Please solve and show work in excel A farmer acquired 290 acres of...
80.2K
Verified Solution
Link Copied!
Question
Accounting
Please solve and show work in excel
A farmer acquired 290 acres of land to grow wheat, barley and/or rye. The farmer has a budget of $50,000 and a workforce available of 6400 hours for the season. Costs, profits, and labor requirements are as follows: Cost ($/acre) Profit (S/acre) Labor (hours/acre) Wheat 122 45 12 Barley 185 82 18 Rye 146 61 16 The farmer has a contract to supply wheat to a local client for the equivalent of 45 acres of wheat production. Due to limited demand, a marketing study recommended that no more than 100 acres should be utilized for each product during the season. The objective is to determine the number of acres to grow wheat, barley and rye to maximize total profit given the constraints. points Enter Formulation in yellow cells below Objective Function Subject To: Constraint 1 Constraint 2 Constraint 3 Constraint 4 Constraint 5 Constraint 6 Constraint 7 Constraint 8 point Set up the problem on a different sheet point Solve the problem using SOLVER, making sure to generate the Answer Report and Sensitivity Report point How much is the total profit? point The farmer is considering either buying more land or increasing his budget. What would you recommend? Buy more land
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!
