Are my formulas correct and did I get the correct answer (I get $333,000 as my answer for Maximized Profit)? If not show me how to fix it.Question: Sunblessed Juice Company sells bags of oranges and cartons of orange juice. Sunblessed grades oranges on a scale of 1 (poor) to 10 (excellent). At present, Sunblessed has 220,000 pounds of grade 6 oranges and 150,000 pounds of grade 9 oranges on hand. The aver- age quality of oranges sold in bags must be at least 7, and the average quality of the oranges used to produce orange juice must be at least 8. Each pound of oranges that is used for juice yields a revenue of $2.25 and in- curs a variable cost (consisting of labor costs, variable overhead costs, inventory costs, and so on) of $1.35. Each pound of oranges sold in bags yields a revenue of $2.00 and incurs a variable cost of $1.20.a. Determine how Sunblessed can maximize its profit. 10F12X ✓ fxA1 Selling oranges and orange juice3 Revenues, variable costs45 Revenue6Variable cost78Grades used to make juice and bags9Grade10 611 912Sold1314 Required average quality15161718 Quality constraints1920 Actual2122 Required2324 Total variable cost25Total revenue2627 Maximized Profit28293031323334353623accReadyJUN9P4-46 ModelByou want to continue working where you left off?CDJuiceBagsBags2.251.3522000001500000-SUM(B10:B11)=SUM(C10:C11)JuiceBags8JuiceBags=SUMPRODUCT($A$10:$A$11,B10:B11) =SUMPRODUCT($A$10:$A$11,C10:C11)>>==B12 B16=C12*C16=B12*B6+C12*C6=B12*B5+C12*C5=B25-824P4-46 Sensitivity AnalysisP4-48 Sensitivity Analysis♫AZ alıJuice21.227P4-48 ModelA I=B10+C10=B11+C11UsedP4-50 ModelDX<=<=EW2220000150000P4-50 Sensitivity Analysis 3FAvailable KYesSolver ParametersmSet Objective:$B$27To: O MaxMinValue Of:By Changing Variable Cells:$B$10:$C$11Subject to the Constraints:$B$20:$C$20 >= $B$22:$C$22$D$10:$D$11 <= $F$10:$F$11AddChangeDeleteReset AllLoad/Save✔Make Unconstrained Variables Non-NegativeSelect a Solving Method: Simplex LPOptionsSolving MethodSelect the GRG Nonlinear engine for Solver Problems that are smoothnonlinear. Select the LP Simplex engine for linear Solver Problems,smooth.and select the Evolutionary engine for Solver problems that are non-CloseSolveSensitivity Analysis 3+|No0

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Answered: Are my formulas correct and did I get…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Are my formulas correct and did I get the correct answer (I get $333,000 as my answer for Maximized Profit)? If not show me how to fix it.

Question: Sunblessed Juice Company sells bags of oranges and cartons of orange juice. Sunblessed grades oranges on a scale of 1 (poor) to 10 (excellent). At present, Sunblessed has 220,000 pounds of grade 6 oranges and 150,000 pounds of grade 9 oranges on hand. The aver- age quality of oranges sold in bags must be at least 7, and the average quality of the oranges used to produce orange juice must be at least 8. Each pound of oranges that is used for juice yields a revenue of $2.25 and in- curs a variable cost (consisting of labor costs, variable overhead costs, inventory costs, and so on) of $1.35. Each pound of oranges sold in bags yields a revenue of $2.00 and incurs a variable cost of $1.20.

a. Determine how Sunblessed can maximize its profit.