Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Find the optimal solution using Excel A gear manufacturer is planning next weeks produc- tion run for four types of gears. If necessary, it is

  1. Find the optimal solution using Excel
  2. A gear manufacturer is planning next weeks produc- tion run for four types of gears. If necessary, it is pos- sible to outsource any type of gear from another gear company located nearby. The following table and the table at the bottom of this page show next weeks demand, revenue per unit, outsource cost per unit, time (in hours) required per unit in each production process, and the availability and costs of these pro- cesses. The nearby company can supply a maximum of 300 units of each type of gear next week. What should be the production and/or outsource plan for the next week to maximize profit?
  3. image text in transcribed

GEAR TYPE GEAR A GEAR B GEAR C GEAR D Demand 400 500 450 600 Revenue $12.50 $15.60 $17.40 $19.30 Outsource $7.10 $8.10 $8.40 $9.00 GEAR TYPE GEAR A GEAR B GEAR C GEAR D Demand 400 500 450 600 Revenue $12.50 $15.60 $17.40 $19.30 Outsource $7.10 $8.10 $8.40 $9.00

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

Accounting For Non-Accounting Students

Authors: John R. Dyson, Ellie Franklin

9th Edition

978-1292128979, 1292128976

More Books

Students also viewed these Accounting questions

Question

16.7 Describe the three steps in the collective bargaining process.

Answered: 1 week ago