Better Products, Inc., manufactures three products on two machines. In a typical week, 40 hours are available on each machine. The profit contribution and production time in hours per unit are as follows: Category Product 1 Product 2 Product 3 Profit/unit $30 $50 $20 Machine 1 time/unit 0.5 2.0 0.75 Machine 2 time/unit 1.0 1.0 0.5 Two operators are required for machine 1-thus, 2 hours of labor must be scheduled for each hour of machine 1 time. Only one operator is required for machine 2. A maximum of 100 labor-hours is available f assignment to the machines during the coming week. Other production requirements are that product 1 cannot account for more than 50% of the units produced and that product 3 must account for at least 2 of the units produced. (a) How many units of each product should be produced to maximize the total profit contribution? What is the projected weekly profit (in $) associated with your solution? Product 1 25 Product 2 Product 3 25 weekly profit $ 1250 (b) How many hours of production time will be scheduled on each machine? 31.25 37.5 machine 1 v hr machine 2 v hr (c) What is the value (in $) of an additional hour of labor? $ 25
Better Products, Inc., manufactures three products on two machines. In a typical week, 40 hours are available on each machine. The profit contribution and production time in hours per unit are as follows: Category Product 1 Product 2 Product 3 Profit/unit $30 $50 $20 Machine 1 time/unit 0.5 2.0 0.75 Machine 2 time/unit 1.0 1.0 0.5 Two operators are required for machine 1-thus, 2 hours of labor must be scheduled for each hour of machine 1 time. Only one operator is required for machine 2. A maximum of 100 labor-hours is available f assignment to the machines during the coming week. Other production requirements are that product 1 cannot account for more than 50% of the units produced and that product 3 must account for at least 2 of the units produced. (a) How many units of each product should be produced to maximize the total profit contribution? What is the projected weekly profit (in $) associated with your solution? Product 1 25 Product 2 Product 3 25 weekly profit $ 1250 (b) How many hours of production time will be scheduled on each machine? 31.25 37.5 machine 1 v hr machine 2 v hr (c) What is the value (in $) of an additional hour of labor? $ 25
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter6: Linear Systems
Section6.8: Linear Programming
Problem 5SC: If during the following year it is predicted that each comedy skit will generate 30 thousand and...
Related questions
Topic Video
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, advanced-math and related others by exploring similar questions and additional content below.Recommended textbooks for you
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning