shows how much time each product must spend in each production department.
Style of chair Standard Deluxe The Decision Variables are defined as: The Cutting Department costs $15 per hour of processing; the Sanding Department costs $12 per hour of processing; and, the Finishing Department costs $18 per hour of processing. The number of production hours available each week in each department is 3,100 in Cutting, 1,400 in Sanding, and 1,800 in Finishing. Destiny Kitchens has a contract with a furniture store chain to supply them with 600 Standard and 400 Deluxe chairs each week. Destiny wants to produce the number of Standard chairs and the number of Deluxe chairs to maximize weekly profits. a. b. Cutting Dept 2.0 hours per chair 2.5 hours per chair x = the # of Standard chairs to produce each week. y = the # of Deluxe chairs to produce each week. C. d. e. f. Sanding Dept 1.0 hours per chair 1.5 hours per chair g. Finishing Dept 1.2 hours per chair 1.5 hours per chair Develop an expression to show Total Revenues. Develop an expression to show Total Costs (ignore Fixed Costs). Develop an expression to show Total Profits (ignore Fixed Costs). State the Objective Function to maximize Total Profits (ignore Fixed Costs). Why can we ignore Fixed Costs in parts b, c, and d? buborg: 31 Develop an expression for each Department showing its constraint on hours available. (Hint: Set up each constraint as: # hours used <= # hours available.) There will be 3 separate constraints; one for each Department. Develop an expression for the constraint on the contract with the furniture store chain. (Hint: Set up each constraint as: # units produced >= # of units required.) There will be 2 separate constraints; one for each product. Destiny Kitchens manufactures and sells two types of kitchen chairs: Standard and Deluxe. Standard chairs sell for $85 each; Deluxe chairs sell for $110 each. Both types of chairs go through three production departments: Cutting, Sanding, and Finishing. The table below shows how much time each product must spend in each production department.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
Transcribed Image Text:Style of chair
Standard
Deluxe
The Decision Variables are defined as:
The Cutting Department costs $15 per hour of processing; the Sanding Department costs $12 per
hour of processing; and, the Finishing Department costs $18 per hour of processing.
The number of production hours available each week in each department is 3,100 in Cutting,
1,400 in Sanding, and 1,800 in Finishing. Destiny Kitchens has a contract with a furniture store
chain to supply them with 600 Standard and 400 Deluxe chairs each week. Destiny wants to
produce the number of Standard chairs and the number of Deluxe chairs to maximize weekly
profits.
a.
b.
Cutting Dept
2.0 hours per chair
2.5 hours per chair
x = the # of Standard chairs to produce each week.
y = the # of Deluxe chairs to produce each week.
C.
d.
e.
f.
Sanding Dept
1.0 hours per chair
1.5 hours per chair
g.
Finishing Dept
1.2 hours per chair
1.5 hours per chair
Develop an expression to show Total Revenues.
Develop an expression to show Total Costs (ignore Fixed Costs).
Develop an expression to show Total Profits (ignore Fixed Costs).
State the Objective Function to maximize Total Profits (ignore Fixed Costs).
Why can we ignore Fixed Costs in parts b, c, and d?
buborg: 31
Develop an expression for each Department showing its constraint on hours
available. (Hint: Set up each constraint as: # hours used <= # hours available.)
There will be 3 separate constraints; one for each Department.
Develop an expression for the constraint on the contract with the furniture store
chain. (Hint: Set up each constraint as: # units produced >= # of units required.)
There will be 2 separate constraints; one for each product.
Transcribed Image Text:Destiny Kitchens manufactures and sells two types of kitchen chairs: Standard and
Deluxe. Standard chairs sell for $85 each; Deluxe chairs sell for $110 each. Both types
of chairs go through three production departments: Cutting, Sanding, and Finishing. The
table below shows how much time each product must spend in each production
department.
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