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
Question: The manager of Ben and Jerry's Ice Cream is told that the direct material quantity variance for cherries in Cherries Garcia Ice cream is favorable. What could explain thi

Trend Analysis Trend analysis is an improvement over year-to-year analysis. When a comparison of financial statements covering more than three years i

The standard EOQ analysis is depends on the assumption which the price per unit keeps constant irrespective of the size of the order. While quantity discounts are obtainable, that

I want to do a custom dissertation on IAS 40 investment property which needs to include a brief outline, positive as well as negative international critique with respect to the sta

Comprehensive Basis of Accounting (OCBOA) - Consistent accounting basis other than GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP) used for financial reporting. Illustrations compr

Considering the following information, what is the price of the share as per Gordon’s Model? Details of the Company Net sales Rs.120 lakhs Net profit margin 12.5% Outstanding prefe

Asch Experiments In these basics studies by Solomon Asch, groups of seven or 8 people were put in a classroom and shown two cards by the experimenter. The first card had a mai

Mark up Mark up is defined as the rate of gross profit to cost of sales: Mark up = Gross Profit                Cost of sales Margin is defined as the rate of gros

Carnival Cruise Lines This question has two parts. Answer both parts. Structure your response using headings and subheadings where appropriate. The use of tables and point fo

I am taking  finance class. Our books is John C. Hull 2nd edition Risk Management and Financial Institutions.  Our HW  are from this book. I have four questions I need help with.