The profit function for two products Profit, 43x, - , *x + 700, where represents units of production of product 1 and represents units of production of product 2 Producing one unit of product 1 requires labor-hours and producing one unit of product 2 requires 6 labor-hours. Currently, 24 labor hours are available. The cost of labor-hours is already factored into the profit function. However, it is possible to schedule overtime premium of $5 per hour (a) Formulate an optimization problem that can be used to find the optimal production quantity of product and the optimal number of overtime hours to schedule. (Let OT be the number of overtime hours scheduled.) MEX -84, +42t, - 343 +44x, + 700 - 50T 4 + 6x2 524 + OT ** OT 20 (b) solve the optimization model you formulated in part (a). How much should be produced and how many overtime hours should be scheduled? What is the profit in dotar? [Round your answers to three decimal places.) Units of product Units of product 2 x Overtime hours OT-8057 X Profit 81663 X 667 22.067 P The profit function for two products Profit, 43x, - , *x + 700, where represents units of production of product 1 and represents units of production of product 2 Producing one unit of product 1 requires labor-hours and producing one unit of product 2 requires 6 labor-hours. Currently, 24 labor hours are available. The cost of labor-hours is already factored into the profit function. However, it is possible to schedule overtime premium of $5 per hour (a) Formulate an optimization problem that can be used to find the optimal production quantity of product and the optimal number of overtime hours to schedule. (Let OT be the number of overtime hours scheduled.) MEX -84, +42t, - 343 +44x, + 700 - 50T 4 + 6x2 524 + OT ** OT 20 (b) solve the optimization model you formulated in part (a). How much should be produced and how many overtime hours should be scheduled? What is the profit in dotar? [Round your answers to three decimal places.) Units of product Units of product 2 x Overtime hours OT-8057 X Profit 81663 X 667 22.067 P