Smith Smith Products Ltd produces two products, in a process which is partly automated. It is restricted to 400 labour hours and 600 machine hours in the coming week. Information on each product is as follows: Per unit A B £ £ Selling price 50 60 Labour (£10 per hour) 20 30 Material used 8 12 Other variable costs 17 14 Fixed costs 3 1 Machine time taken 4 hours 2 hours Required: Derive the objective function Set out the constraints in a mathematical format Sketch a graph representing the problem; identify the feasible region and the optimal solution before solving algebraically for the optimal production plan.
Smith Smith Products Ltd produces two products, in a process which is partly automated. It is restricted to 400 labour hours and 600 machine hours in the coming week. Information on each product is as follows: Per unit A B £ £ Selling price 50 60 Labour (£10 per hour) 20 30 Material used 8 12 Other variable costs 17 14 Fixed costs 3 1 Machine time taken 4 hours 2 hours Required: Derive the objective function Set out the constraints in a mathematical format Sketch a graph representing the problem; identify the feasible region and the optimal solution before solving algebraically for the optimal production plan.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 33P: Assume the demand for a companys drug Wozac during the current year is 50,000, and assume demand...
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Question
Smith
Smith Products Ltd produces two products, in a process which is partly automated. It is restricted to 400 labour hours and 600 machine hours in the coming week.
Information on each product is as follows:
Per unit |
A |
B |
|
£ |
£ |
Selling price |
50 |
60 |
Labour (£10 per hour) |
20 |
30 |
Material used |
8 |
12 |
Other variable costs |
17 |
14 |
Fixed costs |
3 |
1 |
|
|
|
Machine time taken |
4 hours |
2 hours |
Required:
Derive the objective function
Set out the constraints in a mathematical format
Sketch a graph representing the problem; identify the feasible region and the optimal solution before solving algebraically for the optimal production plan.
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