The Tots Toys Company Is Trying to Schedule Production of Two

question 6

Essay

The Tots Toys Company is trying to schedule production of two very popular toys for the next three months: a rocking horse and a scooter.Information about both toys is given below. $$\begin{array} { l c c c c c } \text { Toy } & \begin{array} { c } \text { Begin. Invty. } \\\text { June 1 }\end{array} & \begin{array} { c } \text { Required } \\\text { Plastic }\end{array} & \begin{array} { c } \text { Required } \\\text { Time }\end{array} & \begin{array} { c } \text { Production } \\\text { Cost }\end{array} & \begin{array} { c } \text { Production } \\\text { Cost }\end{array} \\\hline \text { Rocking Horse } & 25 & 5 & 2 & 12 & 1 \\\text { Scooter } & 55 & 4 & 3 & 14 & 1.2\end{array}$$ $$\begin{array} { l c c c c } \text { Summer Schedule } & \begin{array} { c } \text { Plastic } \\\text { Available }\end{array} & \begin{array} { c } \text { Time } \\\text { Available }\end{array} & \begin{array} { c } \text { Monthly Demand } \\\text { Horse }\end{array} & \begin{array} { c } \text { Monthly Demand } \\\text { Scooter }\end{array} \\\hline \text { June } & 3500 & 2100 & 220 & 450 \\\text { July } & 5000 & 3000 & 350 & 700 \\\text { August } & 4800 & 2500 & 600 & 520\end{array}$$ Develop a model that would tell the company how many of each toy to produce during each month.You are to minimize total cost.Inventory cost will be levied on any items in inventory on June 30,July 31,or August 31 after demand for the month has been satisfied.Your model should make use of the relationship
Beginning Inventory + Production  Demand = Ending Inventory
for each month.The company wants to end the summer with 150 rocking horses and 60 scooters as beginning inventory for Sept.1.Don't forget to define your decision variables.

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Definitions:

Coverdell Education Savings Account

An investment account in the United States that offers tax benefits to incentivize saving for upcoming educational costs.

AGI

Adjusted Gross Income, which is gross income minus adjustments, used to determine tax liability.

Coverdell Education Savings Account

A tax-advantaged savings account designed to fund education expenses, offering tax-free growth and withdrawals for qualifying educational costs.

Tax-Deductible

Expenses that can be subtracted from one's taxable income, effectively reducing the tax liability.