Bright Furnitures produces chairs and tables that go through M1 and M2. Making a 1 table and 1 chair takes the following time in hours: TABLE CHAIR M1 7 4 M2 5 5 Total of 200 hours are available on M1 and 400 hours on M2. Profit contribution from the sale of a chair is P300 and from a table is P400. Requirement: Determine the optimal mix of tables and chairs so as to maximize the contribution. Use Excel Solver.
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A: Excel Model Preparation:
Bright Furnitures produces chairs and tables that go through M1 and M2. Making a 1 table and 1 chair takes the following time in hours:
TABLE | CHAIR | |
M1 | 7 | 4 |
M2 | 5 | 5 |
Total of 200 hours are available on M1 and 400 hours on M2. Profit contribution from the sale of a chair is P300 and from a table is P400.
Requirement: Determine the optimal mix of tables and chairs so as to maximize the contribution. Use Excel Solver.
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