Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

For each of the problems provide the formulated optimization model and its optimal solution and value. 2 . 1 CT Furniture Company makes wooden picnic

For each of the problems provide the formulated optimization model and its optimal solution and value.
2.1 CT Furniture Company makes wooden picnic tables and chairs to sell to various stores. These stores request both finished and unfinished furniture. To make this furniture, CT must purchase the wood by the board foot. It takes 25 board feet to make one table and 10 board feet to make one chair. Each board foot must be purchased for $2, and up to 10,000 board feet can be purchased. It takes 4 hours to make an unfinished table and 2 hours to make an unfinished chair. To finish an unfinished table (by priming, sealing, and painting it), it takes an additional 8 hours, while it takes 6 hours to finish an unfinished chair. A total of 2500 hours are available, which can be proportioned as necessary. We can assume that all pieces of furniture produced can be sold at the following prices: $80 for unfinished table, $120 for finished table, $30 for unfinished chair, and $55 for finished chair. In addition, due to typical demand, we know that, for every table produced, at least 2 chairs must be produced. If we have special orders that must be filled, calling for at least 200 tables and 450 chairs to be sold, determine how much of each type of furniture to produce
image text in transcribed

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

Supply Chain Analytics Concepts, Techniques And Applications

Authors: Kurt Y Liu

1st Edition

3030922235, 978-3030922238

More Books

Students also viewed these General Management questions

Question

Highest peak as well as active volcano of North America?

Answered: 1 week ago

Question

Which is the largest fresh water leak in the world?

Answered: 1 week ago

Question

Which north american country known as the sugar bowl of the world?

Answered: 1 week ago

Question

South America is the continent located in which hemisphere?

Answered: 1 week ago