A furniture company manufactures tables and chairs. A table requires 45 board-feet of wood, and a chair requires 20 board-feet of wood. Wood can be purchased at a cost of $1.90 per board-foot, and 25,000 board-feet of wood are available for purchase. It takes 2.5 hours of skilled labor to manufacture an unfinished table or an unfinished chair. Then 3 more hours of skilled labor will turn an unfinished table into a finished table, and 1.5 more hours of skilled labor will turn an unfinished chair into a finished chair. A total of 4500 hours of skilled labor is available (and have already been paid for). All furniture produced can be sold at the following unit prices: an unfinished table, $180; a finished table, $330; an unfinished chair, $130; and a finished chair, $200. a. Determine how to maximize the company's profit from manufacturing tables and chairs. using Excel solver
A furniture company manufactures tables and chairs.
A table requires
45 board-feet of wood, and a chair requires
20 board-feet of wood. Wood can be
purchased at a cost of $1.90 per board-foot, and 25,000
board-feet of wood are available for purchase. It takes
2.5 hours of skilled labor to manufacture an unfinished
table or an unfinished chair. Then 3 more hours of
skilled labor will turn an unfinished table into a finished
table, and 1.5 more hours of skilled labor will
turn an unfinished chair into a finished chair. A total of 4500 hours of skilled labor is available (and have already
been paid for). All furniture
produced can be sold
at the following
unit prices: an unfinished table, $180;
a finished
table, $330; an unfinished chair, $130; and a
finished
chair, $200.
a. Determine how to maximize the company's profit
from manufacturing tables and chairs.
using Excel solver
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
