Assignment:
Four products are processed successively on two machines. The manufacturing times in hours per unit of each product are tabulated below for the two machines.
|
Machine
|
Time per unit (hours)
|
|
Product 1
|
Product 2
|
Product 3
|
Product 4
|
|
1
|
2
|
3
|
4
|
2
|
|
2
|
3
|
2
|
1
|
2
|
The total cost of producing a unit of each product is based directly on the machine time. Assume the cost per hour for machines 1 and 2 are $10 and $I5. The total hours budgeted for all the products on machine 1 and 2 are 500 and 380. If the sale price per unit for products 1, 2, 3, and 4 are $65. $70, $55, and $45, formulate the problem as a linear programming model to maximize total net profit.
Provide complete and step by step solution for the question and show calculations and use formulas.