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A manufacturer produces both widgets and gadgets. Widgets generate a profit of $75 each and gadgets have a profit margin of $65 each. To produce each item, a setup cost is incurred. This setup cost is $400 for widgets and $300 for gadgets. Widgets consume 4 units of raw material A and 8 units of raw material B. Gadgets consume 6 units of raw material A and 2 units of raw material B. Each day, the manufacturer has 400 units of each raw material available. Assume that it is possible to produce fractional quantities of widgets and gadgets. Set up the problem in Excel and find the optimal solution. a. The manufacturer widgets and gadgets.

A manufacturer produces both widgets and gadgets. Widgets generate a profit of $75 each and gadgets have a profit margin of $65 each. To produce each item, a setup cost is incurred. This setup cost is $400 for widgets and $300 for gadgets. Widgets consume 4 units of raw material A and 8 units of raw material B. Gadgets consume 6 units of raw material A and 2 units of raw material B. Each day, the manufacturer has 400 units of each raw material available. Assume that it is possible to produce fractional quantities of widgets and gadgets. Set up the problem in Excel and find the optimal solution. a. The manufacturer widgets and gadgets.

Algebra for College Students
Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter12: Algebra Of Matrices
Section12.CM: Cumulative Review Problem Set
Problem 115CM
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A manufacturer produces both widgets and gadgets. Widgets generate a profit of $75 each and gadgets have a profit margin of $65 each. To produce each item, a setup cost is incurred. This setup cost is $400 for widgets and $300 for gadgets. Widgets consume 4 units of raw material A and 8 units of raw material B. Gadgets consume 6 units of raw material A and 2 units of raw material B. Each day, the manufacturer has 400 units of each raw material available. Assume that it is possible to produce fractional quantities of widgets and gadgets. Set up the problem in Excel and find the optimal solution. a. The manufacturer widgets and gadgets. (Leave no cells blank- be certain to enter "0" wherever required. Round your answers to 2 decimal places.) b. The manufacturer will produce widgets and gadgets (Round your answer to 2 decimal places.) The manufacturer's profit will be C.
Transcribed Image Text:A manufacturer produces both widgets and gadgets. Widgets generate a profit of $75 each and gadgets have a profit margin of $65 each. To produce each item, a setup cost is incurred. This setup cost is $400 for widgets and $300 for gadgets. Widgets consume 4 units of raw material A and 8 units of raw material B. Gadgets consume 6 units of raw material A and 2 units of raw material B. Each day, the manufacturer has 400 units of each raw material available. Assume that it is possible to produce fractional quantities of widgets and gadgets. Set up the problem in Excel and find the optimal solution. a. The manufacturer widgets and gadgets. (Leave no cells blank- be certain to enter "0" wherever required. Round your answers to 2 decimal places.) b. The manufacturer will produce widgets and gadgets (Round your answer to 2 decimal places.) The manufacturer's profit will be C.
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