Please help with setting up solver parameter and how to find the optimal solution. ...

60.1K

Verified Solution

Question

Accounting

Please help with setting up solver parameter and how to find the optimal solution.

Many young people moving into apartments and new homes look forward to the excitement of furniture shopping. These young shoppers are usually interested in cheaper, build yourself furniture, however, many of them are not too handy and the excitement quickly dissipates as they start putting their furniture together. The instructions, even if they are in English, are difficult to understand and the consumer soon realizes that the savings may not be worth the hassle. Built-4-U is an online furniture company that caters to those customers. Built-4-U buys build yourself furniture directly from manufacturers at a discount price, assembles each piece at their warehouse, and then ships directly to their customers. Each customer can order their furniture online without ever having to leave their home or search for the right tool to assemble. Joe Builder, the owner and CEO of Built-4-U, plans to establish their beginning inventory by investing a maximum of $35,000 on 25 popular items. The website for Built-4-U is scheduled to go live shortly and all 4 inventory clerks were advised they might have to work five, 10 hour days prior to the grand opening to assemble this startup inventory. Joe believes he should order no less than 5 and no more than 20 units of each item. In addition, the manufacturer has a minimum truck order of 6,000 pounds. Given the following information, help Joe decide how many units of each item to order.

image
Item Oak Cabinet Wholesale Price Retail Price Weight Minutes of Assembly Oak Low Chair 209.00 369.00 35 80 49.00 Oak Gateleg Table 99.00 12 25 249.00 Oak Buffet with Top Cabinet 449.00 39 90 Oak Buffet 179.00 339.00 30 90 159.00 Oak Chair 299.00 28 65 59.00 Black Cherry Sideboard 109.00 13 20 209.00 Black Cherry Wall Cabinet 399.00 35 90 129.00 Black Cherry Dining Table 239.00 23 45 209.00 Black Cherry Chair 399.00 35 90 59.00 Black Cherry Coffee Table 109.00 13 20 119.00 Black Cherry Coffee Table Oval 229.00 22 50 99.00 Maple Round Coffee Table 189.00 19 45 99.00 Maple Oval Coffee Table 189.00 17 45 89.00 Maple Visitor Chair 179.00 18 45 89.00 Mahogany Chair 179.00 20 69.00 45 Mahogany Low Chair 149.00 15 59.00 45 Resewood Chair 119.00 14 20 55.00 Rosewood Wardrobe 109.00 13 20 209.00 Rosewood Linen Cupboard 379.00 35 139.00 70 Rosewood Chest with 3 Drawers 269.00 25 139.00 65 Rosewood Chest with 7 Drawers 269.00 28 70 499.00 Rosewood Wardrobe with 3 Doors 879.00 82 90 289.00 499.00 Rosewood Wardrobe with Sliding Doors 46 75 329.00 Rosewood Bed with Storage 559.00 51 75 179.00 319.00 32 65

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students