Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A company manufactures two products on two machines. The number of hours of machine time and labor depends on the machine and product as shown

image text in transcribed
image text in transcribed
A company manufactures two products on two machines. The number of hours of machine time and labor depends on the machine and product as shown in the file P13_43.xisx. The cost of producing a unit of each product depends on which machine produces it. These unit costs also appear in the same file. There are 200 hours available on each of the two machines, and there are 400 labor hours avalable total. Thes month at least 200 units of product 1 and at least 240 units of product 2 must be produced. Also, at least half of the product 1 requirement must be produced on machine 1 , and at least half of the product 2 requirement must be produced on machine 2 . a. Determine how the company can minimize the cost of meeting this month's requirements. If needed, round your answers in the table to one decimal place and the total cost to two decimal places, if necessary. Total cost: b. Chatige both of the "at least half" product requirements on each machine to 0\%. How much aro those requirements costing the company? if riesded, round your answer to two decamal places, if necessary, If your answer is zero, enter " 0 ". \begin{tabular}{|l|r|r|r|r|} \hline & \multicolumn{2}{|c}{ Product 1 } & \multicolumn{2}{c|}{ Product 2 } \\ \hline & Machine 1 & Machine 2 & Machine 1 & Machine 2 \\ \hline Machine time & 0.80 & 0.70 & 0.75 & 0.90 \\ \hline Labor & 0.75 & 1.00 & 1.20 & 0.75 \\ \hline Unit costs & $1.50 & $2.20 & $0.40 & $4.00 \end{tabular}

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

Sustainable Finance And Banking

Authors: Marcel Jeucken

1st Edition

1853837660, 978-1853837661

More Books

Students also viewed these Finance questions

Question

18. In Prob. 16, find the angle between t and fil.

Answered: 1 week ago