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Flexco produces six products in the following manner. Each unit of raw material purchased yields 4 units of product 1, 2 units of product 2, and 1 unit of product 3. Up to 1200 units of product 1 can be sold, and up to 300 units of product 2 can be sold. Demand for products 3 and 4 is unlimited. Each unit of product 1 can be sold or processed further. Each unit of product 1 that is processed further yields 1 unit of product 4. Each unit of product 2 can be sold or processed further. Each unit of product 2 that is processed further yields 0.8 unit of product 5 and 0.3 unit of product 6. Up to 1000 units of product 5 can be sold, and up to 800 units of product 6 can be sold. Up to 3000 units of raw material can be purchased at $6 per unit. Leftover units of products 5 and 6 must be destroyed. It costs $4 to destroy each leftover unit of product 5 and $3 to destroy each leftover unit of product 6. Ignoring raw material purchase costs, the unit price and production cost for each product are listed in the file P04_118.xlsx. Determine a profit-maximizing production schedule for Flexco.
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Practical Management Science
6th Edition
WINSTON + 1 other
Publisher: Cengage,
ISBN: 9781337406659
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BuyFindarrow_forward
Practical Management Science
6th Edition
WINSTON + 1 other
Publisher: Cengage,
ISBN: 9781337406659
Chapter 4, Problem 118P
Textbook Problem
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Flexco produces six products in the following manner. Each unit of raw material purchased yields 4 units of product 1, 2 units of product 2, and 1 unit of product 3. Up to 1200 units of product 1 can be sold, and up to 300 units of product 2 can be sold. Demand for products 3 and 4 is unlimited. Each unit of product 1 can be sold or processed further. Each unit of product 1 that is processed further yields 1 unit of product 4. Each unit of product 2 can be sold or processed further. Each unit of product 2 that is processed further yields 0.8 unit of product 5 and 0.3 unit of product 6.
Up to 1000 units of product 5 can be sold, and up to 800 units of product 6 can be sold. Up to 3000 units of raw material can be purchased at $6 per unit. Leftover units of products 5 and 6 must be destroyed. It costs $4 to destroy each leftover unit of product 5 and $3 to destroy each leftover unit of product 6. Ignoring raw material purchase costs, the unit price and production cost for each product are listed in the file P04_118.xlsx. Determine a profit-maximizing production schedule for Flexco.
Summary Introduction
To develop: A profit maximization schedule for Company F.
Linear programming:
It is a mathematical modeling procedure were a linear function is maximized or minimized subject to certain constraints. This method is widely useful in making a quantitative analysis which is essential for making important business decisions.
Explanation of Solution
Model:
Solver input:
The solver input is selected from under the “Data” tab in Excel and the input is given as shown below:
Chapter 4 Solutions
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