The owner of a machine shop is planning to expand bypurchasing some new machines-presses and lathes. Theowner has estimated that each press purchased will increaseprofit by P5000 per day and each lathe will increase profit byP7500 daily. The number of machines the owner canpurchase is limited by the cost of the machines and theavailable floor space in the shop. The machine purchaseprices and space requirements are as follows:Required FloorSpace (m2).Purchase PricePress1.4P400,000Lathe2.8200,000The owner has a budget of P2,200,000 for purchasingmachines and 22 square meters of available floorspace. a. Formulate an integer programming model to determinehow many of each type of machine to purchase tomaximize the daily increase in profit.b. Solve the model formulated in part (a) without integerrequirements. What are the optimal solution for the press andthe lathe machines? What is the optimal profit?c. Round the press and lathe values found in part (b). Is thesolution feasible? Why?d. Truncate the press and lathe values found in part (b) (i.edrop the fractional part of each value). Is the solutionfeasible? Why?e. Add integer requirements to the model you constructed inpart (b). What is the optimal profit and what are the optimalnumber of press and lathe machines?

Note: - As we can answer up to three subparts we will answer the first three subparts(a, b, and c)…

Answered: The owner of a machine shop is planning…

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

Similar questions

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.
Estimate the cost of a 0.75 million gallon per day (MGD) induced-draft packed tower for air-stripping trihalomethanes from drinking water if the cost for a 2.9-MGD tower is $153,200. The exponent in the cost-capacity equation is 0.47. The cost of a 0.75 million gallon per day induced-draft packed tower is $
Davis Inc. produces three product lines in its manufacturing facility in St. John's, NL: Product Line (1), Product Line (2), Product Line (3). Davis is considering dropping Product Line (2) because it has been unprofitable for the past two years. Which of the following items is (are) irrelevant to Davis' decision to drop/keep Product Line (2)? O a) Total cost of rent on the manufacturing facility. O b) Customer demand for Product Line (2). Oc) Savings in direct materials cost associated with Product Line (2). O d) All of the above items are considered relevant in the decision.
A company produces three products A,B, and C. The products are processed through three machines as follows Product Annual demand Standard Time on m/c 1 Standard Time on m/c 2 Standard Time on m/c 3 A 600 5 -- 8 B 350 8 2 -- C 1000 1 12 10 If there are 250 working days per year and the company plans to work one seven hours shift per day, then compute the number of machines required.
A plant operation has fixed cost of $2,000,000 per year, and its output capacity is 100,000 electrical appliances per year. The variable cost is $70 per unit, and the product sells for $120 per unit. a) What is the annual break even volume of this product? b) Compare annual profit when the plant is operating at 90% capacity with the plant operation at 100% capacity. Assume that the first 90% of capacity output is sold at $120 per unit and that the remaining 10% of production is sold at $100 per unit. Show handwritten solutions
In year 1, if the aggregate demand of a bronze manufacturing operation is 450000 and the corresponding capacity is 150000 per machine (there are 3 machines in total with 2 operators per machine), what are the machine requirements and the corresponding labor requirements in year 1?
II. TALENT MANAGEMENTPlusCoop is a company that manages co-working space rentals, or popular known as co-working spaces. Established since 2014, PlusCoop offers rental services a workspace intended for freelancers, entrepreneurs, and business operators small medium. The space offered consists of 3 types:1. 4 units of communal workspace - large space, maximum capacity of 40 people, rental mechanism per day (24hours) and per person.2. 20 units of exclusive workspace - enclosed space, maximum capacity of 2 people per room, rental mechanismper month and per room.3. 4 units of conference room - large room, maximum capacity of 20 people, rental mechanism per day, withprojector and screen facilities. Armed with wi-fi facilities, whiteboard, free coffee-tea station, and a strategic location in the city center, During 4 years of operation, PlusCoop has succeeded in becoming a very popular co-working space by their target consumers. However, the pandemic that hit Indonesia in 2019 resulted in…
Prepare a master schedule based on the following information: Week 1 2 3 4 8. Forecast500 500 600 600 750750900800 Orders 540470325 200105 45 10 1. Currently there are 700 units in inventory. Policy calls for a fixed order quantity of 1250 units. 2. Can you receive another order for 250 items in week 1? Why? 3. How many orders can be received in each period without altering the plan. 4. If there are 1250 items in stock, what would be the answer of questions 2 and 3?
The Ace Manufacturing Company has orders for three similar products. Product Min A s.t. B C 1 2 Machine 3 Three machines are available for the manufacturing operations. All three machines can produce all the products at the same production rate. However, due to varying defect percentages of each product on each machine, the unit costs of the products vary depending on the machine used. Machine capacities for the next week and the unit costs are shown below. A A LB B Ic C Product 4 2 3 Orders (units) Machine 1 Capacity Product A Orders Machine 2 Capacity Product B Orders Machine 3 Capacity Product C Orders 1,800 X20 for all i, j. 700 1,100 Capacity (units) 1,400 (a) Develop the linear programming formulation of this problem. (Let x₁ be the number of units of product A produced by XA1 machine 1, x,, be the number of units of product i produced by machine j, etc.) 1,500 1,000 1 Machine $1.00 $1.30 $1.10 2 $1.20 $1.40 $1.00 $0.90 $1.20 $1.20 3 (b) Solve the transportation model for the…
Cox Electric makes electronic components and has estimated the following for a new design of one of its products. Fixed cost = $23,750 Material cost per unit = $0.17 • Labor cost per unit = $0.12 • Revenue per unit = $0.67 Note that fixed cost is incurred regardless of the amount produced. Per-unit material and labor cost together make up the variable cost per unit. Assuming that Cox Electric sells all that it produces, profit is calculated by subtracting the fixed cost and total variable cost from total revenue. Construct an appropriate spreadsheet model to find the profit based on a given production level and use the spreadsheet model to answer these questions. (a) Construct a one-way data table with production volume as the column input and profit as the output. Breakeven occurs when profit goes from a negative to a positive value; that is, breakeven is when total revenue = the total cost, yielding a profit of zero. Vary production volume from 0 to 100,000 in increments of 10,000.…
1
A city would like to know how many vehicles it could move through its streets in an emergency. The most likely situation is an evacuation starting at the school and ending at the park. The connections between these two locations, plus their capacity and direction, is shown below. School B Path Capacity Oak Street Elm Street A 10 с E B C 20 15 1 Street D 30 2nd Street E 25 F F 20 Park G 15

SEE MORE QUESTIONS

Recommended textbooks for you

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Business in Action

Operations Management

ISBN:

9780135198100

Author:

BOVEE

Publisher:

PEARSON CO

Purchasing and Supply Chain Management

Operations Management

ISBN:

9781285869681

Author:

Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:

Cengage Learning

Production and Operations Analysis, Seventh Editi…

Operations Management

ISBN:

9781478623069

Author:

Steven Nahmias, Tava Lennon Olsen

Publisher:

Waveland Press, Inc.

SEE MORE TEXTBOOKS