26 May Question Problem Statement: Model Processing Times
Question
Problem Statement:
| Model Processing Times | |||
| Model | Molding | Assembly | Packaging |
| 1-quart | 4 | 2 | 1 |
| 2-quart | 6 | 3 | 1 |
| 4-quart | 9 | 3 | 2 |
The PlasticMaid Corporation is a small injection molding plastics product producer in the Houston area. Their product line consists of three food storage container models that are similar except for the capacity of the container. The capacities are 1 quart, 2 quart, and 4 quart. The profit contributions for the three models are: 1-quart = $0.50, 2 quart = $1.25, and 4 quart = $1.50. Each product must pass through three departments at the plant: Molding, Assembly, and Packaging. Molding is limited to 69200 minutes per week, Assembly is limited to 27200 minutes per week, and Packaging is limited to 14800 minutes per week. Total plant production capacity is limited to 9000 units. The number of minutes that each product must spend in each department is shown in the table. PlasticMaid economists estimate that demand for the containers will be as follows: 1-quart = 3000, 2 quart = 4,000, and 4 quart = 2,500 (Note: it is possible that current capacity restrictions will not allow the firm to fulfill all of the demand). PlasticMaid has a firm order for 1000 units of the 4-quart model in the coming week.
1. What is the optimal product mix?
2. How much profit will PlasticMaid earn if they produce the optimal product mix?
Instructions:
1. Following the technique demonstrated in class, model the problem in Excel Solver.
2. Place a text box on the main page of your Excel workbook, and place your answers to questions 1 and 2 above in the text box.
3. Submit your completed Excel file in the assignment drop box.
Notes:
· The professor will attempt to recreate your results when he evaluates your spreadsheet. So, the Solver dialog of your submitted file must be loaded with the model that you used to generate your solutions.
· Your spreadsheet should be easy to read and understand, it should be well organized, and it should be error free.
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