Question
A furniture manufacturer produces table and chairs made of either oak or pine. That is, there are four products, oak chair, oak table, pine chair,
A furniture manufacturer produces table and chairs made of either oak or pine. That is, there are four products, oak chair, oak table, pine chair, and pine table. Currently there is limited oak and wood available as raw material but there is almost unlimited demand (the owner is confident that she can sell as many chairs and tables as she can produce). Thus, her objective is to maximize her total revenue given the available raw material. You are given the following data:
Prices, Usage of Oak, Usage of Pine | |||
Available | Table | Chair | |
Oak | 15000 | $800, 17,0 | $350, 5, 0 |
Pine | 21000 | $500, 0, 30 | $250, 0, 13 |
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a) Prepare the model following the formatting guidelines used in the class.
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b) Give names to ranges so that your solver model is easy to read and then after
solving the model just keep the optimal solver solution.
It is needed to be done on the below excel sheet.
Manufacturing tables and chairs Oak tables $800 Pine tables $500 Oak chairs $350 Pine chairs $250 Unit selling price Usage of wood Oak tables Pine tables Oak chairs Pine chairs Used 17 0 5 0 Oak Pine Available 15000 21000 0 30 0 13 Produced 0 0 0 0 Total revenue Manufacturing tables and chairs Oak tables $800 Pine tables $500 Oak chairs $350 Pine chairs $250 Unit selling price Usage of wood Oak tables Pine tables Oak chairs Pine chairs Used 17 0 5 0 Oak Pine Available 15000 21000 0 30 0 13 Produced 0 0 0 0 Total revenueStep by Step Solution
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