You have enough wood to make 24 small toys or 6 large ones. In other words, the large toys require 4 times the amount of wood as the small toys. You only have time to make 16 of the small toys or 8 of the large toys. The small toys sell for $15 each, while the larger toys bring $45 each. Find the combination of the small and large toys that maximizes your revenue dollars.
Let S=# of small toys, L= # of large toys, R= revenue from sales, W= wood used, and T=time used
1. Formulate the problem:
a. State the objective function
b. State the constraints
2. Solve the problem:
a. Graphically
b. Corner Point solution method