Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Your Lego furniture company makes Tables and Chairs. Below, you are given the starting inventory, selling price, and Bill of Materials (recipe, or construction requirements).

Your Lego furniture company makes Tables and Chairs. Below, you are given the starting inventory, selling price, and Bill of Materials (recipe, or construction requirements). You are to determine the number of Tables and Chairs to be built to maximize revenue.

Your answer will be the revenue generated by your production plan - rounded to the nearest whole dollar. (The number of tables and chairs may not be a whole number, which is acceptable in this chapter.)

Use Scenario 4

Scenario 1 Scenario 2 Scenario 3 Scenario 4 Scenario 5
Large wood per Table 3 4 2 2 5
Small wood per Table 2 2 2 4 2
Large wood per Chair 1 2 3 3 2
Small wood per Chair 4 4 3 4 6
Revenue per Table $20 $22 $19 $18 $25
Revenue per Chair $16 $16 $19 $21 $22
Large wood inventory 85 90 90 80 200
Small wood inventory 80 50 50 130 190

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Principles of Economics

Authors: Robert Frank, Ben Bernanke

5th edition

73511404, 978-0073511405

Students also viewed these Accounting questions