The manufacturing plant has 3 machine types (A, B, C) and wants to maximize profits by determining the optimal product mix to manufacture from 4 product types (P1, P2, P3, P4) given machine time constraints. The problem is formulated as a linear program with the objective of maximizing total profits and constraints on machine time availability. The linear program is solved graphically by plotting the constraints to find the optimal solution at a corner point of the feasible region.