[SOLVED] Better Products, Inc., manufactures three products on two machines

[SOLVED] Better Products, Inc., manufactures three products on two machines

Problem 8-19
Better Products, Inc., manufactures three products on two machines. In a typical week, 40 hours are available on each machine. The profit contribution and production time in hours per unit are as follows:
Two operators are required for machine 1; thus, 2 hours of labor must be scheduled for each hour of machine 1 time. Only one operator is required for machine 2. A maximum of 100 labor-hours is available for assignment to the machines during the coming week. Other production requirements are that product 1 cannot account for more than 50% of the units produced and that product 3 must account for at least 20% of the units produced.
How many units of each product should be produced to maximize the total profit contribution?
Product # of units
1 fill in the blank 1
2 fill in the blank 2
3 fill in the blank 3
What is the projected weekly profit associated with your solution?
$ fill in the blank 4
How many hours of production time will be scheduled on each machine? If required, round your answers to two decimal places.
Machine Hours Schedule: Machine 1: fill in the blank 5
Hours; Machine 2: fill in the blank 6
Hours
What is the value of an additional hour of labor? If required, round your answers to two decimal places.
$ fill in the blank 7
Assume that labor capacity can be increased to 120 hours. Develop the optimal product mix, assuming that the extra hours are made available.
Product # of units
1 fill in the blank 8
2 fill in the blank 9
3 fill in the blank 10
Profit: $ fill in the blank 11
Would you be interested in using the additional 20 hours available for this resource?


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