Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use the simplex method to solve the following problem. A company manufactures three types of patio furniture: chairs, rockers, and chaise lounges. Each requires wood,

Use the simplex method to solve the following problem. A company manufactures three types of patio furniture: chairs, rockers, and chaise lounges. Each requires wood, plastic, and aluminum as given in Table 15-7. The company has available 400 units of wood, 500 units of plastic, and 1450 units of aluminum. Each chair, rocker, and chaise lounge sells at $7, $8, and $12, respectively. Assuming that all furniture can be sold, determine a production order so that total revenue will be maximum. What is the maximum revenue? Does the company need to use all of the available units of wood, plastic, and aluminum? Make sure you write a sentence or two when you answer the questions.

WOOD

PLASTIC

ALUMINUM

Chair

1 unit

1 unit

2 units

Rocker

1 unit

1 unit

2 units

Chaise lounge

1 unit

2 units

5 units

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Corporate Financial Management

Authors: Glen Arnold, James Pickford

2nd Edition

0582821762, 978-0582821767

More Books

Students also viewed these Finance questions

Question

=+What is the trimming percentage? What effect does trimming have?

Answered: 1 week ago