1. California Products Company (CPC) has the capability of producing and selling three products. Each product has an annual demand potential (at current pricing and promotion levels), a variable contribution, and an annual fixed cost. The fixed cost can be avoided if the product is not produced at all. This information is summarized below. Product Demand Contribution Fixed Cost I 240,000 $ 1.20 $ 60,000 160.000 $ 1.80 $ 200,000 K 80,000 $ 2.30 $ 110,000 Each product requires work on three machines. The standard productivityes and capacities are given below. Machine Hours per 1000 units Hours Product I Product J Product K Available A 3.205 3.846 7.692 1750 B 2.747 7.808 6.410 1750 C 1.923 3.205 9.615 1750 CPC wishes to plan its activity to maximize profits for the year. They would like to determine which products should be produced, how much of each should be produced, as well as the maximum profit contribution from these operations. (a) Write down the algebraic mixed integer linear programming (MILP) formulation of this problem. Note: Define your decision variables clearly before writing down the formulation. (b) Use Excel Solver to solve your MILP (see page 5 of the Course Outline for spreadsheet homework instructions)