Show transcribed image text Smyrna Manufacturing produces several products four of which are scheduled for next week. The products are identified as Part 1, Part 2, Part 3 and Part 4. The following departments have provided the following helpful information Production: Each product goes through 3 manufacturing phases, casting, clean up and finishing. The processing time for each product in each phase in minutes and the time available in the phase is listed in the table below: Part 1 Part 2 Part 3 Part 4 Time (min) (min) (min) (min) Available Casting 14 40 hours 18 19 29 24 60 hours Clean up 12 25 25 30 26 80 hours Finishing 26 Management has indicated that they would like to produce at least 150 of the four different parts. Accounting: Accounting has identified that the cost per unit for each product is in the table below: Part 1 Part 2 Part 3 Part 4 Cost per Unit $7.00 $6.50 $8.00 $5.50 Marketing: Marketing has a contract for 45 units of Part 3 for next week Management Management would like you to formulate the product and solve it using Excel Solver then forward your recommendations to them. Additionally, management would like your input on the following questions: 1) If management would like to produce Part 2 and keep an optimal solution what do they have to do? 2) If the contract for Part 3 could be reduced to 35 from the current 45 what would be the impact on total costs? 3) If management could obtain more time in one of the phases which one and how much should the time be applied to? What would be the impact on costs? 4) Due to an error the cost of Part 4 should have been $6.50 not $5.50. What are the impacts ofthis error?