can you explain this answer for you? and more explaination for the avaribles. Step 1Let us assume the decision variable asE; = number of employees available in monthH; = number of employees hired in monthF;= number of employees fired in monthR;= regular production in month0; = overtime production in monthV;= Inventory at the end of monthTherefore,Regular production in each month =30 - wiOvertime production capacity =10% of ( 30 · w;) = 3w;Step 2Objective function:Minimum total cost including employees salary, hiring and firing cost, inventory holding cost,regular and overtime production cost.Minimum z=E 110w; + 8R1 + 7R2 + 4R3 + 2R4 + 6R5 + 8R6 + 8R7 + 6R8 + 7R9+7R10 + 5R|1 + 8R12 + 1V1 + 4V2 + 3V3 + 4V4 + 3V5 + 3V6 + 2V + 1V8+4V9 + 5V10 + 4V11 + 1V12 + 901 + 802 + 503 + 304 + 705 + 240H+25H8 + 162H9 + 228H10 + 210H|| + 192H12 + 213F¡ + 276F2 + 342F3+306F4 + 222F5 + 294F6 + 180F, + 190Fg + 200F9 + 200F10 + 210F11+ 240F12 = bartlebyQ Search for textbooks, step-by-step explanations to homework quee Q&A LibraryABC company produces and sells wooden «Formulate this problem as an Lp.ABC company produces and sells wooden desks. The demand is forecasted for each month ofthe next year. The company currently has 20 employees and each employee can produce 30desks in a month. The monthly salary for each employee is $110. Since raw material costschange each month, the production costs are different for each month of the year. Anexcessive amount produced in a month can be stored in the inventory for use in the followingmonths. However, the storage space has a capacity of 300 desks in total. The inventory holdingcosts are also different each month. In order to satisfy excessive demand in a month, thecompany may use its inventories, may implement overtime working hours, or hire additionalworkers. The total overtime production for each worker each month can be at most 10% of theregular time production. Also, the overtime production cost is different than the regular timeproduction cost. Furthermore, the maximum number of workers who can work in thecompany at the same time is 25. It is also possible to fire the workers but the workforce cannotbe less than 15. Hiring and firing costs differ each month. The objective function is to minimizethe total costCurrent ProductionEmployeMax.Storage Number of Min Number Salary ofСараacityperesEmployeeWorkersof Workers employees20303002515110InventoryHoldingOvertimeProductionProductionFiringHiring Cost192MonthDemandCostCostCostCost1520931228504.8.2942763670353003427104282306552037276222666083144294730082924018040012521904701622001076058.228200116104.6.2102101290091922407.CO8. 742 606677558

Step 1 Let us assume the decision variable as E; = number of employees available in month H; = number of employees hired in month F;= number of employees fired in month R;= regular production in month 0; = overtime production in month V;= Inventory at the end of month Therefore, Regular production in each month =30 - wi Overtime production capacity =10% of ( 30 - w;) = 3w; Step 2 Objective function: Minimum total cost including employees salary, hiring and firing cost, inventory holding cost, regular and overtime production cost. Minimum z=E 110w; + 8R1 + 7R2 + 4R3+ 2R4 + 6R5 + 8R6 + 8R7 + 6Rs + 7R9 +7R10 + 5R11 + 8R12 + 1V1 + 4V2 + 3V3 + 4V4 + 3Vs + 3V6 + 2V7 + 1Vg +4V9 + 5V10 + 4V1 + 1V12 + 901 + 802 + 503 + 304 +705 + 240H7 +25H8 + 162H9 + 228H10 + 210H| + 192H12 + 213F¡ + 276F2 + 342F3 +306F4 + 222Fs + 294F6 + 180F7 + 190Fg + 200F9 + 200F10 + 210F|| + 240F12

Step 1 Let us assume the decision variable as E; = number of employees available in month H; = number of employees hired in month F;= number of employees fired in month R;= regular production in month 0; = overtime production in month V;= Inventory at the end of month Therefore, Regular production in each month =30 - wi Overtime production capacity =10% of ( 30 - w;) = 3w; Step 2 Objective function: Minimum total cost including employees salary, hiring and firing cost, inventory holding cost, regular and overtime production cost. Minimum z=E 110w; + 8R1 + 7R2 + 4R3+ 2R4 + 6R5 + 8R6 + 8R7 + 6Rs + 7R9 +7R10 + 5R11 + 8R12 + 1V1 + 4V2 + 3V3 + 4V4 + 3Vs + 3V6 + 2V7 + 1Vg +4V9 + 5V10 + 4V1 + 1V12 + 901 + 802 + 503 + 304 +705 + 240H7 +25H8 + 162H9 + 228H10 + 210H| + 192H12 + 213F¡ + 276F2 + 342F3 +306F4 + 222Fs + 294F6 + 180F7 + 190Fg + 200F9 + 200F10 + 210F|| + 240F12

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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