Question
Ed owns a small business called Kingston Anchors, which produces four types of anchor for pleasure craft: Danforth: a lightweight, temporary anchor; Small Plow: an
Ed owns a small business called Kingston Anchors, which produces four types of anchor for pleasure craft:
Danforth: a lightweight, temporary anchor;
Small Plow: an all purpose anchor for boats less than 24';
Large Plow: same thing for boats longer than 24';
Hereshoff: a fancy, show-off anchor for larger boats.
Each anchor requires metal to be cut, ground, tumbled and finally welded and assembled.Because of earlier foresight, Ed has stockpiled plenty of raw material in the form of steel bars, sheets, and tubes.The production data for each anchor of each type in the next cycle is as follows:
Cutting
Grinding
Tumbling
Weld/Assy
Maximum
Contribution
Anchor Type
Time
Time
Time
Time
Demand
to Profit
Danforth
5 min.
8 min.
2 min.
4 min.
800
$50
Small plow
10"
20"
5"
6"
300
110
Large Plow
15"
20"
7.5 "
8"
200
130
Herreshoff
30"
20"
10"
10"
100
200
Hours Available
120
240
100
80
Ed needs to know how many of each type of anchor he should plan to produce in order to maximize his contribution to profit. We will define D, SP, LP and H to be the number of Danforths, small plows, large plows and Herreshoffs that Ed decides to produce. Converting all the production times tominutes, the complete formulation will be as follows:
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