The Acme Class Ring Company designs and sells two types of rings: the VIP and the SST. They can produce up to 24 rings each day using up to 60 total man-hours of labor. It takes 3 man-hours to make one VIP ring, versus 2 man-hours to make one SST ring. How many of each type of ring should be made daily to maximize the company's profit, if the profit on a VIP ring is \( \$ 40 \) and on an SST ring is \( \$ 30 \) ? A. 14 VIP and 14 SST B. 12 VIP and 12 SST C. 10 VIP and 14 SST D. 14 VIP and 10 SST
Upstudy AI Solution
Answer
Solution
Answered by UpStudy AI and reviewed by a Professional Tutor


Bonus Knowledge
To maximize the company's profit, let's look closely at the constraints and figure out how many rings should be produced. The total number of rings should not exceed 24, and the total man-hours used should not exceed 60. Let \( x \) be the number of VIP rings and \( y \) be the number of SST rings. The equations we need to satisfy are: 1. \( x + y \leq 24 \) 2. \( 3x + 2y \leq 60 \) The profit function to maximize is: Profit = \( 40x + 30y \) Using these equations to find the optimal numbers, you will discover that the best option is to make 14 VIP rings and 10 SST rings, maximizing the profit under these constraints. Now, let’s look at why this combination works well and how the equations interact. By prioritizing VIP rings, you leverage the higher profit each yields while still meeting labor constraints. Balancing both types allows you to maximize output without exceeding available resources or ring limits. If you're interested in diving deeper into the world of production and optimization, consider exploring linear programming methods. They're a fantastic way to tackle similar problems with various constraints and desired outcomes. Books like "Introduction to Operations Research" by Frederick S. Hillier are great companions for those who want to enhance their problem-solving toolkit!