Question
In: Math
M3_IND1. A furniture cabinet maker produces two types of cabinets, Classic and Modern, that house and...
M3_IND1. A furniture cabinet maker produces two types of cabinets, Classic and Modern, that house and hide LCD TVs. The resource requirements and profit for the two types of cabinets are shown below.
Resource Requirements and Profitability Model Materials ($/unit) Labor (hrs./unit) Profit ($/unit)
material($units) labor(Hours/units) profits($/units)
Classic 800 12 350
Modern 600 4 250
The firm has a budget of $185,000 to spend on materials. The firm has 2,000 labor hours are available for use. What is the best combination of furniture cabinets to be made? Solve this two decision variable problem using the LP Graphing utility. a) What is the profit (value of the objective function) for the optimal solution? b) How many Classic models should be produced (based on the optimal solution)? c) How many Modern models should be produced (based on the optimal solution)? d) Is the production of 80 Classic models and 160 Modern models feasible (not asking if it is optimal).
Solutions
milcah answered 1 year agoRelated Solutions
Module 3 Individual Problems M3_IND1. A furniture cabinet maker produces two types of cabinets, Classic and...
Module 3 Individual Problems
M3_IND1. A furniture cabinet maker produces two types of
cabinets, Classic and Modern, that house and hide LCD TVs. The
resource requirements and profit for the two types of cabinets are
shown below.
800 12 350
The firm has a budget of $185,000 to spend on materials. The
firm has 2,000 labor hours are available for use. What is the best
combination of furniture cabinets to be made? Solve this two
decision variable problem using the...
Hillsdale Media is a specialty kitchen cabinet maker that produces cabinets to order. It is a...
Hillsdale Media is a specialty kitchen cabinet maker that
produces cabinets to order. It is a mature business that earned
EBITDA of $900,000 on revenues of $ 5 million in the most recent
year and is expected to continue to generate these figures in
perpetuity. The company is considering carrying some of its most
popular models in inventory, with an eye on increasing sales and
operating profits. It has collected the following information: • To
carry inventory, the company will...
Hillsdale Media is a specialty kitchen cabinet maker that produces cabinets to order. It is a...
Hillsdale Media is a specialty kitchen cabinet maker that
produces cabinets to order. It is a mature business that earned
EBITDA of $900,000 on revenues of $5 million in the most recent
year and is expected to continue to generate these figures in
perpetuity. The company is considering carrying some of its most
popular models in inventory, with an eye on increasing sales and
operating profits. It has collected the following information To
carry inventory, the company will have to...
Metal Cabinet, Inc. produces two types of filing cabinets. Material costs for the two drawer model...
Metal Cabinet, Inc. produces two types of filing cabinets.
Material costs for the two drawer model are $75. The four-drawer
model contains $130 of material.
Their estimated monthly conversion costs follow:
Costs
Sheet Metal Cutting
Assembly
Painting
Labor Costs
$40,000
$28,000
$42,000
Handling Costs
$10,000
$14,000
$5,000
Maintenance Costs
$5,000
$2,000
$5,000
Power Costs
$2,000
$2,000
$3,000
Depreciation Expenses
$4,000
$2,000
$8,000
General Expenses
$3,000
$2,000
$2,000
-
-
-
-
Total Hours During the Period
3,200
1,000
5,000
-...
A furniture manufacturer produces two types of display cabinets Type A and Type B Each month...
A furniture manufacturer
produces two types of display cabinets Type A and Type B Each month
x of type A and y of type B are produced. Profit on type A is 300SR
and profit on type B is 150SR. The following constraints control
monthly production :
(i)
Not more than 50 display cabinets of type A and 40 display
cabinets of type B can be made
(ii)
To show a profit at least 60 display cabinets in all must...
Classic Cabinets has a factory that produces custom kitchen cabinets. It has multiple product lines. Materials...
Classic Cabinets has a factory that produces custom kitchen
cabinets. It has multiple product lines.
Materials and labor for the cabinets are determined by each job.
To simplify the assignment, we will assume the following average
costs.
The materials include $1,500 for the wood and other materials on
a per job basis. It requires 20 hours of labor on average for a
custom kitchen. The hourly rate is $12. The sales
price will be set at a markup of 85%....
Classic Cabinets has a factory that produces custom kitchen cabinets. It has multiple product lines. Materials...
Classic Cabinets has a factory that produces custom kitchen
cabinets. It has multiple product lines.
Materials and labor for the cabinets are determined by each job.
To simplify the assignment, we will assume the following average
costs.
The materials include $1,000for the wood and other materials of
$200. Both items listed are on a per job basis. It requires 20
hours of labor on average for a custom kitchen. The hourly rate is
$10. The sales price will be set...
Classic Cabinets has a factory that produces custom kitchen cabinets. It has multiple product lines. Materials...
Classic Cabinets has a factory that produces custom kitchen
cabinets. It has multiple product lines.
Materials and labor for the cabinets are determined by each job.
To simplify the assignment, we will assume the following average
costs.
The materials include $1,000for the wood and other materials of
$200. Both items listed are on a per job basis. It requires 20
hours of labor on average for a custom kitchen. The hourly rate is
$10. The sales price will be set...
Classic Cabinets has a factory that produces custom kitchen cabinets. It has multiple product lines. Materials...
Classic Cabinets has a factory that produces custom kitchen
cabinets. It has multiple product lines.
Materials and labor for the cabinets are determined by each job.
To simplify the assignment, we will assume the following average
costs.
The following information shows Classic Cabinet’s cost structure
of 2018. The materials include $1,500 for the wood and other
materials on a per job basis. It requires 20 hours of labor on
average for a custom kitchen. The hourly rate is
$12. The...
Classic Cabinets has a factory that produces custom kitchen cabinets. It has multiple product lines. Materials...
Classic Cabinets has a factory that produces custom kitchen
cabinets. It has multiple product lines.
Materials and labor for the cabinets are determined by each job.
To simplify the assignment, we will assume the following average
costs.
The materials include $1,000for the wood and other materials of
$200. Both items listed are on a per job basis. It requires 20
hours of labor on average for a custom kitchen. The hourly rate is
$10. The sales price will be set...
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