Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A shoe producer is preparing the production schedule for two types of shoes, hiking boots and tennis shoes. To plan the production, he must use

A shoe producer is preparing the production schedule for two types of shoes, hiking boots and tennis shoes. To plan the production, he must use the following production time information:

Machine A

Machine B

Sewing

Hiking Boots

2 hours

1 hour

2 hours

Tennis shoes

1 hour

2 hours

1 hour

That is, the production of each pair of hiking boots requires 2 hours on machine A, 1 hour on machine B and 2 hours in the sewing process. The available employee hours per week are as follows: for machine A, 60 hours; for machine B, 60 hours; for sewing, 80 hours. The producer obtains a revenue of $20 for each pair of hiking boots and $15 for each pair of tennis shoes produced.

  1. How many of each type of shoes should be produced per week in order to maximize revenue? Write down the optimization problem that the producer has to solve and present your answer algebraically and graphically.
  2. What is the maximum revenue obtained?

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

Advanced Accounting

Authors: Debra C. Jeter, Paul Chaney

5th Edition

1118022297, 9781118214169, 9781118022290, 1118214161, 978-1118098615

Students also viewed these Accounting questions