maximize profit, Financial Accounting

Assignment Help:

Natural Furniture Company manufactures three outdoor products, benches, chairs, and tables. Every product must pass by the following departments before it is shipped: sanding, sawing, assembly, and painting. The time requirements (in hours) are concise in the tables below.
The production time available in every department every week and the minimum weekly production must to fulfill contracts are as follows:

 

2066_44.png

758_44.png

 

The production manager has the responsibility of specifying production levels for each product for the coming week.

A. Formulate as a problem to maximize profit.

B. The objective function is:

C. What mix of products would yield maximum profit?

D. Summarize your approach to this problem in a 1-2 page paper. What techniques from the course/text did you apply to solve Natural Furniture Company's production output? Explain why you chose that approach.

 

 

 


Related Discussions:- maximize profit

#title.patnership, AsIDENTIFY THE MAIN PROVISIONS OF THE PARTNERSHIP ACT k ...

AsIDENTIFY THE MAIN PROVISIONS OF THE PARTNERSHIP ACT k question #Minimum 100 words accepted#

Dividends out of the capital profits , Dividends out of the capital profits...

Dividends out of the capital profits Dividends out of the capital profits are apportioned on the same basis as dividends out of income (Re. Doughty). (a) Variation of sec

What is accounting and book keeping, Question 1 What is accounting and boo...

Question 1 What is accounting and book keeping? Explain the objectives of accounting? Question 2 Explain GAAP and write down the relationship between accounting principles, a

Characteristics of a will-executorship laws and accounts, Characteristics o...

Characteristics of a will 1) Dispositionary:  A will disposes the deceased’s property. 2) Formality:   For a will to be valid, it  must be written and signed by the d

Liquidation of the company, The balance sheet of Marilyn and Monroe was as ...

The balance sheet of Marilyn and Monroe was as follows immediately prior to the partnership's being liquidated: cash, $25,426; other assets, $130,439; liabilities, $22,198; Marilyn

Trustees remuneration-trusts laws and accounts, Trustees remuneration A...

Trustees remuneration A trustee may not receive remuneration except: 1. By order of the court, if the trust is very onerous or the services of the trustee very valuable;

How much of the existing cash balance, As of January 1, 2011, the partnersh...

As of January 1, 2011, the partnership of Canton, Yulls, and Garr had the following account balances and percentages for the sharing of profits and losses: Cash 80,000 non cash

Estimation of current cost of debt, Q. Estimation of current cost of debt? ...

Q. Estimation of current cost of debt? The debenture will be used to estimation the current cost of debt as it is the only marketable debt. The present market value of the debe

Very difficult financial account question, Ask questSarah is the sole distr...

Ask questSarah is the sole distributor agent in her area for Holmes Kitchen Tiles. Sarah purchases the titles at a trade discount and annually in May receives an agency commission

Determine the net present value - cost of capital, What is the net present...

What is the net present value of a project that requires a net investment of $76,000 and produces net cash flows of $22,000 per year for 7 years? Assume the cost of capital is 15 p

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd