Excel Experts Only

Instructions

Problem Description: ABC Toys Inc. manufactures various types of toy products (Toys A – E). The manufacturing process for all toys is similar in that each toy requires similar manufacturing material including paint, plastic, wood, and glue. The number of units of each material required per unit of production for each toy is provided in the ABC_Toys.xlsx workbook, along with the profit per unit of production of each type of toy. The spreadsheet also includes the maximum quantity available for all manufacturing material in the next production period.   Given the material requirements for production of each toy, the profit yield from each toy, and the material availability constraints, your task is to determine the optimal mix of products that ABC Toys should produce in the next time period. Toward this, you will use the Solver tool as follows:   Tasks: - You can setup the Solver solution in the same worksheet (Production-Data) or a new one.   - Setup placeholder cells for the production quantities of Toys A – E. These cells will act as the changing cells in the solver tool.   - Using the placeholder cells and the profit values of each toy, designate and formulate a cell that holds the total profit from the production of the toys. This cell will act as the target cell (objective function) in the solver tool.   - Using the placeholder cells for the production quantities, designate and formulate cells that contain the total quantity of material required for red paint, blue paint, white paint, plastic, wood, and glue. These cells will act as the comparison cells for the material availability constraints identified in the spreadsheet.   - Open the solver tool and specify the target cell, changing cells, and constraints along with other parameters for obtaining a linear programming solution to this optimization problem.

Production-Data