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4- (4 Marks) You have to provide the Excel solution to the following problem and upload it on Moodle along with your midterm Ms
4- (4 Marks) You have to provide the Excel solution to the following problem and upload it on Moodle along with your midterm Ms Word file. Par Inc., is a small manufacturer of golf equipment and supplies whose management has decided to move into the market for medium- and high-priced golf bags. Par's distributor is enthusiastic about the new product line and has agreed to buy all the golf bags Par produces over the next three months. After a thorough investigation of the steps involved in manufacturing a golf bag, management determined that each golf bag produced will require: Cutting and dyeing the material, sewing, Finishing (inserting umbrella holder, club separators, etc.), Inspection and packaging. The director of manufacturing analyzed each of the operations and concluded that if the company produces a medium-priced standard model, each bag will require 7/10 hour in the cutting and dyeing department, 1/2 hour in the sewing department, 1 hour in the finishing department, and 10 hour in the inspection and packaging department. The more expensive deluxe model will require 1 hour for cutting and dyeing, 5/6 hour for sewing, 2/3 hour for finishing, and 1/4 hour for inspection and packaging. Par's production is constrained by a limited number of hours available in each department. After studying departmental workload projections, the director of manufacturing estimates that 630 hours for cutting and dyeing, 600 hours for sewing, 708 hours for finishing, and 135 hours for inspection and packaging will be available for the production of golf bags during the next three months. The accounting department analyzed the production data, assigned all relevant variable costs, and arrived at prices for both bags that will result in a profit contribution of Rs 10 for every standard bag and Rs 9 for every deluxe bag produced. The LP Model for the problem is provided below. Max 10S9D subject to (s.t.) 10S1D630 Cutting and dyeing 12S+%D600 Sewing 1S+%D708 Finishing 10S D135 Inspection and packaging S, D0 You are supposed to provide the Excel solution for the above formulation.
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