help! Vollmer Manufacturing makes three components for sale to refrigeration companies. The components are processed on two machines: a shaper and a grinder. The times (in minutes) required oneach machine are as follows:Component12312Shaper643Machine4Grinder4The shaper is available for 120 hours, and the grinder for 110 hours. No more than 250 units of component 3 can be sold, but up to 1,000 units of component 1 and up to 1,000 units ofcomponent 2 can be sold. In fact, the company already has orders for 550 units of component 1 that must be satisfied. The per unit selling price and per unit variable costs for each of the threecomponents are as follows:5Component Selling price Material Cost Labor Cost$26T⠀⠀$18$262$12$8$13$5$4$5(a) For each component, calculate the profit margin (profit marginComponent 1: $600Component 2: $700Component 3: $200=selling price - material cost - labor cost).Formulate and solve the model to determine the maximum profit. If the constant is "1", it must be entered in the box. If an amount is zero, enter "0".Let C1= units of component 1 manufacturedC2 = units of component 2 manufacturedC3 = units of component 3 manufactured Max $s.t.Maximum profit: $VariableC1C2C38 C15.006 C16.004 C10 C10 C₁No Lower Limit++C1, C2, C36 C24 C2to 9.005 C₂0 C2✓to 10.00✓to No Upper Limit+Interpret these ranges for company management.Individual changes in the profit coefficients within++9 C34 C32 C3(b) What are the objective coefficients ranges for the three components? If required, round your answers to two decimal places.Objective Coefficient Range0 C3VIVIVIVIVIIVIV7200 Shaper6600200100010006000GrinderMaximum units of component 3Maximum units of component 1Maximum units of component 2Minimum units of component 1these ranges will not cause a change in the optimal number of components to produce.

Also, the demand for 550 units of component 1 must be satisfied. Convert available hours in minutes…

Answered: Vollmer Manufacturing makes three…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter12: Queueing Models

Section: Chapter Questions

Problem 59P

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Vollmer Manufacturing makes three components for sale to refrigeration companies. The components are processed on two machines: a shaper and a grinder. The times (in minutes) required on each machine are as follows: Component Shaper 6 1 2 3 4 Machine 4 Grinder 4 5 2