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Production Each product goes through 3 manufacturing phases, casting, milling and polishing. There are 60 hours available in casting and polishing and 40 hours in
Production Each product goes through 3 manufacturing phases, casting, milling and polishing. There are 60 hours available in casting and polishing and 40 hours in milling for next week. The processing time for each product in each phase in minutes is listed in the table below P6 P225P238 P239 19 Castin Millin Polishing 14 13 6 14 7 12 13 Accounting: Accounting has identified that the profit per unit for each product is in the table below P6 P225 P238 39 Profit per Unit S7.00 $6.00 $9.00 $6.00 Marketin Marketing has developed a contract for 100 of product p225 for next week anagemen Management would like you to formulate the product and solve it using Excel Solver then forward your recommendations to them. Additionally, management would like your input on the following questions 1) How many of each product should be produced and what is the expected profit? 2) If you could obtain an additional 10 hours in any department which one would you choose and what would be the impact on profit? 3) What would be the impact of increasing the contract for product p225 from 100 units to 110 units? 4) Competitive pressures may require the reduction in selling cost of product p238 such that the profit is reduced to $7.00. What if any impact would this change have on the product mix and total profit? Production Each product goes through 3 manufacturing phases, casting, milling and polishing. There are 60 hours available in casting and polishing and 40 hours in milling for next week. The processing time for each product in each phase in minutes is listed in the table below P6 P225P238 P239 19 Castin Millin Polishing 14 13 6 14 7 12 13 Accounting: Accounting has identified that the profit per unit for each product is in the table below P6 P225 P238 39 Profit per Unit S7.00 $6.00 $9.00 $6.00 Marketin Marketing has developed a contract for 100 of product p225 for next week anagemen Management would like you to formulate the product and solve it using Excel Solver then forward your recommendations to them. Additionally, management would like your input on the following questions 1) How many of each product should be produced and what is the expected profit? 2) If you could obtain an additional 10 hours in any department which one would you choose and what would be the impact on profit? 3) What would be the impact of increasing the contract for product p225 from 100 units to 110 units? 4) Competitive pressures may require the reduction in selling cost of product p238 such that the profit is reduced to $7.00. What if any impact would this change have on the product mix and total profit
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