SmithSmith Products Ltd produces two products, in a process which is partly automated. It is restricted to 400 labour hours and 600 machine hours in the coming week.Information on each product is as follows:Per unitAB ££Selling price5060Labour (£10 per hour)2030Material used812Other variable costs1714Fixed costs31 Machine time taken4 hours2 hours Required:Derive the objective functionSet out the constraints in a mathematical formatSketch a graph representing the problem; identify the feasible region and the optimal solution before solving algebraically for the optimal production plan.

Answered: Image /qna-images/answer/8db9f745-183d-4852-bcda-394285087183.jpg

Answered: Smith Smith Products Ltd produces two…

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...

See similar textbooks

Related questions

Question

Smith

Smith Products Ltd produces two products, in a process which is partly automated. It is restricted to 400 labour hours and 600 machine hours in the coming week.

Information on each product is as follows:

Per unit	A	B
	£	£
Selling price	50	60
Labour (£10 per hour)	20	30
Material used	8	12
Other variable costs	17	14
Fixed costs	3	1

Machine time taken	4 hours	2 hours

Required:

Derive the objective function

Set out the constraints in a mathematical format

Sketch a graph representing the problem; identify the feasible region and the optimal solution before solving algebraically for the optimal production plan.

Expert Solution