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show me with excel and briefly explain the steps for excel Problem 1 (Great Threads) The Great Threads Company is capable of manufacturing shirts, shorts,
show me with excel and briefly explain the steps for excel
Problem 1 (Great Threads) The Great Threads Company is capable of manufacturing shirts, shorts, pants, skirts, and jackets. Each type of clothing requires that Great Threads have the appropriate type of machinery available. The machinery needed to manufacture each type of clothing must be rented at the weekly rates shown in the table below. This table also lists the amounts of cloth and labor required per unit of clothing, as well as the selling price and the unit variable cost for each type of clothing. In each week, 4500 labor hours and 4000 square yards (sq yd) of cloth are available. The company wants to find a solution that maximizes its weekly profit. (a) Use Excel Solver to find the optimal production plan that suggests which clothing types to produce and the weekly production quantity. What is the profit? (b) Suppose the selling prices given in the above table only represent the baseline scenario. There are two additional scenarios, and the selling prices in each scenario are listed below. Resolve the problem with Excel Solver again. What should be the production plan in Additional Scenario I? What should be the production plan in Additional Scenario II? What are the profit respectivelyStep by Step Solution
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