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Your answer will be the revenue generated by your production plan - rounded to the nearest whole dollar. (The number of pieces of furniture built must each be whole numbers.) Use Scenario 2

Your answer will be the revenue generated by your production plan - rounded to the nearest whole dollar. (The number of pieces of furniture built must each be whole numbers.) Use Scenario 2

Practical Management Science
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...
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Your furniture company makes Tables, Arm Chairs, and Armless Chairs. Below, you are given the starting inventory, selling price, and Bill of Materials (recipe, or construction requirements). You are to determine the number of Tables, Arm Chair, and Armless Chairs to be built to maximize revenue. You must make 4 armless chairs for every table. Your answer will be the revenue generated by your production plan - rounded to the nearest whole dollar. (The number of pieces of furniture built must each be whole numbers.) Use Scenario 2 Large wood per Table Small wood per Table Large wood per Arm Chair Small wood per Arm Chair Large wood per Armless Chair Small wood per Armless Chair Revenue per Table Revenue per Arm Chair Revenue per Armless Chair Large wood inventory Small wood inventory Scenario 1 3 2 1 4 3 1 $35 $29 $25 995 888 Scenario 2 4 2 2 4 4 1 $42 $29 $28 505 704 Scenario 3 2 2 3 3 2 3 $88 $45 $39 1,305 881
Transcribed Image Text:Your furniture company makes Tables, Arm Chairs, and Armless Chairs. Below, you are given the starting inventory, selling price, and Bill of Materials (recipe, or construction requirements). You are to determine the number of Tables, Arm Chair, and Armless Chairs to be built to maximize revenue. You must make 4 armless chairs for every table. Your answer will be the revenue generated by your production plan - rounded to the nearest whole dollar. (The number of pieces of furniture built must each be whole numbers.) Use Scenario 2 Large wood per Table Small wood per Table Large wood per Arm Chair Small wood per Arm Chair Large wood per Armless Chair Small wood per Armless Chair Revenue per Table Revenue per Arm Chair Revenue per Armless Chair Large wood inventory Small wood inventory Scenario 1 3 2 1 4 3 1 $35 $29 $25 995 888 Scenario 2 4 2 2 4 4 1 $42 $29 $28 505 704 Scenario 3 2 2 3 3 2 3 $88 $45 $39 1,305 881
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Step 1 Introduction:-

Linear programming is a mathematical technique that is also used in operations management departments. This technique is commonly used to find the best outcome with the maximum profit. Linear programming has various methods; each method is chosen by the companies as per their requirements or based on different factors.

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