rouq.eletter/Desktop/quantitative/Book/Render_ph18_QuantAnalMgt13GE-WM%20(1).pdf V Draw CHAIRS (C) + 6 Page view A Read aloud TABLES DEPARTMENT (7) Carpentry 4 Painting and varnishing 2 Profit per unit $70 Highlight Erase AVAILABLE HOURS THIS WEEK 240 100 3 $50 Flair Furniture Company The Flair Furniture Company produces inexpensive tables and chairs. The production process for each is similar in that both require a certain number of hours of carpentry work and a certain number of labor hours in the painting and varnishing department. Each table takes 4 hours of carpentry and 2 hours in the painting and varnishing shop. Each chair requires 3 hours in car- pentry and 1 hour in painting and varnishing. During the current production period, 240 hours of carpentry time are available, and 100 hours in painting and varnishing time are available. Each table sold yields a profit of $70; each chair produced is sold for a $50 profit. Flair Furniture's problem is to determine the best possible combination of tables and chairs to manufacture in order to reach the maximum profit. The firm would like this production mix situation formulated as an LP problem. We begin by summarizing the information needed to formulate and solve this problem (see Table 7.2). This helps us understand the problem being faced. Next, we identify the objective and the constraints. The objective is Maximize profit The constraints are