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Find cost of production and selling prices

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Reference no: EM133038894

A paint manufacturing company produces exterior and interior types of paint. Both exterior and interior paints are either oil-based, or water-based. The following information is provided:

  • Cost of production and selling prices per unit of each of the four types of paint are shown in the following table: 

 

Exterior Paint

exterior paint

exterior paint

interior paint 

 

oil-based

water-based

oil-based

water-based

Cost per unit

Price per unit

5

10

2

5

7

12

3

8
  • The special oil compound required to produce oil-based paint types is available at quantities of 10,000 units per day. The coloring particles used for all types of paint is available at quantities of 6,000 units per day. The usage requirements are shown in the table below:

 

Exterior Paint

exterior Paint

interior Paint

interior Paint

 

 

Oil-based

Water-based

Oil-based

Water-based

Availability

Oil compound

0.3

-

0.5

-

20,000

Color particles

0.1

0.2

0.1

0.2

8,000
  • The total daily production of paint is stored in a warehouse with a capacity of 30,000 liter
  • Minimum production of oil-based paint is 6,000 liters, and the minimum production of water-based paint is 4,000 liter
  • Total daily sales revenue must not be less than 40,000.
  • Formulate the linear programming mathematical model that maximizes the daily net profits.

Reference no: EM133038894

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