Final answer:
The problem can be formulated as a linear programming problem to maximize total proceeds. The objective is to maximize total proceeds, and constraints are set based on the production time and hand finishing time for each component. Using the linear programming model, the optimal production quantities can be determined.
Step-by-step explanation:
The problem can be formulated as a linear programming problem to maximize total proceeds. Let's define the decision variables:
- x1 = Number of units of A produced
- x2 = Number of units of B produced
- x3 = Number of units of C produced
The objective is to maximize total proceeds, which can be represented as:
Maximize P = 30x1 + 45x2
Subject to the following constraints:
- x1 + x3 ≤ 130
- 2x2 + x3 ≤ 100
- 1x1 + 0.75x2 + 0.5x3 ≤ 300
- 0.25x3 ≤ 45
- All variables x1, x2, x3 ≥ 0
Using the above objective function and constraints, we can solve this linear programming problem to determine the optimal production quantities of each component.