The Pinewood Furniture Company produces chairs and tables from two resources-labor and wood. The company has 80 hours of labor and 36 board -ft. of wood available each day. Demand for chairs is limited to 6 per day. Each chair requires 8 hours of labor and 2 board-ft. of wood, whereas a table requires 10 hoursof labor and 6 board-ft. of wood. The profit derived from each chair is $400 and fromeach table $100. The company wants to determine the number of chairs and tables to produce each day in order to maximize profit.
a. Formulate a linear programming model for this problem. Utilize Simplex Method in excel showing formulas.
b. How much labor and wood will be used if the optimal numbers of chairs and tables are produced?