Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Efe, Aylin, and Zeynep are the partners and workers in a company which produces fine clocks. Efe is available to work a maximum of 2400

image text in transcribed

Efe, Aylin, and Zeynep are the partners and workers in a company which produces fine clocks. Efe is available to work a maximum of 2400 minutes per week at the company, while Aylin and Zeynep are available to work a maximum of 1800 and 1500 minutes per week, respectively. The company produces three different types of clocks: a grandfather clock, a wall clock, and a desk clock. To make a clock, Efe (a mechanical engineer) assembles the inside mechanical parts of the clock while Aylin (a woodworker) produces the handcarved wood casings. Zeynep is responsible for taking orders and shipping the clocks. A grandfather clock requires 60 minutes of assembly, 80 minutes of carving, and 30 minutes of shipping time. The corresponding values for a wall clock are 40, 40, and 20; while those for a desk clock are 40, 20, and 10. The maximum potential sales per week for each product is estimated to be as follows: 10 grandfather clocks, 20 wall clocks, and 30 desk clocks. Each grandfather clock built and shipped yields a profit of $240, while each wall and desk clock yields a profit of $180 and $150, respectively. In addition, having the largest amount of share in the partnership, Efe's working hours at the company has to be at least 75% of Aylin and Zeynep's total working hours. A. Formulate a linear programming model to determine how many clocks of each type should be produced per week to maximize the total profit. Define the decision variables, write the objective function and the constraints, and provide a short expression for each constraint to best describe it. Do not solve. B. Consider the following solution: the number of grandfather clocks produced = 5, the number of wall clocks produced = 20, and the number of desk clocks produced = 30. Find out if this solution is feasible using your formulation. If yes, determine the amounts of unused resources. C. Zeynep decides to drive for Uber to make extra money when she finds time from her job at the company at a profit of $0.28/minute. Considering the solution given in the second part, determine how much profit per week she would make as an Uber driver

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

College Accounting A Practical Approach

Authors: Jeffrey Slater, Debra Good

14th Canadian Edition

0135222419, 978-0135222416

More Books

Students also viewed these Accounting questions

Question

Provide an example of utilizing the research navigation guide

Answered: 1 week ago