Question
In: Advanced Math
QUESTION 3 USE LINGO OR MANUAL LP) Chemco produces three products: A, B, and C. They...
QUESTION 3 USE LINGO OR MANUAL LP) Chemco produces three products: A, B, and C. They can sell up to 30 pounds of each product at the following prices (per pound): product A, $10; product B, $12; product C, $20. Chemco purchases raw material at $5/lb. Each pound of raw material can be used to produce either 1 lb of A or 1 lb of B. For a cost of $3/lb processed, product A can be converted to .6 lb of product B and .4 lb of product C. For a cost of $2/lb processed, product B can be converted to .8 lb of product C. Formulate an LP whose solution will tell Chemco how to maximize their profit. Solve using using any method (LINGO, SOLVER OR MANUAL LP).
Solutions
Colby Messinger answered 1 year agoRelated Solutions
Benoit Company produces three products—A, B, and C. Data concerning the three products follow (per unit):...
Benoit Company produces three products—A, B, and C. Data
concerning the three products follow (per unit):
Product
A
B
C
Selling price
$
84.00
$
70.00
$
74.00
Variable expenses:
Direct materials
25.20
21.00
9.00
Other variable expenses
25.20
31.50
42.80
Total variable expenses
50.40
52.50
51.80
Contribution margin
$
33.60
$
17.50
$
22.20
Contribution margin ratio
40
%
25
%
30
%
The company estimates that it can sell 750 units of each product
per month. The same...
Benoit Company produces three products—A, B, and C. Data concerning the three products follow (per unit):...
Benoit Company produces three products—A, B, and C. Data
concerning the three products follow (per unit):
Product
A
B
C
Selling
price
$
88.00
$
72.00
$
78.00
Variable
expenses:
Direct
materials
26.40
18.00
9.00
Other variable
expenses
26.40
36.00
45.60
Total variable
expenses
52.80
54.00
54.60
Contribution
margin
$
35.20
$
18.00
$
23.40
Contribution
margin ratio
40
%
25
%
30
%
The company estimates that it can sell 900 units of each product
per month. The same...
Benoit Company produces three products—A, B, and C. Data concerning the three products follow (per unit):...
Benoit Company produces three products—A, B, and C. Data
concerning the three products follow (per unit): Product A B C
Selling price $ 88.00 $ 72.00 $ 78.00 Variable expenses: Direct
materials 26.40 18.00 9.00 Other variable expenses 26.40 36.00
45.60 Total variable expenses 52.80 54.00 54.60 Contribution margin
$ 35.20 $ 18.00 $ 23.40 Contribution margin ratio 40 % 25 % 30 %
The company estimates that it can sell 900 units of each product
per month. The same...
Benoit Company produces three products—A, B, and C. Data concerning the three products follow (per unit):...
Benoit Company produces three products—A, B, and C. Data
concerning the three products follow (per unit):
Product
A
B
C
Selling price
$
72.00
$
60.00
$
62.00
Variable expenses:
Direct materials
21.60
18.00
9.00
Other variable expenses
21.60
27.00
34.40
Total variable expenses
43.20
45.00
43.40
Contribution margin
$
28.80
$
15.00
$
18.60
Contribution margin ratio
40
%
25
%
30
%
The company estimates that it can sell 1,000 units of each
product per month. The same...
Benoit Company produces three products—A, B, and C. Data concerning the three products follow (per unit):...
Benoit Company produces three products—A, B, and C. Data
concerning the three products follow (per unit):
Product
A
B
C
Selling price
$
80.00
$
66.00
$
72.00
Variable expenses:
Direct materials
24.00
16.50
12.00
Other variable expenses
24.00
33.00
38.40
Total variable expenses
48.00
49.50
50.40
Contribution margin
$
32.00
$
16.50
$
21.60
Contribution margin ratio
40
%
25
%
30
%
The company estimates that it can sell 700 units of each product
per month. The same...
Benoit Company produces three products—A, B, and C. Data concerning the three products follow (per unit):...
Benoit Company produces three products—A, B, and C. Data
concerning the three products follow (per unit):
Product
A
B
C
Selling price
$
72.00
$
60.00
$
62.00
Variable expenses:
Direct materials
21.60
18.00
9.00
Other variable expenses
21.60
27.00
34.40
Total variable expenses
43.20
45.00
43.40
Contribution margin
$
28.80
$
15.00
$
18.60
Contribution margin ratio
40
%
25
%
30
%
The company estimates that it can sell 1,000 units of each
product per month. The same...
Benoit Company produces three products—A, B, and C. Data concerning the three products follow (per unit):...
Benoit Company produces three products—A, B, and C. Data
concerning the three products follow (per unit):
Product
A
B
C
Selling price
$
72.00
$
54.00
$
62.00
Variable expenses:
Direct materials
21.60
18.00
9.00
Other variable expenses
21.60
22.50
34.40
Total variable expenses
43.20
40.50
43.40
Contribution margin
$
28.80
$
13.50
$
18.60
Contribution margin ratio
40
%
25
%
30
%
The company estimates that it can sell 700 units of each product
per month. The same...
Benoit Company produces three products—A, B, and C. Data concerning the three products follow (per unit):...
Benoit Company produces three products—A, B, and C. Data
concerning the three products follow (per unit):
Product
A
B
C
Selling price
$
90.00
$
60.00
$
80.00
Variable expenses:
Direct materials
27.00
15.00
9.00
Other variable expenses
27.00
30.00
47.00
Total variable expenses
54.00
45.00
56.00
Contribution margin
$
36.00
$
15.00
$
24.00
Contribution margin ratio
40
%
25
%
30
%
The company estimates that it can sell 850 units of each product
per month. The same...
Benoit Company produces three products—A, B, and C. Data concerning the three products follow (per unit):...
Benoit Company produces three products—A, B, and C. Data
concerning the three products follow (per unit):
Product A
Selling Price $92
Variable Expenses
Direct Materials $27.60
Other Variable Expeneses $27.60
Total Variable Expenses $55.20
Contribution Margin $36.80
Contribution Margin Ratio 40%
Product B
Selling Price $66.00
Variable Expenses
Direct Materials $18.00
Other Variable Expeneses $31.50
Total Variable Expenses $49.50
Contribution Margin $16.50
Contribution Margin Ratio 25%
Product C
Selling Price $82.00
Variable Expenses
Direct Materials $12.00
Other Variable Expeneses $45.40...
Benoit Company produces three products—A, B, and C. Data concerning the three products follow (per unit):...
Benoit Company produces three products—A, B, and C. Data
concerning the three products follow (per unit):
Product
A
B
C
Selling price
$
90.00
$
60.00
$
80.00
Variable expenses:
Direct materials
27.00
18.00
9.00
Other variable expenses
27.00
27.00
47.00
Total variable expenses
54.00
45.00
56.00
Contribution margin
$
36.00
$
15.00
$
24.00
Contribution margin ratio
40
%
25
%
30
%
The company estimates that it can sell 750 units of each product
per month. The same...
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