A manufacturing company produces two products. Both products need to be processed on machines. For the production times, product 1 uses 15 minutes per unit and product 2 uses 17 minutes per unit. The total regular machine time is 2500 minutes per day.
The daily demand of product 1 is between 150 to 200 units and that of product 2 is no more than 55 units. Overtime may be used to meet the demand at an additional cost of $.50 per minute. The unit profits for products 1 and 2 are $6.00 and $9.90, respectively.
a) Please formulate as an LP model. For your model, define the variables before you use. I will check three areas for this model: variable definition, objective function and constraints.
Hint: For the production time constraint,
Total production with production time = 2500 + additional time needed – remaining time.
2. b) Solve the model created in 2.a) using LINDO or Solver. No screen captures.
Use Courier New font style for the output.
2. c) Explain your manufacturing plan based on the output of 2.b), including how many of product 1 and 2 are produced and how much of additional time (minutes) is needed.