XYZ manufactures tables and chairs. A table requires 40 kg of wood and a chair requires 30 kg of wood. Wood may be purchased at a cost of 1 TL/kg and 40,000 kg of wood are available for purchase. It takes 2 hours ofskilled labour to manufacture an unfinished table or an unfinished chair. Three more hours of skilled labour will turn an unfinished table into a finished table, and 2 more hours of skilled labour will turn an unfinished chairinto a finished chair. A total of 6000 hours of skilled labour are available (and have already been paid for). All furniture produced can be sold at the following unit prices: unfinished table: 70 TL; finished table: 140 TL;unfinished chair: 60 TL; finished chair: 110 TL. Formulate an LP that will maximize the contribution to profit from manufacturing tables and chairs.

The objective of the question is to formulate a Linear Programming problem that will maximize the…

Answered: XYZ manufactures tables and chairs. A…

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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2
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