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i need the formulas please Exercise: A company manufactures and sells four types of frames for paintings. Each requires labor hours, metal, and glass. The
i need the formulas please
Exercise: A company manufactures and sells four types of frames for paintings. Each requires labor hours, metal, and glass. The unit costs of these resources are listed in rows 18-20, and the requirements per frame are listed in rows 24-26. Also, the availabilities of these resources are listed in column J, and the company is not allowed to use more of these resources than are available. The company then sells the frames at the prices listed in row 27. However, it will not produce more frames than it can sell, and these maximum sales quantities are listed in row 33. 1. The company must decide how many of each frame type to produce and sell). Enter any values of these decision variables in row 31 (or leave the current values there). You will eventually use Solver to find the optimal values. 2. Based on these values, calculate the amounts of the resources used in column H, and calculate the profit in cell B35. 3. Use Solver to find the production quantities that maximize profit, while satisfying the resource availability constraints and the maximum sales constraints. Make sure to make the changing cells nonnegative and use the Simplex LP method. 3 . 5 5 - Resource costs 3 Hourly wage rate Cost per oz of metal Cost per oz of glass $8.00 $0.50 $0.75 2 4 1 1 2 4 6 $28.50 3 3 1 1 $29.25 2 2 2 2 $12.50 2 $21.50 Requirements per frame of each type Frame type Labor hours per frame 5 Metal (oz.) per frame Glass (oz.) per frame Unit selling price 3 Production plan Frame type Frames produced - Maximum sales Resource constraints Used 1 250 2 500 3 3 200 4 500 Available 4000 6000 10000 Labor hours Metal (oz.) Glass (oz.)
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