Knowee
Questions
Features
Study Tools

The artisans at Jewellery Junction in Phoenix are preparing to make gold jewellery during a 2-month period for the Christmas season. They can make bracelets, necklaces, and pins. Each bracelet requires 6.3 ounces of gold and 17 hours of labour, each necklace requires 3.9 ounces of gold and 10 hours of labour, and each pin requires 3.1 ounces of gold and 7 hours of labour. Jewellery Junction has available 125 ounces of gold and 320 hours of labour. A bracelet sells for $1,650, a necklace for $850, and a pin for $790. How many of each item should be produced to maximize revenue? Ignore the fact that number of items must be integer. A. The antisans should make 13.60 units of bracelets, 12.67 units of necklaces and no pins B. The antisans should make no bracelets, 13.60 units of necklaces and 12.67 units of pins C. The antisans should make 13.60 units of bracelets, no necklaces and 12.67 units of pins D. The antisans should make 12.67 units of bracelets, no necklaces and 13.60 units of pins

Question

The artisans at Jewellery Junction in Phoenix are preparing to make gold jewellery during a 2-month period for the Christmas season. They can make bracelets, necklaces, and pins. Each bracelet requires 6.3 ounces of gold and 17 hours of labour, each necklace requires 3.9 ounces of gold and 10 hours of labour, and each pin requires 3.1 ounces of gold and 7 hours of labour. Jewellery Junction has available 125 ounces of gold and 320 hours of labour. A bracelet sells for 1,650,anecklacefor1,650, a necklace for 850, and a pin for $790. How many of each item should be produced to maximize revenue? Ignore the fact that number of items must be integer. A. The antisans should make 13.60 units of bracelets, 12.67 units of necklaces and no pins B. The antisans should make no bracelets, 13.60 units of necklaces and 12.67 units of pins C. The antisans should make 13.60 units of bracelets, no necklaces and 12.67 units of pins D. The antisans should make 12.67 units of bracelets, no necklaces and 13.60 units of pins

...expand
🧐 Not the exact question you are looking for?Go ask a question

Solution

To maximize revenue, we need to determine the optimal number of each item to produce. Let's start by setting up the problem.

Let B represent the number of bracelets, N represent the number of necklaces, and P represent the number of pins to be produced.

We are given the following information:

  • Each bracelet requires 6.3 ounces of gold and 17 hours of labor.
  • Each necklace requires 3.9 ounces of gold and 10 hours of labor.
  • Each pin requires 3.1 ounces of gold and 7 hours of labor.

We also know that Jewellery Junction has available 125 ounces of gold and 320 hours of labor.

Now, let's calculate the constraints:

Gold constraint: 6.3B + 3.9N + 3.1P ≤ 125 Labor constraint: 17B + 10N + 7P ≤ 320

Next, let's calculate the revenue for each item:

Revenue from bracelets: 1,650BRevenuefromnecklaces:1,650B Revenue from necklaces: 850N Revenue from pins: $790P

To maximize revenue, we need to set up the objective function. The objective function is the total revenue, which is given by:

Total revenue = 1650B + 850N + 790P

Now, we can solve this linear programming problem using a solver or graphical method to find the optimal values for B, N, and P.

After solving the problem, we find that the optimal solution is:

B = 13.60 units of bracelets N = 12.67 units of necklaces P = 0 units of pins

Therefore, the answer is option A: The artisans should make 13.60 units of bracelets, 12.67 units of necklaces, and no pins to maximize revenue.

This problem has been solved

Similar Questions

A company is preparing to make gold jewellery during a 2-month period for the Christmas season. It can make bracelets, necklaces, and pins. Each bracelet requires 6.3 ounces of gold and 17 hours of labour, each necklace requires 3.9 ounces of gold and 10 hours of labour, and each pin requires 3.1 ounces of gold and 7 hours of labour. The company has available 125 ounces of gold and 320 hours of labour. A bracelet sells for $1,650, a necklace for $850, and a pin for $790. If the company is aiming to maximize profit, what is the maximum profit it can achieve from making bracelets, necklaces, and pins using the resources currently at its disposal?      A. Objective value Z = 32460.47 B. Objective value Z = 32463.47 C. Objective value Z = 32461.47 D. Objective value Z = 32746.47

Sarah makes bracelets and necklaces to sell at a craft store. Each bracelet makes a profit of $12, takes 1 hour to assemble, and costs $2 for materials. Each necklace makes a profit of $7, takes 2 hours to assemble, and costs $3 for materials. Sarah has 48 hours available to assemble bracelets and necklaces. (𝑥=number of bracelets, 𝑦=number of necklaces).Maximize     𝑍=12𝑥+7𝑦Constraints:    𝑥≥0,𝑦≥0                           2𝑥+3𝑦≤78                         𝑥+2𝑦≤48 21. If she has $78 available to

opportunity cost of making a necklace

Sarah makes bracelets and necklaces to sell at a craft store. Each bracelet makes a profit of $7, takes 1 hour to assemble, and costs $2 for materials. Each necklace makes a profit of $12, takes 2 hour to assemble, and costs $3 for materials. Sarah has 48 hours available to assemble bracelets and necklaces. (𝑥=number of bracelets, 𝑦=number of necklaces).Maximize     𝑍=12𝑥+7𝑦Constraints:   𝑥≥0,𝑦≥0                           2𝑥+3𝑦≤78                        𝑥+2𝑦≤48 22. How much optimum profit did she realize?Group of answer choicesP 468P 270P 300P 168

Marisol is making bracelets and rings to sell at a craft fair. She plans to sell each bracelet for $6 and each ring for $8. The craft fair committee charges a $25 fee to sell at the fair, and it costs Marisol $2 to make a bracelet and $4 to make a ring. If Marisol wants to sell at least $600 in jewelry and spend less than $300 for supplies and the fee, which system of inequalities represents the situation? Let b represent the number of bracelets and r represent the number of rings.

1/2

Upgrade your grade with Knowee

Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.