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How many chairs and tables should be produced

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Problem 1: Lame Example Furniture Company makes two products for its adoring public: chairs (C) and tables (T). Each chair requires 5 hours of labor and 4 linear feet of rich mahogany, and each table requires 3 hours of labor and 20 linear feet of rich mahogany. The company has 240 labor hours available, and the warehouse has 700 linear feet of rich mahogany available. Profit for each chair is $300 and for each table is $1600. The company wants to determine how many chairs and tables should be produced in order to have a maximized profit. Which of the following options is the objective function?

Option 1: Min Z= 300C+1600T
Option 2: Max Z=240C+700T
Option 3: MIN Z= 240C+700T
Option 4: Max Z= 300x+1600T

Reference no: EM132744779

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