This is an MBA level problem. use Excel to solve (do not use Lindo).explain each step in the problem.
Greenville Cabinets received a contract to produce speaker
cabinets for a major speaker manufacturer. The contract calls for the
production of 3300 bookshelf speakers and 4100 floor speakers over the next two
months, with the following delivery schedule.
Model Month1 Month2
Bookshelf 2100 1200
Floor 1500 2600
Greenville estimates that the production time for each
bookshelf model is 0.7 hour and the production time for each floor model is 1
hour. The raw material costs are $10 for each bookshelf model and $12 for each
floor model. Labor costs are $22 per hour using regular production time and $33
using overtime. Greenville has up to 2400 hours of regular production time
available each month and up to 1000 additional hours of overtime available each
month. If production for either cabinet exceeds demand in month 1, the cabinets
can be stored at a cost of $5 per cabinet.
For each product, determine the number of units that should
be manufactured each month on regular time and on overtime to minimize total
production and storage costs.
