MidTerm Exam (IE-310)(Monday, Oct 14, 1:00-1:50pm, open book/notes)Name:Total: 60 points.Problem 1A farmer specializes in raising grain, corn, and sugar beets on his5 acres of land. He wants to decide how much land to devote to each crop.The farmer knows that at least 1 tons (T) of wheat and 2 T of corn areneeded for cattle feed (these needs must be satisfied). Any production in excessof the feeding requirement would be sold. Selling prices are $200 and $150 perton of wheat and corn, respectively. Sugar beet sells at $40 T. The mean yieldon his land is roughly 2T, 3T, and 20T per acre for wheat, corn, and sugar.1. (6 pt) Formulate a LP to help the farmer to make a plan for the use ofhis land to maximize his total income.2. (2 pt) Formulate the augmented LP.3. (2pt) Identify basic variables at the initial stage of SIMPLEX iteration.Identify the entering basic variable and the departing basic variable (throughmin ratio test) for the first step of SIMPLEX iteration.