maximize profit, Financial Accounting

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.

 

 

 

Posted Date: 3/16/2013 1:55:02 AM | Location : United States







Related Discussions:- maximize profit, Assignment Help, Ask Question on maximize profit, Get Answer, Expert's Help, maximize profit Discussions

Write discussion on maximize profit
Your posts are moderated
Related Questions
You are considering whether to replace an existing flow meter in an ongoing operation. A change in the meter will have not affect revenues but will reduce costs. The existing meter

Refer to the Consolidated Statements of Shareholders' Equity (pp. 62-63), Consolidated Statements of Cash Flow, including an abstract from Note 2, Cash Flow Information (pp. 61 and

Manik Enterprises spent $10,000 to purchase farming equipment 5 years ago. This equipment is presently valued at $2,000 on today's balance sheet but could actually be sold for $4,5

Inter Company balances One of the companies may appear as receivable (debtor) or payable (creditor) in the other company’s books. Just like in accounting four branches, such in

What is the function of balance sheet

The maturity date of a note receivable 1. Is the day of the credit sale 2. Is the day the note was signed 3. Is the day the note is due to be paid 4. Is the date of the first payme

Monetary Policy Unlike fiscal policy, monetary policy is set by unelected officials. A group of economists is appointed by the executive branch and confirmed by the Senate to

Craig's Cars has assets of $4,550 and stockholders' equity of $3,200. What is the amount of liabilities? What is the amount of claims?

The following table represents the demand for a product for the years 1990 to 2007: a.    Develop a linear trend line and use it to predict the quantity demanded for 2008,

The comparative financial statement of new World Piano Company for 2003,2002, and 2001 included the following selected data: 2003 2002 2003 In Millions Cash $67 $66 $62 Short T