Question

In: Advanced Math

Patio Iron makes wrought iron outdoor dining tables, chairs, and stools. Each table uses 8 feet...

Patio Iron makes wrought iron outdoor dining tables, chairs, and stools. Each table uses 8 feet of a standard width wrought iron, 2 hours of labor for cutting and assembly, and 2 hours of labor for detail and finishing work. Each chair uses 6 feet of the wrought iron, 2 hours of cutting and assembly labor, and 1.5 hours of detail and finishing labor. Each stool uses 1 foot of the wrought iron, 1.5 hours for cutting and assembly, and 0.5 hour for detail and finishing work, and the daily demand for stools is at most 10. Each day Patio Iron has available at most 154 feet of wrought iron, 55 hours for cutting and assembly, and 50 hours for detail and finishing. If the profits are $60 for each dining table, $48 for each chair, and $36 for each stool, how many of each item should be made each day to maximize profit?

Solutions

Expert Solution

Now we solve the above LPP using Simplex Method as shown below ---

Hence the Patio Iron should make 12 dinning tables, 8 chairs and 10 stools to maximize its profit. The maximum profit is $ 1464


Related Solutions

A division of the Winston Furniture Company manufactures dining tables and chairs. Each table requires 40...
A division of the Winston Furniture Company manufactures dining tables and chairs. Each table requires 40 board feet of wood and 3 labor-hours. Each chair requires 16 board feet of wood and 4 labor-hours. The profit for each table is $50, and the profit for each chair is $40. In a certain week, the company has 3200 board feet of wood available and 520 labor-hours available. How many tables and chairs should Winston manufacture to maximize its profit? (Let x...
THREE-PRODUCTS COMPANY MAKES AND SELLS THREE PRODUCTS: TABLES, CHAIRS, AND SHELVES. FOR EACH TABLE SOLD, THEY...
THREE-PRODUCTS COMPANY MAKES AND SELLS THREE PRODUCTS: TABLES, CHAIRS, AND SHELVES. FOR EACH TABLE SOLD, THEY SELL 6 CHAIRS AND 3 SHELVES. SELLING PRICES FOR TABLES, CHAIRS, & SHELVES ARE $50, $10, AND $15, RESPECTIVELY; WHILE THE VARIABLE COSTS ARE $40, $5, AND $7, RESPECTIVELY. THE TOTAL FIXED COSTS ARE $12,800. 1. CALCULATE THE BREAK-EVEN IN UNITS AND SALES-DOLLARS. 2. IF THE TAX-RATE IS 30% AND THE DESIRED AFTER-TAX PROFIT IS $4,480, WHAT IS THE TARGET SALES IN UNITS AND...
Fulcrum Industries manufactures dining chairs and tables. The following information is available:
Problem 2. Fulcrum Industries manufactures dining chairs and tables. The following information is available:Dining ChairsTablesTotal CostMachine setups200600$48,000Inspections250470$72,000Labor hours2,6002,400Fulcrum is considering switching from one overhead rate based on labor hours to activity-based costing. Instructions Perform the following analyses for these two components of overhead: a. Compute total machine setups and inspection costs assigned to each product, using a single overhead rate. b. Compute total machine setups and inspection costs assigned to each product, using activity-based costing. c. Comment on your findings.
Q.2 (Max Marks:90) Bombera Ltd operates at capacity and makes glass-topped dining tables and wooden chairs,...
Q.2 (Max Marks:90) Bombera Ltd operates at capacity and makes glass-topped dining tables and wooden chairs, which are then typically sold as sets of four chairs with one table. However, some customers purchase replacement or extra chairs, and others buy some chairs or a table only, so the sales mix is not exactly 4:1. Bombera Ltd is planning its annual budget for the financial year 2018. Information for 2018 follows: Input prices   Direct materials Wood $5.30 per board metre Glass...
Assume that the market for patio chairs is a monopoly and charges each consumer the same price for patio chairs. producers have the same cost situation:
Assume that the market for patio chairs is a monopoly and charges each consumer the same price for patio chairs. producers have the same cost situation:• The labor and raw material expense of producing additional units of patio chairs for every factory is constant at $10 and equal to average total costs. Assume this is the long run, so fixed costs are equal to zero. Per-period market demand for patio chairs is stable, and described by the data in the...
Assume that the market for patio chairs is a monopoly and charges each consumer the same price for patio chairs. producers have the same cost situation:
Assume that the market for patio chairs is a monopoly and charges each consumer the same price for patio chairs. producers have the same cost situation:• The labor and raw material expense of producing additional units of patio chairs for every factory is constant at $10 and equal to average total costs. Assume this is the long run, so fixed costs are equal to zero. Per-period market demand for patio chairs is stable, and described by the data in the...
Thomas Tables Ltd. makes fashionable handcrafted dining tables. The bottleneck in the production process is in...
Thomas Tables Ltd. makes fashionable handcrafted dining tables. The bottleneck in the production process is in the carving shop. Carving the tables is a craft that takes years of experience to master. Demand for these handcrafted tables exceeds the company’s capacity. Information concerning the company’s three product lines appears below: Ornate Table     Classic Table    Modern Table Selling price per unit $2,000 $1,900 $2,200 Variable cost per unit $1,200 $1,000 $1,200 Carving shop time required to produce one unit...
Thomas Tables Ltd. makes fashionable handcrafted dining tables. The bottleneck in the production process is in...
Thomas Tables Ltd. makes fashionable handcrafted dining tables. The bottleneck in the production process is in the carving shop. Carving the tables is a craft that takes years of experience to master. Demand for these handcrafted tables exceeds the company’s capacity. Information concerning the company’s three product lines appears below: Ornate Table     Classic Table    Modern Table Selling price per unit $2,000 $1,900 $2,200 Variable cost per unit $1,200 $1,000 $1,200 Carving shop time required to produce one unit...
Financial Information: TV tables dining Tables Chairs Selling Price per unit SAR 1,000 SAR 5,000 SAR...
Financial Information: TV tables dining Tables Chairs Selling Price per unit SAR 1,000 SAR 5,000 SAR 700 Direct Materials cost per 1 Kg of wood timber SAR 50 SAR 50 SAR 50 Kg of wood timber required per unit 10 35 5 Direct Labour hour cost SAR 30 SAR 30 SAR 30 Sales commission per item sold SAR 10 SAR 15 SAR 5 Variable manufacturing overhead per unit SAR 20 SAR 24 SAR 18 Number of labour hours per unit...
Financial Information: TV tables dining Tables Chairs Selling Price per unit SAR 1,000 SAR 5,000 SAR...
Financial Information: TV tables dining Tables Chairs Selling Price per unit SAR 1,000 SAR 5,000 SAR 700 Direct Materials cost per 1 Kg of wood timber SAR 50 SAR 50 SAR 50 Kg of wood timber required per unit 10 35 5 Direct Labour hour cost SAR 30 SAR 30 SAR 30 Sales commission per item sold SAR 10 SAR 15 SAR 5 Variable manufacturing overhead per unit SAR 20 SAR 24 SAR 18 Number of labour hours per unit...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT