Imagine that you are managing a factory that is building three products: TV sets, CD Players...

Imagine that you are managing a factory that is building three products: TV sets, CD Players and Bluetooth Speakers. Each product is assembled from parts in inventory, and there are four types of parts: LED Screens, speaker cones, power supplies and electronics units. The required parts (and quantities) for each product is listed in the following table:

Part Name / Product Usage	TV	CD Player	Bluetooth Speaker	Units in Inventory	Cost Per Unit
LED Screen	1	0	0	250	$ 51.20
Speaker Cone	2	2	1	600	$ 23.20
Power Supply	1	1	0	450	$ 5.90
Electronics	2	1	1	600	$ 3.60

For Example, to assemble a TV you need 1 LED Screen, 2 Speaker Cones, 1 Power Supply and 2 Electronics.

There are three Departments that are used in the production process. The departments and time available in each department is listed in the following table:

Department	TV	CD Player	Bluetooth Speaker	Time Available (hours)	Cost Per Hour
Assembly Time	0.45	0.5	0.4	200	$ 14
Inspection/Testing	0.5	0.4	0.4	150	$ 14
Packaging	0.1	0.15	0.2	60	$ 10

For example, a TV requires .45 hours in the Assembly Department, .5 hours in the Inspection/Testing Department and .1 hours in the Packaging Department.

The selling price of a TV is $200, a CD Player is $120 and a Bluetooth Speaker is $75.

Your goal is to determine how many TVs, CD Players and Bluetooth Speakers to produce that will Maximize Total Profit, given the inventory of products on hand and the time available in each department.

Post with Excel sheets and must have formulas included for rating.

Expert Solution

orchestra answered 1 year ago

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