Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A company makes a variety of knoves. Each knife is processes on four machines. The processing tims are given in the tabe below. The machine

image text in transcribed
A company makes a variety of knoves. Each knife is processes on four machines. The processing tims are given in the tabe below. The machine capacities (in hours) are 1500 for machine 1, 1400 for machine 2, 1600 for machine 3 and 1500 for machine 4 . \begin{tabular}{|l|l|l|l|} \hline \\ \hline & & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} Each product conatins a different amount of two basic raw materilas. Raw material 1 costs $0.5 per ounce, and raw material 2 costs $1.50 per ounce. There are 75,000 ounces of raw material 1 and 100,000 ounces of raw material 2 available. he objective is to maximize profit. Using Solver detemine the the optimal number of each knife to be manufactured. Jint: Calculate the profit on each knife by deducting the appropriate material costs from the selling price

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Karen W. Braun, Wendy M. Tietz

5th edition

134128524, 978-0134128528

More Books

Students also viewed these Accounting questions

Question

How does communitarianism differ from liberalism?

Answered: 1 week ago

Question

=+ Who is ultimately responsible for approving the budget?

Answered: 1 week ago