The Tycron Company produces three electrical products-clocks, radios, and toasters. These products have the following resource requirements:
Resource Requirements
Product Cost/Unit Labor Hours/Unit
Clock $ 7 2
Radio 10 3
Toaster 5 2
The manufacturer has a daily production budget of $2000 and a maximum of 660 hours of labor. Maximum daily customer demand is for 200 clocks, 300 radios, and 150 toasters. Clocks sell for $15, radios, for $20, and toasters, for $12. The company desires to know the optimal product mix that will maximize profit.
Formulate and solve a linear programming model for this problem.