A furniture company manufactures desks and chairs. Each desk uses four units of wood, and each chair uses three units of wood. A desk contributes $250 to profit, and a chair contributes $145. Marketing restrictions require that the number of chairs produced be at least four times the number of desks produced. There are 2000 units of wood available. a. Use Solver to maximize the company’s profit. b. Confirm graphically that the solution in part a maximizes the company’s profit. c. Use SolverTable to see what happens to the decision variables and the total profit when the availability of wood varies from 1000 to 3000 in 100-unit increments. Based on your findings, how much would the company be willing to pay for each extra unit of wood over its current 2000 units? I got through part a and need help on the last 2 parts. Please use the attached template. A B C ·VInsert Draw Page LayoutFormulasCalibri11AΑ Α΄VBI U ✓ ✓ ✓ Av822X VfxABCD1 Manufacturing desks and chairs23 Inputs4Unit marginsWood usage per unitDecisions910 Units produced1112 Constraint on wood13141516 Constraint on chairs17181920 Objective to maximize21 Profit22 # of desks produced is 12523 # of chairs produced is 50024 Profit is $103,75025OHome5Paste5678lamu2627282852930313233343536373829ReadyDesks$2504Desks125Wood used2000Chairs producedAnswer Report 1-40 »$103,750Chairs$1453Chairs500Wood available2000Chairs required10Answer Report 2Sensitivity Report 1MAY26Data Review View= =三三三班班EFTHETell meab Wrap Text vSensitivity Report 2Module 2 Problem WorkbookGeneral$ % 9 500 000VJKLMerge & Center vGHall NP3-261p3-34+A TMAConditional FormatFormatting as TableMNR XWCellStyles0

a) Optimal Solution: No. of units of Desks produced = 125 No. of units of Chairs produced =…

Answered: A furniture company manufactures desks…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A furniture company manufactures desks and chairs. Each desk uses four units of wood, and each chair uses three units of wood. A desk contributes $250 to profit, and a chair contributes $145. Marketing restrictions require that the number of chairs produced be at least four times the number of desks produced. There are 2000 units of wood available. a. Use Solver to maximize the company’s profit. b. Confirm graphically that the solution in part a maximizes the company’s profit. c. Use SolverTable to see what happens to the decision variables and the total profit when the availability of wood varies from 1000 to 3000 in 100-unit increments. Based on your findings, how much would the company be willing to pay for each extra unit of wood over its current 2000 units?

I got through part a and need help on the last 2 parts. Please use the attached template.

A B C ·
V
Insert Draw Page Layout
Formulas
Calibri
11
A
Α Α΄
V
BI U ✓ ✓ ✓ Av
822
X V
fx
A
B
C
D
1 Manufacturing desks and chairs
2
3 Inputs
4
Unit margins
Wood usage per unit
Decisions
9
10 Units produced
11
12 Constraint on wood
13
14
15
16 Constraint on chairs
17
18
19
20 Objective to maximize
21 Profit
22 # of desks produced is 125
23 # of chairs produced is 500
24 Profit is $103,750
25
O
Home
5
Paste
5
6
7
8
lamu
26
27
28
285
29
30
31
32
33
34
35
36
37
38
29
Ready
Desks
$250
4
Desks
125
Wood used
2000
Chairs produced
Answer Report 1
-4
0 »
$103,750
Chairs
$145
3
Chairs
500
Wood available
2000
Chairs required
1
0
Answer Report 2
Sensitivity Report 1
MAY
26
Data Review View
= =
三三三班班
E
F
THE
Tell me
ab Wrap Text v
Sensitivity Report 2
Module 2 Problem Workbook
General
$ % 9 500 000
V
J
K
L
Merge & Center v
G
H
all N
P3-26
1
p3-34
+
A T
MA
Conditional Format
Formatting as Table
M
N
R X
W
Cell
Styles
0

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