United manufacturing is planning on spending up to 4 million dollars on new automated assembly machinery. They have decided to purchase two different models of equipment and are trying to decide how many of each they should purchase.
The F300 model costs $350,000 each and the S250 costs $220,000 each. The F300 has new features so they want 1/3 of the machines purchased to be the F300 models. The annual maintenance budget is $120,000. The annual maintenance cost of each F300 is $12,000 and the maintenance of each S250 is $7,500.
Each F300 produces 125 units per day. Each S250 produces 81 units per day. Create a worksheet and use Solver to find how many of each model to purchase to maximize daily production within the constraints.
Please provide the formulas and instructions so I can learn and create the worksheet.